Controlled Release Fertilizer Market 2019
Description: –
Controlled release fertilizer is granules coated with resin or polymer. The resin coat limits the moisture contact and helps the granules to release the fertilizer gradually. Conventional fertilizers are water-soluble and release the fertilizer quickly; on the other hand, controlled release fertilizer is not water-soluble and progressively releases the nutrients into the soil. The surrounding air temperature and the thickness of the resin coating decide the release of the nutrients.
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Key Players
Nutrien (Canada),Yara International (Norway), Sociedad Quimica Y Minera De Chile SA (Chile), Scotts Miracle Gro (U.S), Compo GmbH & Co. KG (Germany), Israel Chemicals Ltd. (Israel), Haifa Group (Israel),ATS (Growth Products) (U.S),JNC Corporation (Chisso) (Tokyo), and Kingenta International (China) are some of the key players in the Global Controlled Release Fertilizer market.
There are plenty of benefits in using controlled release fertilizer. They include ease of use, reduced application costs, and reduced environmental impact. By using these fertilizers, the grower knows that the plants will receive nutrients regardless of weather conditions. Controlled release fertilizer reduces labor costs by reducing the need for injection equipment, mix and monitor water-soluble fertilizers, and improper mixing of fertilizer solution that can compromise crop quality.
The drivers identified in the controlled release fertilizer market include shrinking farmlands, high-efficiency fertilizer, and environmentally friendly operation while the restraints in this market include a fixed rate of nutrient release, high production cost, and lack of awareness among farmers.
Segments
The globally controlled release fertilizer market is segmented by product and application. By product, it is divided into polymer sulfur coated urea/sulfur coated urea, polymer-coated urea, polymer coated NPK, and others. Based on application: controlled release fertilizer market is classified into cereals and grains, oilseeds and pulses, fruits and vegetables, and others.
During the last four decades in crop production, especially in wheat and maize, the nitrogen application rate jumped to 15 times, whereas crop accumulation of nitrogen increased only to 3 to 4 times. At the same time, crop nutrient recovery levels remained low. This scenario creates an alarming environmental and economic situation. At this juncture controlled release fertilizer market with its benefits of ease of use, reduced environmental impact, and low application cost gains importance. Moreover, higher global revenue from these products is predicted to boost the market during the forecast period.
Regional Analysis
Asia-Pacific dominates the global market of controlled release fertilizer. The reason attributed is due to the presence of vast agricultural lands, coupled with growing awareness about sustainable cultivation. The presence of several agro-based economies such as India, China, Malaysia, and Thailand, are predicted to be significant players in attracting the regional market. Increasing consumables in the garden and lawn market in the Asia-Pacific region will boost the growth of the controlled release fertilizer market during the forecast period. Increased awareness about landscaping and gardening will act as a catalyst and stimulate growth. North American controlled release fertilizer market has witnessed consistent growth and is expected to boost the market opportunities in the future. This market accounts for a significant share in the revenue of the North American region.
Industry News
The leading players in the controlled release fertilizer market adopt strategies such as acquisitions, mergers, and launching new products to strengthen their foothold in the industry. The strategic partnership between companies characterizes the controlled release fertilizer market landscape. Companies are developing user-friendly software applications to improve crop yield and to maintain their market positions. Some companies even provide software packages to educate farmers across the world to boost crop health.
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Table of Contents – Major Key Points
- Overview And Scope
- Executive Summary
- Market Insights
- Industry Trends
- Global Controlled Release Fertilizer Market Analysis, by Application, 2018 – 2026 (US$ Bn)
- Global Controlled Release Fertilizer Market Analysis, by Type, 2018 – 2026 (US$ Bn)
- North America Controlled Release Fertilizer Market Analysis, 2018 – 2026 (US$ Bn)
- Europe Controlled Release Fertilizer Market Analysis, 2018 – 2026 (US$ Bn)
Continued…
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