Controlled-Release Fertilizers Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2014 - 2020

2024-11-08 06:30:25 Lifestyle

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Controlled-release fertilizers are type of fertilizers used to minimize the potential loss of nutrients to the environment. It delays the availability of the nutrients for plant uptake and extends the availability period as compared to rapidly available or conventional fertilizers. The nutrient release pattern in conventional fertilizers is fully dependent on climatic conditions and soil characteristics; whereas in the case of controlled-release fertilizers, the release pattern can be predicted to a certain extent. Controlled-release fertilizers can be classified as follows: organic-N low solubility compounds, inorganic low solubility compounds and fertilizer release by a physical barrier. Organic-N low solubility compounds are manufactured by condensation of urea and its products. Such urea products include urea formaldehyde, crotonylidene urea and isobutylidene urea. The physical barrier type includes coating or encapsulation of fertilizers. Coating material used could be resins, inorganic materials and mineral based coatings. Inorganic low solubility fertilizers include inorganic complexes such as ammonium phosphates.

Growing demand for food globally is expected to drive the controlled-release fertilizers market. Demand for food is increasing with the same rate as the global population is increasing. Controlled-release fertilizers offer advantages over the conventional fertilizers. The advantages include resource savings, labor cost reduction and environmentally friendly nature. These also offer advantages such as high efficiency and ease of application. As the release is in a controlled manner, nutrients are available for longer time and do get degraded due to environmental conditions.

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However, high prices of the controlled-release fertilizers are expected to hamper the market growth. As the development and processing cost of the controlled-release fertilizer increases, it adds up to the final product price. The cost of resins, coating material and inorganic materials is high and subject to supply-demand dynamics in that market. This dynamics affect the final price of controlled-release fertilizers. Furthermore, the use of controlled-release fertilizers is limited to horticulture, ornamental and other high value applications only.

Rising demand in Asia Pacific region is expected to be an important opportunity for the players in the market. The price of final products would come down as the larger scale production is expected to achieve during the next few years. Reduction in price would increase the adoption rate in the region.

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North America emerged as the largest market for controlled-release fertilizers in terms of production and consumption. Controlled-release fertilizers are used for ornamental, agriculture and horticulture purpose in the region. Agricultural application is expected to grow at the fastest pace in the next few years. Europe followed the North America in terms of consumption of controlled-release fertilizers. Environmental regulations support and enforce the use of controlled-release fertilizers due to its eco-friendly nature. Demand in Asia Pacific was submissive in the past few years; however adoption of controlled-release fertilizers is expected to boost the market in the region. In few countries such as the Philippines and Nepal, limited exposure and awareness about controlled-release fertilizers have limited the use of these fertilizers. Countries like China and India are expected to grow at a faster rate due to increasing exposure and awareness of controlled-release fertilizers.

Some of the key players in controlled-release fertilizers market include Dow AgroSciences LLC, Uniroyal Chemical, BASF SE, Mitsui Toatsu Co., Nitto Ryuso, Israel Chemicals Limited, Agrium Inc., Haifa Chemicals Ltd., Yara International ASA, Tessenderlo Group, Sociedad Quimica Y Minera S.A., Compo GmBH & Co. Kg, Kingenta Ecological Engineering Group Co., Ltd. and Aglukon Spezialduenger GMBH & Co.Kg among others.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
North America
Asia Pacific
Europe
Middle East and Africa
Latin America
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Market growth drivers
Factors limiting market growth
Current market trends
Market structure
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