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Asia-Pacific Controlled Release Fertilizers Market is at the cusp of crossing USD 791.4 million in 2021

By   /  May 3, 2018  /  Comments Off on Asia-Pacific Controlled Release Fertilizers Market is at the cusp of crossing USD 791.4 million in 2021

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Source: Emailwire Global Press Release Newswire

(EMAILWIRE.COM, May 02, 2018 ) The Asia-Pacific Controlled Release Fertilizers Market was worth $576 million in 2016 and estimated to be growing at a CAGR of 6.56%, to reach $791.4 million by 2021. Asia pacific is anticipated to witness highest CAGR in controlled release fertilizers� market with Japan, China and India leading the way.

The benefits of using controlled fertilizers are saving of resources, decrease in labor cost and environmental friendly nature as equated to conventional fertilizers. They are also very efficient and have the ease of application.

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The key reasons prompting the growth of controlled release fertilizers market are rise in population and growing demand for food. The surge in application of controlled release fertilizers in crop production owing to its environmental friendly properties is also assisting to increase the market growth. The key restraint of this market is high cost of controlled fertilizers in comparison to conventional fertilizers.

Asia-Pacific market for controlled release fertilizers is segmented by type into Chemical Condensation Products, Coated and Encapsulated Fertilizers, Nitrogen Stabilizers and Other Controlled Release Fertilizers. Based on application the controlled release fertilizers market is segregated into crop based and non-crop based fertilizers. Crop based fertilizers are further divided into Grains & Cereals, Oil seeds and Fruits & Vegetables. While non-crop based fertilizers are bifurcated into Turf & Ornamental Grass and other non-crop based fertilizers. Crop based controlled release fertilizers segment is expected to increase at highest rate due to increase in demand for crops because of increase in population.

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Geographically the Asia-Pacific market is segmented into China, India, Japan, South Korea and Australia. China is dominating the Asia-Pacific region market while Japan is expected to grow at highest CAGR in the forecast period.

The market for controlled release fertilizers is described with strong competition with the large number of big and small players. The Chisso Corporation, Shandong Shikefeng Chemical Industry Co. Ltd., Kingenta Ecological Engineering Group Co. Ltd., Scotts Miracle-Gro Company, Agrium, Yara International, Israel Chemicals Ltd. (Israel), Compo GmbH Co., Sociedad Quimica Y Minera S.A. and Haifa Chemicals Limited are some of the big players in controlled release fertilizer industry.

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