Nano Fertilizers Market Size (2022 – 2030)

The global nano fertilizers market size was USD 35o million in 2022 and is estimated to grow to USD 1212.6 million by 2030. This market is witnessing a healthy CAGR of 16.8% from 2023 - 2030. Increasing demand for food owing to population growth and rising awareness about the benefits of using nano fertilizers are majorly driving the growth of the industry.

Nanofertilizers are fertilizers that help in improving the dietary fee of an agricultural product. Nanofertilizers are extra advisable than chemical fertilizers, as they are lower priced and are required in fewer quantities. Advancements in nanotechnology have paved the way for large-scale production of nanoparticles that are used in the manufacture of nanofertilizer formulations

Nanofertilizers have a larger surface area owing to the presence of nanoparticles of very small dimensions in nanofertilizer formulations. The large floor vicinity of nanofertilizers helps in enhancing the metabolism inner the plant machine and improves the overall crop yield.

Nano fertilizers are sprayed in quite a few ways either to soil or thru leaves and they are employed in order to grant three predominant components i.e. nitrogen, phosphorous, and potassium in equal ratios.

The use of nanofertilizers can curtail the use of chemical fertilizers by using 80–100 times, thereby reducing unnecessary imports of chemical fertilizers by using a country. The demand for Nano Urea is appreciably growing around the globe as it has the functionality to substitute the traditional Urea while providing a reduction in input cost, higher crop yield, and better charge because of the better-Quality crop. Nano Urea is predicted to substitute 13.7 million liters of conventional urea utilization over the subsequent few years as IFFCO has also started out the trials of nano version of DAP fertilizers. It also has a number of benefits as it has a great impact on in phrases of relative logistics and warehousing costs, and farmers can easily elevate bottles of Nano Urea physically instead than bulky Urea bags. Nano Urea is a promising and sustainable answer to traditional bulk Nitrogenous fertilizers like Urea.

COVID-19 impact on Nano Fertilizers Market

In 2020, due to the surprising unfolding of COVID-19, the Nano Urea market witnessed a negative impact around the globe. Several businesses, industries, and different services were notably affected around the globe due to the nationwide lockdowns imposed with the aid of the authorities. However, amidst the looming concern, demand from the downstream agriculture zone remained stagnant throughout the covid times. The market growth post-pandemic observed an upward trajectory due to the extended demand from the downstream industries.

MARKET DRIVERS

The capacity to replace regular urea is driving the growth of the market

Nano Urea is a liquid fertilizer, the first of its kind that minimizes the excessive use of traditional Urea. It was indigenously developed at Nano Biotechnology Research Centre (NBRC) at Kalol, Gujarat, through proprietary patented technology. Nano Urea (liquid) is a source of nitrogen, which is the main nutrient vital for the suited growth and development of the plant. Nitrogen is the foremost constituent of amino acids, photosynthetic pigments, enzymes, and power switch compounds in a plant. Nitrogen content in a healthful plant normally varies in the vary of 1.5 to 4%. Foliar feeding of Nano Urea efficaciously fulfills its Nitrogen requirement at critical crop boom degrees of a plant and leads to greater crop yield and pleasantness as compared to conventional Urea.

The need for more Crops Production for the Increasing population is driving the growth of the market

Increased populace demand for meals is increasing. This is one of the most important motives for the need for agricultural productivity improvement techniques. Nano-products such as nano fertilizers and nano-pesticides in agriculture are focused on decreasing chemical propagation, limiting nutritional losses in fertilizer, and improving yields through pesticide management and nutrient management. Therefore nanotechnology can be improved with new nanotools in agriculture. The increasing want for the finest crop manufacturing with scarce money gives it magnificent recognition amongst farmers.

