Market Scope
Market Research Future (MRFR) studied the global Controlled-Release Fertilizers market size 2021 for the analysis period till 2027. As per MRFR analysis, the controlled release fertilizer market can register a 6.53% CAGR in the forecast tenure. By 2027, the controlled release fertilizer market value can touch USD 3.09 Bn.
Drivers and Restrains Impacting Controlled-Release Fertilizer Market
The high demand for high-efficiency fertilizers and growing focus on curbing nutrient losses are major causes that can drive the growth of the global controlled release fertilizer market size. Farmers are focusing on improving their crop production and are adopting advanced farming technologies. The utility of controlled-release fertilizers decreases the loss of nutrients, thus requires less amount of fertilizer compared to conventional fertilizers. The reduction in cultivation cost and the increase in profit margin for farmers, along with surge in the crop yield can promote the growth of controlled release fertilizer market. On the contrary, lack of expertise and less supply of effective counterfeit products are some challenges that the players operating in the market can encounter.
Key Players
BASF SE (Germany), Koch Agronomic Services, LLC. (U.S.), Nutrien Ltd. (Canada), ICL (Israel), Yara International ASA (Norway), AGLUKON Spezialdünger GmbH & Co. KG (Germany), Ekompany (Netherlands), COMPO EXPERT (Germany), Kingenta (China), Haifa Chemicals Ltd. (Israel), and The Scotts Company LLC (U.S.) are some reputed companies in the global Controlled-Release Fertilizers market size that are enlisted by MRFR.
Market Segmentation:
The global Controlled-Release Fertilizers market size’s segment study is done by type, crop type, and mechanism.
Based on type, the worldwide Controlled-Release Fertilizers market size is segmented into controlled release inorganic fertilizers (CRIF), controlled release organic fertilizers (CROF), controlled release coated urea (CRCU), and controlled release coated fertilizers (CRCF) others. The segment of CROF is sub-segmented into synthetic organic compounds and natural organic compounds. The synthetic organic compounds segment comprises isobutylene-diurea (IBDU), urea formaldehyde (UF), and urea acetaldehyde/cyclo diurea (CDU). The natural organic compounds segment studies animal manure and sewage sludge.
The CRIF segment is sub-segmented into partially acidulated phosphate rock (PAPR) and metal ammonium phosphates. The metal ammonium phosphates segment comprises MgNH4PO4 and KNH4PO4. The segment of CRCF is sub-segmented into matrix coating and coated granules. The segment of coated granular CRFs is further sub-segmented into polymer coating materials (resins and thermoplastics) and inorganic coating materials (sulfur and other types of minerals). The matrix coating segmented is studied for and hydrophilic matrix coating (hydrogels) and hydrophobic matrix coating (polyolefin and rubber). The segment of CRCU is sub-segmented into CRCU with a polymer-based coating material, CRCU with a sulfur-based coating material, CRCU with bio-composite coating material, and CRCU with a superabsorbent coating material (hydrogel) among other. The CRCU segment can dominate the global market due owing to increasing utility of urea-based fertilizer as they have high nitrogen content (46%) and are ease of application, as well as are affordable.
Based on the mechanism of controlled release, the worldwide Controlled-Release Fertilizers market size is studied for diffusion mechanism and osmosis mechanism. The segment of diffusion mechanism can hold a significant share of the worldwide market by 2027 as due to its advantages over osmosis mechanism. Controlled release rate and increasing consumption of polymer-based controlled release fertilizers than sulfur-based fertilizers can support market surge.
Based on crop type, the worldwide Controlled-Release Fertilizers market size is studied for agriculture, ornamental & nurseries, and turf & lawns. The agriculture application segment is likely to secure the highest share of the market due to increasing need for food production as the population keeps expanding across the globe.
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Regional Analysis
The ‘worldwide Controlled-Release Fertilizers market size’s regional analysis spans across five regions; Asia Pacific, Europe, Latin America, North America, and the Middle East Asia and Africa. In North America, the Controlled-Release Fertilizers market size is expected to secure the highest share, followed by Europe and trailed by the Asia Pacific region. In the Middle East Asia and Africa as well as Latin America, the regional market is expected to a moderate surge in demand for controlled release fertilizers during the forecast period. The market of controlled release fertilizers in the Asia Pacific region can acquire decent market share. The rise in demand for high-value crops and spreading awareness about modern solutions among farmers about environmental benefits of controlled release fertilizers can provide wide scope for market expansion in Asia Pacific countries.
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