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Fertilizer Catalyst Global Market Report 2024 by The Business Research Company | Süd-Chemie India Pvt. Ltd., thyssenkrupp AG, BASF SE, LKAB Minerals AB, Albemarle Corporation, Unicat Catalyst Technologies Inc., Clariant AG, Johnson Matthey plc, Haldor To
Fertilizer Catalyst Market Trends
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.
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Fertilizer Catalyst Market Major Segments
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
Key Driver - Rising Fertilizer Production Sparks Growth In The Fertilizer Catalyst Market
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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Prominent Trend - Innovation In Fertilizer Catalysts A Key Trend Shaping The Market
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.
Fertilizer Catalyst Market Players
Major companies operating in the fertilizer catalyst market include Süd-Chemie India Pvt. Ltd., thyssenkrupp AG, BASF SE, LKAB Minerals AB, Albemarle Corporation, Unicat Catalyst Technologies Inc., Clariant AG, Johnson Matthey plc, Haldor Topsoe Inc., Quality Magnetite LLC, Honeywell International Inc., Chempack, Shandong Aobao Chemical Industry Group Co. Ltd., QuantumSphere Inc., Tanaka Holdings Co. Ltd., Oham Industries Pvt Ltd., Dow Inc., Project & Development India Ltd., N.E. Chemcat Corp., Heraeus Holding GmbH, CF Industries Holdings Inc., Israel Chemicals Ltd., Oriental Chemical Industries, Axens Solutions, W. R. Grace & Co., Sinopec, Saudi Basic Industries Corp (SABIC), Arkema Inc., Evonik Industries AG
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the fertilizer catalyst market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fertilizer catalyst market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fertilizer Catalyst Market Report Structure
3. Fertilizer Catalyst Market Trends And Strategies
4. Fertilizer Catalyst Market - Macro Economic Scenario
5. Fertilizer Catalyst Market Size And Growth
…..
27. Fertilizer Catalyst Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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