Polymer Coated NPK Market Size

Polymer Coated NPK Fertilizers Market Analysis

The Polymer Coated NPK Market size is estimated at USD 1.22 billion in 2024, and is expected to reach USD 1.61 billion by 2029, growing at a CAGR of 5.74% during the forecast period (2024-2029).

• The demand for polymer-coated NPK fertilizer is expected to increase as immense pressure lies on the declining pulse area that needs efficient NPK fertilizers for consistent nutrients throughout the growth phase. Moreover, the demand for this variety has emerged from the strawberry, citrus fruits, and vegetable growers, as the fertilizer has longevity of six to nine months and requires just one application, thus, proving effective in minimizing long-run costs.
• The increasing demand for food and crops and the reduced per capita share of fertile land globally will increase the demand for various polymer-coated fertilizers in upcoming years. The growing population is anticipated to increase demand for nitrogen fertilizers to enhance the yield of crops and ensure food security. The existing challenges, such as low nutrient and moisture present in the soils and the growing environmental concerns, are paving the way for biodegradable polymer-coated fertilizers, and they are emerging as a potential solution to synchronize nutrient release as per the requirement of plants.
• Growing application of biodegradable polymer-coated fertilizer on turf grass, soil quality, and environmental concerns, and growing research studies on the effectiveness of biodegradable fertilizers are the prime drivers of the polymer-coated fertilizer market. While some market restraints are the existing high demand for conventional fertilizers and the low shelf life of polymer-coated fertilizers.
• According to 'International Fertilizer Industry Association,' over 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 demand for polymer-coated fertilizer in North America will increase as immense pressure lies on the declining pulse area that needs efficient NPK fertilizers for consistent nutrients throughout the growth phase. Moreover, the demand for this variety has emerged from the strawberry, citrus fruits, and vegetable growers, as the fertilizer has a longevity of six to nine months and requires just one application, thus, proving effective in minimizing long-run costs.