Global Controlled-Release Fertilizers Market Industry Size, Share, Analysis, Trend & Future Planning 2022
Bharat Book Bureau Provides the Trending Market Research Report on “Global Controlled-Release Fertilizers Market Forecast to 2022” underFood & Beverages. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects.
Controlled-Release Fertilizers Market is projected to grow at aCAGR of 6.29% during the forecast period
The controlled-release fertilizers market is estimated at USD 1.56 billion in 2017, growing at a CAGR of 6.29% from 2017, to reachUSD 2.12 billion by 2022. This market has been gaining prominence among farmers to improve the agricultural yield and curb excessive nutrient application. Factors such as growing demand for high efficiency fertilizers and increasing awareness about the environmental concerns associated with excessive fertilizer use across the world are projected to drive the controlled-release fertilizers market. However, factors such as the high cost of polymer coatings for coated & encapsulated fertilizers and the low adoption rate of technology in developing markets affect the growth of the controlled-release fertilizers market.
Fruits & vegetables segment to grow at the highest rate during the forecast period
On the basis of crop type, the fruits & vegetables segment is projected to grow at the highest rate during the forecast period. The increasing cultivated areas under fruits & vegetables in regions of North America, Asia Pacific, and Europe are projected to drive the application of controlled-release fertilizers in fruits and vegetables for improving the yield.
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Fertigation segment, by application method, led the market in 2016
On the basis of application method, the fertigation segment dominated the market in 2016, in terms of value and volume, due to the rising area under irrigation across the globe and benefits associated with fertigation such as uniform application, reduced labor, and higher application rate for larger fields, which are also projected to drive the fertigation method of application.
Asia Pacific is projected to grow at the highest rate during the forecast period
Asia Pacific is projected to be the fastest-growing region in the controlled-release fertilizers market between 2017 and 2022. The Asia Pacific region has been experiencing significant demand for controlled-release fertilizers due to the need to undertake efforts to minimize the environmental concerns associated with nutrient losses. There has been an increasing consumption of coated fertilizers seen in countries such as Japan and China, while the consumption of stabilizers has been increasing in the developing countries of the region. These have been subsequently driving the growth of the controlled-release fertilizers market.
The controlled-release fertilizers market is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia Pacific, South America, and the Rest of the World (RoW).
Breakdown of the profile of primary participants is as follows:
- By Company Type: Tier I – 45 %, Tier II – 30%, and Tier III – 25%
- By Designation: C level – 55%, D level – 30%, and Others – 15%
- By Region: Europe – 15%, Americas – 20%, Asia Pacific – 40%, and RoW – 25%
The market is dominated by key players such as Agrium (Canada), Yara (Norway), ICL (Israel), ScottsMiracle-Gro (US), Kingenta (China), SQM (Chile), Haifa Chemicals (Israel), Koch Industries (US), AGLUKON (Germany), COMPO EXPERT (Germany), Helena Chemical (US), and JCAM AGRI (Japan).
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