Controlled Release Fertilizers Market 2024Posted by Prashanth on December 2nd, 2019 Market Overview: The Global Controlled-Release Fertilizer Market was worth USD 2686.47 million in 2019 and is projected to grow at a compound annual rate of 5.8% to reach USD 3561.31 million by 2024. These controlled-release fertilizers are recognized for improving agricultural products. It takes time due to rapid urbanization and stagnation in the number of farming jobs as the younger population prefers other occupations. They are part of productivity-enriched fertilizers. These are granular fertilizers that constantly absorb nutrients in the soil. Controlled release fertilizers are usually coated or encapsulated with inorganic or organic components that control the level, pattern and nutrient release interval of plants. Market Drivers and Restraints: The difficulty of the population explosion has led to a decrease in arable land, which has created a situation of increasing demand for higher food consumption and lower production. The reunification of these concerns has led to a high need for controlled release fertilizers in recent years. Growing food security concerns have persuaded several governments around the world to adopt these fertilizers to increase their production and reduce their dependence on food imports. As a result, despite the benefits of controlled release fertilizers, the market faces issues such as rising prices, which has discouraged many farmers from investing in these products. Report segmented as By Type:
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Geographical Analysis: Geographically, the market is fragmented in North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. North America is the dominant region for the controlled release fertilizer market. Asia-Pacific is expected to be an important region in the coming years. This regional demand will be driven by China, as the demand for fast-growing food continues to demand greater harvests in the coming years. Important Market Players: Chisso, Shandong Shikefeng Chemical Industry Co. Ltd., Kingnda Ecological Engineering Group Co. Ltd., Scotts Miracle-Gro Company, Agrium, Yara International, Israel Chemicals Ltd. (Israel), Compo GmbH Co., Sociedad Química y Minera SA and Haifa Chemicals Limited are some of the main players in the controlled release fertilizer industry. The Scope of the report: This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors. About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. For more information: Abhishek Shukla Sales Manager at Market Data Forecast Email: abhishek@marketdataforecast.com Tel: +1-888-702-9626 Website: https://www.marketdataforecast.com/ Like it? Share it! More by this author |