However, the complexity involved in producing nitrogen fertilizer additives and the stringent policies and regulations in developed regions may hamper the growth of the nitrogen fertilizer additives market.
The ill effects of nitrogen fertilizer additives, such as leaching and volatility in agricultural soil, may restrain the growth of the nitrogen fertilizer additive market, with end users opting for substitutes. The product development of nitrogen fertilizer additives must strictly comply with environmental management regulatory standards.
Thus, significant manufacturers and players in the nitrogen fertilizer additives market emphasize the same. A suitable example of advocating this trend has been manufacturers’ launch of high-performance and low-toxicity level prototypes of nitrogen fertilizer additives. The prices of nitrogen fertilizer additives are expected to grow moderately.
Nitrogen Fertilizer Additives Market Regional Outlook
Significant growth of the rural countries in South East Asia, Latin America, etc., coupled with the growing per capita expenditure, increasing population, growing food demand and rising demand for effective fertilizers, is expected to support the growth of the nitrogen fertilizer additives market. China dominates the global nitrogen fertilizer additives market regarding consumption and production. China is a significant producer of nitrogen fertilizers and accounted for over 33% of the worldwide output in 2017, along with the subsequent production of nitrogen fertilizer additives.
The China nitrogen fertilizer additives market is expected to witness high value-volume growth over the forecast period. The U.S. and India are also considered significant markets for nitrogen fertilizer additives and are expected to register steady CAGRs over the forecast period. In the Middle East & Africa region, Morocco dominates the nitrogen fertilizer market in terms of production with significant capacity and attributing to this, the demand for nitrogen fertilizer additives in the area is pegged to be high.
Overall, the MEA nitrogen fertilizer additives market is expected to exhibit a steady CAGR over the forecast period. In Europe, Russia accounted for the highest share of nitrogen fertilizer production, which in turn is creating demand for nitrogen fertilizer additives. The Europe Nitrogen fertilizer additives market is expected to grow slowly over the forecast period. The Latin America nitrogen fertilizer additives market is also expected to register sluggish growth over the forecast period. Australia and New Zealand are also expected to register significant consumption of nitrogen fertilizer additives.
These insights are based on a report on Nitrogen Fertilizer Market by Future Market Insights.
