Global Catalyst Fertilizers Market was valued US$ 2.25 Bn in 2019, and expected to reach US$ 2.89 Bn by 2027, at a CAGR of 3.2 % during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global Catalyst Fertilizers market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in global Catalyst Fertilizers market.
The major factors behind the growth of the global catalyst fertilizers market are growing need for efficient fertilizer production across the globe, and increasing need for control of emissions from fertilizers. However, long replacement period for catalyst membranes could restrain the growth of the global catalyst fertilizers market. Further, increasing demand for the organic fertilizer will hamper the growth of the catalyst fertilizers market.
High growth in R&D activity to improve the quality and functionality of catalyst will offer the tremendous opportunity for the manufacturers.
Based on the Fertilizer production process, the Haber-Bosch process is projected to witness the fastest growth during the forecast period. Ammonia is one of the largest inorganic chemical produced across the globe through the Haber-Bosch process and approximately 80% of the entire ammonia produced by Haber-Bosch process. Further, the increasing emissions of NOX and N2O into the environment from ammonia production, emission controlling catalysts have also been developed and are increasingly adopted in conjunction with synthesis catalysts.
Based on the metal group, base metals segment are projected to witness the fastest growth in the catalyst fertilizer market during the forecast period. Catalysts are metal or organometallic compounds and are widely used in refinery and fertilizer applications. Nickel and vanadium pentoxide are widely used for sulfuric acid production in the Asia Pacific region. Raw materials occupy around 70% of the production cost, and since ammonia and phosphate fertilizer production is major in Asian countries, considering the developing economic conditions of these countries, cheaper catalysts would be determined to stabilize the fertilizer cost.
Based on the application, the nitrogenous fertilizers segment dominated the catalyst fertilizer market in 2017, and it is expected to witness the faster growth in the catalyst fertilizers market. Nitrogen is considered to be the most important nutrient, and plants absorb more nitrogen than any other element. Nitrogen is vital to in making sure plants are healthy as they develop and nutritious to eat after they’re harvested. That’s because nitrogen is essential in the formation of protein, and protein makes up much of the tissues of most living things.
Geographically, The Asia Pacific region is expected to account for the largest share in the Catalyst Fertilizers market during the forecast period. The Asia Pacific catalyst fertilizers market is driven by the rising need to increase crop yield and growing production of fertilizers. With the growing population in countries such as China and India, the demand for food products continues to grow each year in the Asia Pacific region.
Scope of Global Catalyst Fertilizers Market
Global Catalyst Fertilizers Market, by Fertilizer Production Process
- Haber – Bosch process
- Contact Process
Global Catalyst Fertilizers Market, by Metal Group
- Base Metals
- Precious Metals
Global Catalyst Fertilizers Market, by Fertilizer Application
Global Catalyst Fertilizers Market, By Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
Key Players Operating in Global Catalyst Fertilizers Market
- Clariant International
- Projects & Development India Limited (PDIL)
- Lkab Minerals
- Johnson Matthey
- Quantumsphere Inc.
- Haldor Topsoe
- Babcock and Wilcox Company
- Hitachi GE Nuclear Energy Ltd.For More Information:
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