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
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