Global Controlled-release Fertilizer Market 2018-2022
About Controlled-release Fertilizer
Controlled-release fertilizers are enhanced efficiency fertilizers, usually encapsulated with a polymer resin to control the nutrient release rate and pattern of the release. Controlled-release fertilizers, based on their releasing rate are also known by the name time-release fertilizers or slow-release fertilizers.
Technavio’s analysts forecast the global controlled-release fertilizer market to grow at a CAGR of 5.60% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global controlled-release fertilizer market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of controlled-release fertilizer.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Controlled-release Fertilizer Market 2018-2022
Technavio recognizes the following companies as the key players in the global controlled-release fertilizer market: Nutrien, BASF, ICL, Kingenta, The Mosaic Company, and Yara.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is extensive mergers, acquisitions, partnerships, and innovation among active vendors. The global controlled-release fertilizer market experiences extensive mergers and acquisitions mainly for product expansion. Many vendors in the market are into product innovations for the identification of new application areas and to improve the performance of the fertilizer to increase product consumption by end-users. In 2016, Nutrien, one of the leading manufacturers of controlled-release fertilizers came up with an environmentally friendly fertilizer called as Environmentally Smart Nitrogen (ESN), which is basically a coated fertilizer that works on soil moisture and atmospheric temperature.”
According to the report, one of the major drivers for this market is Better When compared to other coated and non-coated fertilizers. Proper nutrient management is completely dependent on four R’s, i.e., right nutrient, at the right time, at the right rate, and in the right place for the selected crop. Controlled-release fertilizers, slow release fertilizers (SRFs), and quick release fertilizers (QRFs) belong to the category of enhanced efficiency fertilizers or specialty fertilizers. Controlled-release fertilizers and SRFs are coated fertilizers, whereas QRFs are non-coated fertilizers.
Further, the report states that one of the major factors hindering the growth of this market is Higher prices for engineered fertilizers than conventional fertilizers. One of the most important restraining factors for the growth rate of the market is the high cost of the product. The price for engineered fertilizers is very high when compared to conventional fertilizers like urea and NPK fertilizers.
Nutrien, BASF, ICL, Kingenta, The Mosaic Company, and Yara.
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