Controlled-Release Fertilizers Market Worth 2.12 Billion USD by 2022
PUNE, India, January 11, 2018 /PRNewswire/ --
The report "Controlled-Release Fertilizers Market by Type (Slow-release, Coated & Encapsulated, N-Stabilizers), Crop Type (Cereal & Grain, Oilseed & Pulse, Fruit & Vegetable, Plantation, Turf & Ornamental), Application Method, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow at a CAGR of 6.29% from an estimated value of USD 1.56 Billion in 2017 to reach USD 2.12 Billion by 2022.
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Browse 139 market data Tables and 55 Figures spread through 188 Pages and in-depth TOC on "Controlled-Release Fertilizers Market - Global Forecast to 2022"
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The market is driven by factors such as the rise in demand for high efficiency fertilizers, growth in research on cost-effective polymer coatings for coated & encapsulated fertilizers, and the impact of controlled-release fertilizers on controlling nutrient losses to the environment.
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Cereals & grains segment is projected to be the most important crop type for Controlled-Release Fertilizers Market
The fertilizer application on cereals & grains was seen to be the highest in the US and Asia Pacific countries. Stabilizers and coated fertilizers have been widely used on corn and wheat cultivation in countries such as the US, China, and India, while coated fertilizers are widely used in Japan for rice. An increase in demand has been witnessed for controlled-release fertilizers from developing regions as well due to the increasing awareness about sustainable agricultural practices. Hence, the cereals & grains segment dominated the Controlled-Release Fertilizers Market in 2016.
Coated & encapsulated segment, by type, is projected to remain in the higher growth curve in the next five years
The adoption of these fertilizers is increasing globally due to the growth in awareness about the benefits associated with coated fertilizers and government support provided by various countries in terms of subsidies and policy amendment. Due to the simplicity and low cost of using sulfur as a coating material, sulfur-coated fertilizers have been the most commonly used coated products in the developing nations. To obtain a further reduction of the total fertilizer costs, coated & encapsulated fertilizers are increasingly used in blends with conventional fertilizers in different ratios, owing to which, coated fertilizers in conjunction with nutrients are researched on by key players.
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Significant competition to capitalize the market potential among international manufacturers in the Asia Pacific and South American regions
Rise in export quality requirements for agricultural products and increasing adoption of sustainable agriculture practices in countries such as China, India, Brazil, and Argentina are expected to drive the demand for controlled-release fertilizers among the farmers in the Asia Pacific and South American regions during the forecast period. This would increase the inflow of various international manufacturers to set up their business units and distribution networks, thereby leading to a strong market competition.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include Agrium (Canada), Yara (Norway), ICL (Israel), Kingenta (China), and Helena Chemical (US), which are some of the well-established and financially stable players that have been operating in the industry for several years. Other players include ScottsMiracle-Gro (US), SQM (Chile), Haifa Chemicals (Israel), Koch Industries (US), AGLUKON (Germany), COMPO EXPERT (Germany), and JCAM AGRI (Japan).
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