Global Controlled Release Fertilizers Market: Overview
Due to rising urbanization, depletion of productive land and increasing use of land for the other usage have raised a challenging question about reductions in the agricultural yield. On the other hand, factors such as people struggling with the issue of food security and difficulty to meet the demand of food and overpopulation have led the farmers largely use controlled-release fertilizers for increasing their yield. Modernized equipment is used by farmers to enhance the productivity of the farm. Due to rising effects of global warming and lack of rainfall over agriculture, people prefer controlled release fertilizers in order to maintain a consistent supply of grains.
Global Controlled Release Fertilizers Market: Growth Factors
Increasing awareness among farmers regarding harmful effects of fertilizers on the environment has resulted in increased adoption of advanced controlled-release fertilizers fostering the global market growth. Moreover, increase the agricultural yield and reduced labor efforts by farmers are anticipated to boost the global market growth in the near future. Escalating demand for high-value food items and rise in the disposable incomes have created massive demand for food. Farmers focusing on the usage of the modernize equipment to cater to ever-increasing and diversifying needs of the consumers will push the demand for controlled-release fertilizers in future. Conversely, unpredictable nature of the climate may restrain the globally controlled release fertilizers market growth to some extent. However, many people are accepting other occupation than farming; hence, this may act as a major challenge before the global controlled release fertilizers market.
Global Controlled Release Fertilizers Market: Segmentation
The global controlled release fertilizers market is categorized based on products as polymer sulfur coated urea/sulfur coated urea, polymer-coated urea, polymer-coated NPK fertilizer, and other micronutrients. Of these, polymer sulfur coated urea/sulfur-coated urea is the leading segment in the global market. This is expected to gain exceptional momentum in the coming future. The demand for polymer sulfur coated urea/sulfur-coated urea is rising owing to labor-saving characteristics, resource saving abilities, and being environment-friendly.
Global Controlled Release Fertilizers Market: Regional Analysis
The global controlled release fertilizers market is segmented based on geography as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia Pacific is the dominating region for controlled release fertilizers across the world. Major countries in this region possess agro-based economies. Asia-Pacific region is anticipated to grow further owing to increasing demand from developing economies such as India, China, and Thailand. China is the higher consumer of the controlled release fertilizers due to increasing population base. Polymer sulfur coated urea/sulfur-coated urea is extensively used in the Asia Pacific. However, people are less aware of benefits of these fertilizers and high price may discourage people in this region.
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Global Controlled Release Fertilizers Market: Competitive Players
Some of the leading players in the globally controlled release fertilizers market are aerobridge, Agrium Inc., ATS Group, Greenfeed Agro Sdn. Bhd, Agrium Inc., Haifa Chemicals Ltd., Company, Compo GmbH & Co. KG, and Shikefeng Chemical Industry.