Controlled Release Fertilizers Market to hit $3.9bn by 2024: Global Market Insights, Inc.

Asia Pacific Controlled Release Fertilizers Market recorded over $1 billion in product revenues and the region is likely to garner a significant chunk of the controlled release fertilizers market share in coming years on the account of rising demand.

OCEAN VIEW, Del., Nov. 9, 2017 /PRNewswire-iReach/ -- Asia Pacific has a profound ground enhancing Controlled Release Fertilizers Market outlook. It is estimated to be the fastest growing industry with an annual growth rate projection of 7% over the period of 2016-2024. The significant advancements in farming technology along with increasing adoption of upgraded methods across agro-based nations such as China, India is catering the regional market growth. Apart from this, spreading awareness about organic farming and increasing plantation for ecological sustainability is changing the regional market trends.

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Changing climatic conditions and drought conditions prevailing throughout the world because of low and untimely rainfall is increasing the requirement for sustainable agriculture. By 2030, close to 90% of the major crops are forecast to experience a reduced or stagnant growth because of climate changes. This will result in a dramatic surge in average crop price. Rice, for instance, is slated to undergo 18% to 25% decrease in growth rate and close to 90% increase in the from 2016 to 2024. Sustainable farming to improve the soil productivity even in non-friendly climatic conditions, will drive the global controlled release fertilizers market.

Rising gardening and landscaping demand in China, Japan, and India, will likely provide a growth opportunity to the Asia Pacific controlled release fertilizers market. By 2024, lawn and garden consumables in Asia Pacific will surpass USD 4 billion. Increasing disposable income and rising awareness about plantation and organic farming for ecological sustainability will account for the change of trend in the forecast timespan.

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Higher cost of the specialized grades as compared to conventional urea or NPK grades will obstruct the controlled release fertilizers market growth rate up to 2024. This restrains the product application from economically deficient farmers and agriculturists. Lack of product awareness among farmers around the world also limits the industry growth to a certain extent. However, growing awareness combined with agro-based government initiatives could help bridge this gap and boost demand for the product in coming years.

Polymer sulfur coated urea or sulfur coated urea is a noteworthy product segment with over 40% share of the global controlled release fertilizers market and will see in excess of 6% growth. Cereals & grains recorded a revenue over USD 900 million in controlled release fertilizers usage in 2015. Significant demand for cereals & grains in food products is likely to boost controlled release fertilizers market over the duration of the forecast period.

Browse key industry insights spread across 134 pages with 146 market data tables & 16 figures & charts from the report, "Controlled Release Fertilizers Market Size By Product (Polymer Sulfur Coated Urea/Sulfur Coated Urea, Polymer Coated Urea, Polymer Coated NPK), By Crop (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/controlled-release-fertilizers-market

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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2017

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