Hyderabad, Aug. 17, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Polymer Coated NPK Market Report (2023-2028)," the market is estimated at USD 1.15 billion in 2023. It is expected to register a CAGR of 5.74% during the forecast period.
Polymer-coated NPK fertilizers are primarily granular particles, which dissolve fertilizer particles to release the fertilizers in the soil gradually. The demand for polymer coated NPK fertilizers is increasing to enhance land quality.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.15 billion |
| Market Size (2028) | USD 1.52 billion |
| CAGR (2023-2028) | 5.74% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing demand for polymer coated NPK fertilizers due to the pressure on the declining pulse area. |
| The demand for food and crops and reduced per capita share of fertile land. |
Who are the Top Companies in the Polymer Coated NPK Market?
The market is consolidated and consists of various market players. Companies are using strategies like partnerships and collaborations to expand their market reach and gain a wider consumer base.
Significant players in the global polymer coated NPK market are,
- Haifa Group
- J.R. Simplot Company
- ICL Specialty Fertilizers
- DeltaChem GmbH
- Florikan ESA LLC
- Pursell Agritech
- Ekompany International BV
- Knox Fertilizer Company Inc.
- Compo Expert
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- Asia-Pacific Crop Protection Chemicals Market Report - The Asia-Pacific crop protection chemicals market value is estimated at USD 18.17 billion in 2023. It is expected to reach USD 21.07 billion by 2028, registering a CAGR of 3.00% during the forecast period (2023-2028).
- South Korea Crop Protection Chemicals Market Report - The South Korean crop protection chemicals market size is estimated at USD 0.99 billion in 2023. It is expected to reach USD 1.37 billion by 2028, registering a CAGR of 6.67% during the forecast period (2023-2028).
Key Highlights from the Polymer Coated NPK Market Report:
Declining Fertile Land and Demand for Crop Productivity
- The share of agricultural land is decreasing. This and the increasing demand for food is boosting the use of effective fertilizers.
- Biodegradable polymer coatings are being used in the controlled release of nutrients into the soil to reduce nutrient loss and conserve soil fertility.
North America to Dominate the Market
- The US government is promoting the use of sustainable fertilizers to lower excess usage of fertilizers and increase efficiency.
- The Canadian government is also encouraging the use of enhanced fertilizers to reduce nitrogen leaching and nutrient pollution.
What are the Latest Developments in the Polymer Coated NPK Market?
- In September 2022, Israel Chemicals Ltd launched a new biodegradable coated fertilizer solution, Eqo.x, for open-field agriculture.
- In March 2022, Haifa Group collaborated with HORTICOOP BV to Horticoop Andina to expand its business to Ecuador.
Mordor Intelligence has Segmented the Polymer Coated NPK Market Based on Crop Type and Geography:
- By Crop Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Grains and Cereals
- Pulses and Oilseeds
- Commercial Crops
- Fruits and Vegetables
- Turf and Ornamentals
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Netherlands
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Australia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Africa
- South Africa
- Rest of Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Polymer Coated NPK Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Brazil Crop Protection Chemical Market Report - The Brazilian crop protection chemical market size is estimated at USD 10.87 billion in 2023. It is expected to reach USD 13.35 billion by 2028, registering a CAGR of 4.20% during the forecast period (2023-2028).
- United States Crop Protection Chemicals Market Report - The US crop protection chemicals market is expected to register a CAGR of 3.90% during the forecast period (2023-2028).
- North America Crop Protection Chemicals Market Report - The North American crop protection chemicals market size is estimated at USD 14.37 billion in 2023. It is expected to reach USD 17.65 billion by 2028, registering a CAGR of 4.20% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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