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The Global Nano Fertilizer Market Size is valued at USD 3.43 billion in 2023 and is predicted to reach USD 10.05 billion by the year 2031 at an 14.49% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The increasing number of people and cutting-edge nanotechnology has led to market growth.
- Environmental efforts are meeting the increasing need for food in the region, fueling the demand for nano fertilizers, which are the primary factors propelling the market forward.
- North America dominated the market and accounted for a global revenue share in 2023.
- The market for nano fertilizer is expected to be hindered by expensive manufacturing costs.
Nano fertilizers aid in enhancing an agricultural manufacturer's nutritional benefit. Due to their affordability and lower usage requirements, nano fertilizers are more advantageous than chemical fertilizers. Farmers may use nano fertilizers instead of chemical fertilizers due to reported incorrect usage of chemical fertilizers and their effects on the agroecosystem.
The urge to switch from chemical fertilizers to nano fertilizers is helping the market for nano fertilizers to grow, as projected in the upcoming years. The agricultural sector is among the most important industries that must run smoothly and properly. There is a growing demand for fertilizers as environmental toxicity rises. The innovative development of nanotechnology has paved the way for the large-scale synthesis of the nanoparticles used to create nano-fertilizers. Furthermore, the expansion of the global market for nano fertilizers over the next five years would 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 nano fertilizers industry.
Additionally, ongoing research into novel approaches has resulted in the creation of novel nanomaterials, providing a potent tool for creating new technology products that are effectively supplied via soil application method and supporting the sub-growth segment as well as the expansion of the global market.
Recent Developments:
- In Feb 2022, EuroChem Group AG entered into exclusive discussions to buy the nitrogen business of the Borealis group. Borealis is also a melamine market leader, with plants in Austria and Germany supplying the critical raw ingredient principally to the woodworking sector. Melamine and technical nitrogen solutions are significant new business streams for EuroChem as it seeks to extend its nitrogen-based product range throughout Europe.
Competitive Landscape:
Some major key players in the Nano Fertilizer market are:
- Indian Farmers Fertilizer Cooperative Limited
- Lazuriton Nano Biotechnology Co., Ltd.
- Fanavar Nano-Pazhoohesh Markazi Company
- Tropical Agrosystem India (P) Ltd.
- EuroChem
- Shan Maw Myae Trading Co., Ltd
- Geolife Group
- AG CHEMI Group, s.r.o.
- JU Agri Sciences Pvt. Ltd.
- Nano Solutions
Market Segmentation:
The nano fertilizer market is segmented on the raw materials, methods of applications and application. Based on raw materials, the market is segmented into nitrogen, silver, carbon, zinc and others. Based on the methods of applications, the nano fertilizer market is segmented into a spray or foliar and soil. Based on applications, the nano fertilizer market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables and others.
Based On Application, The Oilseeds & Pulses Segment Is A Major Contributor To The Nano Fertilizer Market
The market's leading segment is oilseeds & pulses. This is due to their stable molecular arrangement, low toxicity, and uniform dispersion, which makes them great fertilizer carriers. In addition, they are also used as light converters for supplementing the photosynthesis of plants. All these factors contribute to increased demand for carbon-based nanomaterials. Among the carbon-based nanomaterials, carbon tubes witnessed more traction in the agricultural sector. The carbon tubes embed the ability to nano transport cross plant cell walls, impact plant growth regulation, and act as a medium for biosensors. Thus, they can act as both plant growth boosters and slow-release fertilizers.
The Carbon Segment Witnessed Growth At A Rapid Rate
Carbon grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the anticipated time. This is due to their stable molecular arrangement, low toxicity, and uniform dispersion, which makes them great fertilizer carriers. In addition, they are also used as light converters for supplementing the photosynthesis of plants. All these factors contribute to increased demand for carbon-based nanomaterials. Among the carbon-based nanomaterials, carbon tubes witnessed more traction in the agricultural sector. The carbon tubes embed the ability to nano transport cross plant cell walls, impact plant growth regulation, and act as a medium for biosensors. Thus, they can act as both plant growth boosters and slow-release fertilizers.
The North American Nano Fertilizer Market Holds A Significant Regional Revenue Share
The North American nano fertilizer market is expected to register the highest market share in revenue soon. This is because of emerging economies such as India, China, Vietnam, and Indonesia. The rise of India and China as the leading global producers of rice, wheat, cotton, and tea remains a major driver of growth in the region. Furthermore, Indonesia and Vietnam remain among the top 5 producers of coffee beans. This has led to an urgent need in the region to increase productivity. Furthermore, sustainability drives to meet the rising food demand of the region is, in turn, driving the demand for nano fertilizers in the region. In addition, Asia Pacific is projected to grow rapidly in the global nano fertilizer market. This is because of emerging economies such as India, China, Vietnam, and Indonesia. The rise of India and China as the leading global producers of rice, wheat, cotton, and tea remains a major driver of growth in the region. Furthermore, sustainability drives to meet the rising food demand of the region, in turn driving the demand for nano fertilizers.
Global Nano Fertilizer Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 3.43 Bn |
|
Revenue forecast in 2031 |
USD 10.05 Bn |
|
Growth rate CAGR |
CAGR of 14.49% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, Volume in Kilotons 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 |
Raw Materials, Methods Of Applications And Application |
|
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 |
Indian Farmers Fertilizer Cooperative Limited, Lazuriton Nano Biotechnology Co., Ltd., Fanavar Nano-Pazhoohesh Markazi Company, Tropical Agrosystem India (P) Ltd., EuroChem, Shan Maw Myae Trading Co., Ltd, Geolife Group, AG CHEMI Group, s.r.o., JU Agri Sciences Pvt. Ltd., and Nano Solutions |
|
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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