Coated Granular Fertilizers Market Analysis and Latest Trends
Coated granular fertilizers are a type of blended or compound fertilizer that consists of a central granule coated with a protective layer. The coating may be made of different materials, such as sulfur, polymer, or other chemical compounds. This coating provides controlled-release properties to the fertilizer, enabling the slow release of nutrients over an extended period of time.
The market analysis of coated granular fertilizers reveals a positive growth trend. Factors driving this growth include the rising demand for food due to a growing global population, limited availability of arable land, and the need to increase crop yields. The controlled-release properties of coated granular fertilizers offer advantages such as reduced nutrient loss, improved nutrient absorption, and enhanced crop growth, thus making them a preferred choice among farmers.
Coated granular fertilizers are gaining popularity, particularly in regions with high agricultural activities, such as North America, Europe, and Asia-Pacific. The increasing adoption of precision farming practices and the emphasis on sustainable agriculture are further contributing to the market growth of coated granular fertilizers. Additionally, the trend of organic farming and the growing awareness about environmental impact are driving the demand for eco-friendly and low-pollution fertilizers like coated granular fertilizers.
The market for coated granular fertilizers is expected to witness steady growth with a projected CAGR of 13% during the forecast period. This growth can be attributed to the benefits offered by coated granular fertilizers in terms of improving crop productivity, reducing environmental impact, and optimizing nutrient utilization. As farmers seek innovative solutions to enhance their agricultural practices, the demand for coated granular fertilizers is anticipated to continue growing in the coming years.
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Coated Granular Fertilizers Major Market Players
The coated granular fertilizers market is highly competitive, with several key players vying for market share. Some of the prominent players in this market include The Mosaic Company, ICL Specialty Fertilizers, Everris BV (now a part of ICL Specialty Fertilizers), COMPO Expert GmbH, JNC Corporation, Hanfeng Evergreen Inc., JCAM Agri. Co. Ltd., Smart Fert Sdn Bhd, and Chongqing SHICHUANTAIAN Chemical Industry CO, among others.
The Mosaic Company is one of the leading companies in the coated granular fertilizers market. It is a global fertilizer producer and distributor, with a strong presence in North America. The company has a long history dating back to 2004 when it was formed through the merger of IMC Global and Cargill's crop nutrition division. The Mosaic Company has a diverse range of products, including coated granular fertilizers. The company has witnessed steady market growth over the years, driven by its strong distribution network, innovative product offerings, and focus on sustainable agriculture. In 2020, the company's net sales revenue was $7.4 billion.
ICL Specialty Fertilizers is another major player in the coated granular fertilizers market. It is a division of the Israel Chemicals Limited group and offers a wide range of specialty fertilizers for various crops and applications. ICL Specialty Fertilizers acquired Everris BV (formerly known as Scotts Miracle-Gro's professional business) in 2011, further strengthening its position in the market. The company has been experiencing significant market growth in recent years, driven by its emphasis on research and development and sustainable product offerings.
COMPO Expert GmbH is a German-based company that specializes in the development and production of specialty fertilizers. It offers a wide portfolio of coated granular fertilizers designed for specific crops and growth stages. The company has a strong presence in Europe and has been expanding its global footprint in recent years. COMPO Expert GmbH has achieved steady market growth, fueled by its commitment to innovation, customer-centric approach, and strategic partnerships. Unfortunately, specific sales revenue figures for this company are not publicly available.
In conclusion, the coated granular fertilizers market is highly competitive, with key players such as The Mosaic Company, ICL Specialty Fertilizers, and COMPO Expert GmbH dominating the market. These companies have a strong market presence, a history of market growth, and a commitment to innovation. It is worth noting that the specific sales revenue for each company mentioned cannot be provided due to limitations in publicly available information.
What Are The Key Opportunities For Coated Granular Fertilizers Manufacturers?
The coated granular fertilizers market has been experiencing substantial growth in recent years and is expected to continue this trend in the future. Coated granular fertilizers offer numerous benefits such as controlled nutrient release, enhanced plant nutrition, and reduced fertilizer loss. These factors are driving the market's growth. Additionally, the rising demand for high-quality crops and increased adoption of precision agriculture techniques are also contributing to market expansion. The market is witnessing the introduction of advanced coating technologies and innovative products to cater to the evolving needs of farmers. Overall, the coated granular fertilizers market holds promising prospects for the future.
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Market Segmentation
The Coated Granular Fertilizers Market Analysis by types is segmented into: