Asia-Pacific Fertilizer Additives Market was worth USD 1.19 billion in 2021 and estimated to be growing at a CAGR of 2.62%, to reach a market value of USD 2.18 billion by 2026.
The market is expected to showcase evident potential in the mentioned forecast period. The Asia-Pacific Fertilizer Additives has continued to gain momentum with the rise in demand for the fertilizers as a result of increasing pressure on Asia-Pacific food production and development in field of fertilizer production technologies.
Fertilizer Additives are compounds added to the fertilizers for enhancing their productivity. The demand for higher agricultural yields are met with the subsequent demands for primary nutrients and high quality of fertilizers, which in turn is responsible for the increase in the demand for the Fertilizer additives.
Drivers and Restraints of Asia-Pacific Fertilizer Additives Market:
The Research and development in the sector of fertilizer manufacturing technology have been responsible for evident growth in the Asia-Pacific Fertilizer Additives Market. Other major factors driving the growth of the fertilizer additives market include rising demand for agricultural commodities, ease of application and handling of fertilizers, and demand for higher yielding crops. The Asia-Pacific Fertilizer additives market has also been facing some challenges and restraints. Some of the key factors are, growth of organic fertilizer industry, environmental impact of chemical fertilizers, stringent government policies and adverse effects of agrochemicals on human health.
The market was dominated by anticaking agents and is projected to grow at the highest CAGR among all sub segments during the forecast period.
Among these Urea holds the largest share of Asia-Pacific Fertilizer Additives Market.
On the basis of geography, the Asia-Pacific fertilizer additives market is analyzed under various countries namely China, India, Japan, Australia, and South Korea.
Major Key Players:
Some of the major companies dominating the Asia-Pacific fertilizer additives market include Clariant, Novochem Group, KAO Corporation, Amit Trading Ltd., Filtra Catalysts & Chemicals Ltd., Arrmaz, Forbon Technology, Chemipol, Michelman, Tolsa Group.
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