PUBLISHER: The Business Research Company | PRODUCT CODE: 1391222
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391222
“Fertilizer Catalyst 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 fertilizer catalyst 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 fertilizer catalyst? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The fertilizer catalyst 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.
Fertilizer catalysts are employed in fertilizer production to accelerate chemical reactions. These catalysts are substances used in the manufacturing of fertilizers to enhance reaction rates and reduce production time. By lowering the activation energy, catalysts facilitate the more efficient breaking of bonds between nitrogen and hydrogen.
The primary products of fertilizer catalysts include iron-based, vanadium-based, platinum-based, rhodium-based, nickel-based, palladium-based, ruthenium-based, zinc-based, cobalt-based, molybdenum-based, chromium-based, and copper chromite. Molybdenum-based catalysts involve a metallic element that shares properties with chromium and tungsten. It is utilized to strengthen and harden steel and serves as a trace element in plant and animal metabolism. The processes employed in fertilizer production include the Haber-Bosch process, the contact process, nitric acid production, potassium fertilizer production, and urea production. Various applications for fertilizer catalysts encompass nitrogenous fertilizers, phosphatic fertilizers, and other specialized applications.
The fertilizer catalyst market research report is one of a series of new reports from The Business Research Company that provides fertilizer catalyst market statistics, including fertilizer catalyst industry global market size, regional shares, competitors with a fertilizer catalyst market share, detailed fertilizer catalyst market segments, market trends and opportunities, and any further data you may need to thrive in the fertilizer catalyst industry. This fertilizer catalyst market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fertilizer catalyst market size has grown strongly in recent years. It will grow from $2.87 billion in 2023 to $3.05 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The expansion observed during the historical period can be attributed to the imperative need for improved crop yields, a focus on enhancing fertilizer efficiency, compliance with environmental regulations, the adoption of sustainable agriculture practices, and efforts directed at preserving soil fertility.
The fertilizer catalyst market size is expected to see strong growth in the next few years. It will grow to $3.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be attributed to factors such as climate change adaptation, the demand for sustainable and eco-friendly catalysts, adherence to regulatory compliance, the use of crop-specific catalysts, and the rising adoption of precision agriculture practices. Noteworthy trends expected during the forecast period include the emergence of nano and micronutrient catalysts, advancements in nutrient release technologies, the integration of data-driven nutrient management practices, the development of customized catalyst blends, and the increased incorporation of technology in the fertilizer catalyst industry.
The anticipated increase in fertilizer production is set to drive the growth of the fertilizer catalyst market in the future. Fertilizers, chemical substances applied to crops to boost productivity, are produced using fertilizer catalysts in the manufacturing industry. Catalysts play a crucial role in enabling higher fertilizer production volumes at a reduced cost. Notably, in September 2023, S&P Global Inc., a US-based capital company, reported a significant surge in primary fertilizer demand from $115 billion to well over $231 billion in 2021. Consequently, the upswing in fertilizer production is a key factor propelling the growth of the fertilizer catalyst market.
The rising demand for agricultural production is another driving force for the fertilizer catalyst market. Agricultural production, involving the cultivation, growth, and harvesting of crops, as well as the raising of livestock for food and other agricultural products, relies on fertilizer catalysts to enhance fertilizer application efficiency, improve nutrient utilization, and ultimately boost crop yields. According to agricultural production statistics by the Food and Agriculture Organization (FAO), a US-based government organization, global production of primary crop commodities reached 9.5 billion metric tons in 2021, marking a two percent increase from the previous year. Therefore, the escalating demand for agricultural production is expected to contribute significantly to the growth of the fertilizer catalyst market.
A notable trend gaining traction in the fertilizer catalyst market is product innovation. Major companies in this sector are actively engaged in innovating their products to strengthen their market position. In 2021, Clariant, a Switzerland-based chemicals company specializing in fertilizer catalysts, introduced a novel fertilizer catalyst named EnviCat N2O-S. This innovative product has demonstrated the ability to remove up to 95% of nitrogen generated as a by-product of nitric acid production. By curbing greenhouse gas emissions, Clariant aims to contribute to reducing the adverse environmental impact of fertilizer manufacturing. Product innovation remains a key focus for companies seeking to stay competitive in the evolving fertilizer catalyst market.
Major players in the fertilizer catalyst industry are increasingly adopting a strategic partnerships approach to provide essential fertilizer services to individuals, businesses, and governments. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. A noteworthy example is the partnership formed in March 2022 between Casale SA, a Switzerland-based chemicals company, Ferkensco Management Limited, an agricultural chemical company based in Uzbekistan, and Enter Engineering Pte Ltd., a construction company also based in Uzbekistan. This collaboration lays the foundation for future joint efforts among the three companies in supporting the development of an ammonia-based fertilizer plant in Uzbekistan.
In April 2021, Unicat Catalyst Technology Company, a US-based catalyst producer, took a significant step by acquiring The Magma Group for an undisclosed amount. This strategic acquisition positions Unicat Catalyst Technology Company to offer innovative catalyst and ceramic products, along with various services in industries such as agriculture, green energy, and chemicals. The Magma Group, a UK-based manufacturer specializing in fertilizer catalysts, ceramics, combustion engineering, and related services, adds valuable expertise to Unicat Catalyst Technology Company's portfolio through this acquisition.
Major companies operating in the fertilizer catalyst market include Sud-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
Asia-Pacific was the largest region in the fertilizer catalyst market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this fertilizer catalyst market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the fertilizer catalyst market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The fertilizer catalysts 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.