The Catalyst Fertilizer 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 Catalyst Fertilizer Global Market Report 2024, 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 growth in the historic period can be attributed to the expansion of agricultural activities, increased need for higher crop yields, growing awareness of environmental issues, increased focus on improving soil health, and increased 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%. The growth in the forecast period can be attributed to increasing adoption of precision agriculture, continued growth of the global population, widespread adoption of soil testing and analysis, growing popularity of organic and sustainable farming practices, and the increasing use of biotechnology. Major trends in the forecast period include advances in microbial catalysts, integration with digital agriculture platforms, sustainable agriculture practices, exploration of catalyst fertilizers, and product innovations.
The increasing demand for ammonia production is expected to propel the growth of the catalyst fertilizer market going forward. Ammonia is a colorless, pungent gas composed of nitrogen and hydrogen and serves as a starting material for the production of many commercially important nitrogen compounds. Ammonia makes a huge contribution to the agricultural system through its use as fertilizer and helps sustain food production. For instance, according to the International Energy Agency, a France-based autonomous intergovernmental organization, ammonia production is expected to increase by nearly 40% by 2050. Therefore, increasing demand for ammonia production will drive the catalyst fertilizers market growth.
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The catalyst fertilizer market covered in this report is segmented –
1) By Production Process: Haber-Bosch Process, Contact Process, Other Processes
2) By Operation: Ammonia Production, Formaldehyde Production, Methanol Production, Syngas Production
3) By Metal Group: Base Metals, Precious Metals
4) By Application: Nitrogenous Fertilizers, Phosphatic Fertilizers
Strategic partnerships are the key trend gaining popularity in the catalyst fertilizer market. Major companies operating in the catalyst fertilizer sector are looking for partnerships to strengthen their position in the market. For instance, in March 2022, Casale SA, a Switzerland-based chemicals company, partnered with Ferkensco Management Limited, an Uzbekistan-based investment holding company, and Enter Engineering Pte Ltd., a Singapore-based engineering services provider. The agreement represents the foundation for future cooperation between the three companies to support the construction of an ammonia-based fertilizer plant in Uzbekistan. Furthermore, in December 2020, Johnson Matthey, a UK-based chemicals company, partnered with ThyssenKrupp AG, a Germany-based technology provider for world-scale ammonia plants. Through this partnership, both companies signed an agreement to renew their collaboration around the ammonia production process and catalyst supply.
Major Players:
- Clariant International Ltd.
- Johnson Matthey PLC
- Haldor Topsoe India Private Limited
- QuantumSphere Inc.
- Chempack Solutions Inc.
The catalyst fertilizer market report table of contents includes:
1. Executive Summary
2. Catalyst Fertilizer Type Transformer Market Characteristics
3. Catalyst Fertilizer Type Transformer Market Trends And Strategies
4. Catalyst Fertilizer Type Transformer Market – Macro Economic Scenario
5. Global Catalyst Fertilizer Type Transformer Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
35. Appendix
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