NEW YORK, Nov. 25, 2015 /PRNewswire/ -- The controlled-release fertilizers market is growing due to its ability to increase the efficiency of crop production. The controlled-release fertilizers market was valued at USD 2,178.8 million in 2014 and is projected to reach USD 3,196.5 million by 2020, at a CAGR of 6.6%. The market is driven by factors such the ability of controlled-release fertilizers to increase the efficiency of crop production, ease of application, reduced application cost, environment-friendly properties, and decrease in arable land. Growing demand for controlled-release fertilizers in Asia-Pacific region provides opportunities for emerging market players.
The coated & encapsulated fertilizers segment dominated the controlled-release fertilizers market and is projected to reach a value of 2,341.9 KT by 2020. It is projected to grow at the rate of around 6.4% between 2015 and 2020. By crop type, in terms of volume, the turf & ornamentals segment dominated the market and is projected to grow at the highest CAGR of 6.6% from 2015 to 2020. The key players adopt strategies such as new product developments, expansions, acquisitions, agreements, joint ventures to gain market share in the controlled-release fertilizers market. The Asia-Pacific region is projected to grow at the highest CAGR from 2015 to 2020 due to growth in population and the increasing demand for food products/materials and shortage of arable land.
The controlled-release fertilizers market is segmented on the basis of crop type. The crop types considered for the research are cereals & oilseeds, turf & ornamentals, fruits & vegetables and others. The types of controlled-release fertilizers which are used in various applications are also classified in the report. This report highlights the growth strategies adopted by the major market players between 2010 and 2015. Key industry players invest extensively in research and development initiatives to expand their product portfolios. Continuous investments in by key industry players have expanded the scope of the industry. The key players in this market are Yara International ASA (Norway), Agrium, Inc. (Canada), Israel Chemicals Ltd. (Israel), The Scotts Miracle-Gro Company (Ohio) and Kingenta Ecological Engineering Group Co. Ltd. (China).
Reasons to buy this report:
- To gain insights of the global controlled-release fertilizers industry
- To get an overview of the key players of controlled-release fertilizers industry and key strategies adopted by the key players and the products offered in the market
- To gain insights of the region in which the controlled-release fertilizers industry is growing
- To gain in depth knowledge of the growth of various segments
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