Global Fertilizer Additives Market – Increasing Popularity of Nitrogen Fertilizers to Drive Growth| Technavio

LONDON–(BUSINESS WIRE)–#Fertilizers–The global
fertilizer additives market is expected to grow at a CAGR of
close to 3% during the period 2018-2022, according to a new
market research study by Technavio.

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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