The report presents a comprehensive research of the global fertilizer additives market by function (anti-caking agents, anti-dusting agents, hydrophobic agents, and corrosion inhibitors) and by form of application (granular form, prilled form, and powdered form). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increasing popularity of nitrogen fertilizers propelling demand for fertilizer additives
Nitrogen fertilizers is a type of fertilizer that is based on nitrogen chemical combinations. Nitrogen fertilizers are compounds that are added to reinforce the development of plants backed by the photosynthesis process.
According to a senior analyst at Technavio for agrochemicals and fertilizers research, “Fast growth of plants with hybrid seeds, improvements in the quality of pasture, increase in crop yield along with improved quality of land, and reclamation of land for pasture post drained marshland are some of the benefits that are driving the demand for nitrogen fertilizers.”
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Market trend: novel method of fertilizer additive production
The global fertilizer additives market has observed an unusual method in the production of fertilizer additives. The novel method of fertilizer additive production consists of recycled alkaline batteries to recover micronutrients. Novel methods of fertilizer additive production are gaining prominence even though the concept of production of fertilizer additive using a metal battery seems unusual. The method enables the growth of stronger and healthier plants. The manganese and zinc materials in alkaline batteries are cleaned and sized to be used as fertilizer additives.
Fertilizer additives produced using alkaline batteries are being used to increase the yield of crops and also to add value to the crops (nutritional). Moreover, different food associations have approved and recommended this method of fertilizer additive production. Recycling of batteries has also contributed to the increasing prominence of the production of fertilizer additives from alkaline batteries.
Market challenge: escalating prices of fertilizers hampering market growth
In regions such as EMEA and APAC, the increase in prices of fertilizers has posed a challenge to the global fertilizer additives market. In countries such as India, tax reforms such as the goods and services tax (GST) is decreasing the demand for fertilizers. The fluctuations in the tax rates have led to the decrease in a number of farmers opting for fertilizers. The rise in the cost of fertilizers has led to increased retail prices of fertilizer additives due to the high cost of cultivation and imbalance in the use of fertilizers.
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