Global Controlled Release Fertilizer Market 2019-2024: —
In 2018, the controlled release fertilizer market was estimated at USD 3,560.8 million, and it is projected to register a CAGR of 6.8% during the forecast period (2019-2024).
The drivers identified in the market are increasing demand for high efficiency fertilizers, shrinking farm land, and environment-friendly operation. The restraints identified in the market are lack of awareness among farmers, high production cost, and fixed rate of nutrient release.
This study presents the Controlled Release Fertilizer production, revenue, market share and growth rate for each key company, and also covers the breakdown data by regions, type and applications.
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Scope of the Report
A controlled-release fertilizer (CRF) is a form of granulated fertilizer, which releases nutrients slowly into the soil, with a controlled release period, as it contains less soluble chemical compounds. The market is segmented on the basis of type of CRF (coated and encapsulated fertilizer, nitrogen stabilizer, and other controlled release fertilizer), as well as geography.
Key Market Trends
Increasing Demand for High Efficiency Fertilizers is Driving the Market
The trends in crop production (especially maize and wheat), since the last four decades, highlight that the nitrogen application rate increased about 15 times, whereas its accumulation in grains increased only three-four times. At the same time, nutrient recovery by crops remained relatively low (for instance, about 50% for nitrogen). This fact represents a potentially alarming situation from environmental, economic, and resource conservation points of view and indicates an urgent need for improving efficiency of fertilizer use. Anticipated benefits and increasing global revenue from the controlled release fertilizers are expected to drive the market during the forecast period.
North America Dominates the Market
North America witnessed consistent growth and thus is expected to provide potential market opportunities. The North American controlled release fertilizer market accounts for major share in the revenue for the region. The first chemically-controlled release products were available as fertilizers, over 50 years ago. High cost, with respect to other nitrogen fertilizers presently, has constrained their utilization in large-scale production of commodity crops, such as, corn, sorghum, wheat, and canola. The application was restricted to special vegetables, orchards, nurseries, seed production, etc. Eliminating superfluous application of fertilizers saves a broadcasting expense of about USD 5 – USD 7 per acre, which acts as a driver for the market.
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There are many big and small companies that are producing controlled release fertilizers, like Sociedad Quimica Y Minera, Agrium, Yara international, and Haifa Chemicals Ltd, among others, who produce or manufacture quality control fertilizers. The top players, operating in the specialty fertilizers market, are adopting strategies, such as mergers and acquisitions and new product launches, to maintain and strengthen their market foothold. With the growing demand from the burgeoning population, the controlled release fertilizer market is witnessing a number of new product launches, mergers and acquisitions, and partnership between the global players.
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Table of Contents
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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