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Controlled Release Fertilizers Market from polymer sulfur coated urea segment has gained remarkable traction

Author : Ravi Chawat | Published Date : 2020-08-31 

Polymer sulfur coated urea has gained remarkable traction as a controlled release fertilizer and the segment accounts for more than 40% share of the global market. Despite having a higher price index, almost triple the price of conventional fertilizers, the product is highly demanded as it requires less frequent application, resulting in significant equipment and labor expense reduction. Polymer sulfur coated urea market is expected to register a CAGR of more than 6% over 2016-2024.

Speaking further on the product spectrum of the market, polymer coated NPK fertilizers segment is also exhibiting noteworthy expansion. Polymer coated NPK fertilizers are extensively used for the cultivation of crops & grains and is accountable for more than 20% share of the globalvolume.

Highly influenced by the established agriculture sector in countries such as China and India, Asia Pacific is likely to dominate the regional hierarchy of controlled release fertilizers market in the foreseeable timeframe. Moreover, substantial demand from various agrarian economies present in the region will aid the market size to exceed USD 2 billion by 2024.

Elaborating further on the regional contribution, Europe accounts for an advantageous share of the global market. Elevated usage of controlled release fertilizers in the gardening industry is supporting regional market outlook. The Netherlands being a major producer of gardening plants and flowers is deemed to be a major contributor to the regional market. Other key revenue pockets  include Germany, France, and Italy.

North America market is expected to procure more than one-fifth volume share of the market by 2024. The growth is bolstered by decreasing share of arable land in the region, especially in the US. As per estimates, arable land in the US reduced from 18% in 2005 to 16.6% in 2016.

In recent years, controlled release fertilizers have gained immense popularity, garnering substantial attention from agronomists and growers throughout the world. Various scientific studies have shown that farmers can attain higher production and quality through controlled fertilizers.

Controlled fertilizers deliver results that are almost as good as standard fertilizers, and they do so while using less fertilizers; sometimes less by almost 25%. Controlled release fertilizers also facilitate added benefits of leaching nutrients on a smaller scale while also requiring far fewer application passes.

From a regional perspective, Middle East and Africa is projected to emerge as a prominent avenue of growth for controlled release fertilizer market during the forecast timeframe. Africa, especially, represents a significant yet relatively untapped industry landscape. Agriculture plays a crucial role throughout Africa, providing employment to approximately 65% of the continent’s workforce and contributing more than 32% of the region’s total GDP.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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