Controlled Release Fertilizers Market Surpasses US$ 5.57 billion by 2032, Reflecting Sustained Growth – By PMI
Prophecy Market Insights latest research report on the Controlled Release Fertilizers Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Oct. 09, 2023 (GLOBE NEWSWIRE) — Controlled release fertilizers are granulated fertilizer which help in releasing nutrients with controlled release period into the soil. They are also known as delayed-release fertilizer, controlled-availability fertilizer, slow-acting fertilizer, or metered-release fertilizer.
Growing agriculture sector coupled with increased demand for fertilizers to improve crop quality and productivity has provided lucrative opportunities in target market growth. Use of fertilizer to enhance the natural fertility of soil and surge in demand for food products across globe has further, facilitated the demand for market growth. Further, growing investment in sustainable and eco-friendly fertilizers is anticipated to increase the demand for Controlled Release Fertilizers market growth.
- In September 2022, ICL launched new era of controlled release urea ‘eqo.x’ which is biodegradable release technology developed for open field agriculture. The new launched technology has become a major advancement for sustainable agriculture & food security and thus, allows farmers to meet 2026 EU fertilizer standards.
Controlled-release fertilizers are specialty fertilizers used in applications such as fruits & vegetables, lawn & turf, nurseries and gardens. Growing agriculture industries across globe to fulfill need of growing population has powered the demand for Controlled Release Fertilizers market growth.
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|Base year for estimation||2022|
|Forecast period||2022 – 2032|
|Market representation||Revenue in USD Million & CAGR from 2022 – 2032|
|Market Segmentation|| By Type– Slow-release (Urea-formaldehyde, Urea-isobutyraldehyde, Urea-acetaldehyde, and Other slow-release fertilizers (Crotonylidenediurea)), Coated & encapsulated (Sulfur coatings, Polymer coatings, Sulfur-polymer coatings, and Other Coated Fertilizers (Condensation Polymers, Drying Oils, Waxes, and Bitumen)), and Nitrogen stabilizers (N-Stabilizers) (Nitrification inhibitors and Urease inhibitors)
By Application– Grains & Cereals, Pulses & Oilseeds, Commercial Crops, Fruits & Vegetables, Turf & Ornamentals, and Other Applications
|Regional scope|| North America – U.S., Canada
Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
Latin America – Brazil, Mexico, Argentina, Rest of Latin America
Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
|Report coverage||Revenue forecast, company share, competitive landscape, growth factors, and trends|
- Nutrien Limited
- Scotts Miracle Gro
- Yara International ASA
- Israel Chemicals Ltd
- Compo GmbH and Co. KG
- Haifa Group
- Sociedad Quimica Y Minera De Chile SA
- ATS (Growth Products)
- JNC Corporation (Chisso)
- Kingenta International
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Controlled Release Fertilizers Market growth:
- Increasing Global Population: The world’s growing population has led to increased demand for food production. Controlled release fertilizers offer a more efficient and sustainable way to enhance crop yields.
- Environmental Concerns: Environmental awareness and regulations have driven the adoption of CRF. These fertilizers release nutrients slowly, reducing the risk of nutrient runoff and water pollution.
- Efficiency and Cost-Effectiveness: CRF helps improve nutrient use efficiency, reducing the need for frequent applications. This can result in cost savings for farmers over time.
- Growing Demand for Specialty Crops: The demand for high-value specialty crops, such as fruits, vegetables, and ornamentals, has risen. CRF can be tailored to meet the specific nutrient requirements of these crops.
- Technological Advancements: Ongoing research and development efforts have led to the creation of more advanced CRF formulations, enhancing their performance and reliability.
Controlled Release Fertilizers Market future outlook:
- Sustainable Agriculture Practices: The emphasis on sustainability in agriculture is likely to drive the continued adoption of CRF. These fertilizers reduce nutrient runoff, which can lead to water pollution, making them a more environmentally friendly choice.
- Precision Agriculture: The integration of precision agriculture technologies, including sensors and data analytics, will enhance the effectiveness of CRF. Farmers can make more informed decisions about nutrient application, optimizing crop yields while minimizing waste.
- Environmental Regulations: Stringent environmental regulations aimed at reducing the negative impacts of conventional fertilizers may encourage more farmers to switch to CRF products. Governments and regulatory bodies may provide incentives to promote eco-friendly farming practices.
- Growing Global Population: With the world’s population expected to continue growing, there will be increased pressure on agriculture to produce more food. CRF can help improve crop yields and efficiency, making it a valuable tool for meeting food demand.
- Technological Advancements: Ongoing research and development efforts are likely to result in improved CRF formulations. These advancements may include more precise nutrient release patterns, longer duration of nutrient supply, and compatibility with a wider range of crops.
- Market Expansion: The CRF market is expected to expand into new geographic regions, including emerging economies with growing agricultural sectors. As awareness of the benefits of CRF increases, market penetration is likely to rise.
- Customized Nutrient Solutions: CRF manufacturers are exploring ways to tailor products to specific crop and soil types, allowing for even more precise nutrient management and better crop performance.
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