Controlled-release Fertilizers Market by Type (Slow Release, Coated and Encapsulated, Nitrogen Stabilizers), End Use (Agricultural and Non-Agricultural), Mode of Application (Foliar, Fertigation, Soil) and Region - Global Forecast to 2028
Northbrook, IL 60062 -- (SBWIRE) -- 11/24/2023 -- In a recent research report titled "Controlled-release Fertilizers Market by MarketsandMarkets," the controlled-release fertilizers market is projected to grow from USD 2.2 billion in 2023 to USD 2.9 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 5.9%. This growth is attributed to the increasing demand for controlled-release fertilizers, driven by their capacity to improve nutrient efficiency, reduce environmental impact, and align with sustainable agricultural practices.
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The slow-release segment is expected to experience the highest CAGR during the forecast period. This growth is fueled by the inherent benefits of slow-release fertilizers in enhancing agricultural sustainability and productivity. These fertilizers align with precision agriculture techniques, ensuring optimal nutrient uptake by crops while minimizing wastage. The adoption of slow-release fertilizers is further driven by factors such as resource management improvement, reduction of nutrient runoff, and compliance with environmental regulations.
The non-agriculture segment emerged as a significant driver in the controlled-release fertilizer market in 2022. Urban areas are increasingly relying on controlled-release fertilizers for sustainable solutions in golf courses, municipal parks, residential complexes, and other non-agricultural spaces. The controlled and gradual nutrient release of these fertilizers contributes to lush and vibrant green spaces, enhancing the aesthetics of urban environments.
Argentina is anticipated to be the fastest-growing market in the South American region. The country's commitment to sustainable farming practices aligns with the global trend, making controlled-release fertilizers a natural fit. Argentina's strong agricultural foundation, focus on innovation, and strategic export position create favorable conditions for both the production and adoption of controlled-release fertilizers.
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Major players in the controlled-release fertilizers market include Yara, Nutrien Ltd., Mosaic, ICL, Nufarm, Kingenta, ScottsMiracle-Gro, Koch Industries, Helena Chemicals, and SQM.
This market trend reflects a global shift towards sustainable agricultural practices, where controlled-release fertilizers play a pivotal role in meeting the needs of both farmers and environmental concerns.
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