Controlled Release Fertilizer Market Revenue, Demands, Covid-19 Impact and Forecasts to 2024 | Top Key Players Greenfeed Agro, Agrium Inc., Israel Chemicals

A controlled release fertilizer (CRF) is powdered fertilizer that gradually releases nutrients into the soil in a controlled way within an estimated timeframe. With the prevalence of several environmental and social factors such as rising population and food demand, extensive infrastructure development, and increasing pollution levels impacting on the limited natural resources, the demand for controlled release fertilizers has grown up drastically.

These chemicals not only facilitate growing quality crops, but also promote the concept of optimal utilization of resources. According to a Global Market Insights, Inc. report, global controlled release fertilizers market share will reach over US$3.9 billion by 2024. Below are some factors driving market trends.

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Investments and role of fertilizers
Fertilizers play a vital role in crop cultivation. A good fertilizer helps in growing desired quality crops. As per the Food and Agriculture Organization, up to 55 - 57% of per unit share of produced grain can be increased by fertilizers. To get the maximum outcome of the cultivated crops, governments of several countries such as China have emphasized using quality fertilizers. Also, extensive investments in the agriculture sector and various government initiatives to improve agricultural productivity have positively influenced the need for controlled release fertilizers.
Irrational usage of conventional fertilizer

Rising pollution levels across air and soil, along with the irrational use of conventional and synthetic fertilizer causes nitrogen depletion in the soil. This impacts the growth and quality of cultivated crops. Using organic nutrients for crops that include crop residue, animal manure, compost, among others help in growing quality crops for a longer period.

Adoption of sustainable agriculture practices
Sustainable agriculture practices are considered to be the best approach for farming considering today’s environmental and social scenarios. Adopting sustainable methods does not only fulfill society’s demand for food and textile, but it also ensures maintaining environmental safety standards and reduced cost of farm operations. On the other hand, factors affecting the market are lack of awareness about the fertilizers, their role, and the high cost of organic fertilizers as compared to conventional or synthetic products.

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Key market players in The Controlled Release Fertilizer Market
• Yara International
• Greenfeed Agro
• Agrium Inc.
• Israel Chemicals
• Haifa Chemicals
• Scotts Miracle-Gro
• ICL Specialty Fertilizers
• Kingenta

Advantages of polymer coated fertilizers
The polymer sulfur coated urea or sulfur coated urea market segment is likely to cross US$1.5 billion by 2024 in annual valuation. Polymer coated urea is almost three times more expensive than conventional fertilizers but due to its advantages such as minimal utilization, which saves labor and equipment expenses, the product has a high adoption rate among farmers. Polymer coated NPK fertilizers account for over 40% of the global controlled release fertilizer industry share, and are widely utilized for grains and cereals.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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