The global controlled release fertilizer market is estimated to grow at a robust CAGR during the forecast period, 2021-2028. The growth of market is attributed to increasing environmental concern associated with the excess use of fertilizer resulting in nutrient loss and soil leaching, favorable government policies, demand for efficient fertilizer, and growing demand for high value crops.
It is proven by the empirical studies that biodegradable polymer coating are useful in controlling release of the nutrients in soil and helps in reducing nutrient losses such as soil fertility for the long run and ammonia volatilization.
Efficient use of nitrogen is essential in the glass production process a nitrate deficiency can results in yellowing texture of the glass and loss of vigor thus leading the cost of maintenance and replacement.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for highly efficient fertilizer is expected to drive the market during the forecast period.
- Increasing supportive government rules and rising concern towards environment is estimated to boost the market in the coming years.
- Rising demand for high valued crop amongst the population is anticipated to boost the market during the projected period.
- Rapid adoption of latest and advance techniques of farming by the farmer is expected to propel the market in the coming years.
- Increasing demand for NPK fertilizer in the glass production industry is estimated to surge the market during the projected period.
- Lack of knowledge about the use of nitrogen in turf glass production act as major factor that can hinder the growth of the market.
Scope of the market
The report on the global controlled release fertilizer market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Controlled Release Fertilizer Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Condensation Products of Urea and Aldehydes [Urea Formaldehyde (UF), Isobutylidenediurea, Crotonylidenediurea], Coated and Encapsulated Fertilizer [Sulfur-coated Fertilizers, Polymer Coated Fertilizer {Polymer Coated Urea, Polymer-coated NPK Fertilizer} Sulfur-polymer Coated Fertilizer, and Other Coated & Encapsulated Fertilizer]), Applications (Commercial Crops, Pulses & Oilseeds, Grains & Cereals, Fruits & Vegetables, Turfs & Ornamentals, and Others)
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Regional Scope
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North America [United States, Canada, Mexico, Rest of North America], Europe [Germany, United Kingdom, Spain, France, Italy, Russia, Rest of Europe], Asia Pacific [China, Japan, India, Australia, Rest of Asia Pacific], South America [Brazil, Argentina, Rest of South America], Africa [South Africa, Rest of Africa]
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Florikan ESA LLC; Ekompany International BV; Nutrien Limited; Haifa Group; ICL Group.
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Market Segment Insights
The coasted and encapsulated fertilizer segment is expected to exhibit high CAGR
Based on types, the market is categorized into condensation products of urea and aldehydes, coated and encapsulated fertilizer, and other coated & encapsulated fertilizers. The condensation product of urea and aldehydes segment is further segregated into urea formaldehyde, isobutylidenediurea, and crotonylidenediurea. The coated and encapsulated fertilizer segment is sub-segmented into sulfur-coated fertilizers, polymer coated fertilizer, sulfur-polymer coated fertilizer, and other coated and encapsulated fertilizer. The polymer coated fertilizer segment is further fragmented into polymer coated urea, and polymer-coated NPK fertilizer. The coated and encapsulated fertilizer segment is expected to exhibit high CAGR during the forecast period owing to its wide adoption and availability in both developed and developing nations usually demanded extensively because of highly controlled nutrient release characteristics and promotes healthy growth uptake in plant.
The turf & ornamental segment is expected to hold key share of the market
On the basis of applications, the market is segregated into commercial crops, pulses & oilseeds, grains & cereals, fruits & vegetables, turfs & ornamentals, and others. The turf & ornamental segment is expected to hold key share of the market in the coming years owing to the use of liquid fertilizers on the golf course is considered one of the best management practices, high demand for leisure turf and lawns in the United States and increasing awareness towards food security and demand for smart fertilizers.
North America is anticipated to dominate the market
In the terms of regions, the market is fragmented into North America [United States, Canada, Mexico, Rest of North America], Europe [Germany, United Kingdom, Spain, France, Italy, Russia, Rest of Europe], Asia Pacific [China, Japan, India, Australia, Rest of Asia Pacific], South America [Brazil, Argentina, Rest of South America], Africa [South Africa, Rest of Africa]. North America is anticipated to dominate the market during the projected period. North America holds a ownership of first ever chemically controlled product available as fertilizer, optimum utilization of nitrogen fertilizer resulting in high yield production of commodity crops, and reducing the expenses of superfluous application of fertilizers resulting in huge profit gain act as the major driver for the market growth.
Segments
Global controlled release fertilizer market has been segmented on the basis of
Types
- Condensation Products of Urea and Aldehydes
- Urea Formaldehyde (UF)
- Isobutylidenediurea
- Crotonylidenediurea]
- Coated and Encapsulated Fertilizer
- Sulfur-coated Fertilizers
- Polymer Coated Fertilizer
- Polymer Coated Urea
- Polymer-coated NPK Fertilizer
- Sulfur-polymer Coated Fertilizer
- Other Coated and Encapsulated Fertilizer
- Other Controlled Release Fertilizer
Applications
- Commercial Crops
- Pulses & Oilseeds
- Grains & Cereals
- Fruits & Vegetables
- Turfs & Ornamentals
- Other Application
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Florikan ESA LLC
- Ekompany International BV
- Nutrien Limited
- Haifa Group
- ICL Group.
Competitive Landscape
Key players competing in global controlled release fertilizer market include Florikan ESA LLC; Ekompany International BV; Nutrien Limited; Haifa Group; ICL Group.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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