DUBLIN–(BUSINESS WIRE)–The “Polymer Coated NPK Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.
The polymer-coated NPK market is estimated to witness a CAGR of 6.2%, during the forecast period (2020-2025).
Key Market Trends
North America is the Largest Market
North America occupied the largest share in the market for polymer-coated NPK fertilizers, with the United States contributing to the largest share in the region. The North American market was valued at USD 544.9 million in 2019 and is expected to grow at a rapid pace during the forecast period. According to “International Fertilizer Industry Association”, from the last decade, field experiments and trial projects related to polymer fertilizers in agriculture crops have increased the demand, primarily from citrus fruit, strawberry, vegetables, and nut growers.
The ongoing research on sugarcane cultivation research reveals that the net return from controlled-released fertilizers for sugarcane is USD 2,839.0 per hectare, whereas, for traditional NPK fertilizers, it is USD 2,173.0 per hectare. Several companies, like Agrium and Koch Agronomic Services, provide advanced polymer coating technology for a consistent release of NPK fertilizers for commercial products in the region. The controlled-release technology through polymer coating provides fruits with efficient and consistent consumption of NPK fertilizer. This, in turn, improves the quality of the fruits and fewer fruit drops, thereby, driving the demand for the same in the future.
Broadacre Segment is the Largest Segment by Crop Type
The broadacre segment occupied the largest share in the overall market for polymer-coated NPK fertilizers, globally. Commodity crops, such as maize and wheat, are applied with poly-coated NPK, which results in balanced nutrient consumption by crops throughout their growth phase.
Three out of every four farmers in the United States and Canada rely on agronomists for fertilizer recommendation for their crops. As a result of the advent of polymer coating technology and its added benefits like fewer leaching losses, a total of USD 5.5 million was invested in the R&D of the fertilizer industry in 2015, primarily for the development of new eco-friendly fertilizer products, such as polymer-coated controlled-release varieties. In the United States, Multicote Agri from Haifa is used in potatoes, which increases the yield by up to 12 metric ton per hectare, as compared to conventional fertilizers, which provide a maximum yield of 8-9 metric ton per hectare. Grains and cereals constitute 65% of the total nutrient requirement in Europe.
According to the European Commission, cereal production is expected to grow to 320 million metric ton by 2030. Currently, majority of the NPK blend fertilizers are found to be for grains and cereals in the region. The coatings used for the fertilizers have different time periods to release the nutrients and they range from 4 – 24 months, and this property of poly-coated NPK fertilizers is expected to drive the market during the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 PRODUCT OVERVIEW
4.1 Broad Acre Segment
4.2 Horticulture Segment
5 MARKET DYNAMICS
5.1 Market Drivers
5.2 Market Restraints
6 MARKET SEGMENTATION
6.1 Crop Type
6.1.1 Grains and Cereals
6.1.2 Pulses and Oilseeds
6.1.3 Commercial Crops
6.1.4 Fruits and Vegetables
6.1.5 Turf and Ornamentals
7 COMPETITIVE LANDSCAPE
7.1 Most Adopted Strategies
7.2 Market Share Analysis
7.3 Company Profiles
7.3.1 Haifa Group
7.3.2 J.R.Simplot Company
7.3.3 ICL Specialty Fertilizers
7.3.4 DeltaChem GmbH
7.3.5 Florikan ESA LLC
7.3.6 Pursell Agritech
7.3.7 Ekompany International BV
7.3.8 Knox Fertilizer Company Inc.
7.3.9 Compo Expert
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/68ap2p
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