Controlled Release Fertilizers Market Size worth $3.9bn by 2024

Controlled Release Fertilizers Market size is set to reach USD 3.9 billion by 2024; according to a new research report by Global Market Insights, Inc.
 

The global controlled release fertilizers market is driven by increasing demand of food products owing to growing population coupled with reducing arable land across the globe. World Bank has estimated that the global population which is 7.35 billion in 2015 will exceed 8 billion by 2024. Increasing industrial development activities and land acquisitions for various infrastructure development projects has reduced the availability of arable land. The arable land had reduced to around 0.197 hectares per person and to meet the growing food product demand the agricultural output should be increased by around 50%. The use of sustainable products such as engineered fertilizers that will help to increase the crop yield and effectively utilize land are expected to augment in coming years.


 

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Climatic changes across the globe has resulted in undistributed pattern of rainfall across the globe, this has urged the use of sustainable ways for agricultural production. It is forecasted that by 2030, 90% of cash crops such as wheat, maize, rice, etc. production will reduce. This will in turn increases their prices making it unsuitable for the major population in emerging nations difficult to afford it. All these factors together will increase the demand of these engineered fertilizers. Improving disposable income in Mexico, Brazil, India, and South East Asian countries has given an upsurge to landscaping and gardening industry in these regions. In Asia Pacific, garden and lawn consumables are expected to cross USD 4 billion by 2024. All these trends will influence the growth of controlled release fertilizers market positively over forecast timeframe.
 

Controlled Release Fertilizers Market

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Controlled release fertilizers market segmented in different types including polymer coated urea, NPK and polymer sulfur coated urea or sulfur coated urea. Among these polymer sulfur coated urea holds decent share and shows the compounded annual growth rate of 6.0% over the forecast timeframe. The sulfur coated urea holds the share of around 45% in the overall market due to its wide application in both horticulture and farming applications.
 

Browse key industry insights spread across 134 pages with 146 market data tables & 16 figures & charts from the report, “Controlled Release Fertilizers Market Size By Product (Polymer Sulfur Coated Urea/Sulfur Coated Urea, Polymer Coated Urea, Polymer Coated NPK), By Crop (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/controlled-release-fertilizers-market
 

Controlled release fertilizers are used in growing of various crops such as oilseeds and pulses, fruits and vegetables, grains and cereals, etc. Various other plants such as turfs, gardening and ornamental plants, etc. also use such engineered fertilizers. The cereals & grains hold the substantial share in the overall market while fruits and vegetables show CAGR of 5.5% by the end of forecast time period.
 

North America and Asia Pacific are the major regions where the demand of controlled release fertilizers market is increasing. In Asia Pacific shows revenue of around 1.1 billion in 2015, this is due to various agricultural development initiatives taken by governments of countries to promote sustainable agricultural products. North America being a pioneer in production if various cash crops such as maize and wheat makes them the prominent region for these controlled release fertilizers market.
 

The various players in this market are Greenfeed Agro, Israel Chemicals, Kingenta, Yara International, ICL Specialty Fertilizers, Agrium, Inc., BASF SE, Dupont, Scotts Miracle-Gro, etc.
 

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The controlled release fertilizers market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons & revenue in USD million from 2013 to 2024, for the following segments:
 

By Product

  • Polymer sulfur coated urea/sulfur coated urea
  • Polymer coated urea
  • Polymer coated NPK
  • Others

By Application

  • Cereals & grains
  • Oilseeds & pulses
  • Fruits & vegetables
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • GCC

 

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