Track topics on Twitter Track topics that are important to you
The global controlled release fertilizer market was estimated at USD 3121.8 million in 2017, and is expected to exhibit a CAGR of 6.8% during the forecast period 2018 2023. By far, North America accounted for the largest market share, followed by Europe, and AsiaPacific. Due to increased demand for food, and shortage of arable land, the AsiaPacific region is expected to record the highest CAGR during the forecast period.
Increasing Demand for HighEfficiency Fertilizers
Trends in crop production maize, and wheat in the last four decades show that the nitrogen application rate increased about 15 times, whereas, its accumulation in grains increased only three to four times. At the same time, nutrient recovery by crops remained relatively low e.g. about 50% for nitrogen. This represents a potentially alarming situation from environmental, economic and resource conservation points of view and indicates an urgent need for improving efficiency of fertilizer use. Anticipated benefits from the controlled release fertilizers are expected to drive the market during the forecast period.
Worldwide Demand is Driving the Market
Developing East Asian countries, such as China, Indonesia, India, Vietnam, Cambodia, Pakistan, Thailand, and Malaysia have remained major growth markets for controlled released fertilizers. The annual growth rate for fertilizers, in these markets is in 4% to 5% range. Because agriculture in these areas is a major economic sector, crop quality is crucial, and fertilizers take an important part in their development prospects. Since 2002, some European countries, such as, Spain, Portugal, Greece, and Italy began fighting against the adverse effects of chemical residues on lands already ruined by unwise farming practices, that cause desertification. In Europe, the FAO expects overall use of fertilizers to remain flat with slight increases during the forecast period. Latin America is expected to be a strong export region in the next five years.
Growing Environmental Concern Promoting Controlled Release Fertilizers
To sustain the further world population, more fertilizers are required, which may become an environmental hazard, unless adequate technical and socioeconomic impacts are addressed. In the current study, slowrelease formulations of nitrogen fertilizer were developed on the basis of natural attapulgite APT clay, ethyl cellulose EC film, and sodium carboxymethylcellulose/hydroxyethylcellulose CMC/HEC hydrogel. The structural and chemical characteristics of the product were examined. The release profiles of urea, ammonium sulfate, and ammonium chloride as nitrogen fertilizer substrates were determined in soil. The influence of the product on waterholding and waterretention capacities of soil was determined. The experimental data indicated that the product can effectively reduce nutrient loss, improve use efficiency of water, and prolong irrigation cycles in droughtprone environments. That is why, the market is expected to witness a higher CAGR during the forecast period.
Key Developments in the Market
With the growing demand from the burgeoning population, the global controlled release fertilizer market is experiencing a number of new product launches, mergers acquisitions, and partnership between the global players.
December 2017: China's first modern agricultural service platform Jinfeng commune and the world's top 500 enterprises, Accenture officially reached a strategic cooperation, the two sides will jointly build Chinese leading digital modern agricultural service platform.
October 2017: Maire Tecnimont S.p.A. Milan, Italy announced that its subsidiary Stamicarbon has acquired a 20% stake in Pursell AgriTech, LLC, a USbased startup company specialized in developing and marketing polymercoated, controlledrelease fertilizers.
July 2017: IFC and Kingenta jointly launched a new company, Jinfeng Agricultural Services Co. Ltd. Several individual projects were planned for operation in the country, including upgrading conventional fertilizers into specialty fertilizers, especially focusing on CRF.
Key Players: AGRIUM INC., CF INDUSTRIES HOLDINGS, YARA INTERNATIONAL, K+S AG, SCOTTS MIRACLEGRO COMPANY U.S., OCP GROUP, POTASH CORPORATION OF SASKATCHEWAN, THE MOSAIC COMPANY, COMPO GMBH CO. KG GERMANY, ISRAEL CHEMICALS LTD., BUNGE BG, SOCIEDAD QUIMICA Y MINERA DE CHILE SA, HAIFA GROUP, ATS GROUP, ICL SPECIALTY FERTILIZERS, THE CHISSO CORPORATION, COMPO GMBH CO. KG, SHIKEFENG CHEMICAL INDUSTRY, GREENFEED AGRO SDN. BHD
Reasons to Purchase This Report
Global, regional and countrylevel analysis, along with forecasts of the studied market.
Study of the effect of exogenous endogenous factors, viz. demographic, economics, and political factors, among others, which affect the global market.
Porter's five forces framework incorporating the factors influencing each force to determine the intensity of competition.
Segment and subsegment level analysis of the market over the review and forecast period.
Identification of key factors instrumental in changing the market scenario, exploiting new opportunities and gaining a competitive edge.
SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
3 months analyst support along with the Market Estimate sheet in excel. Customization of the Report
Countries of client's interest can be included in report based on feasibility of report.
Companies of client's interest can be included in report based on feasibility of report.
Original Article: Global Controlled Release Fertilizer Market Segmented by Product Type, Application, and Geography Growth, Trends, and Forecast 2018 2023 [Report Updated: 08022018] Prices from USD $1923NEXT ARTICLE
Food is any substance consumed to provide nutritional support for the body. It is usually of plant or animal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, or minerals. The substance is ingested by an organism ...
A genetically modified organism (GMO) is an organism whose genetic material has been altered using genetic engineering techniques. Organisms that have been genetically modified include micro-organisms such as bacteria and yeast, insects, plants, fish, an...