The Latin America Controlled Release Fertilizers Market was worth USD 401.24 million in 2021 and estimated to be growing at a CAGR of 6.32%, to reach USD 521.46 million by 2026. Controlled release fertilizers are mainly used due to their advantages of using them as fertilizers include decreasing the use of resources, reduction in labor cost and environment friendly nature when matched with conventional fertilizers. They are also very effective and have the easiness of application.
The reducing arable land owed to fast development and increasing usage of land for reasons other than agriculture has elevated a perturbing question about decrease in the agricultural yield. It has become progressively difficult to keep up with rising demand for food and overpopulation. In an attempt to resolve these problems, farmers have augmented their uptake of controlled release fertilizers, which promise a rise in the productivity. High manufacturing cost of these fertilizers is hindering the growth of the controlled release fertilizers market.
Latin America Controlled Release Fertilizers Market – By Type:
Chemical Condensation Products
Latin America Controlled Release Fertilizers Market – By Application:
Crop based controlled release fertilizers segment is expected to increase at highest rate due to increase in demand for crops because of increase in population.
Geographically the Latin America market is segmented into
Mexico being the dominating country in the Latin America region for controlled release fertilizers market is expected to continue its dominance over the forecast period.
The market for controlled release fertilizers is described with strong competition with the large number of big and small players. The Chisso Corporation, Shandong Shikefeng Chemical Industry Co. Ltd., Kingenta Ecological Engineering Group Co. Ltd., Scotts Miracle-Gro Company, Agrium, Yara International, Israel Chemicals Ltd. (Israel), Compo GmbH Co., Sociedad Quimica Y Minera S.A. and Haifa Chemicals Limited are some of the big players in controlled release fertilizer industry.
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