Based on the product trends, controlled release fertilizers market is classified into polymer coated urea, polymer sulfur coated urea, polymer coated NPK, and sulfur coated urea. Polymer sulfur coated urea, which collected a revenue of USD 1 billion in 2015, will surpass USD 1.75 billion by 2024. It is set to grow at a rate of 6% over the period of 2016-2024 and will make substantial contributions towards global controlled release fertilizers market size.
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Controlled release fertilizers market is expected to enhance the yield of the crops such as oilseeds & pulses, cereals & grains, and fruits & vegetables. Cereals & grains, which produced a revenue of over USD 900 million for controlled release fertilizers industry in 2015, is predicted to grow at a CAGR of 6% over the coming timeframe. Substantial use of cereals & grains in food items is projected to upswing controlled release fertilizers market size.
In a bid to respond to the food supply-demand imbalance challenges, an immediate need of increasing the crop yields, is pushing Controlled Release Fertilizers Market globally. An inversely proportional relation of population growth and per capita cultivated land has led the necessity to that level that majority agronomists around the world are shifting toward long lasting fertilizers that enable better productivity.
An estimation of WHO depicts that 50% per hectare agricultural output needs to be increased to feed the growing population. Global food demand is expected to increase by 35% over the coming ten years and 75 % of the demand will be addressed by increased productivity. Additionally, strategic partnership between renowned companies along with incorporation of upgraded software in improving the soil fertility is giving controlled release fertilizers market a profitable growth landscape.
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The product with its characteristic of efficient controlled release of nutrients will revolutionize the agriculture sector globally. Rising health issues will also promote the use of the product. Asia Pacific is estimated to hold the largest share of the product in the market with a revenue crossing USD 2 billion by 2024. North America controlled release fertilizers market is expected to hold more than one-fifth of the global share of the product in terms of volume by 2024.
The controlled release fertilizers market is highly competitive with companies involved in strategic partnerships and mergers. Some of the major companies involved in manufacturing of the product are Greenfeed Agro Sdn Bhd, ATS Group, Israel Chemicals, AgroBridge, Yara International, Haifa Chemicals Ltd., Central Glass Co., Ltd., Eurochem Agro Gmbh, Agrium, Inc., ICL Specialty Fertilizers, Scotts Miracle-Gro, Kingenta Ecological Engineering Group Co., Ltd., etc.
Major Point From Table Of Content:
Chapter 5 Controlled Release Fertilizers Crop Insights
5.1 Controlled release fertilizers market share by crop, 2015 & 2024
5.2 Cereals & grains
5.2.1 Global market estimates and forecast, 2013 – 2024
5.2.2 Global market estimates and forecast, by region, 2013 – 2024
5.3 Oilseeds & pulses
5.3.1 Global market estimates and forecast, 2013 – 2024
5.3.2 Global market estimates and forecast, by region, 2013 – 2024
5.4 Fruits & vegetables
5.4.1 Global market estimates and forecast, 2013 – 2024
5.4.2 Global market estimates and forecast, by region, 2013 – 2024
5.5.1 Global market estimates and forecast, 2013 – 2024
5.5.2 Global market estimates and forecast, by region, 2013 – 2024
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