What are the growth opportunities of Fertilizer Catalyst market in upcoming period?

Posted on 2022-10-14 by researchinsights in Agriculture // 0 Comments

San Francisco, California , USA, Oct 14, 2022 — /EPR Network/ —

Fertilizer Catalyst Industry Overview

The global Fertilizer Catalyst Market size is expected to reach USD 3.3 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 2.4% from 2021 to 2027. The market is expected to be driven by the growing application in the production of fertilizers and the need for improving process efficiencies.

The demand for ammonia and hydrogen gas in the agricultural and industrial sectors is rising, thereby positively impacting the market growth. Moreover, favorable regulations and subsidies offered by the government have led to an increase in the adoption of catalysts. Nickel-based catalyst is the most significant product in the market space on account of its high efficiency. They are used in the Ostwald process of ammonia production. North America and the Asia Pacific collectively are anticipated to be the key markets for nickel-based catalysts worldwide. The demand for nickel-based catalysts is anticipated to grow on the account of their affordability and the ability to eliminate methane from the process.

Canada, South Africa, and Russia are likely to emerge as the major manufacturing locations for fertilizer catalysts due to the availability of raw materials. These countries are marked with the presence of large volumes of precious metal deposits. The major advantage associated with these countries is the availability of raw materials. Raw material procurement cost is the major cost incurred by a large number of catalyst manufacturers. The countries are also major exporters of fertilizers globally owing to the access to raw materials and the presence of large manufacturing facilities.

Fertilizer Catalyst Market Segmentation

Grand View Research has segmented the global fertilizer catalyst market on the basis of product, process, and region:

Based on the Product Insights, the market is segmented into Iron-based, Vanadium based, Platinum-based, Rhodium based, Nickel-based, Palladium based, Ruthenium based, Zinc based, Cobalt-based, Molybdenum based, Chromium-based and Copper Chromite.

Iron-based catalysts held the largest revenue share of 32.6% in 2020. The demand for these catalysts is high in the market because they are inexpensive and easily accessible as compared to other metals, such as calcium, potassium, and aluminum, for manufacturing fertilizers.
Vanadium-based catalysts are used to produce sulfuric acid with the help of the contact process. Sulfuric acid is used in the manufacturing process of fertilizers, such as ammonium sulfate and superphosphate of lime.

Based on the Process Insights, the market is segmented into Haber-Bosch Process, Contact Process, Nitric Acid Production, Potassium Fertilizer Production and Urea Production.

Haber-Bosch accounted for the largest revenue share of 56.8% in 2020. The Haber-Bosch process involves the production of ammonia from hydrogen and nitrogen.
The majority of the nitric acidmanufactured in the world is produced by the oxidation of ammonia. The major fertilizers manufactured from nitric acid are ammonium nitrate and calcium ammonium nitrate.
Urea production is expected to witness significant growth over the forecast period. Urea is among the highest consumed nitrogen fertilizers globally. The catalyst used in the process is primarily deployed to remove carbon monoxide from the process.

Fertilizer Catalyst Regional Outlook

North America
Europe
Asia Pacific
Central and South America
Middle East & Africa (MEA)

Key Companies Profile

Partnerships and collaborations between existing industry participants are expected to have a significant impact on the future competitive scenario.

Some prominent players in the global 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
Haldor Topsoe
Quality Magnetite

Order free sample a PDF of the Fertilizer Catalyst Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Matched content

Editor’s pick