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The Global Agricultural Nanotechnology Market Size is valued at USD 352.4 billion in 2023 and is predicted to reach USD 868.98 billion by the year 2031 at a 12.19% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the report:
- The agricultural nanotechnology market is segmented into crop protection, soil improvement, water purification, diagnostic, plant breeding, and nanoparticles production.
- The Development of new nanotech-based tools and equipment help increase efficiency and overcome challenges faced by the agricultural industry.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- Nanotechnology in agriculture is the application of minimal tools such as sensors, which can be used for agricultural development. Nanotechnology is a new revolution in industries and has the potential to bring about drastic changes in the agricultural industry.
An essential advancement for agriculture is nanotechnology, which involves construction, mathematics, and technology applied at the nanoscale (1-1000). Numerous problems and difficulties affect agriculture today, including population expansion, environmental degradation, and the restricted supply of plant nutrients like phosphorous and potassium. The development of the global market for agricultural nanotechnology will also be fueled by the merger of improved agricultural techniques with nanotechnologies during the next five years.
Additionally, the benefits of agricultural nanotechnology lower threats, including air and ground pollution, soil acidification, eutrophication, declining soil fertility, and biodiversity loss. The expansion of the global market for agricultural nanotechnology over the next five years will be aided by the growing world population. In the upcoming five years, rising demand for crops with higher yields will further support the expansion of the worldwide agricultural nanotechnology industry.
The market's growth will be significantly constrained by the high cost of agricultural equipment made with cutting-edge nanotechnology. Variations in the price of raw materials would further slow the market's expansion rate. The fierce competition between vendors for customers would once more restrain the market's growth.
Competitive Landscape:
Some of the major key players in the Agricultural Nanotechnology market are:
- AGNPCLEAN
- Aqua-Yield
- ASML Holding
- CHASM
- Chemat Technology Inc.
- Hyperion Catalysis International
- Nanoco Group Plc
- NanoMarterials Technology.
- Nanomnia srl
- NanoScale Corporation
- Nanoshell LLC
- NanoSpy
- Nanosys Inc.
- Oxford Instruments
- Strigiformes
- ThalesNano Inc.
- Xinglu Chemical
- Zyvex Labs
- Other Prominent Players
Market Segmentation:
The agricultural nanotechnology market is segmented by type, application, and end users. Based on type, the market is segmented as nano herbicides, nano fertilizers, nano pesticides, nano biosensors, nanomaterials, and others. By application, the market is segmented into crop production & protection, water purification, recycling agriculture waste, soil improvement, plant breeding, and diagnostic. By end users, the market is segmented as farmers, R&D institutes, government organizations and others.
Based on type, the nano fertilizers segment is a major contributor to the agricultural nanotechnology market.
The nano fertilizers category will hold a major share of the global agricultural nanotechnology market in 2021. The global market will grow due to the fast-increasing worldwide population and the need to feed everyone. Nano fertilizers have advantages in nutrition management because of their exceptional ability to increase nutrient consumption efficiency. As opposed to conventional fertilizers, nutrients applied singly or in combination are bonded to nano-dimensional adsorbents, which allow for a very progressive release of nutrients. This approach increases the efficiency of fertilizer use while reducing fertilizer loss into groundwater. Additionally, nano fertilizers can boost a plant's tolerance to abiotic stress. These so-called nano biofertilizers, which are nano fertilizers mixed with microbes, also have some other benefits.
The Soil improvement segment witnessed growth at a rapid rate.
The soil improvement segment is projected to grow rapidly in the global agricultural nanotechnology market, due to its capacity to transport nutrients in the soil, allowing for easier absorption and root development. Additionally, ongoing research into novel approaches has resulted in the creation of novel nanomaterials, providing a potent tool for the creation of new electronic goods that are effectively supplied through the soil coating process and going to support the expansion of the sub-segment and propelling the growth of the global market, especially in countries such as the US, Germany, the UK, China, and India.
In North America, the agricultural nanotechnology market holds a significant revenue share.
The North American agricultural nanotechnology market is expected to register the highest market share in revenue soon. Due to improvements in agriculture in countries like the United States and Canada. Additionally, research and technological development in the field are advancing quickly, enabling the future expansion of the global market during the following five years. In addition, Asia Pacific is projected to grow rapidly in the global agricultural nanotechnology market. Due to their dependence on agriculture, countries like China and India are anticipated to experience the fastest growth in the Asia Pacific region during the next five years. Market growth is projected to be driven by the expanding use of nanotechnology in agriculture. The development of the market is also greatly aided by market participants. New market players may join forces with established industry behemoths to develop novel products and build brand value.
Recent Developments:
- In June 2022-Nutrien announced plans to increase fertilizer production capacities in response to structural changes in the global energy, agriculture, and fertilizer industries in 2022-The CPF Grow-Share-Protect Mangrove Forestation Project will be introduced by The CP Group and Charoen Pokphand Foods Public Company Limited. It will cover a 1,300-rai area in Trat province. The objectives are to boost local economies, improve biodiversity, preserve animal and marine life, and improve living standards for those close to mangrove areas.
Agricultural Nanotechnology Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 352.4 billion |
|
Revenue forecast in 2031 |
USD 868.98 billion |
|
Growth rate CAGR |
CAGR of 12.19% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Type, Application, And End Users |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Nanosys Inc., ASML Holding, Oxford Instruments, Nanoco Group Plc, ThalesNano Inc., Zyvex Labs, Hyperion Catalysis International, CHASM, Chemat Technology Inc., NanoMarterials Technology, NanoScale Corporation, Nanomnia srl, Aqua-Yield, Strigiformes, NanoSpy, Nanoshell LLC, AGNPCLEAN, Xinglu Chemical |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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