LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global controlled-release fertilizer market to grow at a CAGR of around 6% during 2018-2022, according to their latest report.
This market research report segments the global controlled-release fertilizer market into the following three major applications (cereals and grains, oilseeds and pulses, and fruits and vegetables) and three major regions (the Americas, APAC, and EMEA).
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Superior to other coated and non-coated fertilizers: key market driver
Proper nutrient management is completely dependent on four R’s, i.e., right nutrient, at the right time, at the right rate, and in the right place for the selected crop. Controlled-release fertilizers, slow release fertilizers (SRFs), and quick release fertilizers (QRFs) belong to the category of enhanced efficiency fertilizers or specialty fertilizers. Controlled-release fertilizers and SRFs are coated fertilizers, whereas QRFs are non-coated fertilizers.
QRFs are water-soluble fertilizers and are majorly applied to the soil for better productivity. However, QRF is independent of the temperature and moisture content of the soil, thus releasing all the nutrients soon after application. Plants require different rates of nutrient release during their life cycle. For example, snap bean displays a slow-fast growth pattern; and thus, requires very little nutrient content during its early stage, higher nutrient content during the middle stage, and fewer nutrients at its late stage. The consumption of QRF is very limited due to its consistent rate of nutrient release, which does not synchronize with the dynamic growth rate of crops.
Similarly, SRF is a coated specialty fertilizer which releases nutrients to the soil based on moisture and temperature of the soil. The nutrient release is very slow. Typically, SRFs take nearly 1-to-18 months to release all nutrients, and thus may not synchronize effectively with the growth pattern of crops.
“Compared to SRFs and QRFs, controlled-release fertilizers perform well. They are coated with organic or inorganic materials. The encapsulation material controls the rate, duration, and pattern of the nutrient release. The release of nutrients in the case of controlled-release fertilizer synchronizes with the changing requirement of crops, environmental parameters, and the growth pattern,” says a senior analyst at Technavio for agrochemicals and fertilizers research.
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Global controlled-release fertilizer market segmentation
Of the three major applications, the cereals and grains segment held the largest market share in 2017, accounting for over 36% of the market. The market share for this application is expected to increase by over 1% by 2022, establishing it as the fastest growing application.
APAC was the leading region for the global controlled-release fertilizer market in 2017, accounting for a market share of over 40%, followed by the Americas and EMEA. The market share of APAC is expected to increase further over the forecast period while that of the other two regions will witness a decline.
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