Global Fertilizer Catalyst Market is valued approximately USD 2.68 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 2.29% over the forecast period 2021-2027. Catalysts are vital materials in the industrial production that accelerate chemical processes without having other effect on the end product. The main function of the catalyst fertilizers is to reduce the time of machine use by expediating the fertilizer production process. While undertaking this, they also help in reducing the greenhouse gas emission, and thus are environment-friendly compounds. They increase the output and help in decreasing overall costs too. Above mentioned advantages, coupled with the increasing demand for fertilizers due to increase in crop fields and food production, are driving the fertilizer catalyst market. The government across nations are also promoting its use by implementing rules and regulations for using environment friendly processes. According to UN’s Food and Agriculture Organization, total production of primary crops amplified by almost 50% between 2000 and 2018, to 9.1 billion tons in 2018, representing 2.9 billion tons more than in 2000. The overall fertilizer used in 2018 was 53 million tons, or 40% higher than in 2000. In 2018, Asia accounted for 55% of world total agricultural use of chemical fertilizers, followed by the Americas (27 percent), Europe (12 percent) and Africa (4 percent). The high growth rate in both food production as well as fertilizer use is bound to increase the use of catalysts as their demand will surge for increasing process efficiencies and reducing hazardous gas. Catalysts used in the fertilizers production process need to disposed as it falls under the category of hazardous industrial waste. The issue in their disposal and storage may act as a restraint for its growth. However, increasing efforts from government to tackle greenhouse gas emissions acts as an opportunity for Fertilizer Catalyst Market in subsequent decade.
Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are analysed to provide a holistic picture of Fertilizer Catalyst Market. Due to eco-friendly practices followed by fertilizers manufacturers as well as higher per capita income, North America is the significant region across the world in terms of market share. Whereas, Asia-Pacific is expected to exhibit highest growth rate for the forecast period 2021-2027 owing to the growing crop production and demand for fertilizers. Rising disposable income and growing awareness for environment friendly practices will also boost growth in this region.
Major market player included in this report are:
Sud-Chemie India Pvt. Ltd.
LKAB Minerals AB
Unicat Catalyst Technologies Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Iron Based Catalyst
Vanadium Based Catalyst
Platinum Based Catalyst
Rhodium Based Catalyst
Nickel Based Catalyst
Palladium Based Catalyst
Ruthenium Based Catalyst
Zinc Based Catalyst
Cobalt Based Catalyst
Molybdenum Based Catalyst
Copper Chromite Catalyst
Chromium Based Catalyst
Nitric Acid Production
Potassium Fertilizer Production
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Fertilizer Catalyst Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers