A recent report published by Infinium Global Research on controlled release fertilizers market provides an in-depth analysis of segments and sub-segments in the global as well as regional controlled release fertilizers market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional controlled release fertilizers market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global controlled release fertilizers market. According to the report, the global controlled release fertilizers market is projected to grow at a CAGR of 5.89% over the forecast period of 2018-2024.
A controlled release fertilizer is a refined fertilizer that releases nutrients progressively into the soil. It releases nutrients in a controlled manner to match the nutrient requirement of a crop. These fertilizers upsurge crop yield, improve efficiency and decrease potential losses to the environment. Conventional fertilizers are soluble in water and their nutrients are dissolved quickly in the soil. Whereas controlled-release fertilizers are not water-soluble and their nutrients dissolve slowly in the soil. Owing to the increase in urbanization and the growing use of land for other purpose have resulted in the reductions in agricultural yield. Further, other factors such as increasing population and difficulty to meet the demand for food have led the farmers to use controlled release fertilizers for growing their yield.
Further, growing demand for high-efficiency fertilizer to meet the increasing demand for food and for reducing the labor efforts of farmers are the major factors driving the growth of controlled release fertilizers market. Growing attentiveness among farmers regarding the harmful effects of fertilizers on the environment, such as reduce the quality of the soil fuels the market growth. Moreover, the rise in the agricultural yield is another factor that boosts the growth of this market. In addition to this, increasing disposable income; consumers are preferring for high-end food such as organic food and high quality of meat. Therefore, to meet the demand of consumers, farmers are using controlled-release fertilizers. Growing concern about food safety among consumer is fuelling the growth of the market. Besides, lack of consciousness regarding the benefits of controlled released fertilizers among consumers and the fixed amount of nutrient released are some of the factors that hamper the growth of the controlled release fertilizers market.
Among the geographies, North America accounted for the highest adoption of controlled-release fertilizers. In North America, increasing technological innovations drives the growth of controlled-release fertilizers market. Whereas, the Asia-Pacific is anticipated to be the fastest growing region due to rising agriculture industry because of escalating population and modernized farming methods.
The report on global controlled release fertilizers market covers segments such as type, applications, and technique. On the basis of type, the sub-markets include coated and encapsulated, condensation products of aldehydes and urea, slow-release, and n-stabilizers. On the basis of applications, the sub-markets include oilseeds & pulses, turf & ornamentals, cereals & grains, plantations, fruits & vegetables, and others. On the basis of technique, the sub-markets include fertigation, and foliar.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in this region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China.
The report provides profiles of the companies in the market such as Agrium Inc, ICL, Koch Industries, Kingenta Ecological Engineering Group Co. Ltd, Haifa Chemicals Ltd, Compo Expert, Yara, Scottsmiracle-Gro, Helena Chemical, and Aglukon Spezialduenger GmbH.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of controlled release fertilizers market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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