Controlled release fertilizers play a crucial role in improving nutrient utilization and enhancing crop productivity. They slowly and steadily release nutrients into the soil over an extended period, allowing continuous nutrient supply to crops. This helps reduce leaching and runoff losses compared to conventional fertilizers. Controlled release fertilizers contain water-soluble polymers, resin coatings, or sulfur coatings that control the release of nutrients. They are available as granules, coated prills or Pastilles to suit various crop needs. Controlled release fertilizers improve fertilizer efficacy, reduce costs for farmers and minimize environmental pollution.
Global controlled release fertilizers market is estimated to be valued at USD 2.45 Bn in 2024 and is expected to reach USD 3.46 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5% from 2024 to 2031.
Controlled release fertilizers effectively manage the timing, rate and duration of nutrient availability according to crop requirements. This increases nutrient uptake and use efficiency while reducing loss of nitrogen and phosphorus into the environment. Leading players in the controlled release fertilizers market are Agrium, Yara International, ICL, Scotts Miracle-Gro, and Koch Industries.
Key Takeaways
The growing consumption of controlled release fertilizers market share can be attributed to increasing awareness among farmers about their numerous benefits such as higher yields, cost savings, reduced environmental pollution, and convenience of single application.This has propelled market growth across regions. Key players are expanding their manufacturing facilities and product offerings to capitalize on the surging global demand.
Key players operating in the controlled release fertilizers are Agrium, Yara International, ICL, Scotts Miracle-Gro, and Koch Industries.The growing demand for better quality crops to feed the rising global population is a major factor driving fertilizer consumption worldwide. Controlled release fertilizers help improve crop yields significantly which is expected to increase their usage. Stringent regulatory norms regarding fertilizer efficiency and environment protection are also propelling market growth.
Market Key Trends
One of the key trends witnessed in the controlled release fertilizers market is the shift towards the production of specialty controlled release fertilizers tailored to suit specific soil and crop needs. Manufacturers are developing innovative formulations using nanotechnology to create smaller, more uniformly distributed nutrient prills for superior nutrient delivery. This allows ultra-low rate application and matches nutrient supply with crop uptake patterns more precisely.
Porter's Analysis
Threat of new entrants: High capital requirement and patent protection reduces threat of new entrants.
Bargaining power of buyers: Large buyers can negotiate lower prices while small buyers have limited bargaining power.
Bargaining power of suppliers: Few manufacturers results in suppliers having some control over pricing.
Threat of new substitutes: Potential threat from innovations providing similar controlled release properties in fertilizers.
Competitive rivalry: Intense competition exists between major players to gain market share through quality, timing and distribution.
Geographical Regions
The Asia Pacific region dominates the controlled release fertilizers market regions analysis in terms of value, led by countries such as China and India due to high crop production. Rapid population growth and changing dietary preferences have increased demand for food, which is augmenting fertilizer use.
North America's market for controlled release fertilizers is expected to grow the fastest driven by supportive government initiatives and farmers preferring these over conventional fertilizers to maximize yields while minimizing environmental impact. Higher acreage under cultivation for crops like corn and soybean acts as a key growth determinant.
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Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
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