Nano Urea Market to Grow with a CAGR of 24.83% through 2028
Surge in research and development activities is
expected to drive the Global Nano Urea Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Nano urea Market
– Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Nano Urea Market stood at USD128.51
million in 2022 and is anticipated to grow with a CAGR of 24.83% in the
forecast period, 2023-2028. The initiatives taken by government based on nano
urea has led to favorable market conditions for the Global Nano Urea Market.
Several factors contribute to the growth of various nano urea products. One of the key initiatives
undertaken by the government is its ambitious goal to replace 25% of urea
imports with locally produced nano urea by 2025. This strategic move is not
only expected to save up to ₹15-20,000 crore annually but also underscores the
government's unwavering commitment to fostering domestic production and
reducing reliance on imported fertilizers.
By encouraging the adoption of nano
fertilizers, including nano urea, the Department of Agriculture, Co-operation,
and Farmers Welfare has been actively promoting sustainable agricultural
practices across the country. Through a laser-like focus on boosting nano urea
production, the government aims to not only enhance agricultural productivity
but also minimize the environmental impact associated with traditional
fertilizers. To further demonstrate the support for nano urea, the government
has included IFFCO Nano Urea in the Fertilizer Control Order (FCO), effectively
making it the only approved nano fertilizer in India. This significant
inclusion reflects the government's recognition of the immense importance and
untapped potential of nano urea in revolutionizing sustainable agricultural
practices in the nation.
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Nano Urea Market”
Nano urea offers numerous advantages over conventional
urea fertilizers. Its unique design and composition are specifically tailored
to enhance the absorption of nutrients by plants, leading to significantly
improved crop yields. In addition to its enhanced nutrient absorption
properties, nano urea is also renowned for its controlled-release
characteristics. This controlled-release mechanism enables better nutrient
management, ensuring that plants receive a steady and optimal supply of
nutrients over an extended period. As a result, farmers can achieve higher
efficiency in fertilizer usage while minimizing environmental impact.
To fully leverage the benefits of nano urea, extensive
research, and development (R&D) efforts have been undertaken by both public
and private entities. These endeavors aim to optimize the production process,
enhance the efficacy of nano urea, and explore innovative applications in
agriculture. Researchers and scientists from around the world are actively
engaged in the pursuit of developing novel formulations and technologies that
can further enhance the performance of nano urea. Various aspects, such as particle
size, composition, and encapsulation techniques, are being meticulously
investigated to maximize nutrient availability and minimize nutrient losses.The
emphasis on R&D in the field of nano urea has not only led to significant
advancements in nanotechnology but has also paved the way for the development
of cutting-edge solutions for sustainable agriculture. By continuously pushing
the boundaries of knowledge and innovation, researchers are striving to
revolutionize the agricultural sector, offering farmers more efficient and
environmentally friendly fertilization options that can contribute to the
long-term sustainability of our food production systems.The Global Nano Urea
Market is segmented into end user, regional distribution, and company.
Based on its end user, the Horticulture Crops segment
held the largest share in the market. Horticulture crops encompass a wide range
of diverse plants, including fruits, vegetables, flowers, and ornamental
plants. These crops are cultivated not only for their visual appeal but also
for their nutritional value and medicinal properties. With the increasing
demand for healthy and nutritious food, as well as the rising popularity of
ornamental plants, the global market for horticulture crops is experiencing
rapid growth.In the realm of fertilizers, nano urea has emerged as a
groundbreaking innovation. Unlike traditional urea fertilizers, nano urea is
composed of urea molecules that have undergone a process of fragmentation into
smaller particles. This transformation enhances the solubility and efficiency
of nano urea, propelling it ahead of its conventional counterparts.
Additionally, nano urea exhibits a reduced likelihood of volatilization,
minimizing the loss of valuable nutrients to the atmosphere. These unique characteristics
make nano urea a promising solution for sustainable and effective crop
nutrition.Based on region, Asia Pacific segment is expected to grow during the
forecast period.
The region has a significant agricultural sector, with
countries like China and India being major contributors to global food
production. In China, for example, the large population and growing middle
class have led to a rise in demand for food crops, putting pressure on farmers
to maximize crop yields and ensure food security. To meet this challenge,
advanced agricultural technologies, such as nano urea, are being adopted. Nano
urea offers controlled-release properties and enhanced nutrient absorption
capabilities, which are particularly beneficial in densely populated areas
where efficient use of resources is crucial.Moreover, the Asia Pacific region
is witnessing rapid urbanization and industrialization, which is further
driving the demand for high-quality fertilizers. As more land is converted for
urban development and industrial purposes, farmers are faced with the challenge
of producing higher yields on limited agricultural land. Nano urea, with its
ability to maximize nutrient utilization and minimize nutrient losses, is
increasingly being embraced by farmers in the region. Not only does it ensure
sustainable agricultural practices, but it also helps meet the rising demand
for food in a resource-efficient manner.
Major companies operating in Global
Nano Urea Market are:
- Indian Farmers Fertilizer
Cooperative Limited (IFFCO)
- National
Fertilizers Limited
- Rashtriya
Chemical & Fertilizers Limited
- Hindustan
Insecticides Limited (HIL) & Fertilizers and Chemical Travancore (FACT)
- Organization
of Brazilian Cooperatives
- Cooperative
Federation Of Argentina & INAES
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“Growing application of nano urea in various end user
industries are key drivers of the nano urea market. Growth in competitive
landscape and presence of well-established companies in the market who are
dedicated to enhance their productivity of nano urea with every passing year
are anticipated to register an impressive growth to Global Nano Urea Market in
the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Nano urea Market By
End User (Food Crops, Cash Crops, Horticulture Crops, Plantation Crops, Others),
By
Region, By Competition Forecast
& Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Nano Urea Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Nano Urea Market.
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