Growth in demand for highly efficient fertilizers, rise in demand for high-value crops, favorable government regulations, and rise in the number of investments from manufactures are the major factor driving growth of the global market
The global controlled-release fertilizers market accounted for US$ 2.4 billion in 2020 and is estimated to be 3.2 billion by 2025 and is anticipated to register a CAGR of 6.3%.
The report. "Global is estimated to be US$ 4.60 billion by 2030 , By Type (Slow-release (Urea-formaldehyde, Urea-isobutyraldehyde, Urea-acetaldehyde, and Other slow-release fertilizers (Crotonylidenediurea)), Coated & encapsulated (Sulfur coatings, Polymer coatings, Sulfur-polymer coatings, and Other Coated Fertilizers (Condensation Polymers, Drying Oils, Waxes, and Bitumen)), and Nitrogen Stabilizers (N-Stabilizers) (Nitrification inhibitors and Urease inhibitors)), By Application (Grains & Cereals, Pulses & Oilseeds, Commercial Crops, Fruits & Vegetables, Turf & Ornamentals, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.
Key Highlights:
- In August 2019, Yara International ASA entered into a collaboration agreement with Nel Hydrogen Electrolyser, a division of Nel ASA, for low-carbon-footprint fertilizer production at Yara’s existing plant in Porsgrunn, Norway. This project was funded by the Research Council of Norway, Innovation Norway, and Enova through the PILOT-E program.
- In March 2019, Yara International ASA developed Yaralix, a tool for precision farming. It allows farmers to measure crop nitrogen requirements using their smartphones. The system is embedded with a free-to-download application which is designed to handle the smartphone camera to regulate nitrogen requirements for different crops in the early growth stages.
Analyst View:
Growth in demand for highly efficient fertilizers
In the current scenario there is a serious need for improving the efficiency of fertilizer, therefore the anticipated benefits from the controlled release fertilizers are projected to propel the market over the forecast period. Controlled release fertilizers result in the need for fewer benefits, which thereby decreases equipment costs and labor. Further, product differentiation offers a good marketing opportunity for organizations. With less frequent application required, there is a more uniform growth response from crops, allowing techs to perform other duties during their scheduled stops.
Key Market Insights from the report:
The global controlled-release fertilizers market accounted for US$ 2.4 billion in 2020 and is estimated to be 3.2 billion by 2025 and is anticipated to register a CAGR of 6.3%. The market report has been segmented on the basis of type, application, and region.
- By type, the slow-release segment is expected to be the fastest-growing segment. Urea-formaldehyde fertilizers are almost effective in high temperatures. Hence, they are used in regions having warm climatic conditions such as the southwestern region of the US and the Asia Pacific Mediterranean region in Europe.
- Byapplication, the controlled-release fertigation demand has been mostly concentrated in high-value crops such as plantation crops (cocoa, pepper, and rubber), fiber crops (jute and cotton), and ornamentals, as they require the application of fertilizers to increase the crop yield and quality.
- By region, The Asia Pacific estimates for the highest share in terms of value & volume, and is expected to maintain its dominance over the forecast period. Rapid growth of high-value crops and increasing awareness among farmers about the environmental benefits of controlled-release fertilizers are projected to offer more lucrative scope for the target market expansion.
Before purchasing this report, request a sample or make an inquiry by clicking the following link:
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/4239
Competitive Landscape:
The prominent player operating in the global controlled-release fertilizers market includes Nutrien Limited, Scotts Miracle Gro, Yara International ASA, Israel Chemicals Ltd., Compo GmbH and Co. KG, Haifa Group, Sociedad Quimica Y Minera De Chile SA, ATS (Growth Products), JNC Corporation (Chisso), and Kingenta International.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
Other topics:
https://sites.google.com/view/pruritustherapeuticsmarket/home
