Market Overview
Global fertilizer additives market was valued at $3,170 million in 2016 and is expected to reach $3,741 million by 2023, registering a CAGR of 2.3 percent from 2017 to 2023. Fertilizer additives are added to the fertilizers to stimulate their productivity, according to a report by Allied Market Research.
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. Moreover, fertilizer additives improve the quality and stability of fertilizers and soil, avoid loss of nutrients such as nitrogen, phosphorus, potassium, and sulfur, and prevent corrosion of the container used for transportation. They also provide anti-foaming and anti-caking characteristics to the fertilizer.
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