CHICAGO, March 9, 2020 /PRNewswire/ -- According to the new market research report "Controlled-release Fertilizers Market by Type (Slow-release, Coated & Encapsulated, N-Stabilizers), End-Use (Agricultural & Non-agricultural), Mode of Application (Fertigation, Foliar, and Soil), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Controlled-release fertilizers market is estimated at USD 2.4 billion in 2020 and is projected to grow at a CAGR of 6.3% from 2020 to 2025, to reach USD 3.2 billion by 2025. The market for controlled-release fertilizers is projected to grow at a steady rate due to factors such as an increase in demand for highly efficient fertilizers, favorable government regulations, a rise in demand for high-value crops, and an increase in the number of investments from key players in this market.
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The growing environmental concerns associated with nutrient loss through soil leaching and runoffs from fields on the using excess conventional fertilizers are effectively addressed by these fertilizers. Owing to the gradual release of nutrients from controlled-release fertilizers, excess nutrients on the soil are eliminated, which minimizes the possibility of nutrient loss. Owing to this advantage, various government bodies have been encouraging the use of these fertilizers to curb further environmental degradation from conventional fertilizers. Moreover, there is a considerable reduction in application costs by adopting this technology since labor requirement is less due to the fertigation method, elimination of multiple application cycles, and ease in handling these products.
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The agricultural segment is projected to be the faster-growing segment in the controlled-release fertilizers market during the forecast period.
As the market demand shifts towards the usage from NPK fertilizers to controlled-release fertilizers in the developing economies, there is an increase in demand for controlled-release fertilizers. The manufacturers are continuing research efforts to develop cheaper and better coatings/materials to reduce the overall cost and encourage the adoption of this technology.
The slow-release segment is projected to record the fastest growth during the forecast period.
The slow-release segment is projected to be the fastest-growing segment. Urea-formaldehyde fertilizers are most effective in high temperatures and are hence used in regions with warm climatic conditions such as the Asia Pacific Mediterranean region in Europe and the southwestern region of the US.
The fertigation segment is projected to record the fastest growth during the forecast period.
The demand for controlled-release fertigation has been mostly concentrated in high-value crops such as fiber crops (jute and cotton), plantation crops (cocoa, pepper, and rubber), and ornamentals, as they require the application of fertilizers to improve the crop quality and yield.
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The Asia Pacific region is projected to account for the largest market share during the forecast period.
Asia Pacific dominates the market, with 49% of the global market share. The government policies adopted by Asia Pacific countries and large subsidies, in certain countries up to 100% for marginal farmers, provided on fertilizers are the major factors triggering the growth of this market in the region. R&D investments in the development of coated fertilizers and the installation of new production capacities by key players are also expected to boost the market in the next five years.
This report includes a study of marketing and development strategies along with the product portfolios of leading companies in the controlled-release fertilizers market. It includes the profiles of leading companies such as Nutrien Ltd. (Canada), Yara International ASA (Norway), ICL (Israel), ScottsMiracle-Gro (US), Koch Industries (US), Helena Chemical (US), Kingenta (China), SQM (Chile), Haifa Chemicals (Israel), JCAM AGRI. (Japan), COMPO EXPERT (Germany), Nufarm Ltd. (Australia), The Andersons Inc. (US), Van Iperen International (Netherlands), Mosaic Company (US), OCI Nitrogen (Netherlands), AgroLiquid (US), DeltaChem (Germany), SK Specialties (Malaysia), and Pursell Agri-Tech (US). New product launches, expansions, agreements, and acquisitions have been the areas of focus of these manufacturers to gain better penetration in the developing markets of Asia Pacific and South America.
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