SAN FRANCISCO, March 9, 2021 /PRNewswire/ -- 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.
Key suggestions from the report:
- The nickel-based product segment is expected to expand at the fastest CAGR of 2.2%, in terms of volume, from 2021 to 2027 due to its application as a substitute for iron-based products and the increasing demand for fertilizers
- The rhodium-based product segment is expected to witness considerable growth in the years to come owing to the growing demand for rhodium-based catalysts in hydrogenation reactions
- The urea production process segment is expected to witness significant growth over the forecast period owing to the growing demand for urea-based fertilizers
- In the Asia Pacific region, India is anticipated to exhibit the fastest growth rate of 2.6%, in terms of volume, from 2021 to 2027 owing to the rising demand for nitrogenous fertilizers
- In October 2019, Albemarle Corporation and ExxonMobil together created a platform called "Galexia" for the refining industry to provide a transformative hydroprocessing suite of catalysts and service solutions. This platform is aimed at enhancing the company's business operations in order to cater to the customers' demand in an effective manner
Read 121 page research report with ToC on "Fertilizer Catalyst Market Size, Share & Trends Analysis Report By Product (Iron Based, Nickel Based), By Process (Haber-Bosch Process, Urea Production), By Region, And Segment Forecasts, 2021 - 2027" at: https://www.grandviewresearch.com/industry-analysis/fertilizer-catalyst-market
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.
Grand View Research has segmented the global fertilizer catalyst market on the basis of product, process, and region:
- Fertilizer Catalyst Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Iron-based
- Vanadium based
- Platinum-based
- Rhodium based
- Nickel-based
- Palladium based
- Ruthenium based
- Zinc based
- Cobalt-based
- Molybdenum based
- Chromium-based
- Copper Chromite
- Fertilizer Catalyst Process Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Haber-Bosch Process
- Contact Process
- Nitric Acid Production
- Potassium Fertilizer Production
- Urea Production
- Fertilizer Catalyst Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Asia Pacific
- Japan
- China
- India
- South Korea
- Central & South America
- Brazil
- Argentina
- MEA
- South Africa
- Saudi Arabia
List of Key Players of Fertilizer Catalyst Market
- 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
Find more research reports on Agrochemicals & Fertilizers Industry, by Grand View Research:
- Nitrogenous Fertilizer Market - The growing popularity of commercial agriculture across the globe is expected to drive the market for nitrogenous fertilizers over the forecast period. The agriculture industry has been witnessing a rise in the demand for nitrogenous fertilizers to provide proper nutrition to the food crops, thereby increasing their yield.
- Chromium Market - Increasing demand from the stainless steel industry for various end-use markets such as automotive, aerospace, defense, marine, building and construction, and electronics is expected to be the key growth factor. In addition, significant demand from Asia Pacific is anticipated to fuel the market over the forecast period.
- Ammonium Sulfate Market - The growing consumption of nitrogen-based fertilizers to increase crop yield on account of the rising demand for food is likely to drive the product demand. The key factor driving the global market is the consumption of the product as a soil fertilizer as the chemical contains nitrogen and sulfur. It is mainly used for reducing the acidity in alkaline soils as they have a high pH level.
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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.
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