Controlled-Release Fertilizers Market

The controlled-release fertilizers market is projected to grow at a CAGR of 6.29% from USD 1.56 Billion in 2017, to reach USD 2.12 Billion by 2022. Due to the increasing demand for high efficiency fertilizers to minimize nutrient losses, controlled-release fertilizers have been gaining preference for their beneficial characteristics such as patterned nutrient release and their effect on the agricultural yield.

The years considered for the study are as follows:

• Base year – 2016
• Estimated year – 2017
• Projected year – 2022
• Forecast period – 2017 to 2022

The objectives of the report

• Determining and projecting the size of the controlled-release fertilizers (CRFs) market with respect to their types, crop types, application methods, and regional markets, over the period ranging from 2017 to 2022
• Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
• Analyzing the demand-side factors on the basis of the following:
• Impact of macro- and micro-economic factors on the controlled-release fertilizers market
• Shifts in demand patterns across different subsegments and regions

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Limited adoption of controlled-release technology

Controlled-release fertilizers have been in use since a long time in countries such as the US and in Western European countries. However, the technology has been relatively nascent for developing countries. Limited awareness on the advantages of CRF with respect to application cost and environmental concerns has been hampering the growth of this market to a large extent. The main reason for the low rate of adoption of this technology is the established conventional fertilizers market, since the demand for conventional fertilizers among farmers has been strongly fueled by their belief in high crop returns.

Though there is a high impact on the long-term cost associated with the application of fertilizers, the initial cost to be invested by the farmers is quite high which restrains the farmers to adopt this technology. Also, beliefs among the farmers from developing countries on the advantages of using large amounts of fertilizers multiple times would increase crop yield and quality, is not the same with controlled-release fertilizers, which further leads to the rising unwillingness in adopting the technology. Moreover, in developing countries, large amounts of subsidies are provided by the government over conventional fertilizers. For instance, in India, there are a number of subsidies extended to the farmers for NPK fertilizers such as Nutrient-Based Subsidy (NBS), Essential Commodities Act 1955 (ECA), and Concession Scheme for P&K Fertilizers; however, not much subsidy is granted for smart fertilizers, which further impacts the adoption of this technology among farmers.

On the other hand, in countries such as India and China, where agriculture is the major source of income for more than half of the country’s population, farmers are not willing to take risks against their crop production. According to the Institute of Management Development and Research (IMDR), India, small retailers and shopkeepers are unwilling to stock and sell smart fertilizers in the country as they feel their quality is unreliable.

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Significant competition to capitalize the market potential among international manufacturers in the Asia Pacific region

The Asia Pacific region accounted for the highest adoption of controlled-release fertilizers in the agricultural industry in 2016, owing to the growth in awareness about environmental benefits associated with these fertilizers. This region is also projected to be the fastest-growing market for controlled-release fertilizers in agricultural applications from 2017 to 2022. The significant growth in adoption of polymer coated fertilizers and N-stabilizers strengthened controlled-release fertilizers the market potential for local fertilizer manufacturers to develop better and efficient coatings/products.

This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. These companies include Agrium (Canada), Yara (Norway), ICL (Israel), Kingenta (China), and Helena Chemical (US), which are some of the well-established and financially stable players that have been operating in the industry for several years. Other players include ScottsMiracle-Gro (US), SQM (Chile), Haifa Chemicals (Israel), Koch Industries (US), AGLUKON (Germany), COMPO EXPERT (Germany), and JCAM AGRI (Japan).