Latin America Fertilizer Additives Market is valued at USD 0.55 billion in 2021 and estimated to grow at a CAGR of 2.45%, to reach USD 0.71 billion by 2026. The Latin America Fertilizer Additives Market continues to show momentum with the rise in demand for the fertilizers due to high pressure on Latin America food production and development in the field of fertilizer production technologies.
Fertilizer Additives are generally chemicals compounds which are added to the fertilizers to improve their productivity. The growing demand for high agricultural yields are usually met with the subsequent demands for higher quality fertilizers and primary nutrients, which is responsible for the increase in the usage of Fertilizer additives.
Drivers and Restraints of Latin America Fertilizer Additives Market:
The Research and development in the technology of fertilizer manufacturing has been responsible for evident growth in the Latin America fertilizer additives market. Other important factors driving the fertilizer additives market include, ease of application and handling of fertilizers, demand for high yielding crops and rising demand for agricultural commodities. The Latin America Fertilizer additives market also faces some challenges and restraints. Some of these factors include, adverse effects of agrochemicals on human health, growth of organic fertilizer industry, environmental impact of chemical fertilizers and stringent government regulations.
Latin America Fertilizer Additives Market – By Function:
Among these, Anti-caking agents holds the largest share of Latin America Fertilizer Additives market.
Latin America Fertilizer Additives Market – By Application:
At present, the ferlizer additives are most used with Urea, which contributes to a bulk share.
Latin America Fertilizer Additives Market – By Form of Application:
Geographically, the Latin America Fertilizer Additives Market is analysed under various regions namely Brazil, Argentina, Mexico and rest of Latin America.
Major Key Players:
Some of the major companies dominating the Latin America Fertilizer Additives Market, by their products and services include Clariant, Michelman, KAO Corporation, Amit Trading Ltd., Novochem Group, Arrmaz, Chemipol, Filtra Catalysts & Chemicals Ltd., Forbon Technology, Tolsa Group.
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