PUBLISHER: The Business Research Company | PRODUCT CODE: 1391076
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391076
“Catalyst Fertilizer Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on catalyst fertilizer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for catalyst fertilizer? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The catalyst fertilizer market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Catalyst fertilizers play a crucial role in enhancing the efficiency of fertilizer production by accelerating the reaction rates involved. Fertilizers, whether natural or synthetic, contain chemical elements that promote plant growth. The catalysts employed in fertilizer production serve to expedite both forward and backward reactions. By making nutrients more readily available for plant absorption and utilization, catalyst fertilizers contribute to maximizing yield potential and ensuring a significant return on investment (ROI) for growers.
The primary production processes for catalyst fertilizers include the Haber-Bosch process, the contact process, and other methods. The Haber-Bosch process, a prominent technique in catalyst fertilizer production, involves artificial nitrogen fixation and stands as the main industrial procedure for ammonia production. This process encompasses various operations such as ammonia, formaldehyde, and methanol production, as well as syngas production, utilizing a range of metal groups including iron, nickel, vanadium, platinum, rhodium, among others. Catalyst fertilizers produced through these processes find applications in diverse sectors, including nitrogenous and phosphatic fertilizers.
The catalyst fertilizers market research report is one of a series of new reports from The Business Research Company that provides catalyst fertilizer market statistics, including global market size, regional shares, competitors with a catalyst fertilizer market share, detailed catalyst fertilizer market segments, market trends and opportunities, and any further data you may need to thrive in the catalyst fertilizer industry. This catalyst fertilizer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The catalyst fertilizer market size has grown strongly in recent years. It will grow from $3 billion in 2023 to $3.17 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The expansion observed in the historical period can be attributed to several factors, including the growth of agricultural activities, a heightened demand for higher crop yields, increased awareness of environmental issues, a greater focus on improving soil health, and the escalating impact of climate change.
The catalyst fertilizer market size is expected to see strong growth in the next few years. It will grow to $4.09 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. Anticipated growth in the forecast period can be attributed to various factors, including the increasing adoption of precision agriculture, the sustained growth of the global population, widespread uptake of soil testing and analysis techniques, a rising interest in organic and sustainable farming practices, and the growing utilization of biotechnology in agriculture. Notable trends expected in the forecast period encompass advances in microbial catalysts, integration with digital agriculture platforms, the promotion of sustainable agriculture practices, exploration of catalyst fertilizers, and ongoing product innovations.
The catalyst fertilizer market is poised for growth, driven by the increasing demand for ammonia production. Ammonia, a crucial starting material for various nitrogen compounds, plays a vital role in agriculture as a fertilizer, contributing significantly to food production. According to the International Energy Agency, ammonia production is expected to surge by nearly 40% by 2050, indicating a robust demand for this key component. This trend is set to propel the growth of the catalyst fertilizers market, positioning it as a critical player in supporting global agricultural systems.
The catalyst fertilizer market is also witnessing growth due to the escalating demand for agricultural products. With the world's population expanding, there is a pressing need to enhance agricultural productivity to meet the increasing demand for food. Catalyst fertilizers, featuring additives that facilitate nutrient absorption by plants, have emerged as a valuable solution to enhance soil fertility and boost crop production. These fertilizers not only improve nutrient utilization efficiency but also contribute to environmental sustainability. For example, in India, wheat exports witnessed a significant increase from $568 million in 2020-21 to $2.12 billion in 2021-22. Additionally, rice production in India during 2021-22 reached a record 127.93 million tons, surpassing the average production of the past five years. This rise in demand for agricultural products is expected to be a driving force behind the catalyst fertilizers market's growth.
Strategic partnerships are becoming a prominent trend in the catalyst fertilizer market, with major companies seeking collaborations to strengthen their market position. In March 2022, Casale SA, a Switzerland-based chemicals company, formed a strategic partnership with Ferkensco Management Limited, an Uzbekistan-based investment holding company, and Enter Engineering Pte Ltd., a Singapore-based engineering services provider. This collaboration is aimed at supporting the construction of an ammonia-based fertilizer plant in Uzbekistan, highlighting the significance of partnerships in advancing the catalyst fertilizers sector. Additionally, in December 2020, Johnson Matthey, a UK-based chemicals company, collaborated with ThyssenKrupp AG, a Germany-based technology provider, to renew their collaboration in the ammonia production process and catalyst supply. Such partnerships reflect the industry's commitment to innovation and collaborative efforts to address the evolving needs of the market.
In February 2021, Paradeep Phosphates Ltd., an Indian fertilizer manufacturing company, successfully acquired the fertilizer manufacturing plant of Zuari Agro Chemicals Limited (ZACL) for a substantial amount of $280 million. The primary objective behind this acquisition was Paradeep Phosphates' strategic initiative to consolidate its presence in the bulk fertilizer business. Zuari Agro Chemicals Limited, the entity from which the plant was acquired, is also a notable Indian company engaged in the manufacturing of fertilizers. This acquisition reflects Paradeep Phosphates' commitment to strengthening its position in the fertilizer industry through strategic business moves.
Major companies operating in the catalyst fertilizer market include Clariant International Ltd., Johnson Matthey PLC, Haldor Topsoe India Private Limited, QuantumSphere Inc., Chempack Solutions Inc., China Petroleum & Chemical Corporation., ThyssenKrupp AG, BASF SE, Casale SA, mmcite1 s.r.o., LKAB Minerals Limited, N.E.Chemcat Corporation, Quality Magnetite LLC, LyondellBasell Industries N.V., Agricen, DowDuPont Inc., Oham Industries Limited, Albemarle Corporation, Unicat Catalyst Technologies Inc., Sud-Chemie India Pvt. Ltd., Catalyst Biosciences Inc., BioWorks Inc., Camson Bio Technologies Limited, Catalyst AG, CF Industries Holdings Inc., Chemi Nutra, Coromandel International Limited
Asia-Pacific was the largest region in the catalyst fertilizers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the catalyst fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the catalyst fertilizers market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The catalyst fertilizer market consists of sales of palladium-based and vanadium-based catalyst fertilizer. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.