Press release
Controlled release fertilizers (CRF’s), the latest and most technically advanced method of supplying nutrients to crops.
The CRF market size is estimated to record a CAGR of 6.7% over the forecast period of 2017-2022, from an estimated market value of USD 2,923 million in 2016.Leading Companies Focusing on Control Release Fertilizer Technology
In 2017, IFC and Kingenta jointly launched a new company, Jinfeng Agricultural Services Co. Ltd. Under this company several individual projects were planned, to be operated in the country, including upgrading conventional fertilizers into specialty fertilizers, especially focusing on CRF. Kingenta Ecological Engineering Group Co. Ltd, Shandong Shikefeng Chemical Industry Co. Ltd, Agrium, and Chisso Corporation were the top four players operating in the global controlled release fertilizer market, in 2015. These players collectively held a dominant share of 49.1% in 2015.
Increase in Demand for High Efficiency Fertilizers
Controlled release fertilizers are among the latest and most technically advanced methods of supplying nutrients to crops. The global controlled release fertilizer market is technology driven, and requires exhaustive capital requirements, and significant R&D investment for players to operate efficiently in the market.
Get the Full Report Here: Global Controlled Release Fertilizer Market
One of the major driving factors for the global controlled release fertilizer market growth will be the ever-increasing global population. According to the World Bank, the 2015 global population was estimated at 7.3 billion and will surpass 8 billion by 2024. With arable land per person reducing to less than 0.2 hectares, farm productivity must be enhanced by at least 50%, to satisfy the global food demand. This will promote the demand in the global controlled release fertilizer market. North America is the largest market for controlled release fertilizer products, followed by Europe and Asia-Pacific.
About Mordor Intelligence
Mordor Intelligence is a market intelligence and business advisory firm. The company operates in the business of industry analysis & consulting, in over 16 verticals. In today’s fast-paced and competitive business environment, every customer has unique information requirement. With an eye for such requirements, Mordor offers custom market intelligence and advisory services, along with syndicated reports, to help gain an edge over the competition. The company has successfully catered to over 500 (40% of whom are Fortune 500) clients, since 2013.
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About the Author: Sanjay Singh works as a Research Associate with Mordor Intelligence, a market research and consulting firm based in Hyderabad, India, with expertise in accurate research and analysis.
Mordor Intelligence is a market research and consulting firm with expertise in accurate research and analysis.
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