Major players in the catalyst fertilizers market are 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, Quality Magnetite LLC, LyondellBasell Industries N.V., and Agricen.
The global catalyst fertilizer market grew from $2.8 billion in 2022 to $2.92 billion in 2023 at a compound annual growth rate (CAGR) of 4.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The catalyst fertilizer market is expected to grow to $3.36 billion in 2027 at a CAGR of 3.6%.
The catalyst fertilizer market consists of sales of palladium-based and vanadium-based catalyst fertilizer.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The catalyst fertilizers are used to increase the rate of reaction in fertilizer production.Fertilizer is a natural or artificial substance containing chemical elements that enhance the growth of plants.
The catalyst deployed in the fertilizer helps to speed up the rates of forward and backward reaction. Catalyst fertilizers make nutrients more available for plant uptake and utilization, helping to optimize yield potential and providing outstanding grower return on investment (ROI).
Asia-Pacific was the largest region in the catalyst fertilizers market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the catalyst fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of production processes in catalyst fertilizers are the Haber-Bosch process, the contact process, and others.The Haber-Bosch process of catalyst fertilizers refers to the sale of catalyst fertilizers that are produced by the Haber-Bosch process, which is an artificial nitrogen fixation process and is the main industrial procedure for the production of ammonia today.
The various operations include ammonia production, formaldehyde production, methanol production, syngas production, and involve several metal groups such as iron, nickel, vanadium, platinum, rhodium, and others. It is used in numerous applications, such as nitrogenous fertilizers and phosphatic fertilizers.
The increasing demand for ammonia production is expected to propel the growth of the catalyst fertilizer market going forward.Ammonia is a colorless, pungent gas composed of nitrogen and hydrogen and serves as a starting material for the production of many commercially important nitrogen compounds.
Ammonia makes a huge contribution to the agricultural system through its use as fertilizer and helps sustain food production.For instance, according to the International Energy Agency, a France-based autonomous intergovernmental organization, ammonia production is expected to increase by nearly 40% by 2050.
Therefore, increasing demand for ammonia production will drive the growth of catalyst fertilizers.
Strategic partnerships are the key trend gaining popularity in the catalyst fertilizer market.Major companies operating in the catalyst fertilizer sector are looking for partnerships to strengthen their position in the market.
For instance, in March 2022, Casale SA, a Switzerland-based chemicals company, partnered with Ferkensco Management Limited, an Uzbekistan-based investment holding company, and Enter Engineering Pte Ltd., a Singapore-based engineering services provider. The agreement represents the foundation for future cooperation between the three companies to support the construction of an ammonia-based fertilizer plant in Uzbekistan. Furthermore, in December 2020, Johnson Matthey, a UK-based chemicals company, partnered with ThyssenKrupp AG, a Germany-based technology provider for world-scale ammonia plants. Through this partnership, both companies signed an agreement to renew their collaboration around the ammonia production process and catalyst supply.
In February 2021, Paradeep Phosphates Ltd., an Indian fertilizer manufacturing company acquired Zuari Agro Chemicals Limited’s (ZACL) fertilizer manufacturing plant for $280 million. Through this acquisition, Paradeep Phosphates aimed at consolidating the bulk fertilizer business. Zuari Agro Chemicals Limited is an Indian fertilizers manufacturing company.
The countries covered in the catalyst fertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The catalyst fertilizers market research report is one of a series of new reports that provides catalyst fertilizer market statistics, including global market size, regional shares, competitors with a catalyst fertilizer market share, detailed catalyst fertilizer market segments, market trends and opportunities, and any further data you may need to thrive in the catalyst fertilizer industry. This catalyst fertilizer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.