North America Controlled Release Fertilizers Market to reach $1.26 mn by 2024
Posted: Dec 29, 2018
According to the Graphical Research "North America Controlled Release Fertilizers Market analysis based on Crop, Product, Regional Outlook & Forecast, 2018 – 2024", estimated to reach USD 1.26 million by 2024.
Controlled release fertilizers have been proved to be an effective substitute to the conventional fertilizers, on account of their resource-saving and environmentally friendly features. The U.S. has been predicted to be the 3rd highest populated country by 2050 – with an estimated populace of 395 million. As per the WHO report, an increase of 50% in agricultural yield will be needed to fulfil the growing food demand across the globe. Controlled release fertilizers will hold robust potential in future years to suit the advanced agricultural practices.
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Controlled release fertilizers (CRF) have long operational life; they not only improve the fertility of land, but also enhance the crop yield. Increasing uncertainty of climatic conditions leading to irregularity in yield will divert the focus of agro sector towards sustainable agriculture practices, thereby influencing the product demand in future. Ability of CRF to maintain the nutrient quality of the soil throughout the harvest season will drive the regional market growth. Stringent regulatory framework encouraging the growers to lessen fertilizer overflow in water streams, will further propel North America controlled release fertilizers market size over the forecast timespan. Higher pricing of these engineered fertilizers as compared to the conventional fertilizers including: NPK and urea fertilizers may hinder the market growth during forecast span.
North America controlled release fertilizers market will observe highest gains by polymer sulfur coated urea over the forecast period with a CAGR above 4%. Sulfur coated urea substantially enhances nitrogen absorption capacity of soil and thus, retains the nutritive content needed for the crops.
Cereals & grains contributed above 15% share in 2017 in North America controlled release fertilizer market. However, the regional CRF industry will have the highest demand for other crops segment involving: ornamental plants, turf, etc. with a share over 65% over the forecast period.
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Key manufacturers in the market have been: ICL Specialty Fertilizers, Haifa Chemicals, Scotts Miracle-Group, etc. Manufacturers have been investing in advanced fertilizer compositions for instance, ICL launched Osmocote Iron CRF in November 2016, which was designed to increase the nutrient efficiency of plants - lacking iron. The product involved ICL’s E-Max Release Technology, for delivering a steady supply of sulfur and iron.
Segments We Cover:
North America Controlled Release Fertilizers Market Statistics, By Product
Polymer Sulfur Coated Urea/ Sulfur Coated Urea, Polymer Coated Urea, Polymer Coated NPK Fertilizer, Others
North America Controlled Release Fertilizers Market trends, By Crop
Cereals & grains, Oilseeds & pulses, Fruits & vegetables, Others
The above information is provided on a regional and country basis for the following:
Browse key industry insights from this 2018 report @ https://www.graphicalresearch.com/industry-insights/1029/north-america-controlled-release-fertilizers-market
1. Europe Controlled Release Fertilizers Market Share by Crop (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), By Product (Polymer Sulfur Coated Urea/Sulfur Coated Urea, Polymer Coated Urea, Polymer Coated NPK), Regional Outlook (UK, Germany, France, Spain, Italy, Russia), Industry Analysis Report, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services.