The global Catalyst Fertilizers Market size is expected to reach USD 3.4 Billion in 2028 and register a revenue CAGR of 2.8%, according to the latest report by Reports and Data. Key factors such as rising concerns regarding pollution and increasing support from governments of various countries to promote usage of catalysts for making fertilizers are factors driving market revenue growth.
Some key factors driving market revenue growth are expansion of the agriculture sector and rising demand for high-quality crops and food products. Catalysts are used to enhance efficiency of fertilizers and improve the overall growth and performance of crops, vegetables, and plants. Primary function of these catalysts is to increase the rate of reaction and minimize emission from production processes. Technological advancements in the catalyst industry have helped in decreasing emission of greenhouse gases, which is expected to boost revenue growth of the catalyst fertilizers market.
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Key Players In The Industry:
Some major companies profiled in the market report are Clariant International (Switzerland), DowDuPont (US), Project Development India Ltd. (India), Johnson Matthey (UK), Haldor-Topsoe (Denmark), LKAB Minerals (Sweden), N.E. Chemcat (Japan), QuantumSphere Inc. (US), Quality Magnetite (US), and Oham Industries (India). Sud-Chemie India Pvt. Ltd., and ThyssenKrupp AG.
Market Dynamics:
Agriculture sector is one of the most important revenue generating sector and contributes significantly to the overall economic growth of a country. Technological advancements in agricultural equipment and techniques have drastically boosted output and production capacity. Rapid integration of ICT, robotics, aerial imagery and GPS techniques, and the Internet of Things, among others have radically shaped agricultural sector in the recent past. Growing adoption of precision agriculture and drones have enabled farms and businesses to increase their profit margins and improve their operations to be more efficient, safer, and environmentally sustainable.
Technological advancement in agricultural sector has led to higher productivity of crops, limited use of water and fertilizers which in turn have minimized crop prices, lower release of chemicals and pesticides into water bodies, and safer conditions of growing and high quality crops. Growing demand and increasing consumption of food across the globe owing to rapidly growing population is a key factor contributing to the revenue growth of the market. The report discusses the industry scope and development in key regions of the world such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer crucial insights about lucrative growth opportunities with regards to production and consumption pattern, supply and demand, consumer demand, and regulatory framework.
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Some Key Highlights from the Report:
- Based on process, nitric acid production segment is expected to register a steady revenue CAGR between 2021 and 2028, owing to implementation of stringent regulations by governments to curb excessive use of ammonium nitrate in fertilizers.
- On the basis of product, precious metals segment is expected to account for significant revenue share throughout the forecast period, owing to high stability of these metals during chemical reactions.
- Based on application, nitrogenous fertilizers segment is expected to account for the largest revenue share during the forecast period. Growing demand for ammonia and urea, as well as increasing awareness about greenhouse gases emission has increased demand for catalysts in ammonia production.
- Asia Pacific accounted for the largest revenue share of 56% in 2020 and is expected to register highest revenue CAGR of 2.7% throughout the forecast period. This growth is attributed to increasing use of catalyst fertilizers in the agricultural sector, awareness among farmers to enhance crop yield and quality, and rising demand for quality food.
- Europe is expected to account for the second-largest revenue share in global market during the forecast period, owing to increasing government support for encouraging farmers to practice sustainable farming and high demand for quality crops and food products.
Market Segmentation:
For this study, Reports and Data has segmented the global catalyst fertilizers market based on product, fertilizer production process, fertilizer application, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2028)
- Base Metals
- Iron-Based
- Vanadium-Based
- Nickel-Based
- Zinc-Based
- Cobalt-Based
- Chromium-Based
- Molybdenum-Based
- Precious Metals
- Platinum-Based
- Rhodium-Based
- Palladium-Based
- Ruthenium-Based
Fertilizer Production Process Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- Haber - Bosch process
- Contact Process
- Nitric Acid Production
- Potassium Fertilizer Production
- Urea Production
Fertilizer Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- Nitrogenous fertilizers
- Phosphatic fertilizers
Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Russia
- Italy
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Argentina
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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Objective of Studies:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Catalyst Fertilizers market.
- To provide insights about factors affecting the market growth. To analyze the Catalyst Fertilizers market based on various factors- price analysis, supply chain analysis, Porte five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, Latin America and Rest of the World.
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by application, product type and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Catalyst Fertilizers market.
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