Global Fertilizer Catalyst market trends 2024, Forecast To 2033
31 Jan, 2024
The fertilizer catalyst market has experienced strong growth, escalating from $2.87 billion in 2023 to $3.05 billion in 2024, with a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period is attributed to the need for enhanced crop yields, fertilizer efficiency, environmental regulations, sustainable agriculture practices, and soil fertility preservation. The fertilizer catalyst market is expected to witness continued growth in the next few years, reaching $3.92 billion in 2028, with a CAGR of 6.5%. Contributing factors include climate change adaptation, sustainable and eco-friendly catalysts, regulatory compliance, crop-specific catalysts, and increasing precision agriculture. Major trends in the forecast period include nano and micronutrient catalysts, enhanced nutrient release, data-driven nutrient management, customized catalyst blends, and technological integration.
Global Fertilizer Catalyst Market Key Driver
The fertilizer catalyst market is growing due to the increasing production of fertilizers. In 2021, primary fertilizer demand surged from $115 billion to over $231 billion, driving the need for fertilizer catalysts. The growth in fertilizer production is expected to continue propelling the market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Fertilizer Catalyst Market ReportGlobal Fertilizer Catalyst Market Segments
The global fertilizer catalyst market covered in this report is segmented –
1) By Product: Iron-Based, Vanadium Based, Platinum-Based, Rhodium Based, Nickel Based, Palladium Based, Ruthenium Based, Zinc Based, Cobalt Based, Molybdenum Based
2) By Process: Haber-Bosch Process, Contact Process, Nitric Acid Production, Potassium Fertilizer Production, Urea Production
3) By Application: Nitrogenous Fertilizers, Phosphatic Fertilizers, Other Applications
By Geography: The regions covered in the Fertilizer Catalyst market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacificwas the largest region in the fertilizer catalyst market in 2023. Asia-Pacificis expected to be the fastest-growing region in the forecast period. The regions covered in the fertilizer catalyst market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Fertilizer Catalyst Industry Players
Süd-Chemie India Pvt. Ltd., thyssenkrupp AG, BASF SE, LKAB Minerals AB, Albemarle Corporation, Unicat Catalyst Technologies Inc., Clariant AG, Johnson Matthey plc, Haldor Topsoe Inc., Quality Magnetite LLC, Honeywell International Inc., Chempack, Shandong Aobao Chemical Industry Group Co. Ltd., QuantumSphere Inc., Tanaka Holdings Co. Ltd., Oham Industries Pvt Ltd., Dow Inc., Project & Development India Ltd., N.E. Chemcat Corp., Heraeus Holding GmbH, CF Industries Holdings Inc., Israel Chemicals Ltd., Oriental Chemical Industries, Axens Solutions, W. R. Grace & Co., Sinopec, Saudi Basic Industries Corp (SABIC), Arkema Inc., Evonik Industries AG
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Fertilizer Catalyst Market Overview
The fertilizer catalysts are used in the production of fertilizers to speed up the chemical reaction. Fertilizer catalysts refer to catalyst substances that are used in fertilizer manufacturing to increase the rate of reaction and reduce the production time of fertilizers. A catalyst lowers the activation energy and allows the bonds of nitrogen and hydrogen to be more easily broken.
Fertilizer Catalyst Global Market Report 2023 provides data on the global fertilizer catalyst market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The fertilizer catalyst market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.