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$3.59+ Billion Worldwide Controlled Release Fertilizer Industry to 2031 - Increasing Adoption of Modern Agriculture Practices is Significantly Driving Growth
Global Controlled Release Fertilizer Market
Dublin, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The "Controlled Release Fertilizer Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global controlled release fertilizer market.
The global controlled release fertilizer market is expected to grow from $2.66 billion in 2021 to $2.82 billion in 2022 at a compound annual growth rate (CAGR) of 6.2%. The controlled release fertilizer market is expected to grow to $3.59 billion in 2026 at a CAGR of 6.2%.
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Major players in the controlled release fertilizer market are Yara International, Agrium Inc., Kingenta Ecological Engineering Co. Ltd., ICL Group, Haifa Chemicals, Scotts Miracle-Gro Company, Nutrien, Koch Industries, Compo Expert, Helena Agri-Enterprises LLC, JNC Corporation, Sociedad Quimica y Minera de Chile, Ekompany International B.V, Jcam Agri, Aglukoon, and Greenfeed Agro Sdn Bhd.
The controlled release fertilizer market consists of the sales of controlled-release fertilizers by entities (organizations, partnerships, and sole proprietors) that are highly advantageous for agriculture, silviculture, and horticulture. Controlled-release fertilizers (CRFs) are granular fertilizer particles covered with a resin or polymer that limits moisture contact and serves to dissolve the fertilizer particles, allowing the fertilizer to be released gradually over time.
The main product types of controlled release fertilizers are polymer sulfur-coated urea/sulfur-coated urea, polymer-coated urea, and polymer-coated NPK. Polymer-coated urea is urea granules that have been coated with a polymer that inhibits urea release into the soil. The controlled release fertilizers are available in liquid, a granular and powdered form that is used for foliar, fertigation, soil, and other applications. The various end-uses include agriculture, cereals and grains, oilseeds and pulses, vegetables, fruits, and plantation crops.
The Asia Pacific was the largest region in the controlled release fertilizer market in 2021 and is expected to be the fastest-growing region in the forecast period. The regions covered in the controlled release fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increasing adoption of modern agriculture practices is significantly driving the growth of the controlled release fertilizer market. Modern agriculture is an expanding approach to agricultural inventions and farming practices that assist farmers to boost efficiency and minimize the number of natural resources needed to meet the world's food, fuel, and fiber demands, such as water, land, and energy.
Controlled release fertilizers examine precision fertilizer applications utilizing the 4-R approach-the right amount of fertilizer at the right time to the right plant at the right stage of growth. According to the World Bank report, an international financial institution, 'Enabling the Business of Agricultural 2019', the global business climate for agriculture is developing as over two years, 47 of the 101 nations analyzed made 67 regulatory measures to make it simpler for farmers to manage insect outbreaks, obtain quality seeds, and obtain loans to invest in production.
This increases the adoption of modern agriculture practices. This report further delineated that worldwide agricultural production is predicted to expand by 20% over the next decade as farming techniques become more effective. Hence, the increasing adoption of modern agriculture practices is expected to propel the growth of the controlled release fertilizer market going forward.
Technological advancement is a key trend gaining popularity in the controlled release fertilizer market. Major companies operating in the controlled release fertilizer sector are focused on developing technologically advanced products to strengthen their position.
For instance, in September 2021, ICL Group, an Israel-based company that develops, produces, and markets fertilizers, metals, and other special-purpose chemical products, introduced the fifth version of its Osmocote controlled-release fertilizer. Osmocote 5 has a distinctive nutrient matching release technology as well as an upgraded Optimised Trace Element Availability (OTEA) system that matches plants' needs throughout the release program, resulting in increased plant health, color, and growth. Considering the inclination to minimize or remove peat, Osmocote 5 has a slightly increased Nitrogen concentration to enhance growth.
The countries covered in the Controlled Release Fertilizer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Report Attribute | Details |
No. of Pages | 175 |
Forecast Period | 2022 - 2026 |
Estimated Market Value (USD) in 2022 | $2.82 billion |
Forecasted Market Value (USD) by 2026 | $3.59 billion |
Compound Annual Growth Rate | 6.2% |
Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Controlled Release Fertilizer Market Characteristics
3. Controlled Release Fertilizer Market Trends And Strategies
4. Impact Of COVID-19 On Controlled Release Fertilizer
5. Controlled Release Fertilizer Market Size And Growth
5.1. Global Controlled Release Fertilizer Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Controlled Release Fertilizer Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Controlled Release Fertilizer Market Segmentation
6.1. Global Controlled Release Fertilizer Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Polymer Sulfur Coated Urea/Sulfur Coated Urea
Polymer Coated Urea
Polymer Coated NPK
6.2. Global Controlled Release Fertilizer Market, Segmentation By Form, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Liquid
Granular
Powder
6.3. Global Controlled Release Fertilizer Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Foliar
Fertigation
Soil
Other Applications
6.4. Global Controlled Release Fertilizer Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Agriculture
Cereals And Grains
Oilseeds And Pulses
Vegetables
Fruits And Plantation Crops
7. Controlled Release Fertilizer Market Regional And Country Analysis
7.1. Global Controlled Release Fertilizer Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Controlled Release Fertilizer Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/srvpgo
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