Increasing Preference for Sustainable Agriculture to Boost Controlled Release Fertilizers Market in Asia Pacific
Controlled release fertilizers are granulated fertilizers and are responsible for releasing nutrients gradually into the soil. They are generally encapsulated or coated with organic or inorganic materials for regulating the pattern, duration, and rate of plant nutrient release. The most common polymer materials utilized for coating controlled release fertilizers include cellulose acetate (CA), polyacrylonitrile (PAN), and polysulfone (PSF). Controlled release fertilizers present numerous advantages over conventionally utilized fertilizers. These include reducing toxic gas emissions and enhancing agronomic safety, among others.
Rising Demand for Better Crop Yields to Boost Asia Pacific Controlled Release Fertilizers Market
The Asia Pacific controlled release fertilizers market is majorly driven by the increasing shift towards sustainable agriculture and the rising demand for better yield of crops. In addition, the increasing application of controlled release fertilizers within the industry for turfgrass and lawns is also predicted to offer a number of growth opportunities in the market for controlled release fertilizers in Asia Pacific. On the other hand, the absence of awareness on the advantages of controlled release fertilizers and the soaring costs of controlled release fertilizers in comparison with conventionally used chemical fertilizers may restrain the growth of this market within the region of Asia Pacific.
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Demand for Polymer Sulfur Coated Urea to Rise Exponentially by 2023
In terms of product, the market is segmented into polymer sulfur coated urea/sulfur coated urea, polymer coated NPK fertilizers, polymer coated urea, and others such as micronutrients. Amongst these, sulfur coated urea is coated with a suspension of liquid sulfur for safeguarding each granule’s coating uniformity. On the other hand, polymer sulfur coated urea is coated with sulfur, following which they are coated with 1% polymer. The demand for polymer sulfur coated urea/sulfur coated urea is predicted to increase exponentially by 2023 owing to it being a useful substitute to urea because of its eco-friendly, cost-effective, and resource-saving properties.
Controlled release fertilizers are used for the cultivation and optimum growth of cereals and grains, fruits and vegetables, oilseeds and pulses, and others such as ornamental plants and turf, among others. Amongst these application segments, in 2014, the segment of cereals and grains led the market with a share of 60% in the region of Asia Pacific.
China Controlled Release Fertilizers Market to Lead by 2023
Geographically, in 2014, the controlled release fertilizers market in Asia Pacific was led by China on the basis of volume. This country was trailed by India, Japan, Myanmar, Australia, Korea, Cambodia, Indonesia, Malaysia, Pakistan, Thailand, Vietnam, the Philippines, and Rest of Asia Pacific. China is predicted to remain the largest and most swiftly developing market for controlled release fertilizers within Asia Pacific as well as globally till 2023. However, owing to recent economic slowdowns, the China controlled release fertilizers market is predicted to lose some of its market share in the coming years.
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The key players dominant in the market are ATS Group, Shikefeng Chemical Industry, AgroBridge (Malaysia), Haifa Chemicals Ltd., Greenfeed Agro Sdn Bhd, Nufarm Ltd., Eurochem Agro Gmbh, HIF TECH SDN. BHD, Compo GMBH & Co. KG, Central Glass Co Ltd., and Kingenta Ecological Engineering Group Co., Ltd., among others.
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