Nitrogen Fertilizer Additives Market Gains Impetus in Asia on Back of Vast Agrarian Economies, says Fact.MR
The Nitrogen fertilizer additives market is expected to display a moderate growth rate of 3.2% CAGR between the forecast years from 2020 to 2030. The high reliance of the industry on supplies coming out of China, and lockdown restrictions on additive production in the region create supply chain delays. In addition, the growing popularity of organic and natural fertilizers is also expected to restrain market growth in the long term.
“Growing concerns internationally about the security of food supplies and the increased demand for greater agricultural yields are propelling demands for key nutrients such as nitrates and phosphates for better fertilizer quality and shelf life, which is critical for the increased demand for fertilizer additives in the years to come,” says the Fact.MR report.
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Nitrogen fertilizer additives market – Takeaways
- Anti-caking, followed by anti-dusting additives are highly sought after in the fertilizer industry, to improve shelf life, and minimize product degradation during storage and transportation.
- Applications in ammonium nitrate fertilizers is projected to reflect a relatively higher rate of growth, supported by low cost and superior nutrition profiles in comparison to other nitrogenous fertilizer alternatives.
- Fertilizer additives to be mixed during fertilizer formulation processes are expected to reflect higher demand, with larger investments from fertilizer manufacturers.
- Asia Pacific excluding Japan is a key regional market for fertilizer additives, led largely by the vast agrarian economies of India and China, which will drive demand for fertilizers and additives for the foreseeable future.
Nitrogen fertilizer additives market – Drivers
- Improvements in modern fertilizer additives aid in increasing the lifespan of the soil, without replacement of essential constituents, supporting demand in the long term.
- Favorable government policies towards agriculture, and initiatives towards food security will aid long term prospects in the Nitrogen fertilizer additives market.
- The steady decrease in per capita of arable land in most parts of the world, coupled with efforts towards the standardization of agricultural materials and processes will support the market.
Nitrogen fertilizer additives market – Constraints
- Risks of toxicity and environmental damage from application of conventional synthetic fertilizers is a key obstacle holding back players in the Nitrogen fertilizer additives market.
- Saturation in matured western markets, coupled with an intensely competitive market landscape, reduces profit margins for manufacturers.
Anticipated Market Impact by Coronavirus Outbreak
The global agrochemicals sector has been negatively impacted by the ongoing coronavirus pandemic. Producers are facing challenges owing to disruptions in the supplies of raw materials. In addition, China, the epicenter of the pandemic is a major fertilizer additive and raw material production center. Consequently, the global industry is likely to face delays in delivery schedules.
On the other hand, food security concerns have resulted in many governments relaxing regulations associated to fertilizer production, which will help market players to partially mitigate the risk of losses during this period.
The market is expected to reflect gradual recovery in the months to come through 2021, as organized agriculture gets back on track, and farming bodies take measures to reduce harvest problems arising with the labor shortage during the pandemic.
Explore the global Nitrogen fertilizer additives market with 113 figures, 90 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/3052/fertilizer-additives-market
Major manufacturers in the Nitrogen fertilizer additives market include but are not limited to Dorf Ketal, Neelam Aqua & Specialty Chem Pvt. Ltd., Clariant AG, Timac Agro USA, Chemipol S.A., Fertibon Products Pvt. Ltd., ArrMaz, Hubei Forbon Technology Co. Ltd., Arkema S.A., and Michelman Inc.
Prominent producers in the Nitrogen fertilizer additives market are seeking to invest in product development and launch strategies, with a growing focus on natural and organic ingredients for new formulations, which has supported research by academic institutes. Other strategies include capacity expansions and industry mergers and acquisitions.
For example, researchers from the University of Nebraska-Lincoln has unveiled a new additive for fertilizers sourced from upcycled vineyard waste, which has been claimed to improve anti-oxidant properties of soil. Similarly, the University of Philippines Los Banos has revealed the production of a fertilizer additive based from carrageenan sourced from edible seaweed, which has proven to improve rice yield by more than 60%. Further, West Central has unveiled its Trivar brand of fertilizer additive, which is designed for dry fertilizer formulations that find use in fall and spring agriculture applications.
More on the Report
Fact.MR’s market research report provides insights on the Nitrogen fertilizer additives market. The market is segregated by type (anti-caking agents, dust suppressors, drying agents, granulating agents, and others), and application (nitrogen, phosphorus pentoxide, potassium oxide, and others) across seven key regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, Middle East and Africa).
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