Controlled Release Fertilisers: Agrium, Yara International, and EuroChem Group project a USD 4.13 billion market value by 2030.

11th Apr 2024
Controlled Release Fertilisers: Agrium, Yara International, and EuroChem Group project a USD 4.13 billion market value by 2030.

'Global Controlled Release Fertilizers industry – Size, Trends, Share, Growth, Dynamics, Competition, and Opportunity Forecast, 2023 – 2030,' Congruence Market Insights' most recent study, offers a thorough examination of the global controlled release fertilizers industry. This study explores global and micro trends in detail, providing insights into the dynamic forces shaping the market. It includes a thorough investigation of both qualitative and quantitative elements, providing an accurate representation of market size, growth rates, yearly development, current trends, major drivers, promising possibilities, and possible obstacles. The research also emphasizes how regulatory policies and technical developments affect the state of the industry. This thorough analysis provides businesses and stakeholders with essential information to help them make wise decisions in the rapidly changing controlled release fertilizer market.

The comprehensive market study projects that the global market for controlled release fertilizers will grow at a compound annual growth rate (CAGR) of 6.2% between 2023 and 2030, to reach a valuation of USD 4.13 billion. The primary factor propelling the market's expansion is the growing need for effective nutrient management strategies that balance environmental sustainability with agricultural productivity. Controlled release fertilizers are becoming more and more popular because to their many benefits, which include less nutrient leaching, increased nutrient uptake efficiency, and extended nutrient availability in a variety of crop kinds and geographical areas. However, barriers to market expansion could include high upfront expenditures and a lack of knowledge among farmers on the advantages of controlled release fertilizers. Opportunities can be found in product improvements and technical breakthroughs meant to improve efficiency and affordability.

The market for controlled release fertilisers is dominated by Asia Pacific, mainly because of the region's widespread adoption of cutting-edge farming techniques and growing emphasis on sustainable agriculture in nations like China, India, and Southeast Asia. The increasing demand for high-value crops, growing environmental concerns, and government programmes supporting effective fertiliser usage are all factors contributing to the region's supremacy. There are significant prospects for market expansion in other areas in the future. Demand for controlled release fertilisers is being driven by the growing use of organic farming methods and precision agriculture technologies in North America and Europe. Growth prospects are presented by the need to address soil nutrient depletion and the expansion of agricultural activities in Latin America, the Middle East, and Africa.

In order to obtain a competitive advantage, major competitors in the fiercely competitive global market for controlled release fertilisers are concentrating on developing new products, forming strategic alliances, and expanding their geographic reach. Prominent participants in the industry include Agrium Inc., Yara International ASA, and EuroChem Group AG. Multinational firms and local businesses coexist in the competitive landscape, each attempting to take advantage of the expanding need for sustainable nutrient management strategies across a range of crop kinds and geographical areas.

The following companies are listed in alphabetical order: Agrium Inc., Yara International ASA, ICL Fertilisers, Koch Industries Inc., Haifa Group, EuroChem Group AG, Nutrien Ltd., Israel Chemicals Ltd., SQM S.A., The Scotts Miracle-Gro Company, CF Industries Holdings, Inc., Mosaic Company, OCI Nitrogen B.V. Group Sinochem and Compo GmbH & Co. KG.

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