The report "Controlled Release Fertilizer Market by Type (Slow Release, Coated And Encapsulated, Nitrogen Stabilizers), End Use (Agricultural and Non Agricultural), Mode of Application (Foliar, Fertigation, Soil), and Region - Global Forecast to 2026" The global controlled release fertilizer market size is projected to reach USD 3.3 billion by 2026. The market for controlled release fertilizer is estimated at USD 2.4 billion in 2021; it is projected to grow at a CAGR of 6.4% to reach USD 3.3 billion by 2026.
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The coated and
encapsulated segment by type is projected to achieve the fastest growth in the
controlled release fertilizer market.
The coated & encapsulated segment accounted for the largest market share during the forecast period. An increase in the application of coated fertilizers for cultivating high-value crops has led to a surge in demand in developed countries. The need for predefined and patterned nutrient release in the case of high-value crops and horticulture triggered the development of polymer coatings in the market. The rate of the release of nutrients can be controlled by the composition and thickness of the polymer coating. The nutrient release is dependent on temperature and the moisture permeability of the polymer coating. The moisture permeability of the capsule can be controlled by changing the composition of the polymeric coating material used. Since it is not dependent on soil properties, the prediction of nutrient release at a given time is possible for polymer-coated fertilizers.
By mode of
application, the fertigation segment is projected to account for the largest
market share in the controlled release fertilizer market.
The controlled-release fertilizers market, in terms of application method, was dominated by fertigation. Owing to the increasing irrigated land, fertigation is highly preferred as a suitable application method adopted in both developed and developing countries across the globe for the application of these fertilizers. Also, the labor costs are reduced to a large extent through the adoption of these techniques. Hence, this segment is also projected to be the fastest-growing in the coming years. Though this technique allows uniform fertilizer application to some extent, newer and better technologies supporting precision farming practices can be developed. The combination of precision farming practices and controlled-release technology is expected to exhibit a synergistic relationship for the benefit of the global agricultural industry
The non agricultural
sub-segment by end use is projected to account for the largest market share of
the controlled release fertilizer market over the forecast period.
The non-agriculture segment is projected to account for the largest share. The growth in purchasing power and the rising environmental issues have led to an increase in the demand for CRFs in non-agricultural.
Controlled-release fertilizers help improve the use efficiency (UE) of nutrients and reduce environmental pollution. The application of controlled-release fertilizers is usually on turf & ornamentals, cereals & grains crops such as rice, corn, and wheat. Due to the high price of controlled-release fertilizers, their use is mainly restricted to high-value crops and non-agricultural crops.
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Asia Pacific is
projected to be the largest market.
Demand for controlled-release fertilizers has been growing in this region, due to increasing investment of overseas business lines in agricultural inputs to exclusively meet the demand of crop growers to attain export quality. Additionally, the regulations for controlled-release fertilizers are favorable in this region. China is estimated to account for the largest share in the Asia Pacific controlled-release fertilizers market due to the increasing investments by several multinational manufacturers in research & development.
Key Market Players:
The key players in this market include Yara International ASA (Norway), Nutrien Ltd. (Canada), The Mosaic Company (US), ICL Group (Israel), Nufarm Ltd. (Australia), Kingenta (China), ScottsMiracle-Gro (US), Koch Industries (US), Helena Chemical (US), and SQM (Chile). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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