MARKET RESTRAINTS

Poor quality of the products is restraining the growth of the market

The poor quality of the products is restraining the growth of the market. There are certain cases in which the [roducts which is delivered is not up to the mark and the product which is required for fertilization is unable to meet the nitrogen fixation process. Thus it restrains the growth of the market

NANO FERTILIZERS  MARKET REPORT COVERAGE:

Market Segmentation

Nano Fertilizers Market - By Type:

• Zinc Fertilizers
• Boron Nano
• Nano Aptamers
• Others

Zinc nano fertilizers are a one-of-a-kind type of fertilizer made up of nanoparticles. These are very small particles that raise vitamins and assist in plant growth. It has zinc nitrate as an ingredient that helps in the absorption of vitamins from the soil and plants. Zinc nano fertilizers can be used for all types of plants, but it has been located to be the most high quality for seed germination, cuttings, layering, root development, etc.

Boron nano fertilizers are a new kind of fertilizer made up of boric acid and boron nitride. It has the capability to reduce water consumption, enlarge nutrient uptake through plants, and beautify crop yield. Boron nano fertilizers are also known as super-borrow or super-duper fertilizer due to the fact it has many exceptional residences that make plants increase faster & improved than everyday fertilizers.

Nano aptamers are short, synthetic peptides that can bind to particular molecules with excessive specificity and affinity. They are often used in drug improvement because they can be custom-made to bind to a precise target molecule, which makes it less difficult to find and advance fine redress for diseases.

Nano Fertilizers Market - By Application:

• In vitro Application
• In vivo
• Aeroponics
• Others

Based on application, In-vitro application dominated the world nano fertilizers market in phrases of income share in 2019. This is attributed to increasing demand for advanced products with stronger efficiency and performance. In-vivo functions are expected to witness the quickest boom over the forecast period owing to rising demand for organic merchandise that has no facet results on human health. The different essential application consists of soil application, which accounted for an extensive market share as compared to different functions in 2019 owing to excessive product efficacy and low fee in contrast to traditional strategies of farming.

Nano Fertilizers Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East
• Africa

North America's debts for a substantial share of the global nanofertilizers market with the rising demand from the agriculture area in the region.

In North America, demand for high crop yields is on the rise. The U.S. farming enterprise contributes more than US$ a hundred Bn to the U.S. economy.

The U.S. Department of Agriculture is planning to build agriculture innovation centers that would provide technical help to farmers in producing value-added agricultural products. Nanofertilizers would be taking part in a key function in this program.

Also, in September 2019, the U.S. Department of Agriculture (the U.S. DoA) introduced to fund US$ 72.4 Mn to the Specialty Crop Block Grant Program for enhancing the yield of fruits, vegetables, treenuts, and nursery crops. This, in turn, is expected to gas the demand for nano fertilizers in the next few years.

Nano Fertilizers Market Share by company

• BASF SE
• Indian Farmer Fertilizer Cooperative Limited
• Yara International ASA
• Hindustan Insecticide Limited
• Fertilizers and Chemical Travancore Ltd.
• CF Industries Holdings Inc.
• China National Petroleum Corporation
• Jiangsu same Group Co, Ltd.
• EuroChem
• Koch Fertilizer LLC
• Nutrien Ltd.
• OCI Nitrogen
• Petrobras
• Qatar Fertiliser Company
• SABIC
• Notore Chemical Industries Plc

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There is multiple demand for the products regarding urea and the companies are doing their best to be in the market

NOTABLE HAPPENINGS IN THE GLOBAL NANO FERTILIZERS MARKET IN THE RECENT PAST:

• Product Expansion - In June 2022, Nutrien (TSX: NTR) announced today its plans to increase fertilizer production capability in response to structural changes in global energy, agriculture, and fertilizer markets.
• Collaboration - In 2022, The CP Group and Charoen Pokphand Foods Public Company Limited (CP Foods) jointly kicked off a mangrove reforestation collaboration in Trat province, covering the area of 1,300 rai, under CPF Grow-Share-Protect Mangrove Forestation Project. The aims are to: promote biodiversity, protect wildlife and marine life in the area, drive the local economy, and, subsequently, improve the quality of life for the communities surrounding the mangrove areas.