The global controlled-release
fertilizers market is estimated at USD 2.4 billion in 2020 and is
projected to reach USD 3.2 billion by 2025. The market is projected to grow at
a rate of 6.3% during the forecast period. Factors driving the market include
an increase in demand for highly efficient fertilizers, favorable government
regulations, a rise in demand for high-value crops, and an increase in the
number of investments from key players in this market. The growing
environmental concerns associated with nutrient loss through soil leaching and
runoffs from fields on the using excess conventional fertilizers are
effectively addressed by these fertilizers.
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The agricultural segment
is projected to be the faster-growing segment in the controlled-release
fertilizers market during the forecast period.
As the market demand shifts towards the usage from NPK
fertilizers to controlled-release fertilizers in the developing economies,
there is an increase in demand for controlled-release fertilizers. The
manufacturers are continuing research efforts to develop cheaper and better
coatings/materials to reduce the overall cost and encourage the adoption of
this technology.
The fertigation segment of
controlled-release fertilizers is projected to account for the largest market
share, by mode of application
The controlled-release fertilizers
market, by application method, was dominated by the fertigation segment.
Fertigation is a technique that has been adopted by major countries. In this
technique, the fertilizer is included with irrigation water and applied through
systems. This technique witnesses better application than broadcasting and
subsurface placement. 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, which also adds to their increasing demand.
The Asia Pacific is
projected to witness significant growth during the forecast period
The Asia Pacific accounted for the largest share. The
region is projected to grow at the highest CAGR of 6.2% & 6.0% in terms of
value & volume, respectively, during the forecast period. The increasing
growth of high-value crops and raising awareness among farmers about the
environmental benefits of controlled-release fertilizers are expected to
provide more scope for market expansion. The government policies adopted by
Asia Pacific countries and the large subsidies, in certain countries up to 100%
for marginal farmers, provided on fertilizers are the major factors triggering
the growth of this market in the region. R&D investments in the development
of coated fertilizers and the installation of new production capacities by key
players are expected to boost the market in the next five years.
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Key
Market Players
Key companies in the controlled-release fertilizers market
are Nutrien Ltd. (Canada), Yara International ASA (Norway), ICL (Israel),
ScottsMiracle-Gro (US), Koch Industries (US), Helena Chemical (US), Kingenta
(China), SQM (Chile), Haifa Chemicals (Israel), JCAM AGRI. (Japan), COMPO EXPERT
(Germany), Nufarm Ltd. (Australia), The Andersons Inc. (US), Van Iperen
International (Netherlands), Mosaic Company (US), OCI Nitrogen (Netherlands),
AgroLiquid (US), DeltaChem (Germany), SK Specialties (Malaysia), and Pursell
Agri-Tech (US). New product launches, expansions, agreements, and acquisitions
have been the areas of focus of these manufacturers to gain better penetration
in the developing markets of the Asia Pacific and South America.