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Global Controlled Release Fertilizer Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028
The Global Controlled Release Fertilizer Market is projected to register a CAGR of 6.22%. Key Highlights. Largest Segment by Type - Straight : CRF Urea releases nitrogen in a gradual manner.
New York, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Controlled Release Fertilizer Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381434/?utm_source=GNW
As nitrogen is the most applied fertilizer, CRF Urea can prevent nitrogen mineralization that degrades the soil quality.
Largest Segment by Coating Type - Polymer Coated : The polymer-coated fertilizers release the nutrients for a longer duration and decrease the leaching losses of fertilizers in the soil. They also reduce the application rate.
Largest Segment by Crop Type - Field Crops : Field crops are widely cultivated worldwide and are a staple food in many parts of the world. They account for a maximum share by area in most agricultural countries.
Largest segment by Country - United States : China is the most populous country in the world. It has a large cultivable land with a high fertilizer application rate per hectare in order to maximize crop yields.
Key Market Trends
Polymer Coated is the largest segment by Coating Type.
Controlled-release fertilizers (CRFs) account for about 16.8% of the total global fertilizer market value, valued at about USD 12.67 billion in 2021. Field crops dominated the market and accounted for about 86.5% of the market value in 2021, majorly due to their large cultivation area around the world.
Among CRFs, polymer-coated fertilizers dominated the market and accounted for about 62.6% of the market value, valued at about USD 7.91 billion in 2021. Polymer-coated CRF is an advanced type of CRF where the fertilizer granule is coated with polymers to allow the nutrients to escape from it gradually, leading to very less loss of nutrients.
The Asia-Pacific region dominated the global controlled-release fertilizer market and accounted for about 62.6% of the market value, valued at about USD 7.91 billion in 2021 due to the dominance of field crops in the region and concern over nitrate pollution. The region’s market value is anticipated to increase by about 40.0% and reach USD 12.08 billion by the end of the forecast period.
There is a steady increase in the global controlled-release fertilizer market in terms of volume. The fluctuations in the market value are due to fluctuations in fertilizer prices. The prices of controlled-release fertilizers mainly depend on the technology used by the manufacturers for coating the fertilizers.
The global controlled-release fertilizer market is projected to grow during the forecast period owing to their higher efficiency and fewer nutrient losses leading to less environmental pollution. Increased awareness among the farmers and increased availability will also drive the market.
North America is the largest segment by Region.
North America dominates the global controlled-release fertilizer market. In the region, the United States is the largest market for controlled-release fertilizers accounting for 81.9% of the market in 2021. The country has shown 70.4% growth during the study period.
Europe occupied the second largest market share in the global controlled-release fertilizer market. 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 Asia-Pacific region is the third largest market for controlled-release fertilizers in the world. China dominates the APAC controlled-release fertilizers market by accounting for about 56.72% of the market share in 2021. Polymer-coated fertilizers recorded the highest share in the controlled-release fertilizers market, followed by polymer sulfur-coated fertilizers. Polymer coated fertilizers segment was valued at USD 91.5 million in 2017 and is anticipated to reach USD 170.3 million by the end of the forecast period.
Control-release urea is the most commonly used form of CRF in the world. Nitrogen loss is one of the main problems faced by rice farmers, and the efficiency of nitrogen utilization in rice is often inadequate. This is due to the large loss of nitrogen due to volatilization, leaching, and denitrification. One way to improve nitrogen efficiency is to use control-release urea. Controlled-release urea generally outperformed granular urea fertilizers in reducing nitrogen loss, stimulating plant growth, and increasing nitrogen concentration.
The increased efficiency of controlled-release fertilizers will drive the market during the forecast period.
Competitive Landscape
The Global Controlled Release Fertilizer Market is fragmented, with the top five companies occupying 24.11%. The major players in this market are Florikan, ICL Speciality Fertilizers, Kingenta Ecological Engineering Group Co., Ltd., Nutrien Ltd. and Sociedad Quimica y Minera de Chile SA (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
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