Intense competition among players is the key
characteristic of the business landscape of the Asia Pacific
controlled release fertilizers market. The top two players, namely,
Kingenta Ecological Engineering and Shandong Shikefeng Chemical,
collectively held nearly 50% of this market in 2014, demonstrating a
moderately consolidated market structure, finds Transparency Market
Research (TMR).
Fertilizer manufacturers in Asia Pacific are making
use of advanced technologies and economies of scale to produce
low-cost specialty fertilizers, of which controlled release
fertilizer is one of the fastest-growing segment. In the near future,
these companies will be focusing on increasing their production
capacities and constructing new business facilities in emerging
markets to expand their reach.
This 155 page report gives readers a comprehensive
overview of the Controlled Release Fertilizers market. Browse Market
Research Report @
Increasing Need for Food Boosts Adoption of
Controlled Release Fertilizers
The population in Asia Pacific has been reporting an
exponential rise since the last few years. According to the United
Nations Economic and Social Commission for Asia Pacific (UN ESCAP),
the region is home to more than 4.4 billion people, accounting for
almost 60% of the world’s population.
With this robust population base, the need for food
is growing unprecedentedly in this region. On top of it, the need for
shelter is also increasing extensively, leading to the dwindling of
arable land. Hence, farmers are increasingly using controlled release
fertilizers to enhance their agricultural output from the limited
available land.
Besides this, agriculturalists in Asia Pacific are
focusing on upgrading their farming methods to boost their crop yield
in order to meet the growing demand for food. As controlled release
fertilizers possess eco-friendly properties and are more efficient
than conventional fertilizers, their application will be increased
significantly in this region over the forecast period.
Controlled Release Fertilizers find Highest
Adoption in China and India
The Asia Pacific controlled release fertilizers
market is likely to expand at a CAGR of 7.20% during the period from
2015 to 2023, estimates TMR. The market’s opportunity will rise
from US$1.1 bn in 2014 to US$2.1 bn by the end of the forecast
period.
China and India are the most attractive markets for
controlled release fertilizers in Asia Pacific. In 2014, China
emerged as the dominant consumer of these fertilizers, holding a
share of over 75% in terms of volume. Other regional markets exhibit
moderate attractiveness due to the low adoption of these fertilizers
in the agriculture and horticulture sectors.
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Most of the demand for these fertilizers arises from
cereals and grain crops. Analysts expect this demand to increase
substantially over the forecast period. Sulfur coated urea or polymer
sulfur coated urea is the highest consumed controlled release
fertilizer in Asia Pacific. This segment contributed a share of over
45% of the total consumption of these fertilizers in 2014.
The study presented here is based on a report by
Transparency Market Research (TMR) titled “Controlled Release
Fertilizers Market - Asia Pacific Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 - 2023.”
The report segments the controlled release
fertilizers market in Asia Pacific into:
By Product
- Polymer sulfur coated urea/sulfur coated urea
- Polymer coated urea
- Polymer coated NPK fertilizer
- Others (including coated micronutrients, etc.)
By Application
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
- Others (including turf, ornamental plants, etc.)
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