Nitrification & Urease Inhibitors Market - Forecast(2024 - 2030)
Nitrification & Urease Inhibitors Market Overview
The Nitrification & Urease Inhibitors Market size is estimated to reach US$1,855.5 million by 2027, after growing at a CAGR of 2.6% during the forecast period 2022-2027. Nitrification & Urease Inhibitors are the chemical compounds such as nitrapyrin,
N-(n-butyl) thiophosphorictriamide (NBPT) and dicyandiamide that are used in fertilizers
to reduce nitrate loss in soil & improve its quality. Their ability to prevent
soil from denitrification and leaching is driving their demand in the agriculture
sector which further boosts Nitrification & Urease Inhibitors Market growth.
Rapid population growth has increased the consumption scale of food items,
thereby increasing agricultural production. According
to the United States Department of Agriculture, in 2022, wheat production in
Canada is projected to grow by 3%. In addition to this, rapid growth in
horticulture and the usage of new fertigation technologies are driving the Nitrification & Urease Inhibitors industry. However, regulations regarding
chemical usage in fertilizers can hamper the Nitrification & Urease Inhibitors Market size during the forecast period. COVID-19 negatively impacted
the Nitrification & Urease Inhibitors industry outlook, as there was a drop
in their market revenue resulting from lockdown restrictions.
Nitrification & Urease Inhibitors Market Report Coverage
The “Nitrification & Urease Inhibitors Market Report – Forecast (2022 – 2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Nitrification & Urease Inhibitors Industry.
Key Takeaways
- Asia-Pacific dominates the Nitrification & Urease Inhibitors industry because of the rapidly growing agriculture production in the region. According to India’s Ministry of Agriculture, in 2021, vegetable production stood at 204.61 million tons, showing a 2% increase from 2020.
- The growing usage of new technologies in the fertigation process has positively impacted the usage of Nitrification and Urea Inhibitors, thereby positively impacting the Nitrification & Urease Inhibitors Industry outlook.
- Stringent regulations regarding nitrogen-based fertilizers usage in agricultural farmlands can impact their market growth. They may affect the Nitrification & Urease Inhibitors Market size during the forecast period.
Figure: Nitrification & Urease Inhibitors Market Revenue Share by Geography, 2021 (%)
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Nitrification & Urease Inhibitors Market Segment Analysis – by Product Type
Nitrification & Urease Inhibitors Market Segment Analysis – by End-use Industry
Nitrification & Urease Inhibitors Market Segment Analysis – by Geography
Nitrification & Urease Inhibitors Market Challenges
Stringent Government Regulations:
Nitrification & Urease Inhibitors Market Drivers
Bolstering Growth in Horticulture:
Nitrification & Urease Inhibitors, being effective fertilizers, hold major uses in
horticulture which requires rapid use of insecticides to control a variety of
agricultural pests that can damage crops and reduce farm productivity. The high
demand for fruits and vegetables that provide critical nutrients for a
balanced diet is increasing horticulture production. According to
the Agriculture Ministry of India, the
horticulture production in India was 330 million tons in 2020, showing an
increase of 3% from 2019. Furthermore, according to the U.S. Department of
Agriculture, in 2022, horticulture crop production is projected to increase by
1.4% in the U.S. Such an increase in horticulture production would propel the
growth of the Nitrification & Urease Inhibitors industry during the forecast
period.
Launches of Modern Technologies for Fertigation:
Nitrification & Urease Inhibitors Industry Outlook
- BASF SE
- DowDuPont
- Solvay S.A
- Evonik
- National Fertilizers Limited
- Nico Orgo Manures
- Koch Fertilizers LLC
- Dow AgroSciences
- Compo Expert GmbH
- Eco Agro
Recent Developments
- In June 2021, IFFCO launched nano urea in liquid form as an alternative to conventional urea inhibitors. The new alternative has more efficiency and less biotoxicity which would stimulate the demand for fertilizers usage.
- In February 2020, BASF SE developed a new range of DMPP nitrification inhibitors which have the advantage of effectively regulating the conversion of soil nitrogen, thereby improving the yield and quality of crops.
- In September 2019, Koch Agronomic Services LLC expanded its nitrification inhibitors business in Canada by establishing its new product CENTURO. Such a strategy has enabled the company to expand its presence in the nitrification inhibitors products market.
Relevant Reports
Report Code: CMR 1375
Report Code: CMR 0542
Report Code: CMR 0115
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