Global Controlled-Release Fertilizers Market Analysis 2022
The Global Controlled-Release Fertilizers Market is expected to reach $4.38 billion by 2028 growing at a CAGR of 6.5% from 2021 to 2028. Controlled release fertilizers mostly known as CRFs, are fertilizers that contain plant nutrients in a form that can be utilized by the plant at certain time intervals. The nutrient release rate pattern in these fertilizers is specifically designed to meet the changing nutrient requirements of crops. These controlled-release fertilizers are getting rapid recognition as effective nutrient management tools for food as well as non-food crops in the global marketplace.
Factors such as increasing demand for high-value crops, rising environmental concerns, and favourable government policies are driving the growth of the market. However, improper management of controlled-release fertilizers and lack of awareness among farmers are restraining the growth of the market.
Based on type, the coated & encapsulated segment is going to have a lucrative growth during the forecast period which can be attributed to the increasing adoption and broad availability across both developed as well as developing economies. Controlled release fertilizers with polyolefin resin coating are becoming extremely popular across agri-dominant economies due to their highly controlled nutrient release characteristics. Moreover, use of a variety of organic and synthetic polymer coating to encapsulate fertilizers has emerged as a crucial method of increasing nutrient uptake in plants and promotes healthy growth.
The key vendors mentioned are Agrium, Aglukon, Eurochem Agro Gmbh, Haifa Chemicals, Helena Chemical, ICL Group, JNC Corporation, Kingenta, Koch Industries, Nufarm Ltd, Nutrien Ltd, Pursell Agri-Tech, ScottsMiracle-Gro, SQM, The Mosaic Company, and Yara International ASA.
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