Controlled Release Fertilizers Market Analysis

Controlled Release Fertilizers Analysis

Sulfur coated urea or polymer sulfur coated urea fertilizers will hold sway the market and accounted for over 40% of the global share in 2015. These are the fertilizers in which urea is coated with liquid sulfur and polymers. Polymer sulfur coated urea are coated with 1% polymer after the urea granules are coated with sulfur. This segment will witness compounded annual growth rate of around 6% from 2016 to 2024.
 

Market size of polymer coated urea was estimated at more than USD 600 million in 2015, which accounted for over a quarter of the global controlled release fertilizers market share. These fertilizers improve the nitrogen absorption efficiency and reduce loss of nitrogen to the environment. Its ability to maintain the nutrient quality of the soil throughout the harvest season is going to boost the market growth. This segment will have a healthy growth at over 5% throughout the forecast timeframe.
 

Controlled release fertilizers are used for gardening & ornamental plants along with various cash crops, fruits and vegetables. Fruits and vegetable segment will show a robust CAGR of around 5.5% from 2016 to 2024 and generate revenue of about USD 300 million in 2015. This is owing to increasing health consciousness among the people is the reason for increasing consumption of fruits and nutritious vegetables across the globe.
 

Escalating lawn and garden consumable market in the developing countries of Asia Pacific will provide an opportunity for global controlled release fertilizers industry growth in the next few years. Enhancing lifestyle coupled with growing awareness about gardening and landscaping will act as a catalyst to the market growth. Hobby cultivators and gardeners will also enhance demand.
 

Asia Pacific accounted for almost half the overall controlled release fertilizers market share in 2015. This growth is on the account of huge agricultural land coupled with increasing awareness about sustainable cultivation to meet the growing food demand. Presence of several agro-based economies such as India, China, Thailand, Malaysia, and other tropical countries will be a major factor influencing the regional market. North America, driven by the U.S. agriculture industry, generated a revenue of around USD 850 million in 2015 and is likely to show a substantial growth rate over the forecast span.