Controlled Release Fertilizers Market to Reach $10.1Bn by 2028
FMI presents detailed analysis and delivers key insights on the global controlled and slow release fertilizers market in its latest report titled ‘Controlled and Slow Release Fertilizers Market Forecast, Trend Analysis & Competition Tracking – Global Review 2018 to 2028’. The long-term outlook on the global controlled and slow release fertilizers market is positive with the controlled and slow release fertilizers market pegged at a value of US$ 4,791 Mn in 2018.
It is expected to reach US$ 10,222.4 Mn by 2028 end, growing at a value CAGR of 9.1%. Among the segments by type, the encapsulated/coated controlled and slow release fertilizers segment is expected account for the lion’s share in terms of value and volume over the forecast period.
The encapsulated/coated controlled and slow release fertilizers segment is expected to expand at a relatively higher CAGR. Among regions, Asia Pacific excluding Japan (APEJ) is anticipated to retain its dominance throughout the forecast period while growing at a rate of 11.1% from 2018 to 2028. In this report, FMI throws light on the drivers and restraints likely to impact the controlled and slow release fertilizers market during this period.
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Global Controlled and Slow Release Fertilizers Market Dynamics
Market insights suggest that the global controlled and slow release fertilizers market will witness high growth during the forecast period, which can be attributed to the growing population and decreasing agricultural land. Growing food consumption and increasing need for effective fertilizers are pushing the market for controlled and slow release fertilizers. The need for higher output with fewer resources is the driving the development of new technologies in the agricultural industry. With the use of conventional fertilizers, it is not possible to satisfy the growing demand for food.
The use of slow and controlled release fertilizers improves the yield and saves labour. New developments such as increase in the longevity and performance of coated fertilizers are pushing the market for controlled and slow release fertilizers in agricultural as well as commercial applications. The slow release of nutrients allows fertilizers to last longer and thereby increase fertilizer performance, which is driving the demand for controlled and slow release fertilizers.
Urea reaction products also accounted for a significant share of the controlled and slow release fertilizers market; however, the increasing popularity of encapsulated coated fertilizers is expected to dominate the urea reaction product segment during the forecast period. The superior longevity of encapsulated/coated products as compared to that of urea reaction products is expected to push the growth of the encapsulated/ coated segment during the forecast.
Global Controlled and Slow Release Fertilizers Market Segmentation Analysis
The controlled and slow release fertilizers market has been segmented on the basis of application into agricultural, commercial lawn and turf and others.
- On the basis of application, the agricultural segment is anticipated to dominate the controlled and slow release fertilizers market in terms of value and volume over the forecast period
- The agricultural segment is also projected to grow at a relatively higher CAGR over the forecast period. It is expected to represent a total incremental opportunity of US$ 3,863 Mn between 2018 and 2028 in the global controlled and slow release fertilizers market
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Global Controlled and Slow Release Fertilizers Market Regional Forecast
Regionally, APEJ accounted for over 47% of the global controlled and slow release fertilizers market value while North America accounted for the second largest share in the controlled and slow release fertilizers market. APEJ is projected to be the fastest growing region with a CAGR of 11.5% during the forecast period. Large population base and rapid population growth, improving economic conditions, change in eating habits and increasing food consumption are some of the important factors driving the demand for controlled and slow release fertilizers.
Global Controlled and Slow Release Fertilizers Market Competition Landscape
The report highlights some of the top companies operating in the global controlled and slow release fertilizers market, including Kingenta Ecological Engineering Group Co. Ltd., Israel Chemicals Ltd (ICL), Yara International ASA, Agrium Inc., Haifa Chemicals Ltd., Koch Fertilizer LLC and Aglukon Spezialduenger GmbH & Co. KG., among others.
Controlled and Slow Release Fertilizers Market: Segmentation
Type
- Urea Reaction Products
- Encapsulated/ Coated
Application
- Agricultural
- Commercial Lawn and Turf
- Others
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excl. Japan
- Middle East and Africa
- Japan
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