The global catalyst fertilizers market size is expected to reach USD 3.4 Billion in 2028 and register a revenue CAGR of 2.8%, according to the latest report by Reports and Data. Key factors such as rising concerns regarding pollution and increasing support from governments of various countries to promote usage of catalysts for making fertilizers are factors driving market revenue growth.
Catalysts are compounds that are widely used in various agricultural and oil gas applications. These are used to enhance fertilizer efficiency and overall growth of plants. Rising demand for high-quality crops and food due to rapidly expanding population and rising demand for ammonia and phosphate fertilizers are some key factors fueling market revenue growth. Technological advancements in the agriculture sector and increasing adoption of low-emission fertilizers are some other major factors fueling revenue growth of the global catalyst fertilizers market. Additionally, government initiatives to support environmental awareness programs in remote areas and educate farmers about catalyst fertilizers are boosting market growth.
However, factors such as lack of awareness regarding benefits of using catalyst fertilizers, time consuming process of replacing catalyst membranes, and increasing preference for organic fertilizers are factors that could hamper revenue growth of the global catalyst fertilizers market between 2021 and 2028.
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Some major companies profiled in the market report are Clariant International (Switzerland), DowDuPont (US), Project Development India Ltd. (India), Johnson Matthey (UK), Haldor-Topsoe (Denmark), LKAB Minerals (Sweden), N.E. Chemcat (Japan), QuantumSphere Inc. (US), Quality Magnetite (US), and Oham Industries (India). Sud-Chemie India Pvt. Ltd., and ThyssenKrupp AG.
Some Key Highlights from the Report:
- Based on process, nitric acid production segment is expected to register a steady revenue CAGR between 2021 and 2028, owing to implementation of stringent regulations by governments to curb excessive use of ammonium nitrate in fertilizers.
- On the basis of product, precious metals segment is expected to account for significant revenue share throughout the forecast period, owing to high stability of these metals during chemical reactions.
- Based on application, nitrogenous fertilizers segment is expected to account for the largest revenue share during the forecast period. Growing demand for ammonia and urea, as well as increasing awareness about greenhouse gases emission has increased demand for catalysts in ammonia production.
- Asia Pacific accounted for the largest revenue share of 56% in 2020 and is expected to register highest revenue CAGR of 2.7% throughout the forecast period. This growth is attributed to increasing use of catalyst fertilizers in the agricultural sector, awareness among farmers to enhance crop yield and quality, and rising demand for quality food.
- Europe is expected to account for the second-largest revenue share in global market during the forecast period, owing to increasing government support for encouraging farmers to practice sustainable farming and high demand for quality crops and food products.
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For this study, Reports and Data has segmented the global catalyst fertilizers market based on product, fertilizer production process, fertilizer application, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2028)
- Base Metals
- Iron-Based
- Vanadium-Based
- Nickel-Based
- Zinc-Based
- Cobalt-Based
- Chromium-Based
- Molybdenum-Based
- Precious Metals
- Platinum-Based
- Rhodium-Based
- Palladium-Based
- Ruthenium-Based
Fertilizer Production Process Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- Haber - Bosch process
- Contact Process
- Nitric Acid Production
- Potassium Fertilizer Production
- Urea Production
Fertilizer Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- Nitrogenous fertilizers
- Phosphatic fertilizers
Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Russia
- Italy
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Argentina
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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