Global controlled release fertilizer market set to grow by 6.7 per cent

Research and Markets' latest report into the global controlled release fertilizer market suggests the sector will grow by 6.7 per cent to 2021.

Global Controlled Release Fertilizer Market - Growth, Trends and Forecasts (2016 - 2021) suggests the market is estimated to grow at a compound annual growth rate of 6.7 per cent during the forecast period 2016-2021 from an estimated market value of $2739.5 million in 2015.

Increasing demand for high-efficiency fertilizers, shrinking farm land and land productivity, and environment friendly operation mode of the fertilizers are the key factors driving the market demand for controlled release fertilizers globally, says the report.

Growing demand from developing regions and increased government and industry support would help in sustaining the market growth in the forecast period. However, regulatory and environmental constraints for some coated products and high manufacturing cost are creating obstacles for market growth.

In the EU, a new ruling is changeing the rules for CRF sale. It could be sold in one EU country if the national government allows it. Otherwise the  rule change is effectively a ban across the EU because industry cannot comply with the change  until they develop and test a new product which they estimate will be five years.

Companies in the report include Yara, Scotts and Compo.

 


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