Asia Pacific Fertilizer Additive Market to 2027 - Regional Analysis and Forecasts by Function, Application, Form, and Country
NEW YORK, April 22, 2020 /PRNewswire/ -- The fertilizer additive market in Asia Pacific was valued at US$ 1,334.2 million in 2018 and is projected to reach US$ 1,597.1 million by 2027; it is expected to grow at a CAGR of 2.0% from 2019 to 2027.
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Fertilizer additives are the substances that are added to fertilizers to enhance their efficiency by controlling the release of necessary nutrients by the fertilizers that are required for crop growth. These
component slow down the release into soil where environment and biologicals have impact. Fertilizer additives also inhibits biological activity which can impact the nitrogen cycle
in the soil. For instance, nitrogen fertilizer additives are added to a water-soluble or readily available fertilizer to extend the time for which nitrogen remains in soil in a particular form. The loss of nutrients from the soil due to soil erosion, mono-cropping, continuous cropping, and other factors has led to the rise in demand for fertilizer additives. These compounds can also be used for improving the shelf life of fertilizers during storage by preventing lump formation and caking, which can degrade their quality. The use of fertilizers is one of the oldest methods of improvising agriculture processes. Modern chemical fertilizers contain three essential elements—nitrogen, potassium, and phosphorus (NPK). Apart from these, fertilizers also provide other nutrients such as sulphur, calcium, zinc, boron, copper, iron, and magnesium.
The APAC fertilizer additive market, based on function, has been segmented into dust control agent, anti-caking agent, anti-foam agents, granulation aids, corrosion inhibitors, hydrophobing agents, and others.The anti-caking agent segment accounted for the largest share of the fertilizer additive market in Asia Pacific in 2018.
Their ability to prevent lump formation makes the transportation, consumption, and packaging of the fertilizers easy. Further, the dust control agent segment is expected to register exceptional CAGR during the forecast period.
The super-premium glass bottles are higher in price and value as compared to the premium and standard glass bottles.Fertilizer additives packed in super-premium glass bottles are gaining high popularity and profitability across the region.
The super-premium glass bottles are expensive as compared to the premium and standard glass bottles.The peculiar design and texture of these types of bottles are customized and used by the well-established brands.
The rise in the consumption and demand of premium Fertilizer additive leads to an increase in the super-premium glass bottles and is forecasted to grow higher in the coming years.A significant use of TSP is in conditions where several solid fertilizers are mixed for broadcasting on the soil surface or for application in a concentrated band underneath the surface.
It's also appropriate for fertilization of leguminous crops where no additional N fertilization is needed.
The fertilizer additive market in Asia Pacific is further segmented into Australia, China, Japan, and South Korea.China accounted for the largest share of the market in this region in 2018; it is further projected to retain its dominance in terms of market size over the forecast period.
However, India is expected to register the highest CAGR in the market during the forecast period. The growth of the fertilizer additive market in this region is primarily attributed to the development of the agriculture sector, coupled with the significant demand for fertilizers, in the past few years.
A few of the players operating in the fertilizer additive market in Asia Pacific are Arrmaz (Arkema Group), Solvay, Kao Corporation, Chemsol LLC, Clariant, Dorf Ketal, Michelman, Inc., and Omex, Agriculture, Inc.
The overall fertilizer additive market size in Asia Pacific has been derived in accordance to both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the fertilizer additive market in Asia Pacific.
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