Controlled-release Fertilizers Market size is forecast to reach $3.64 billion by 2025, after growing at a CAGR of 6.58% during 2020-2025. To raise agricultural productivity across the globe controlled-release fertilizers will slowly transfer emphasis to good-quality fertilizers to enhance soil properties and increase soil productivity. Increasing food and crops demand along with reducing per capita share of fertile land across the globe will escalate the demand for various controlled-release fertilizers in upcoming years. Owing to its ease of use, reduced environmental impact, and reduced application costs through the reduction of labor costs it is expected to drive the growth of the controlled-release fertilizer industry in the forecast period.
Type - Segment Analysis
N-Stabilizer is extensively used in Controlled-release Fertilizers Market. N-Stabilizers are chemicals added or used to treat N fertilizers, particularly urea-based fertilizers to control ammonia volatilization and nitrification processes largely responsible for N loss. Nitrogen stabilizer improves fertilizer-N recovery in the soil-crop system and reduces fertilizer-N losses to the environment. The pH of the soil has a large impact on the effectiveness of N stabilizers and also when urea-based N fertilizer is applied to the soil, urease enzymes breakdown urea into ammonium under favorable soil moisture and temperature conditions.
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Application - Segment Analysis
Fertigation is a technique that has been adopted by major countries. The fertilizer is included with irrigation water in this technique and is applied through systems. This technique is experiencing greater application than broadcasting and positioning on the subsurface. Due to the growing number of irrigated soils, fertigation is highly favored as an effective application method adopted for the application of such fertilizers in both developed and developing countries across the globe. Also, the labor costs are reduced to a large extent through the adoption of these techniques, which also adds to their increasing demand and is anticipated to boost the growth of the global controlled-release fertilizer market over the forecast period.
End Use - Segment Analysis
Non-Agriculture segment held the largest share in the controlled-release fertilizers market in 2019 by growing at a CAGR 5.62% during the forecast period. Due to several properties offered by these fertilizers such as to control nutrients release thereby improving nutrient supply to crops and minimize environmental, ecological, and health hazards, their demand is increasing in the non-agricultural segment. The non-agriculture segment is estimated to witness a higher demand, as the usage of controlled-release fertilizers on turf and ornamentals has been high in various regions. Also, deep placement of a controlled-release fertilizer is a good method for supplying soybean nitrogen without inhibiting N2 fixation; therefore, it has been hypothesized that this method can effectively supply nitrogen to sulfur deficient soybean plants. Hence these are the major factor driving the growth of this segment.
Geography- Segment Analysis
The Asia Pacific held the largest share with 34.69% in Controlled-release Fertilizers Market. It is expected that the increasing growth of high-value crops and increasing awareness among farmers about the environmental benefits of controlled-release fertilizers will provide more scope for expansion of the market. According to India Brand Equity Foundation, in March 2020, Fact, the oldest large-scale fertilizer manufacturer in the country, crossed one million production and sales mark. The government policies adopted by Asia Pacific countries and the large subsidies offered on fertilizers are the major factors triggering the growth of the controlled-release fertilizer market in the Asia Pacific region. R&D investments in the growth of coated fertilizers and the establishment by key players of new production capacities are expected to boost the demand in the forecast period.
Drivers – Controlled-release Fertilizers Market
Increasing Nutrient Requirement in the Turf & Ornamental Segment
The pattern of superintendents using liquid fertilizer on golf courses is experiencing a change due to the wider acceptance of best management practices across the country, including improved, effective fertilizer such as controlled-release fertilizer. The house owners and commercial places for landscaping choose the leisure turf and the lawns to curb the appeal. People are shifting to native grasses in North America as they help in water conservation. Kentucky bluegrass, Bentgrass, and Ryegrass are the major cold seasonal turf grass grown across North America, while St. Augustine grass, Cynodon, is some of the warm season turfgrasses grown throughout the region. Also, regional companies, such as the Netherlands-based Ekote Technology, introduced a polymer coating biodegradable-controlled release NPK fertilizer in 2015, the product longevity of which is only affected by soil temperature and not by other environmental factors. The product is widely used across golf courses, open fields, and ornamentals. Hence, these factors are further expected to boost the demand for controlled release fertilizer in the coming years.
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Challenges – Controlled-release Fertilizers Market
Lack of Flexibility and Storage Limitations
By using water-soluble fertilizers, the fertilizer application rate and formulation can be adjusted by a grower with each watering to meet the exact needs of the crop and the environmental conditions. However, for controlled-release fertilizers (CRFs), this cannot be modified until the fertilizer has been added. The fertilizer may be released too quickly and cause root burning or dissolve too slowly causing nutrient deficiencies, in early spring and late fall, when temperatures are unseasonably warm or cool. Also, when using a growing medium with an incorporated CRF the main problem is how long the medium has been processed before use. As the temperature-based nutrients are released, they will start releasing as soon as they are introduced into the growing medium, and hence, this storage limitation can create hurdles for the controlled-release fertilizer market in the forecast period.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Controlled-release Fertilizers Market. In 2019, the market of Controlled-release Fertilizers Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Controlled-release Fertilizers Market are Aglukon, Nutrien Ltd., Yara International ASA, Agrium, Compo Expert, Haifa Chemicals, Helena Chemical, Jcam Agri., Kingenta, Koch Industries, SQM, Scottsmiracle-Gro among others.
Acquisitions/Technology Launches
In September 2019, Nutrien, Ltd. acquired Ruralco Holdings Limited (Ruralco) in Australia, to provide significant benefits to its stakeholders as well as enhance the delivery of its products and services to Australian farmers.
In August 2019, Yara International ASA and Nel Hydrogen Electrolyser, a division of Nel ASA, entered into a collaboration agreement for low-carbon-footprint fertilizer production at Yara’s existing plant in Porsgrunn, Norway.
Key Takeaways
APAC dominates the Controlled-release Fertilizers Market due to increased nutrients use efficiency with minimum nutrient losses achieved by employing controlled-release fertilizers in this region.
Controlled-release fertilizers is a granulated fertilizer that releases nutrients gradually into the soil and has the potential to increase crop quality and yield, improve fertilizer use efficiency as well as minimize potential losses to the environment which will anticipate boosting the market in the forecast era.
Governments across the developing world are striving to incrementally ease restrictions on fertilizer manufacturing and to maintain seasonal agricultural activities to reduce food safety concerns, which is a critical indicator for determining the course of supply gaps in the industry.
Due to the COVID-19 pandemic, the fertilizer industry will face multiple challenges such as ranging from lack of capital to the demand and supply of fertilizer in the year 2020-2021.
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