The Fertilizer Catalyst Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fertilizer Catalyst Global Market Report 2024, 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 growth in the historic period can be attributed to need for enhanced crop yields, fertilizer efficiency, environmental regulations, sustainable agriculture practices, soil fertility preservation.
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 growth in the forecast period can be attributed to climate change adaptation, sustainable and eco-friendly catalysts, regulatory compliance, crop-specific catalysts, increasing precision agriculture. Major trends in the forecast period include nano and micronutrient catalysts, enhanced nutrient release, data-driven nutrient management, customized catalyst blends, technological integration.
The increasing production of fertilizers is expected to propel the growth of the fertilizer catalyst market going forward. Fertilizers refer to chemical substances that have been supplied to crops to increase their productivity. Fertilizer catalysts are used by the fertilizer manufacturing industry, and the use of a catalyst helps produce a higher volume of fertilizer at a lower cost. For instance, in September 2023, according to S&P Global Inc., a US-based capital company, in 2021, the primary fertilizer demand witnessed a remarkable increase, surging from $115 billion to well over $231 billion. Therefore, the growth in the production of fertilizers is driving the growth of the fertilizer catalyst market going forward.
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The 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
Product innovation is a key trend gaining popularity in the fertilizer catalyst market. Major companies operating in the fertilizer catalyst market are focused on product innovation to strengthen their position in the market. For instance, in 2021, Clariant, a Switzerland-based chemicals company that manufactures fertilizer catalysts, developed a new fertilizer catalyst called EnviCat N2O-S. This product is proven to remove up to 95% of nitrogen generated as a by-product of nitric acid production. By avoiding greenhouse gas emissions, Clariant aims to help reduce the harmful environmental impact of fertilizer manufacturing.
The fertilizer catalyst market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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