Controlled Release Fertilizer Market Global 2018 Overview, Industry Demand, Size Estimation, Worldwide Analysis by Annual Growth Rate and Share Forecast 2023
Dec 6, 2018
Global Controlled Release Fertilizers Market Information: By Type (CROF, CRIF, CRCF, CRCU), The Mechanism (Osmosis, Diffusion), Crop Type (Ornamental & Nurseries, Agriculture, And Turf & Lawns), And Region- Forecast Till 2023
Pune, India - December 6, 2018 /MarketersMedia/ —
Market Insights
Controlled Release Fertilizers (CRF) are a useful way to provide the soil with necessary nutrients while cutting down on labor making it a highly efficient option. Market Research Future has published its report on the Global Controlled Release Fertilizers Market which finds that the market is expected to grow considerably over the forecast period from 2018 to 2023. Controlled Release Fertilizers have several advantages over other types of fertilizers, and they are only required to be applied once to improve soil quality, inhibit loss of nutrients and reduce hazardous emissions.
The agriculture sector is growing rapidly along with the global population. The demand for fresh produce and other crops such as wheat, sugarcane, and others has grown considerably. Urbanization across the globe has reinforced demand. Moreover, there is a shift in agricultural practices with sustainable agriculture slowly taking center stage. The increasing efforts towards this are likely to drive the market significantly over the assessment period. Moreover, the advantages of CRF mentioned above, and the demand for easy application for large fields of crops are expected to bolster demand.
At present, the market is limited by the high costs associated with Controlled Release Fertilizers. Moreover, some of the coating materials that are used in the production of CRFs are not biodegradable and may be toxic to the soil. Several other challenges are expected to hamper market growth. However, technological advancements and development of more effective CRFs are likely to mitigate these challenges to some extent as well as result in growth opportunities in the coming years.
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Key Players
MRFR’s analysis of the competitive landscape of the Global Controlled Release Fertilizer Market includes several important market players such as Nutrien Ltd., Koch Agronomic Services, LLC., COMPO EXPERT, Ekompany, BASF SE, Haifa Chemicals Ltd., AGLUKON Spezialdünger GmbH & Co. KG, Yara International ASA, ICL, The Scotts Company LLC, and Kingenta
Latest Industry News
Grupa Azoty has acquired specialty fertilizer producer, Compo Expert Group for USD 257.15 Mn.
Bio-on launched U-COAT earlier this year. U-COAT specializes in controlled release of urea fertilizers, and the product is natural as well as biodegradable.
Market Segmentation
The structure of the Global Controlled Release Fertilizer Market is made up of key segments. In MRFR's report, the market is segmented on the basis of Type, Mechanism, Crop Type, and Region. Types of CRF include controlled release organic fertilizers (CROF), controlled release coated fertilizers (CRCF), controlled release coated urea (CRCU), controlled release inorganic fertilizers (CRIF), and others. Several subsegments of these types are available in the report.
Mechanisms of Controlled Release Fertilizers are divided between diffusion mechanism and osmosis mechanism.
Crop types where CRF is used are segmented into ornamental & nurseries, turf & lawns, and agriculture. Nearly 70% of the total market share has been captured by the agriculture segment.
Regional Analysis
Key regions analyzed in the report include Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa. Among these regions, North America has emerged as a market leader and possesses the largest share of the market due to the widespread adoption of CRF for its various advantages. Moreover, the region has a high focus on innovations in technology, and several key players are present in the region. Europe closely follows the North American market with a similar growth pattern.
Meanwhile, the Asia Pacific is anticipated to grow at the highest CAGR during the review period. The region has a truly significant agriculture sector and a massive consumer population which has resulted in high demand for produce. The Middle East & Africa is growing rapidly as the population in the region expands and the demand for food rises. Latin America is slated to register moderate growth over the forecast period.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Website: https://www.marketresearchfuture.com/reports/controlled-release-fertilizers-5998
Source: MarketersMedia
Release ID: 455691
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