PUBLISHER: Allied Market Research | PRODUCT CODE: 1193374
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193374
The global controlled release fertilizers granules market size was valued at $0.5 billion in 2021, and is projected to reach $1.0 billion by 2031, growing at a CAGR of 8% from 2022 to 2031.
Controlled-release fertilizers granules (CRFGs) are granular fertilizer particles covered with a polymer or resin that limits moisture contact and dissolves the fertilizer particles to release fertilizer gradually over time. The release rate is determined by the coating's thickness and air temperature. Fertilizer will be released more quickly at warmer temperatures. The majority of CRFGs have an estimated release rate based on a temperature of 75°F. The nutrients are released over a period of 2 to 18 months, depending on the product design.
The product is protected from scorching, the release duration is predictable, and there is no nutrient leakage. Controlled release fertilizers granules are generally used as specialty fertilizers in applications, such as agricultural applications, lawn & turf, fruits and vegetables, nurseries, and gardens. Thus, the agriculture industry will hold a dominant share in the demand for controlled and slow release fertilizers. Increase in investments in sustainable and eco-friendly fertilizers propel the demand for these controlled release fertilizers granules during the forecast period.
The global controlled release fertilizers granules market is bifurcated on the basis of product type, application and region. On the basis of product type, the market is divided into sulfur-coated urea (SCU), polymer coated products, polymer-sulfur-coated urea (PSCU) and others. Depending on the application, the market is classified into agriculture and non-agriculture. Agriculture is further bifurcated into cereals & grains, oilseed & pulses, fruits & vegetables, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The key players operating in the global controlled release fertilizers granules market are Haifa Negev technologies LTD, ICL Specialty Fertilizers, Nutrien Ltd., Simplot, Allied Nutrients, Koch Industries, Knox Fertilizer Company, Neufarm, Kingenta, and ASK Chemicals GmbH. Based on product type, sulfur coated urea is widely used in agriculture for reducing some of the harmful effects of fertilizers including crop burn.
COVID-19 impact analysis on the controlled release fertilizers granules market
Post pandemic, the Indian government has set its sight on the agriculture and energy industries as they are most basic necessity for the development of the country. For instance, the government of India announced the COVID-19 social assistance package of $ 25 billion under the Pradhan Mantri Garib Kalyan Yojana (PM-GKY) to provide immediate relief to the vulnerable population. The PM-GKY package uses existing schemes to provide additional benefits to farmers and rural households. Furthermore, the government has started relaxing norms around the world, which led to continuation of business activities.
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