Catalyst Fertilizers Market

Global Catalyst Fertilizers Market Size (2024 to 2029)

The global catalyst fertilizers market is expected to be valued at USD 2.80 million in 2024 and reach USD 3.28 million by 2029, growing at a CAGR of 3.21% from 2024 to 2029.

Fertilizer is defined as any material, natural or artificial, that is applied to soil or plant tissue to provide one or more plant nutrients that are important for plant growth. Catalysts are essential materials for industrial production. It is highly preferred in chemical processes, as it helps speed up the chemical process without changing the final product. Catalyst fertilizers increase production and improve process efficiency at lower cost. Therefore, the focus is on expanding highly active catalysts to reduce environmental impact and increase service life. In the chemical industry, catalysts are positioned to make the desired reaction as close as possible to the chosen equilibrium point in the shortest time possible for a reversible type of reaction. The speed of the reactions back and forth so that they reach equilibrium faster, do not participate in chemical reactions, and remain unchanged. Catalytic fertilizers are necessary products to increase the productivity of crops. Therefore, many manufacturers are hard at work. The catalytic fertilizer market is supposed to grow exponentially due to recent developments in the industry.

Global Catalyst Fertilizers Market Drivers:

The growth of the agricultural industry has led to a higher demand for fertilizers, contributing to a higher production of catalytic fertilizers. The expansion of the agricultural industry is a major factor driving the growth of the catalytic fertilizer market. Additionally, the development of selective catalytic reduction technology has significantly reduced greenhouse gas emissions. Growing awareness of farmers about improving crop yields has also contributed to the growth of the global market for catalytic fertilizers. This has increased the consumer base and is expected to generate significant growth in the global catalytic fertilizer market. Also, the need for crop production has increased due to population growth in certain regions. The catalyst fertilizers market is mainly driven by the growth of fertilizer production and the expansion of production facilities in Asia.

Additionally, as greenhouse gas emissions from ammonia plants increase, innovation in the catalytic industry to control emissions through selective catalytic reduction technology is foreseen to drive the catalyst fertilizers market growth. Optimal crop growth is highly dependent on the proper use of fertilizers. This has contributed significantly to the expansion of the catalytic fertilizer business. In addition to this, the catalyst fertilizers market has exploded with technological advancements and the increase in ammonia plant installations around the world. The growing need for catalysts is being witnessed in the fertilizer industry. Catalyst fertilizers are various types of metal oxides that are used in the fertilizer industry to speed up reactions. Catalyst fertilizers are used primarily during ammonia production. The activity of the fertilizer catalyst determines the yield and the conversion of the raw material. The increasing adoption of catalytic fertilizers is stimulating the market due to various regulations imposed by the government to prevent contamination.

Additionally, government subsidies to encourage the use of catalytic fertilizers further promoted the catalyst fertilizers market. Population growth and increased disposable income have led to increased demand for fertilizers around the world. People's eating habits are also changing with the economic development that is taking place in many countries. Population growth and declining fertile land are also accelerating the growth of the fertilizer industry, and the growth of this fertilizer industry leads to an increase in demand for ammonia, which in turn is driving the growth of the industry for catalyst fertilizers. The demand for hydrogen gas and other chemicals has increased significantly, driving the growth of the catalyst fertilizers market. Strong growth in the world economy and a growing need for food are expected to increase the demand for catalyst fertilizers during the foreseen period. Increased capacity at fertilizer plants is further increasing demand for high-performance catalyst fertilizers that is expected to continue throughout the outlook period. However, the government is taking the initiative to promote environmental awareness in remote areas and spread the benefits of catalytic fertilizers. This is estimated to bring significant growth in the future catalyst fertilizers market.

Global Catalyst Fertilizers Market Restraints:

Lack of awareness and economics in developing countries is very likely to hamper the global catalyst fertilizers market. In addition, long periods of replacement of catalysts can cause shortages in the market. One of the main challenges to this market is the increasing demand for continuous research and development for product improvement. Also, environmental regulations are becoming stricter day by day, which could act as a deterrent to the fertilizer catalyst market during the forecast period. Fluctuations in commodity prices in the fertilizer industry are expected to affect the catalyst fertilizers market during the foreseen period.

Impact of COVID-19 on Catalyst Fertilizers Market:

The strict lockdown conditions imposed as a part of controlling the transmission of coronavirus have resulted in the temporary halt of farming activities, resulting in decreased sales and revenue in the catalyst fertilizers market. But the business is supposed to bounce back once the vaccination for COVID-19 is successfully developed.

REPORT COVERAGE:

This research report on the global catalyst fertilizer market is segmented and sub-segmented into the following categories.

Global Catalyst Fertilizers Market – By Production Process:

• Contact Process
• Haber-Bosch Process
• Others

The catalytic fertilizer market is segmented into the Contact Process, the Haber-Bosch Process, and Others. Of these, the Haber-Bosch Process occupied the market share in 2020 and is expected to record the fastest CAGR in 2022 - 2027. The Haber process is an artificial nitrogen fixation process and is one of the main industrial processes for the production of ammonia.

Global Catalyst Fertilizers Market – By Metal Group:

• Precious Metal
• Non-Metal

The catalytic fertilizer market is segmented into precious metals and non-metals. The non-metals segment held a higher market share in 2020 and is supposed to record the highest CAGR in 2022 - 2027.

Global Catalyst Fertilizers Market - By Application:  

• Phosphate
• Nitrogen etc.

The market for catalytic fertilizers has been segmented into phosphate, nitrogen, etc. Nitrogen dust had the largest share of the global catalytic fertilizer market in 2020. On the other hand, the phosphate segment is determined to record the highest CAGR in 2022 - 2027. The nitrogen fertilizer industry is mainly focused on the production of ammonium nitrate, synthetic ammonia, nitric acid, and urea.

Global Catalyst Fertilizers Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

The catalyst fertilizers market is foreseen to be dominated by Asia-Pacific, where China leads the market in terms of production and consumption. India is also predicted to see healthy growth in terms of the demand for catalyst fertilizers due to the rapid increase in demand for fertilizers driven by population growth and increased demand for food. Together, North America and Europe are anticipated to occupy a significant share of the catalyst fertilizers market, and the growing demand for green tires is expected to increase the demand for catalyst fertilizers further in the coming years. Major investments and the economic recovery in Brazil and Argentina are likely to boost the Latin American market for fertilizer catalysts. The Middle East and Africa will see a modest increase in demand for catalyst fertilizers during the envisioned period.

KEY MARKET PLAYERS:

Major catalyst fertilizers market players include Project & Development India Ltd., N.E. Chemcat, Johnson Matthey, Oham Industries, LKAB Minerals, DowDuPont, Quality Magnetite, Clariant International, QuantumSphere Inc., and Haldor-Topsoe. Some of the market players dominate the global catalyst fertilizers market.