Dublin, March 05, 2024 (GLOBE NEWSWIRE) -- The "North America Controlled Release Fertilizer - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2030" report has been added to ResearchAndMarkets.com's offering.
The North America Controlled Release Fertilizer Market size is estimated at USD 570.15 million in 2024, and is expected to reach USD 900.40 million by 2030, growing at a CAGR of 7.91% during the forecast period (2024-2030).
Key Highlights
- Largest Segment by Type - Straight : CRF Urea releases nitrogen in a gradual manner. As nitrogen is the most applied fertilizer, CRF urea can prevent nitrogen mineralization that degrades the soil quality.
- Largest Segment by Coating Type - Polymer Coated : These fertilizers effectively supply all the essential primary and secondary nutrients, coupled with micronutrients, reducing the need for multiple fertilizer applications.
- Largest Segment by Crop Type - Field Crops : Field crops dominate the North American fertilizers market due to the large cultivation area in the region. Field crops account for more than 95% of the total crop area.
- Largest segment by Country - United States : The United States accounts for about 69% of the total agricultural crop area in the region. The country is one of the major producers of fertilizers in North America.
Polymer Coated is the largest segment by Coating Type.
- The North American controlled-release fertilizer market grew by 70.6% during the study period. Precision farming is widely practiced in North America. An important component of precision farming is the provision of the right dosage of nutrients to crops at the right time. Thus, controlled-release fertilizers serve as important inputs in precision farming.
- Field crops occupy 82.4% of the overall market, followed by turfs and ornamentals, which constitute 13.9% of the market share. These types of coated controlled-release fertilizers are commonly used in specialty, high-value crops like cereals, grains, and vegetables, as well as in areas like orchards and nurseries. Although the use of specialty chemicals is limited in row crops, their usage is increasing due to higher grain prices, environmental concerns, and other regulations.
- The United States is the largest market for controlled-release fertilizers. It accounted for 81.9% of the market in 2021, registering a growth of 70.43% during the study period.
- With the growing technological advancements in the fertilizer industry, the Environmental Protection Agency (EPA) and the US Department of Agriculture (USDA) partnered with various stakeholders, such as The Fertilizer Institute (TFI), the International Fertilizer Development Center (IFDC), The Nature Conservancy (TNC), and the National Corn Growers Association (NCGA), to boost awareness about controlled-release fertilizers among farmers. These factors are anticipated to boost the country's field crop production.
A selection of companies mentioned in this report includes
- Agro Liquid
- Compo Expert GMbh
- Florikan
- Haifa Group Ltd
- ICL Speciality Fertilizers
- Nutrien Ltd.
- Sociedad Quimica y Minera de Chile SA
For more information about this report visit https://www.researchandmarkets.com/r/wsxpf
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