As per the report published by Fior Markets ,the global catalyst fertilizers market is expected to grow from USD 2,230.5 Million in 2017 to USD 2,930.8 Million by 2025 at a CAGR of 3.5% during the forecast period from 2018-2025. Asia- Pacific is dominating the market due to the rising population in countries such as China and India, which has stimulated the demand for food products in the region. To meet this challenge, it is necessary to increase crop production, which relies on the fertilizer industry. It is also driven by the growing need to increase crop yield and rising production of fertilizers.
Global Catalyst Fertilizers Market by Fertilizer Production Process (Haber-Bosch, Contact, Other), Metal Group (Base Metals, Precious Metals), Application, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
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Leading companies in the industry include Clariant International, DowDuPont, Project & Development India Ltd., Johnson Matthey, Haldor-Topsoeamong otherswhichare offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.For instance, in December 2018, LKAB Minerals acquired Francis Flower (UK), a mineral ore processing company. The acquisition would help both the companies to strengthen their product portfolio and global reach.
The fertilizer production process segment is classified haber-bosch, contact and other. The haber-bosch segment is dominating the market and valued around USD 1,079.56 Million in 2017. Ammonia is one of the largest inorganic chemical produced manufactured through the Haber-Bosch process. This process is based on catalytic reactions, and hence, the conversion rate has been high for this process.With the evolution of the Haber-Bosch process, ammonia synthesis has increased by a manifold with the help of catalysts.Metal group segment is divided into segments such as base metals and precious metals. The base metals segment is dominating the market with the highest share 60.20% in 2017. Iron, copper, and nickel are the major base metals that exhibit efficient catalytic activity and are the majorly consumed catalysts across all industries. These metals are abundantly available in the market and are easily extracted by a majority of companies. These are less expensive as compared to precious metals, and the number of players offering these metals for catalytic action is also very high.Application segment includes nitrogenous and phosphatic. The nitrogenous segment is dominating the catalyst fertilizers market and valued around USD 1,414.13 Million in 2017.According to FAOSTAT, the nitrogenous nutrients were the largest total nutrients consumed as fertilizers across the globe.
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Increase in production of fertilizers and expansion of production facilities is one of the driving force. Also, rise in greenhouse gas emissions from ammonia plants and innovations in the catalyst industry to control emissions through selective catalytic reduction technology are two factors driving the market growth.But time taking replacement period for catalyst membranes and increased preference over organic fertilizers may hamper the growth of market. However, technological improvements may open up way for new opportunities and should drive the industry growth in coming years.
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