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APAC Controlled Release Fertilizer Market Share worth $2 mn by 2024
Published Date: 2018-12-18
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According to the Graphical Research new growth forecast report titled “Asia Pacific Controlled Release Fertilizer Market analysis based on Product, crop, Regional Outlook, Growth Trends, Competitive Landscape & Forecast to 2024”, predicted to cross USD 2 million by 2024.
The controlled release fertilizers are a form of granulated fertilizers capable to gradually release required nutrients into soil. The controlled release fertilizers are water-insoluble, and the nutritional contents would be released in a slow and gradual process into soil, thereby providing essential nutritional sustenance to crops.
Population rise in some nations of Asia Pacific, such as China and India will significantly drive the food production requirements, thereby raising the cultivable land requirements exponentially, thus driving the Asia Pacific controlled release fertilizer market till 2024.
Increasing scarcity of food crops will further create an additional requirement for good & high-quality fertilizers, adding up to the rising controlled release fertilizers demand in Asia Pacific.
The Asia Pacific controlled release fertilizer market is majorly dominated by polymer sulfur coated urea fertilizers, hold the major share throughout the forecast period. It will surpass USD 1.1 million by 2024. Polymer coated urea fertilizers will cross USD 0.5 million till 2024, at a CAGR of over 6.7%.
Cereals & grains crop segment had the major consumption in terms of volume in 2017, and this will continue its dominance till the end of the forecast period. This segment will cross USD 1.4 million by 2024, rising at a CAGR over 7.6%.
Increasing consumer awareness about sustainable and new agriculture technologies to enhance the food production will primarily accelerate the China regional market by end of 2024. This country will surpass USD 1.7 million by 2024. Japan controlled release fertilizer market will surpass USD 175.0 thousand by 2024, growing at a CAGR over 7.2%.
Preliminary players in the Asia Pacific controlled release fertilizer market are HIF Tech Sdn Bhd, AgroBridge, and Nufarm Ltd., and Greenfeed Agro Sdn Bhd among others.
Segments we Cover:
Asia Pacific Controlled Release Fertilizer Market Statistics, By Product
- Polymer sulfur coated urea/sulfur coated urea
- Polymer coated urea
- Polymer coated NPK fertilizer
Asia Pacific Controlled Release Fertilizer Market Trends, By Crop
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
The above information is provided on a country basis for the following:
- South Korea
- Sri Lanka