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Europe Controlled Release Fertilizer Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028
The Europe Controlled Release Fertilizer Market is projected to register a CAGR of 4.75%. Key Highlights. Largest Segment by Type - Complex : Complex controlled release fertilizers can provide multiple nutrients at a constant rate to the crops, that it does not loose nutrients due to leaching or volitilization.
New York, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Controlled Release Fertilizer Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381445/?utm_source=GNW
Largest Segment by Coating Type - Polymer Coated : They are very effective in supplying all the essential primary and secondary nutrients coupled with micronutrients. Reduce the need for multiple fertilizer applications.
Largest Segment by Crop Type - Field Crops : The domination of field crops in Europe Fertilizers market is mainly due to its large cultivation area in the region. They account for more than 95% of total crop area.
Largest segment by Country - Ukraine : Need for high productivity on the available land to meet the growing demand for food which is attributed to growing population.It accounts for about 4.46% of Europe crop area.
Key Market Trends
Polymer Coated is the largest segment by Coating Type.
The European controlled-release fertilizer market has grown significantly by 44.67% during the study period. Polymer-coated CRF, among all the other coating types, held the major share of 57.7% in 2021.
The value of polymer-coated controlled-release fertilizers increased by 44.03% during the study period, while the volume increased by 1.58%. According to the ECHA, Polyurethanes, Polyethylene co vinyl acetate, Ethylene acrylic acid copolymer, Formaldehyde-naphtalensulfonic acid condensate sodium salts, and Alkyds based on vegetable oils are the types of polymer coating done in the region.
The European Union set the rules and regulations for controlled-release fertilizers, including polymer encapsulation systems, which are currently under the scope of future restrictions until they are developed to be biodegradable within 2026.
The other coating types segment held a share of 15.14% in the market studied in 2021; it increased by 45.49% during the study period. All the other types of coatings in the region are used for field crops, such as wheat, barley, maize, soybean, rye, rice, rapeseed, etc., as they are intensively cultivated across all the major countries.
Hence, the other coating types segment of controlled-release fertilizers, particularly biodegradable and polymer-based ones, has the highest market potential during the forecast period.
Ukraine is the largest segment by Country.
The controlled-release fertilizer market in Europe is observed to have notably stable growth across all countries in the region, with Ukraine occupying the largest share of 9.09 % in the market, followed by Spain for the year 2021.
The ongoing demand for fruits and vegetables in Spain is one of the major drivers of the expansion of production activity. Demand for the production of grapes and onions in Spain is expected to drive the demand for controlled-release coated fertilizers during the forecast period. The application of controlled-release fertilizers results in the yield of grapes as 70 metric ton per hectare, while the average yield by conventional fertilizers is 30-40 metric ton per hectare. Thus, increased usage of polymer-coated CRFs has led to growth in the overall market revenue of controlled-release fertilizers in Spain.
By coating type, polymer-coated fertilizers occupied the largest share of the market and accounted for about 51.14% of the overall market share in the year 2021.
In the United Kingdom, there is a 10.4% rise in the value of the overall market, which can be majorly attributed to the Russia-Ukraine war that started in the first quarter of the year 2022, leading to high fertilizer prices in the country due to the shortage of supply.
France is one of the major agricultural producers across the world. It produced 5.2 million metric ton of fruit in 2021, making it the fourth-largest European fruit producer after Spain. Thus, to maintain the quality and production of crops along with the benefits of controlled release fertilizer, like controlling the leaching losses, reducing vaporization, and limiting the number of applications, the demand is forecasted to grow in the study period.
Competitive Landscape
The Europe Controlled Release Fertilizer Market is fairly consolidated, with the top five companies occupying 69.12%. The major players in this market are Compo Expert GmbH, Ekompany International BV (DeltaChem), ICL GROUP LTD, Kingenta Ecological Engineering Group Co., Ltd. and Nutrien Ltd. (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06381445/?utm_source=GNW
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