NP or nitrogen and phosphorus fertilizer represents an inorganic nitrous compound that is extensively utilized to improve the growth rate, texture, color, and quality of crops. It is added to the soil for increasing soil fertility and replenishing lost nutrients. NP fertilizer contains varying quantities of ammonium nitrate, ammonium sulfate, calcium ammonium nitrate, urea, etc. It assists in minimizing the risk of soil deficiencies, enhancing food quality, preventing the formation of lumps and dust, promoting flower and seed formation, etc. Furthermore, NP fertilizer can be directly applied in plantations and fields.Browse complete production cost analysis report with TOC and list of figures & tables: https://www.syndicatedanalytics.com/np-fertilizer-production-cost-analysis-report
The growing consumer awareness towards soil deterioration caused by conventional agricultural practices and limited arable land is primarily driving the NP fertilizer market. Additionally, the escalating demand for high-quality food grains among health-conscious individuals is also stimulating the market growth. Besides this, government bodies across the countries are launching various favorable policies by offering grants and subsidies to encourage the utilization of novel value-added NP fertilizers for commercial cultivation, which in turn, is acting as another significant growth-inducing factor. Moreover, numerous other factors, such as the widespread adoption of NP fertilizer as corrosion inhibitors, anti-dusting, and hygroscopic agents, the introduction of novel strategies and methods for crop enhancement, the inflating popularity of grain-based biofuels, etc., are positively influencing the global market. Apart from this, the rising investments in R&D activities aimed at developing efficient, cost-effective, and eco-friendly product variants to maximize productivity are anticipated to fuel the NP fertilizer market over the forecasted period.
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