Market Overview
The global nitrification and urease inhibitors market reached US$ 1,800.11 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 2,326.23 million by 2030. The market is ezxpxpected to at a CAGR of 3.2% during the forecast period (2023-2030).
Environmental concerns and sustainability goals have become important drivers for the adoption of nitrification and urease inhibitors. Excessive use of nitrogen fertilizers can lead to water pollution, greenhouse gas emissions, and other environmental issues. By using inhibitors, farmers can minimize these negative impacts and contribute to sustainable agricultural practices. The increasing adoption of sustainable agricultural practices will be a defining factor in driving global nitrification and urease inhibitors market growth in the coming years.
Market Dynamics
Increase in Government Support and Incentives
Many countries have implemented regulations and incentives to promote sustainable agricultural practices. The regulations often include guidelines for nutrient management and the use of nitrification and urease inhibitors. Governments provide incentives, subsidies, or support programs to encourage farmers to adopt these inhibitors as part of their nutrient management strategies. The existence of supportive policies and regulations drives the growth of the global nitrification and urease inhibitors market by creating a favorable environment for the adoption of nitrification and urease inhibitors.
Increasing Focus on Precision Agricultural Practices
Precision agriculture involves the use of advanced technologies, such as remote sensing, GPS, and data analytics, to optimize agricultural practices. Precision agriculture enables farmers to apply fertilizers and other inputs precisely where and when they are needed. Nitrification and urease inhibitors can be integrated into precision agriculture systems to improve nitrogen management and enhance nutrient use efficiency. As precision agriculture continues to gain momentum globally, the demand for nitrification and urease inhibitors is expected to grow.
COVID-19 Impact Analysis
The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global nitrification and urease inhibitors market is segmented based on type, nutrient, crop and region.
Owing to its Beneficial Properties, Nitrogen Segment Occupies a Significant Share in the Nutrient Segment
Nitrogen segment held 34% of the market share in the nutrient segment in 2022 and is expected to increase to 36% by 2030. Nitrogen is considered the most important nutrient in nitrification and urease inhibitors due to its vital role in plant growth and development. Nitrogen is an essential component of proteins, enzymes, nucleic acids, and chlorophyll, all of which are critical for various physiological processes in plants.
Geographical Analysis
The Application of Advanced Agricultural Practices Makes North America a Key Region for the Global Nitrification And Urease Inhibitors Market
North America commands a share of nearly 28% in the global nitrification and urease inhibitors market. The North America nitrification and urease inhibitors market is estimated to grow at a CAGR of 2.84% over the forecast period. The U.S. holds 57% of the market share in the North American nitrification and urease inhibitors market in 2022.
In the North America, the lands are acidic, and the use of nitrification inhibitors helps maintain the soil’s desirable pH level. The major market drivers in the US are the easy application and the availability of nitrification inhibitors. Additionally, the high adoption of precision agriculture technology drives market growth, as the use of variable rate technology (VRT) requires liquid fertilizers.
Competitive Landscape
The major global players include BASF SE, Compo Expert Gmbh, Dow, DuPont Inc., Eco Agro, Evonik, Koch Fertilizer, LLC, National Fertilizers Limited, Nico Orgo Manures and Solvay SA.
Why Purchase the Report?
- To visualize the global nitrification and urease inhibitors market segmentation based on type, nutrient, crop and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of nitrification and urease inhibitors market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Derivative mapping available as Excel consisting of key products of all the major players.
The global nitrification and urease inhibitors market report would provide approximately 57 tables, 65 figures and 195 Pages.
Target Audience 2023
- End-User Industries
- Petrochemical Manufacturers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies