Controlled release fertilizers, which possess higher benefits over conventional commercial fertilizers, are witnessing demand owing to the need for food crops and increased crop efficiency. Projecting the market growth at a modest CAGR of 5%, a new Fact.MR study provides an inclusive analysis of the controlled release fertilizer market. This growth is further complemented by increasing nonagricultural applications in the US such as golf courses, turf gardens, and lawns.
The type of soil, level of soil fertility among different soil types, the ratio of available nutrients, crop type, and weather affect the type & quantity of fertilizers applied to crops. In the wake of the COVID-19 pandemic, there is an urgent need to implement innovative measures that use sensor and satellite technologies to improve the efficiency of agricultural inputs, particularly fertilizer.
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Controlled Release Fertilizers Market – Key Takeaways
- Polymer sulfur coated urea is poised to witness positive growth during the forecast period (2019 to 2029), on the back of the chemical’s emission-reducing properties.
- Owing to surging demand for protein-based food, the usage of cereals & grains is anticipated to grow 1.5X.
- Fruits & vegetables to account for 40% of market share, thereby making it the most lucrative end-use for controlled release fertilizers.
- East Asia remains one of the most lucrative regions, owing to robust agricultural production in China, which is the global leader in the production of fruits, vegetables, food grains.
- North America contributes to one-quarter of global market revenue, thereby creating significant opportunities for manufacturers
- South Asia is projected to exhibit an uptrend owing to high agricultural productivity in nations such as India, Malaysia, and Thailand.
Key Companies Profiled
- AgroBridge (m) Sdn. Bhd.
- ATS (Growth Products)
- Compo GmbH & Co. KG
- Ekompany International B.V
- Eurochem Agro Gmbh
- Greenfeed Agro Sdn Bhd
- Haifa Group
- Hanfeng Evergreen Inc.
- Harrell’s LLC
- HIF Tech Sdn Bhd
- Israel Chemicals Ltd
- JNC Corporation (Chisso)
- Kingenta International
- Nufarm Ltd.
- Nutrien
Market Trends and Challenges:
- Rising Demand for Sustainable Agriculture: With a focus on sustainable agriculture practices, there’s increasing demand for fertilizers that minimize negative environmental impacts while maximizing crop yields.
- Customized Formulations: Manufacturers are working on developing CRFs with tailored nutrient release profiles to match the specific nutrient requirements of different crops and growth stages.
- Technological Advancements: Research and development efforts continue to explore new coating materials, encapsulation technologies, and methods to optimize nutrient release patterns.
- Global Market Growth: The adoption of CRFs is growing globally, driven by the need for efficient nutrient management and environmental stewardship.
- Cost Considerations: Controlled release fertilizers tend to have higher upfront costs compared to traditional fertilizers. However, their benefits in terms of reduced application frequency and better nutrient utilization can offset these costs.
- Education and Awareness: Increasing awareness among farmers, landscapers, and consumers about the benefits of controlled release fertilizers is crucial for market growth.
Segmentation of Controlled Release Fertilizer Industry Research
- Controlled Release Fertilizer Market by Product :
- Polymer Sulfur Coated Urea/Sulfur Coated Urea
- Polymer Coated Urea
- Polymer Coated NPK
- Controlled Release Fertilizer Market by Crop :
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others
- Controlled Release Fertilizer Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Competition Landscape
Some of the players in the global controlled release fertilizer market are Nutrien, Yara International, Eurochem Agro Gmbh, Haifa Group, Kingenta International and HIF Tech Sdn Bhd., among others. Most of these leading players are focusing on agricultural countries such as India, China, and Malaysia, and are building a strong supply base in these regions. On the back of prevalent restraints, the players are moving ahead with a defensive approach as expansion has a limited scope, and hence, they are more thriving to organically increase their sales.
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