The global fertilizer additives market size is expected to reach USD 3.94 billion by 2024
NEW YORK, July 18, 2018 /PRNewswire/ -- Fertilizer Additives Market Size, Share & Trends Analysis Report By End Product (Urea, Ammonium Nitrate), By Function (Anti-dusting Agents, Anti-caking Agents), By Region, And Segment Forecasts, 2018 - 2024
Read the full report: https://www.reportlinker.com/p05399378
The global fertilizer additives market size is expected to reach USD 3.94 billion by 2024, according to a new report by Grand View Research, Inc., registering a 3.2% CAGR during the forecast period. A booming fertilizer industry is expected to have a positive impact on the fertilizer additives market growth.
Agriculture has been the backbone of several developing countries such as India and China.In fact, growth of the Indian economy can be attributed to the expansion of the agriculture sector and its related industries.
The market size of agriculture and allied activities in India rose from USD 132.7 billion in the financial year 2014 to USD 259.2 in the financial year 2015. This tremendous growth was due to increased agricultural output. Rising use of fertilizers was one of the major reasons for this boom in output.
Agriculture is an important sector in the French economy as well. Around 60.0% of the land in France is used for agriculture and related activities. It is one of the largest producers of cereals, oilseeds, milk, and sugar beets. The reform of Common Agricultural Policy was passed in France, which was aimed at maintaining environmental balance, while indulging in agricultural activities. In 2015, this country accounted for more than 18.0% of the European fertilizer additives market.
Further key findings from the report suggest:
• In terms of revenue, the anti-caking agent function is anticipated to reach USD 1,510.5 million by 2024
• In terms of revenue, the anti-dusting agents segment is projected to expand at a CAGR of 3.3% over the forecast period
• By end product, urea dominated the global fertilizer additives market with a share of 55.6% in 2015
• The North America fertilizer additives market is anticipated to exceed USD 552.0 million by 2024
• Asia Pacific is projected to witness a CAGR of 3.5% over the forecast period, owing to rapid developments in the agriculture sector
• Market players adopt strategies such as mergers and acquisitions, expansions, new product developments, joint ventures, and collaborations in order to increase their market share
• Some of the key companies present in the market are Clariant, KAO Corporation, Novochem Group, Filtra Catalysts & Chemicals Ltd., Solvay, Arrmaz, Liven Agrichem Pte Ltd., Forbon Technology, Michelman, Tolsa Group, ChemSol, LLC, and Amit Trading Ltd.
Read the full report: https://www.reportlinker.com/p05399378
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