Press release
Controlled Release Fertilizer Market Report 2024: Growth, Trends, Analysis, Forecast 2033
As per the report, the controlled release fertilizer market size has grown strongly in recent years. It will grow from $3.14 billion in 2023 to $3.43 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The controlled release fertilizer market size is expected to see strong growth in the next few years. It will grow to $4.89 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.
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Controlled-Release Fertilizers Thrive Amidst The Surge In Modern Farming Practices
The increasing adoption of modern agriculture practices is significantly driving the growth of the controlled-release fertilizer market. Modern agriculture is an expanding approach to agricultural inventions and farming practices that assist farmers in boosting efficiency and minimizing the number of natural resources needed to meet the world's food, fuel, and fiber demands, such as water, land, and energy. Controlled release fertilizers examine precision fertilizer applications utilizing the 4-R approach-the right amount of fertilizer at the right time to the right plant at the right stage of growth. For instance, in July 2022, according to a report published by Khulna University Studies, a Bangladesh-based organization on research and academics, on average, the farmers in the survey have been farming for more than 23 years. According to study findings, 87 percent of farming households in the study area are using modern technologies to manage irrigation, use better seeds, and use chemical fertilizers. Around 60% of people are using harvesting technology today. Hence, the increasing adoption of modern agriculture practices is expected to propel the growth of the controlled-release fertilizer market going forward.
Controlled Release Fertilizer Market Advances With Cutting-Edge Technologies
Technological advancement is a key trend gaining popularity in the controlled release fertilizer market. Major companies operating in the controlled release fertilizer sector are focused on developing technologically advanced products to strengthen their position. For instance, in September 2021, ICL Group, an Israel-based company that develops, produces, and markets fertilizers, metals, and other special-purpose chemical products, introduced the fifth version of its Osmocote controlled-release fertilizer. Osmocote 5 has a distinctive nutrient-matching release technology as well as an upgraded Optimised Trace Element Availability (OTEA) system that matches plants' needs throughout the release program, resulting in increased plant health, color, and growth. Considering the inclination to minimize or remove peat, Osmocote 5 has a slightly increased Nitrogen concentration to enhance growth.
The controlled release fertilizer market covered in this report is segmented -
1) By Type: Slow Release, Nitrogen Stabilizers, Coated And Encapsulated
2) By Form: Liquid, Granular, Powder
3) By Application: Foliar, Fertigation, Soil, Other Applications
4) By End Use: Grains And Cereals, Pulses And Oilseeds, Commercial Crops, Fruits And Vegetables, Turf And Ornamentals, Other End Uses
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Major companies operating in the controlled release fertilizer market report are Yara International ASA, Kingenta, Nutrien Ltd, ICL Group, Sociedad Quimica y Minera de Chile S.A, Jcam Agri, Helena chemical company, Haifa Chemicals, Compo Expert GMbh, Nufarm Ltd, Sunpalm Australia, Hebei Woze Wufeng Biological Technology Co. Ltd, Hebei Sanyuanjiuqi Fertilizer Co. Ltd, Haifa Group, China BlueChemical Ltd, CF Industries, Borealis, Fertilore, HELM IBÉRICA SA, ADOB, Uralchem, PhosAgro, Acron, UralKali, Yara Canada Inc, The Mosaic Company, Verdesian, Koch Fertilizer, Wilbur-Ellis Company LLC, ScottsMiracle-Gro, K+S Potash Canada, ArrMaz, Agrium U.S. Inc, Nortox, Israel Chemicals Ltd (ICL), Qatar Fertilizer Co (QAFCO), Indorama Eleme Fertilizer & Chemicals Limited, Dangote Fertilizer, Twiga Chemical Industries Limited, Kynoch.
Contents of the report:
1. Executive Summary
2. Controlled Release Fertilizer Market Report Structure
3. Controlled Release Fertilizer Market Trends And Strategies
4. Controlled Release Fertilizer Market - Macro Economic Scenario
5. Controlled Release Fertilizer Market Size And Growth
…..
27. Controlled Release Fertilizer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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