Controlled Release Fertilizers Market Projected To Grow With Significant CAGR Over The Forecast Peri
Posted: May 22, 2018
Controlled Release Fertilizers Market Projected To Grow With Significant CAGR Over The Forecast Period
Controlled release fertilizers are a special class of customized fertilizers which are coated so that their effect stays for long in the soil. Unlike traditionally used fertilizers which get dissolved in water very quickly, controlled release fertilizers are granulated and so they release nutrients gradually into the soil. Due to these properties of controlled release fertilizers, they are gaining popularity among farmers. Controlled release fertilizers are widely used in cultivation of fruits, vegetable, cereals and pulses. They can also be used for growing turf and decorative plants.
Controlled Release Fertilizers Market – Market Dynamics
Reduction in farming land and overall productivity of soil, demand for high efficiency fertilizers, and a complete shift of population towards eco-friendly ways of application of fertilizers are driving growth for the controlled release fertilizers market. One of the important factors is the constant pressure of improving productivity of shrinking farmlands to meet the food need of increasing population.
On contrary, high manufacturing cost, environmental factors and strict regulations for use of coated products will continue to act like constraints to the growth of the controlled release fertilizers market.
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Controlled Release Fertilizers Market – Segmentation
The controlled release fertilizers market can be segmented on the basis of product type, application and geography.
On the basis of product type, the controlled release fertilizers market can be segmented into the following categories:-
- Polymer coated NPK fertilizer
- Polymer sulphur coated urea/sulphur coated urea
- Polymer coated urea
On the basis of application, the controlled release fertilizers market can be segmented into the following categories:-
- Fruits & vegetables
- Cereals & Grains
- Oilseeds & Pulses
Among all the above mentioned applications, they are extensively used by farmers for growing cereals and grains.
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Analysis of Controlled Release Fertilizers Market based on regions
On the basis of geography, the controlled release fertilizers market can be divided into five key regions. They are:-
- North America
- Latin America
- Middle East and Africa
Mainly due to adoption of sophisticated farming technologies and adoption of novel agricultural practices in cereals and grains production within United States, the North American region is likely to dominate the market in the forecasted period.
Being the largest producer of fruits and vegetables, Europe is likely to see growth for the controlled release fertilizers market in the forecasted period.
When we look at Asia-Pacific region, there are countries like India and China, where there exists large population pool or the population is increasing at an alarming rate. With such large population there is likely to have a shortage of arable land and thus the pressure built up to enhance per hectare output of lands will propel growth for the controlled release fertilizers market.
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Controlled Release Fertilizers Market – Major Players
Names of the few major players in this segment are as provided below:-
- Kingenta Ecological Engineering Group Co. Ltd. (China)
- EuroChem Agro Gmbh (Germany)
- Yara International ASA (Norway)
- Haifa Chemicals Ltd. (Israel)
- Agrium, Inc. (Canada)
- The Chisso Corporation (Japan)
- The Scotts Miracle-Gro Company (Ohio)
- Nufarm Ltd. (Australia)
- Israel Chemicals Ltd. (Israel).
Most of the players are adopting strategies like acquisitions, collaborations, new product developments and expansion to new geographies in order to grow.
Controlled Release Fertilizers Market – Key Developments
- August, 2015 – Introduction of a new controlled release fertilizer by Haifa group, which is coated urea granule that offers a continuous supply of nitrogen for 16 months
- August, 2014 - Koch Agronomic Services acquired Turf and Ornamental (T&O) assets, brands and product technologies of Agrium Advanced Technologies.
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