New York, United States , July 15, 2024 (GLOBE NEWSWIRE) -- The Global Catalyst Fertilizers Market Size is to Grow from USD 2.48 Billion in 2023 to USD 3.29 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 2.87% during the projected period.
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Catalyst fertilizers are types of fertilizer that contain extra compounds that function as accelerators, increasing the efficiency of plant nutrient uptake. These compounds work by speeding up the chemical reactions between plant roots and fertilizer components. Catalyst fertilizers frequently contain a combination of micronutrients such as zinc, copper, and manganese, as well as enzymes and amino acids that serve as catalysts for intake of nutrients and assimilation by the plant. Additional chemicals can improve plant growth, productivity, and stress resistance. Catalyst fertilizers are commonly used in agriculture and horticulture to boost crop yields, minimize fertilizer requirements, and improve nutrient usage efficiency. Additionally, the significant growth of the world's population, along with an ongoing increase in individual disposable income, has increased market demand and the need for agricultural activities. To meet market demand, crops must be produced quickly while maintaining quality, and catalyst fertilizers aid do this. Governments in several nations offer subsidies and other incentives to encourage the use of sustainable agricultural methods. This assistance has increased demand for catalyst fertilizers, especially in emerging markets where agriculture is an important economic sector. One of the most significant issues that this business has is the continual need for research and development to improve the product.
Browse key industry insights spread across 231 pages with 120 Market data tables and figures & charts from the report on the "Global Catalyst Fertilizers Market Size, Share, and COVID-19 Impact Analysis, By Process (Haber-Bosch Process and Contact Process), By Application (Nitrogenous and Phosphatic), By Metal Group (Base Metals and Precious Metals), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The haber-bosch process is anticipated to hold a significant market share in the global catalyst fertilizers market during the projected timeframe
Based on the process, the global catalyst fertilizers market is divided into haber-bosch process and contact process. Among these, the haber-bosch process is expected to hold a significant market share in the global catalyst fertilizers market during the projected timeframe. Ammonia is created by the Haber-Bosch process from nitrogen and hydrogen. Ammonia is one of the essential fundamental components used in the creation of fertilizers.
The nitrogenous segment is anticipated to hold the largest share of the global catalyst fertilizers market during the projected timeframe.
Based on the application, the global catalyst fertilizers market is divided into nitrogenous and phosphatic. Among these, the nitrogenous segment is anticipated to hold the largest share of the global catalyst fertilizers market during the projected timeframe. Crops such as cereals, grains, vegetables, and fruits need an excessive amount of nitrogen for proper growth.
The base metals segment is anticipated to grow at the fastest CAGR in the global catalyst fertilizers market during the projected timeframe.
Based on the metal group, the global catalyst fertilizers market is divided into base metals and precious metals. Among these, the base metals segment is anticipated to grow at the fastest CAGR in the global catalyst fertilizers market during the projected timeframe. Base elements are less expensive and easier to acquire than other metals used in fertilizer manufacture, such as calcium, potassium, and aluminum.
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Asia Pacific is expected to hold the largest revenue share of the global catalyst fertilizers over the forecast period.
Asia Pacific is expected to hold the largest revenue share of the global catalyst fertilizers over the forecast period. China and India are the two key economies in the Asia Pacific area that are driving market expansion due to their large populations and changing lifestyles. Large urea and ammonia manufacturing facilities in China, along with significant capital investments in countries as India, Vietnam, Indonesia, and Thailand, are anticipated to propel the market for fertilizer catalysts. Strict regulations on the fertilizer business are one notable trend in the sector, which is a result of concerns about pollution. The growing need for greater agricultural yields and fertilizer production is driving the catalyst fertilizers market in Asia Pacific. The primary drivers of the growth in fertilizer production are rising fertilizer use and government assistance for higher output.
North America is anticipated to grow at the fastest pace in the global catalyst fertilizers during the projected timeframe. It is anticipated that in the upcoming years, there will be an even greater need for catalytic fertilizers due to the growing requirement for green tires. The market for fertilizer catalysts in Latin America is anticipated to grow as a result of significant investments in the economies. The population is growing, and so is the demand for food. As the world's population rises, so does the demand for food products. In many areas and nations, economic development is also causing changes in the diets of consumers. Demand for high-performance fertilizer catalysts is being driven by expanding fertilizer plant capacity, and this trend is anticipated to persist for the duration of the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global catalyst fertilizers include Clariant International Ltd., Johnson Matthey, Haldor Topsoe India Private Ltd., QuantumSphere Inc., Chempack, China Petroleum & Chemical Corporation, ThyssenKrupp AG, BASF SE, Casale SA, Mmcité, Project & Development India Ltd., LKAB Minerals Limited, N.E.Chemcat Corporation, and Quality Magnetite and others key companies.
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Recent Developments
- In April 2023, the official opening of Clariant's new CATOFIN® catalyst production in China has been announced. The plant specializes in producing CATOFIN, a PDH catalyst that is utilized in the synthesis of propylene and other olefins as part of the olefin manufacturing process.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the catalyst fertilizers market based on the below-mentioned segments:
Global Catalyst Fertilizers Market, By Process
- Haber-Bosch Process
- Contact Process
Global Catalyst Fertilizers Market, By Application
- Nitrogenous
- Phosphatic
Global Catalyst Fertilizers Market, By Metal Group
- Base Metals
- Precious Metals
Military Rotorcraft Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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