The increasing focus on crop yields and quality, coupled with advancements in technology, are key factors driving the global nano urea market during the forecast period of 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 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:
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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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