Global Nanofertilizers Market: Introduction
- Nanofertilizers are fertilizers that help in improving the nutritional value of an agricultural product. Nanofertilizers are more beneficial than chemical fertilizers, as they are low-priced and are required in less 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 larger surface area owing to presence of nanoparticles of very small size in nanofertilizer formulations. Large surface area of nanofertilizers helps in improving the metabolism inside the plant system and improves the overall crop yield.
- Nanofertilizers are sprayed in several ways either to soil or through leaves and they are employed in order to supply three major components i.e. nitrogen, phosphorous, and potassium in equal ratios
- Use of nanofertilizers can curtail the use of chemical fertilizers by 80–100 times, thereby reducing unnecessary imports of chemical fertilizers by a country
- Various types of nanofertilizers include nanoaptamers, nanoporous zeolite, zinc nanofertilizers, carbon nanotubes, nanoherbicides, and boron nanofertilizers
- Use of nanofertilizers reduces risks such as atmospheric and ground water pollution, soil acidification, eutrophication, decline in the level of soil fertility, and loss of biodiversity
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Rising Demand for Increased Crop Productivity from Agriculture Sector
- Demand for nanofertilizers for use in the production of agricultural products to obtain high crop yield is likely to rise in the next few years. Compared to other fertilizer technologies such as chemicals or biofertilizers, nanofertilizers help in supplying nutrients in a more effective manner.
- Reported cases of improper use of chemical fertilizers and their impact on the agro ecosystem are likely to reduce the consumption of chemical fertilizers and make farmers opt for nanofertilizers in the near future
- Compared to chemical fertilizers or biofertilizers, nanofertilizers offer controlled release of active ingredients into the soil, which, in turn, improves the crop yield. Thus, the global nanofertilizers market is anticipated to witness attractive opportunities in the next few years.
North America to Lead Global Nanofertilizers Market
- In terms of region, the global nanofertilizers market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America accounts for a significant share of the global nanofertilizers market with the rising demand from the agriculture sector in the region
- In North America, demand for high crop yield is on the rise. The U.S. farming industry contributes more than US$ 100 Bn to the U.S. economy.
- The U.S. Department of Agriculture is planning to build agriculture innovation centers that would provide technical assistance to farmers for producing value-added agricultural products. Nanofertilizers would be playing a key role in this program.
- Also, in September 2019, the U.S. Department of Agriculture (the U.S. DoA) announced to fund US$ 72.4 Mn to the Specialty Crop Block Grant Program for improving the yield of fruits, vegetables, treenuts, and nursery crops. This, in turn, is anticipated to fuel the demand for nanofertilizers in the next few years.
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Key Players Operating in Global Market
The global nanofertilizers market is highly consolidated in nature, with major player holding a major share of the market. The global market is still undergoing the nascent stage of development. Need for sophisticated infrastructure and skilled workforce are key concerns of manufacturers of nanofertilizers.
Key players operating in the global nanofertilizers market include:
- AG CHEMI Group, s.r.o.
- Indian Farmers Fertiliser Cooperative Limited
Global Nanofertilizers Market: Research Scope
Global Nanofertilizers Market, by Product
- Nanoporous Zeolite
- Zinc Nanofertilizers
- Carbon Nanotubes
- Boron Nanofertilizers
Global Nanofertilizers Market, by Method of Application
- Spray or Foliar Application
- Soaking Method
- Soil Application
Global Nanofertilizers Market, by Application
- Cereals & Grains
- Oil seeds & Pulses
- Fruits & Vegetables
- Others (Including Turfs and Ornamental Plants)
Global Nanofertilizers Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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