The Global Green Fertilizer Market Size is valued at 2.10 billion in 2023 and is predicted to reach 3.25 billion by the year 2031 at an 5.80% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The increasing number of people and cutting-edge technology has led to market growth.
- Nitrate-based fertilizers are in high demand because they work well in various climates and soil types. The high nitrogen content and low price contribute to its attractiveness, fueling the demand for green fertilizers and propelling the market forward.
- North America dominated the market and accounted for a global revenue share in 2023.
- The market for green fertilizers is expected to be hindered by the high manufacturing costs of environmentally friendly fertilizers and the availability of cheaper synthetic fertilizers.
Green fertilizers are safer for humans, animals, and any other organisms that come into contact with them since they decompose rapidly and have no harmful impact on the surface or groundwater. These fertilizers have a lengthy shelf life, enhance soil, and increase soil's ability to retain nutrients and water. They are preferred for creating agricultural output free of residues since they are non-toxic, slow-releasing fertilizers that do not leave any residues in the food. As a result, factors including the growing need to boost agricultural output and knowledge of green fertilizer's advantages over chemical inputs also contribute to the market's rapid expansion. Growing organic farms, global acreage, and consumer demand for organic food due to its multiple health and fitness benefits are the main factors driving the market.
Additionally, the overall market for these materials' suppliers is growing as a result of increased accessibility to animal and vegetable waste as well as advancements in the method used to produce green fertilizer. The market is further gaining momentum due to various factors including an increase in the area used for organic farming, improvements in the production of green fertilizer, a larger pool of potential customers, and rising demand from the organic food business.
On the other side, the market demand is struggling to reach its full potential due to high costs and continuous reliance on inorganic cultivation methods.
Recent Developments:
- In Jan 2022, Hive Hydrogen will open South Africa's first green ammonia plant, ushering in a new era of hydrogen development that will position the country as a net hydrogen exporter. BuiltAfrica and Hive Energy from the United Kingdom are the primary development partners. Companies joined together to establish Hive Hydrogen South Africa - the development firm.
Competitive Landscape:
Some of the major green fertilizer market players are:
- Yara International ASA
- Siemens Energy
- Origin Energy Limited
- Iberdrola, S.A.
- HY2GEN AG
- Hive Energy
- Haldor Topsor A/S
- H2U Technologies, Inc.
- Fusion-Fuel
- Fertiglobe
- Eneus Energy Limited
- Enaex Energy
- Dyno Nobel
- CF Industries Holdings, Inc.
- Ballance Agri-Nutrients
- Aker Clean Hydrogen
- Air Products Inc.
- ACME Group
Market Segmentation:
The green fertilizer market is segmented based on technology and fertilizers. The market is segmented on technology such as alkaline water electrolysis, proton exchange membrane and solid oxide electrolysis. By fertilizers, the market is segmented into Ammonium nitrate (AN) and Calcium ammonium nitrate (CAN).
Based On The Technology, The Alkaline Water Electrolysis Segment Is A Major Contributor To The Green Fertilizer Market
The alkaline water electrolysis category will hold a major share of the global green fertilizer market in 2024. A process known as alkaline water electrolysis uses two poles and a liquid alkaline solution of potassium or sodium hydroxide. It is increasingly used in creating green ammonia due to the reduced cost of catalysis and improved gas purity. Alkaline water electrolysis provides improved durability due to an interchangeable electrolyte and less corrosion potential catalyst dissolution, predicted to fuel industry expansion. Comparing the total energy cost and energy requirements for the ammonia electrolytic and water electrolyzers at various hydrogen production rates reveals that the water electrolyzer requires up to 65% more energy and power overall than the ammonia electrolytic cell.
The Ammonium Nitrate Segment Witnessed Growth At A Rapid Rate
The ammonium nitrate segment is projected to grow rapidly in the global green fertilizer industry. As plants take ammonium (NH4 +) directly at modest rates, the demand for ammonium nitrate fertilizer will increase. The positively charged ion binds to plant nutrients and is less mobile than nitrate (NO3). As a result, plant roots must point toward nitrogen. The majority of the ammonium is converted to nitrate by soil bacteria. Temperature influences the nitrification process, which might take one to several weeks. Soil bacteria adsorb an additional portion of the ammonia and grade released it, increasing the amount of organic matter in the soil., especially in countries such as the US, Germany, the UK, China, and India.
In North America, The Green Fertilizer Market Holds A Significant Regional Revenue Share
The North American green fertilizer market is expected to register the highest market share in revenue soon. The demand for organic food increases along with per capita income, which fuels this region's organic fertilizer industry. Additionally, improvements in telecommunication technology have made it possible for customers to learn more about growth and wellness dynamics, strengthening this industry globally and in developing countries. In addition, Europe is projected to grow rapidly in the global market for Green Fertilizer. The expansion of the industry in the area has been aided by rising public and private investments, the incorporation of technology into farming operations, and government policies and programs to increase agricultural income.
Green Fertilizer Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 2.10 Bn |
|
Revenue forecast in 2031 |
USD 3.25 Bn |
|
Growth rate CAGR |
CAGR of 5.80% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, Volume (Tons) 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 statistics, growth prospects, and trends |
|
Segments covered |
Technology And Fertilizers |
|
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; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Yara International ASA, Siemens Energy, Origin Energy Limited, Iberdrola, S.A., HY2GEN AG, Hive Energy,, Haldor Topsor A/S, H2U Technologies, Inc., Fusion-Fuel, Fertiglobe, Eneus Energy Limited, Enaex Energy, Dyno Nobel, CF Industries Holdings, Inc., Ballance Agri-Nutrients, Aker, Clean Hydrogen, Air Products Inc.and ACME Group. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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