Press release
Catalyst Fertilizer Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Clariant International Ltd, Johnson Matthey Plc, Haldor Topsoe India Private Limited, QuantumSphere Inc
Catalyst Fertilizer Market Size
The Business Research Company offers in-depth market insights through Catalyst Fertilizer Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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.
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Market Segmentation:
The main types of production processes in catalyst fertilizers are the Haber-Bosch process, the contact process, and others. The Haber-Bosch process of catalyst fertilizers refers to the sale of catalyst fertilizers that are produced by the Haber-Bosch process, which is an artificial nitrogen fixation process and is the main industrial procedure for the production of ammonia today. The various operations include ammonia production, formaldehyde production, methanol production, syngas production, and involve several metal groups such as iron, nickel, vanadium, platinum, rhodium, and others. It is used in numerous applications, such as nitrogenous fertilizers and phosphatic fertilizers.
Major Driver - Increasing Demand For Ammonia Production Drive The Catalyst Fertilizer
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.
Competitive Landscape:
Major companies operating in the catalyst fertilizer market include Clariant International Ltd, Johnson Matthey Plc, Haldor Topsoe India Private Limited, QuantumSphere Inc., Chempack Solutions Inc., China Petroleum & Chemical Corporation., ThyssenKrupp AG, BASF SE, Casale SA, mmcité1 s.r.o., LKAB Minerals Limited, N.E.Chemcat Corporation, Quality Magnetite LLC, LyondellBasell Industries N.V., Agricen, DowDuPont Inc., Oham Industries Limited, Albemarle Corporation, Unicat Catalyst Technologies Inc., Süd-Chemie India Pvt. Ltd., Catalyst Biosciences Inc., BioWorks Inc., Camson Bio Technologies Limited, Catalyst AG, CF Industries Holdings Inc., Chemi Nutra, Coromandel International Limited
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Top Trend - Strategic Partnerships For Plant Expansion
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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Catalyst Fertilizer Market Characteristics
3. Catalyst Fertilizer Market Trends And Strategies
4. Catalyst Fertilizer Market - Macro Economic Scenario
5. Catalyst Fertilizer Market Size And Growth
…..
27. Catalyst Fertilizer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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