Market Trends of Polymer Coated Urea Industry
This section covers the major market trends shaping the Polymer Coated Urea Market according to our research experts:
North America Dominates the Market
According to USDA-NASS, 2019, despite the weather conditions being unfavorable (wet spring followed by cool June), the American corn farmers increased the area harvested under maize to 91.7 million in 2019, which was up by 3% from the previous year. This was owing to the increased adoption rate of cutting-edge fertilizers like poly-coated fertilizers, which are even biodegradable. The demand for cotton is on the rise in North America, as cotton is one of the major commercial crops, where fertilization plays a vital role in improving the quality of fiber. In accordance with 4R nutrient stewardship, which includes the right fertilizer source, at the right time, right place, and with right rate, poly-coated fertilizers have been noted to enhance nutrient-use efficiency in cotton. Further in 2019, Agriculture and Agri-Food Canada (AAFC) stated that wheat and canola production in the country is on the rise. This increase in the production of the majorly grown crops is further expected to the market for polymer-coated urea fertilizers in the country.
Europe is the Fastest-growing Market for Polymer-coated Urea Fertilizers
According to a research conducted in Finland in 2018, controlled release or slow-release fertilizers ensure nitrogen availability for the entire crop cycle. It was also noticed that due to low grain protein content, wheat lots were not suitable for milling in the region. This can be overcome by the application of biodegradable polymer-coated urea fertilizers. According to a research article published by PLOS UK in 2015, the use of controlled-release fertilizers has reduced ammonia volatilization by 51.3% in the country, and also enhanced the photosynthetic rate of maize. This is likely to boost the use of controlled-release fertilizers, including biodegradable polymer-coated urea fertilizers in the future. Furthermore, apple production is highly labor-intensive with operations involving growing (also includes fertilizer application to soil), pruning, and harvesting. There is a shortage of farm labor in the Western Europe region and labor costs are high. Hence, there is a need to replace conventional fertilizers with biodegradable polymer-coated urea fertilizers owing to fewer labor requirements due to reduced fertilizer application cycles.
