The latest report by IMARC, titled “Controlled Release Fertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global controlled release fertilizer market size reached US$ 2.9 Billion in 2022. Controlled release fertilizer is a granular fertilizer produced to be released into the soil in a controlled manner. It increases the efficiency of nutrient delivery to crops while reducing health and environmental risks, which is helpful in horticulture, silviculture, and agriculture. It also minimizes labor cost by limiting the utilization of expensive injection equipment and eliminating the requirement to combine and monitor water-soluble fertilizers. In recent years, controlled release fertilizers have gained momentum as they are timesaving, easy to use, and offer numerous advantages, such as optimal plant development and minimum fertilizer losses.
Global Controlled Release Fertilizer Market Trends:
One of the primary factors driving the market is the increasing food and crop demand due to the rapid increase in the population globally. Additionally, the lack of per capita share of fertile land on account of the lack of nutrients in the soil is creating a positive market outlook. Other than this, controlled release fertilizer is used to enhance the soil properties and improve land productivity. Besides this, due to the shortage of food crops and adverse climatic conditions, agriculturists and farmers are adopting sustainable agricultural practices. In line with this, the surging demand for controlled release fertilizer in turfgrass to avoid nitrate deficiency that leads to yellowing of the grass and loss of vigor is positively influencing the market growth. Moreover, market players are investing in research and development (R&D) activities to develop advanced technologies. Looking forward, IMARC Group expects the market value to reach US$ 4.2 Billion by 2028, expanding at a CAGR of 5.99% during the forecast period (2023-2028).
- Based on the type, the market has been divided into condensation products of urea and aldehydes (urea formaldehyde (UF), isobutylidenediurea, crotonylidenediurea), coated and encapsulated fertilizers (sulfur-coated, polymer-coated, sulfur-polymer coated, and other fertilizers), and others.
- On the basis of the form, the market has been segmented into granular, liquid, and powder.
- Based on the application, the market has been segregated into grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, turf and ornamentals, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive analysis of the market has also been analyzed, with some of the key players being AGLUKON Spezialduenger GmbH & Co. KG, COMPO Expert GmbH (Grupa Azoty S.A.), DeltaChem GmbH, Haifa Group, ICL Group Ltd., JNC Corporation, Kingeta Ecological Engineering Co. Ltd., Mivena BV, Nufarm, Sociedad Quimica y Minera de Chile S.A., The Mosaic Company, and Yara International ASA.
|Base Year of the Analysis
||Type, Form, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AGLUKON Spezialduenger GmbH & Co. KG, COMPO Expert GmbH (Grupa Azoty S.A.), DeltaChem GmbH, Haifa Group, ICL Group Ltd., JNC Corporation, Kingenta Ecological Engineering Co. Ltd., Mivena BV, Nufarm, Sociedad Química y Minera de Chile S.A., The Mosaic Company and Yara International ASA.
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