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Nano Fertilizer market 2024
“Nano fertilizers Market have an advantage in nutrition management due to their ability to improve their nutrient utilization efficiency”
Nano Fertilizer Market may be utilized to increase resistance to abiotic stress & when nano fertilizers are combined with microorganisms, these nano bio fertilizers give additional advantages.” - SNS InsiderAUSTIN, TX, UNITED STATES, November 21, 2024 /EINPresswire / -- The Nano Fertilizer Market was valued at USD 3.6 billion in 2023 and is expected to reach USD 12.0 billion by 2032, growing at CAGR of 14.5% over the forecast period of 2024-2032.
This growth is driven by the increasing need for sustainable agricultural practices, the growing demand for high-efficiency fertilizers, and the innovative applications of nanotechnology in improving crop productivity and nutrient absorption.
Market Drivers: The Shift Towards Sustainable Agriculture
There is a growing emphasis on the agricultural sector to increase production and conserve environmental pollution from conventional methods of farming. The availability of nano fertilizers can be a solution to the overuse of fertilizers by improving absorption, reducing losses, and excess use of chemical fertilizers. With the accelerating increase in the world population, the food security question is among the most important problems. The United Nations Food and Agriculture Organization (FAO) states that to feed the growing population, food production must increase by 70% by 2050 This inclination can be tackled by nano fertilizers which as a whole, at a personal level, improve nutrient use efficiency and can provide newer and sustainable options for crop nutrition by greater ability to absorb nutrients.
Moreover, regulatory pressures to manage the negative environmental residue related to conventional fertilizers are driving growers' interest in exploring more sustainable substitutes. Government incentives across the globe have also begun to promote seed nano fertilizers with subsidies and policy applications aimed toward the use of green technologies. For example, the Ministry of Agriculture and Farmers Welfare in India has been advocating for the adoption of nano fertilizers to increase agricultural productivity with less soil deterioration. A sustainable approach is anticipated to remain a fundamental propeller to the growth of the Nano fertilizer market.
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Key Players Listed in Nano Fertilizer Market Are:
.JU Agri Sciences Pvt. Ltd.
.Indian Farmers Fertiliser Co. Ltd.
.Lazuriton Nano Biotechnology Co. Ltd.
.Geolife Group
.Shan Maw Myae Trading Co. Ltd.
.Fanavar Nano-Pazhoohesh Markazi Company
.Tropical Agrosystem India (P) Ltd.
.EuroChem
.AG CHEMI Group r.o. and other
Growth of the Nano Fertilizer Market: Key Segments and Dominant Players
The Nano Fertilizer Market is segmented based on category, raw material, and mode of application, with each segment exhibiting substantial growth potential.
By Category:
The nanoscale fertilizers held the largest market share around 45% in 2023. It is due to their direct application in soil and their superior ability to improve nutrient uptake by plants. Nanoscale coating fertilizers are the fastest-growing segment, as they offer a slow-release mechanism that ensures prolonged nutrient availability to plants, reducing the frequency of fertilization and minimizing nutrient losses.
By Raw Material:
The nano fertilizer market was led by the Nitrogen-based segment in 2023 and it accounted for nearly 50% of the market share. The predominant nature is due to the vital role that nitrogen plays in plant growth and its high application in various crops. One such nano nitrogen fertilizer was unveiled by Yara International in July of 2023 which produced significantly higher corn production in Brazil, with increases of up to 25% over conventional nitrogen fertilizers. Nitrogen is most widely used in nano fertilizers, so it currently holds the top market segment as it has a high potential to enhance plant growth and will ultimately lead to a higher crop yield.
Key Market Segmentation:
By Category
.Nanoscale Fertilizer
.Nanoscale Additive Fertilizer
.Nanoscale Coating Fertilizer
By Raw Material
.Nitrogen
.Carbon
.Zinc
.Silver
.Aluminium
.Others
By Mode of Application
.Spray or Foliar
.Soaking Method
.Soil
By Crop Type
.Cereals & Grains
.Fruits & Vegetables
.Oilseeds & Pulses
.Others
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Regional Analysis: Asia-Pacific and North America Lead the Market
North America held the largest market share around 35% in 2023. It is due to the increasing adoption of innovative agricultural technologies and the growing demand for high-efficiency fertilizers. The United States and Canada are key players in the North American market, with a strong focus on sustainable farming practices and reducing the environmental footprint of traditional fertilizers. Government policies encouraging the use of eco-friendly fertilizers and the increasing interest in precision agriculture are contributing to the market's rapid growth in this region.
Major companies such as AgraQuest and BASF have been introducing new products targeting the North American market. For instance, AgraQuest recently launched a new line of nano-based fertilizers designed to improve crop yield while minimizing environmental impact. As precision farming techniques gain popularity in the region, the demand for nano fertilizers is expected to rise significantly.
The Asia-Pacific region currently holds a significant share in the nano fertilizer industry, driven by countries like China, India, and Japan. The region is a major producer and consumer of fertilizers, and the adoption of nano fertilizers is accelerating due to their potential to improve agricultural productivity and sustainability. India, in particular, is witnessing significant growth in the use of nano fertilizers as the government pushes for more efficient agricultural practices. The Indian government's promotion of nano fertilizers through subsidies and initiatives aimed at improving crop yield is fueling market growth.
Leading companies in this region, such as Nano ChemTech and Indian Farmers Fertiliser Cooperative (IFFCO), have been at the forefront of developing and deploying nano fertilizers. These companies are investing in research and development to enhance the efficiency and affordability of nano fertilizers for local farmers.
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Recent Developments in Nano Fertilizer Market:
.In July 2024 -Nano ChemTech launched a new range of nanoscale coating fertilizers designed to reduce nutrient runoff and enhance the efficiency of nutrient uptake in crops. This innovation aims to support sustainable farming practices and improve overall crop productivity.
.In March 2024 - IFFCO partnered with leading agricultural research institutions in India to conduct studies on the effectiveness of nano fertilizers. This collaboration is expected to drive the adoption of nano fertilizers across India's agricultural sector.
.In January 2024 - BASF announced a new research initiative focused on developing advanced nano fertilizers for North America. The company aims to create cost-effective solutions for large-scale farming while improving nutrient use efficiency and sustainability.
Table of Content
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Nano Fertilizer Market Segmentation, By Category
8. Nano Fertilizer Market Segmentation, By Raw Material
9. Nano Fertilizer Market Segmentation, By Mode of Application
10. Nano Fertilizer Market Segmentation, By Crop Type
11. Regional Analysis
12. Company Profile
13. Use Cases and Best Practices
14. Conclusion
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