Dublin, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The "Polymer-Coated NPK - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029" report has been added to ResearchAndMarkets.com's offering.
The global market for polymer-coated NPK fertilizers is set for a significant growth trajectory, with an anticipated compound annual growth rate (CAGR) of 5.74% from 2023 to 2028. This marks a rise from an evaluated USD 1.15 billion in 2023 to a projected USD 1.52 billion by 2028, signaling a pivotal role for polymer-coated fertilizers in modern agricultural practices.
Strong Growth Trends Fueled by Declining Agricultural Land and Growing Environmental Concerns
The emphasis on increased agricultural productivity in the face of dwindling arable land is one of the considerable drivers for this market surge. Emerging trendlines indicate a growing enthusiasm for polymer-coated NPK fertilizers, given their role in ensuring consistent nutrient release and enhancing crop yields. The establishment of more sustainable farming practices and the reduction of ecological footprints also continue to invigorate the market.
North America Leads Market with Its Demand for High-Quality Agricultural Produce
In the regional market landscape, North America holds a commanding share, steered by significant advancements in the United States' agricultural sector. In response to environmental initiatives and government support, such as the US Environmental Protection Agency's Nutrient Reduction Memorandum, the demand for sustainable and efficient fertilizers is witnessing a notable upswing.
Advancements and Innovations by Key Industry Players Propel Market Forward
- Players such as Haifa Group, J.R.Simplot Company, and ICL Specialty Fertilizers are at the market's forefront, pioneering innovations that cater to the nuanced needs of modern agriculture.
- Partnerships underpin the strategic expansions with firms leveraging shared knowledge, resources, and marketing heft to navigate the competitive landscape.
Research efforts underline the efficacy of polymer-coated NPK fertilizers in delivering not just agronomic benefits but also contributing to long-term environmental sustainability. With the ever-increasing global focus on food security and efficacious resource utilization, such market intelligence underscores the necessity for continuous innovation and adoption in the agricultural sector.
A selection of companies mentioned in this report includes:
- 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
For more information about this report visit https://www.researchandmarkets.com/r/dngf56
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