Market Size:
The global Controlled-release Fertilizers Market size is prognosticated to reach USD 3,862.2 million by 2026. According to a report published by Fortune Business Insights™ titled, “Controlled-release Fertilizers Market Size, Share & Industry Analysis, By Type (Slow-release, Coated & Encapsulated, and Nitrogen Stabilizers), Application (Cereals, Oilseeds & Pulses, Fruits & Vegetables, & Others), and Regional Forecasts, 2019 – 2032” The global controlled-release fertilizer market size was valued at USD 2.3 Billion in 2018 and is projected to reach USD 5.89 Billion by 2032, exhibiting a CAGR of 6.79% during the forecast period based.
Report Objectives
- A comprehensive overview of the CRF fertilizers market
- Interesting insights and key industry developments of the market
- Growth trajectories such as drivers, restraints, challenges, and opportunities
- Significant market players and their key strategies to strive for the top position in the market
- Other slow-acting fertilizers market trends
Introduction of Cost-Efficient CRF Fertilizers to Help Market Gain Impetus
The American Plant Food Control Officials (AAPFCO) define controlled-release fertilizers (CRFs) as fertilizers that delay nutrient availability for plant uptake and use after application. As global populations rise, governments are focusing on food security, which is expected to boost the growth of the delayed-release fertilizers market. Additionally, companies are developing cost-effective and encapsulated CRF fertilizers, further driving market revenue for slow-release fertilizers in the forecast period.
Growing environmental concerns are encouraging agriculturists, farmers, and others to optimize fertilizer use for enhanced nutrient uptake in crops. According to analysts at Fortune Business Insights™, this will reduce environmental stress and expand the CRF fertilizer market in the coming years. However, the absence of robust regulations for protecting controlled-release fertilizers may hinder market growth during the forecast period. Despite this, government initiatives and educational programs for farmers are anticipated to create significant growth opportunities for the controlled-release fertilizer market in the near future.
Source: https://www.fortunebusinessinsights.com/controlled-release-fertilizers-crf-market-101973
Asia Pacific to Continue Dominance on Account of High Production and Consumption Rates Derived from China
From a geographical perspective, North America is dominating the market on account of the presence of large number of players. However, Asia Pacific is likely to register the fastest delayed-release fertilizer market growth rate with a CAGR of 7.1% during the forecast period. This is attributed to the rapid increase in the population of countries especially China and India. This is further propelling the rise in demand for food all over the region. Japan and China are the two major market leaders in Asia Pacific with both high production and consumption. Growth in China is owing to the rise in research and development of innovative agricultural products, coupled with the presence of market players namely Hangfeng Evergreen, Kingenta International, and others in the nation. Moreover, conducive policies concerning smart fertilizers in Japan and China are further expected to help this region continue dominating the market in the years to follow.
Adoption of Merger and Acquisition Strategies to Bode Well for Market Vendors
Key players such as ICL, Pursell, and SQM have raised the bars and set new standards on cost-effective specialized fertilizers. This is ultimately encouraging agricultural companies to heighten their production scale and expand their portfolios by increasing the number of product launches. Besides this, new players in nations such as China, Japan, and the U.S., are entering into the CRF fertilizer market looking at the future opportunities the market will provide. Recently, companies such as Haifa Chemicals, Agrium, and Kingenta adopted a merger and acquisition strategy for the expansion of their portfolio across all geographies.
Some of the key industry developments in the CRF fertilizers marketare:
December 2017 – A leading producer of specialty fertilizers and biostimulants namely COMPO GmbH, announced a partnership with Kingenta for research and development of efficiency enhanced technology commonly called EEF technology.
June 2018 – The inauguration of a novel fertilizer coating facility was announced in Alabama by Pursell Agri-Tech, and their industrial partner Stamicarbon B.V. Pursell Agri-Tech, has built this plat for producing next-generation delayed-release fertilizers.
Some of the key vendors of the CRF fertilizers market include:
- Nutrien
- Yara International
- Helena Chemical
- SQM
- JNC Corporation
- Kingenta Ecological Engineering Co. Ltd.
- ICL
- Haifa Chemicals
- AGLUKON
- Pursell Agri-Tech
- Koch Industries
