Nano Fertilizers Market Size (2024 – 2030)

The global nano fertilizers market, valued at USD 408.8 million in 2023, is projected to reach USD 1212.6 million by 2030, experiencing a robust CAGR of 16.8% from 2024 to 2030. Factors propelling this growth include escalating food demand due to population expansion and increased recognition of the advantages associated with nano fertilizers.

Nano fertilizers, designed to enhance the nutritional value of agricultural products, present a more favorable alternative to chemical fertilizers, characterized by lower costs and reduced application volumes. Progress in nanotechnology has facilitated the large-scale production of nanoparticles integral to nano fertilizer formulations.

Distinguished by the presence of nanoparticles with minute dimensions, nano fertilizers offer a heightened surface area. This attribute fosters improved metabolic processes within plant systems, consequently augmenting overall crop yields.

Application methods for nano fertilizers vary, including soil incorporation and foliar spraying, with the objective of supplying three key nutrients—nitrogen, phosphorus, and potassium—in balanced proportions.

The adoption of nano fertilizers holds the potential to substantially diminish reliance on chemical fertilizers by up to 80–100 times, thereby mitigating the need for extensive fertilizer imports. Nano Urea, in particular, is gaining traction globally for its ability to replace conventional urea while concurrently reducing input costs and enhancing crop yields. Expectedly, Nano Urea is anticipated to supplant approximately 13.7 million liters of traditional urea consumption in the coming years, with trials for nano versions of DAP fertilizers already underway.

The onset of the COVID-19 pandemic in 2020 disrupted the nano urea market worldwide, as various sectors grappled with the ramifications of nationwide lockdowns. Despite these challenges, demand from the agricultural sector remained resilient during the pandemic period, paving the way for market resurgence post-crisis.

Market Drivers

The drive to replace conventional urea remains a primary growth catalyst for the market. Nano Urea, developed as a liquid fertilizer, offers a groundbreaking solution to mitigate the excessive usage of traditional urea. Developed through proprietary patented technology at the Nano Biotechnology Research Centre (NBRC) in Kalol, Gujarat, Nano Urea serves as a nitrogen source critical for optimal plant growth and development. Its foliar application effectively fulfills nitrogen requirements during critical growth stages, resulting in enhanced crop yields and quality compared to conventional urea.

The imperative for increased crop production to meet burgeoning population demands fuels market growth.

The escalating global demand for food necessitates advancements in agricultural productivity enhancement strategies. Nano products, including fertilizers and pesticides, aim to reduce chemical usage, minimize nutrient losses, and optimize yields. Consequently, nanotechnology interventions in agriculture garner significant attention as a means to achieve superior crop productivity amidst resource constraints.

Market Restraints

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

Substandard product quality acts as a deterrent to market expansion. Instances of inferior product quality hamper market growth, as inadequacies in delivered products impede essential processes such as nitrogen fixation, thereby limiting their efficacy in fertilization. Consequently, the prevalence of poor-quality products constrains market growth potential.

Market Segmentation

Nano Fertilizers Market - By Type:

• Zinc Fertilizers
• Boron Nano
• Nano Aptamers
• Others

Zinc nano fertilizers constitute a distinctive category of fertilizers comprising nanoparticles, which are minute particles enhancing nutrient absorption and promoting plant growth. Formulated with zinc nitrate, these fertilizers facilitate the absorption of nutrients by plants from the soil. While suitable for various plant types, zinc nano fertilizers demonstrate optimal efficacy in processes such as seed germination, cuttings, layering, and root development.

Boron nano fertilizers represent an innovative fertilizer variant containing boric acid and boron nitride. These fertilizers possess the capability to reduce water usage, enhance nutrient assimilation in plants, and improve crop yield. Often referred to as super-borrow or super-duper fertilizer, boron nano fertilizers exhibit exceptional properties that foster accelerated and superior plant growth compared to conventional fertilizers.Nano aptamers, characterized as short synthetic peptides, exhibit high specificity and affinity in binding to particular molecules. Widely employed in drug development, nanoaptamers can be customized to target specific molecules, facilitating the discovery and development of precise remedies for various diseases.

Nano Fertilizers Market - By Application:

• In vitro Application
• In vivo
• Aeroponics
• Others

In terms of application, in-vitro application emerged as the dominant segment in the global nano fertilizers market in 2019, accounting for the highest revenue share. This dominance is attributed to the escalating demand for advanced products characterized by enhanced efficacy and performance. Conversely, in-vivo applications are projected to experience the fastest growth during the forecast period, driven by increasing demand for organic products devoid of adverse effects on human health. Soil application also commands a significant market share, owing to its high product efficacy and cost-effectiveness compared to traditional farming methods.

Nano Fertilizers Market - By Region:

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

North America holds a substantial share in the global nanofertilizers market, driven by the burgeoning demand from the agricultural sector within the region.

In North America, the demand for high crop yields is witnessing an upward trajectory. The agricultural sector in the United States contributes over US$100 billion to the nation's economy.

The U.S. Department of Agriculture plans to establish agriculture innovation centers aimed at providing technical assistance to farmers for the production of value-added agricultural products. Nanofertilizers are poised to play a pivotal role in this initiative.

Furthermore, in September 2019, the U.S. Department of Agriculture allocated US$72.4 million to the Specialty Crop Block Grant Program to enhance the yield of fruits, vegetables, tree nuts, and nursery crops. This initiative is anticipated to drive the demand for nano fertilizers in the coming years.

Nano Fertilizers Market Share by Company:

1. BASF SE
2. Indian Farmer Fertilizer Cooperative Limited
3. Yara International ASA
4. Hindustan Insecticide Limited
5. Fertilizers and Chemical Travancore Ltd.
6. CF Industries Holdings Inc.
7. China National Petroleum Corporation
8. Jiangsu Same Group Co, Ltd.
9. EuroChem
10. Koch Fertilizer LLC
11. Nutrien Ltd.
12. OCI Nitrogen
13. Petrobras
14. Qatar Fertiliser Company
15. SABIC
16. Notore Chemical Industries Plc

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The market witnesses a burgeoning demand for urea-based products, prompting companies to intensify their market presence.

NOTABLE DEVELOPMENTS IN THE GLOBAL NANO FERTILIZERS MARKET:

• Product Expansion - In June 2022, Nutrien (TSX: NTR) announced plans to augment its fertilizer production capacity in response to structural shifts in global energy, agriculture, and fertilizer markets.
• Collaboration - In 2022, The CP Group and Charoen Pokphand Foods Public Company Limited (CP Foods) initiated a collaborative mangrove reforestation project in Trat province, encompassing an area of 1,300 rai. Under the CPF Grow-Share-Protect Mangrove Forestation Project, the initiative aims to promote biodiversity, safeguard wildlife and marine ecosystems, stimulate local economies, and enhance the quality of life for communities residing in the vicinity of mangrove areas.