Controlled Release Fertilizers Market Forecasts to 2028 – Global Analysis By Type (Nitrogen stabilizers, Coated and encapsulated, Slow Release Fertilizers and Other Types), Mode of Application (Fertigation, Foliar, Soil and Other Mode of Applications) , E

Controlled Release Fertilizers Market Forecasts to 2028 – Global Analysis By Type (Nitrogen stabilizers, Coated and encapsulated, Slow Release Fertilizers and Other Types), Mode of Application (Fertigation, Foliar, Soil and Other Mode of Applications) , End User and By Geography

According tStratistics MRC, the Global Controlled Release Fertilizers Market is accounted for $2.8 billion in 2022 and is expected treach $4.7 billion by 2028 growing at a CAGR of 9.1% during the forecast period. Controlled release fertilisers (CRF) are fertilisers that release nutrients in a regulated manner in order tmatch the nutrient requirement absorption of a crop. These fertilisers have the potential timprove crop quality and output, enhance the efficacy of fertiliser use, and reduce potential environmental losses. Controlled release fertilisers hold great promise for raising crop quality and production, increasing nutrient availability, and lowering application costs and environmental pollution.

According tthe International Fertilizer Association (IFA), the global demand for urea is expected tincrease by 1.6% per annum, treach 188 million metric tons by 2022, while the supply (effective capacity) may reach 197 million metric tons.

Market Dynamics:

Driver:

Mounting Concerns Regarding Environmental Safety

Controlled release fertilizers are designed trelease nutrients tplants over an extended period. There is growing awareness of the harmful consequences of agrochemicals on plant physiology, soil quality, animals, and people. The widespread use of these synthetic materials alshas an impact on the environment. Therefore, farmers are increasingly adopting controlled release fertilizers as an alternative tfertilizers which is driving the growth of the market.

Restraint:

Lack of awareness

Farmers in developing countries still only have a vague awareness of the advantages of specialised fertilisers. Farmers are unaware of the advantages speciality fertilisers offer in terms of cost effectiveness or how tutilise them appropriately. Also, there is little brand awareness due tthe market's extreme regional fragmentation. Hence, this is the factor restraining the growth of the market.

Opportunity:

Increasing Population

The world's expanding population and farmers' increasing use of cutting-edge farming technologies and methods are anticipated tfuel the rise. When growing turf grass, nitrogen must be utilised tits full potential. Upcoming technologies, such as inverse suspension polymerization, which are currently mostly in the research stage, will evolve swiftly and will soon be implemented commercially by enterprises. Thus, these factors are enhancing the growth of the market.

Threat:

High cost

The cost of creating controlled-release fertilisers is much higher than that of ordinary soil-applied fertilisers because more intricate production procedures are required. This is due tthe fact that controlled-release fertilisers require more time for their nutrients tbe released intthe soil. Nevertheless, the initial investment required by the farmer is toexpensive is the aspect hampering the market expansion.

Covid-19 Impact

Human activities, notably the failure of farmers tapply fertiliser at the right time, have contributed tthe COVID-19 pandemic's impact on soil fertility. In order tincrease the efficiency of agricultural input utilisation, particularly the use of fertiliser, through the adoption of innovations like sensor and satellite technology, it is imperative timplement the necessity of further improving current programmes. The technique of applying fertiliser treplace the amount of nutrients that are taken from the soil as a result of crop harvesting is known as sustainable nutrient management. The shutdown and closing of borders prohibit the importation of fertilisers.

The soil segment is expected tbe the largest during the forecast period

The soil segment is estimated thave a lucrative growth, due tsurge in the demand for food products have led tincrease in the demand for crop production in agricultural industry. Crop growth and productivity will be enhanced by a soil fertilizer—natural or synthetic—containing chemical components. Fertilizers may restore chemical elements that previous crops removed from the soil or increase the land's inherent fertility. Therefore, these are the factors improving the growth of the market.

The non-agricultural segment is expected thave the highest CAGR during the forecast period

The non-agricultural segment is anticipated twitness the fastest CAGR growth during the forecast period, due tthe usage of biodiesel. Crops that are grown for the production of biogas and alternative fuels are the most common non-agricultural end uses. A liquid fuel made from renewable resources is called biodiesel. Also, government investments and policies aimed at building biofuel and biogas production facilities have increased the necessity of raw materials, which will propel market expansion.

Region with Largest share:

Asia Pacific is projected thold the largest market share during the forecast period owing tthe high level of technological advancements. Excellent results on rice crops achieved by controlled-release fertilizers are anticipated tbe another factor driving the growth. Increasing government support and consumer awareness regarding the use of fertilizers tincrease yield are the factors propelling the growth of the region.

Region with highest CAGR:

North America is projected thave the highest CAGR over the forecast period, owing tthe mature agricultural sector. Population expansion, urbanisation, and increased consumer demand for more agricultural production all contribute tthe region's market expansion. Controlled fertiliser is in higher demand as consumers shift more and more towards organic food items. Improvements in farming practises, increased R&D spending, and technological improvements all contribute trapid market expansion.

Key players in the market

Some of the key players profiled in the Controlled Release Fertilizers Market include The Mosaic Company, Florikan, CompExpert GMbh, Haifa Group Ltd, Ekompany International BV, ICL Speciality Fertilizers, Mivena BV, Kingenta Ecological Engineering Group Co., Ltd., Nutrien Ltd., Sociedad Quimica y Minera de Chile SA, Yara International ASA, Nufram Lts, ScottsMiracle-Gro, Koch Industries, Helena chemical company and JNC Corporation.

Key Developments:

In May 2022, ICL signed Framework agreements with customers in India and china tsupply 600,000 and 700,000 metric tons of potash, respectively in 2022 at 590 USD per ton.

In February 2022, ICL's introduced lawn care fertilizers containing either urea coated with sulfur and a biodegradable polymer membrane (Poly-S) or resin-coated nitrogen combined with phosphorus and potash (PACE). This avoids uncontrolled shock growth, which means less mowing effort.

Types Covered:
• Nitrogen stabilizers
• Coated and encapsulated
• Slow Release Fertilizers
• Other Types

Mode of Applications Covered:
• Fertigation
• Foliar
• Soil
• Other Mode of Applications

End Users Covered:
• Agricultural
• Non-agricultural
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements