IMARC Group has recently released a new research study “Controlled Release Fertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Controlled Release Fertilizer Industry?
The global controlled release fertilizer market size reached US$ 2.75 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3.95 Billion by 2027, exhibiting a growth rate (CAGR) of 6.10% during 2022-2027.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is Controlled Release Fertilizer?
Controlled-release fertilizers (CRFs) are granular fertilizers coated with inorganic or organic materials that gradually release nutrients into the soil for plants. They are soluble in water and possess a controllable rate, pattern, and duration of nutrient release, which depends on the temperature of the soil and the thickness of the coating outside of the granules. As a result, they save time, improve nutrient efficiency, minimize nutrient and fertilizer loss, increase crop yields, reduce application, and labor costs and environmental impact, and offer optimal plant development. Owing to these properties, CRF is gaining immense traction among farmers for enhancing crop yield and quality.
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What Are The Key Factors Driving The Global Controlled Release Fertilizer Market?
The market is primarily driven by the rising food demand and the growing population across the globe. In addition, the increasing use of CRFs to enhance soil properties, improve land productivity, and meet the surging demands of individuals is contributing to market growth.
Moreover, governments of various countries are taking initiatives to promote the use of CRF by providing tax credits and incentives, representing another major growth-inducing factor. Besides this, the widespread adoption of sustainable agricultural practices due to a shortage of food crops and adverse climatic conditions is providing a positive thrust to market growth. Furthermore, extensive investment in research and development (R&D) activities to develop advanced technologies such as suspension polymerization for the slow release of fertilizers and mergers and acquisitions (M&A) amongst key players are also creating a favorable market outlook across the globe.
For the competitor segment, the report includes global key players of the controlled release fertilizer market.
AGLUKON Spezialduenger GmbH & Co. KG, COMPO Expert GmbH (Grupa Azoty S.A.), DeltaChem GmbH, Haifa Group, ICL Group Ltd., JNC Corporation, Kingenta Ecological Engineering Co. Ltd., Mivena BV, Nufarm, Sociedad Química y Minera de Chile S.A., The Mosaic Company and Yara International ASA.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Condensation Products of Urea and Aldehydes
- Urea Formaldehyde (UF)
- Isobutylidenediurea
- Crotonylidenediurea
- Coated and Encapsulated Fertilizers
- Sulfur-coated Fertilizers
- Polymer-coated Fertilizers
- Sulfur-polymer Coated Fertilizers
- Others
- Others
Breakup by Form:
- Granular
- Liquid
- Powder
Breakup by Application:
- Grains and Cereals
- Pulses and Oilseeds
- Commercial Crops
- Fruits and Vegetables
- Turf and Ornamentals
- Others
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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