New York, Nov. 30, 2020 (GLOBE NEWSWIRE) — The global controlled-release fertilizers market size is forecast to reach USD 3,543.3 Million by 2027, according to a new report by Reports and Data. The controlled-release fertilizers market is observing high demand owing to the growing global population. Population across the globe is presently growing at a rate of about 1.05% per year. The average increase in population is anticipated to be 81 million people each year. The world population has increased two-fold from 3 billion in 1959 to 6 billion in 1999. It is projected that it will take approximately 40 years to grow by another 50% to reach 9 billion by the year 2037. This trend indicates a growing need for food products worldwide. Food demand is likely to increase in the range of 59.0% to 98.0% by 2050. One of the ways this demand could be met is by improving productivity on existing agricultural lands by using controlled-release fertilizers.
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The COVID-19 impact:
The COVID-19 pandemic is having a significant impact on the controlled-release fertilizers industry. Demand for controlled-release fertilizers is suffering severe shocks across various end-use markets. Worldwide supply chains are upset, and the competitive order of manufacturers has witnessed a change. The shortage of demand has pushed the global chemical sector into an oversupply situation. The lack of free movement of the labor force required for the application of fertilizers in the agricultural fields has become conspicuous, thereby hindering the growth of the market in the COVID-19 pandemic. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
Further key findings from the report suggest
- Application of controlled-release fertilizers results in lower root zone pH than water-soluble fertilizers provided the crops are properly irrigated. Based on rate and crop, controlled-release fertilizers may result in the production of more compact crops and plants requiring reduced usage of growth regulators.
- The application of controlled-release fertilizers is an excellent means of improving nutrient application management and thereby significantly reduce environmental threats while preserving good quality crop yields.
- Slow-release segment of controlled-release fertilizers held a substantial market share in 2019. Slow-release fertilizers contain water-insoluble polymers or sulfur-coated urea. Such fertilizers are beneficial in reducing runoff.
- The demand for controlled-release fertilizers in the North American region may be primarily attributed to the surging demand for fertilizer application for the production of high-value crops.
- Key participants include Mosaic Company, Koch Industries, Nutrien Limited, Haifa Chemicals, Nufarm Limited, the Andersons Inc., Yara International ASA, SQM, DeltaChem, and Helena Chemical, among others.
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For the purpose of this report, Reports and Data has segmented into the global controlled-release fertilizers market on the basis of type, distribution channel, application, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2017-2027)
- Slow-Release
- Urea-Formaldehyde
- Urea-Isobutyraldehyde
- Urea-Acetaldehyde
- Others
- Coated & Encapsulated
- Sulfur Coatings
- Polymer Coatings
- Others
- Nitrogen Stabilizers
- Nitrification Inhibitors
- Urease Inhibitors
- Slow-Release
- Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Foliar
- Fertigation
- Soil
- Others
- End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Agriculture
- Non-Agriculture
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/controlled-release-fertilizers-market
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
- North America
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