catalyst fertilizer Market

The global catalyst fertilizers market was valued at US$ 2,423.32 million in 2019 and is projected to reach US$ 2,992.38 million by 2027; it is expected to grow at a CAGR of 2.8% from 2020 to 2027. 

Catalysts are essential materials in the industrial production. Approximately 60% of all consumer and industrial products such asfertilizer, batteries, plastics, and pharmaceuticals  are made up of catalyst. They are highly preferred in chemical processes that help in accelerating the rate of the chemical process without altering the final product. Catalyst increase output and improves process efficiency, at lower cost. Therefore, strong emphasis is given for expansion of catalyst with higher activity, reduce environmental impact and increase longevity. Based on production process, the catalyst fertilizer market is categorized into Haber-Bosch process, contact process, and others. Ammonia is one of the largest chemical prepared across the world through the Haber-Bosch process. The Haber-Bosch process is based on catalytic reactions making the conversion rate high for this process.

Based on production process, the catalyst fertilizer market is segmented into Haber-Bosch Process, Contact Process, and Others. The Haber-Bosch Process segment accounted for the largest share in market in 2019, and also expected to register the fastest CAGR during 2019–2027. The Haber process, also called the Haber–Bosch process, is an artificial nitrogen fixation process and is one of the main industrial procedures for the production of ammonia. The process converts atmospheric nitrogen to ammonia (NH3) by a reaction with hydrogen using a metal catalyst under high temperatures and pressures. Before the development of this process, ammonia (NH3) was difficult to produce on an industrial scale, with early methods such as the Birkeland–Eyde process and Frank–Caro process all being highly inefficient. Although, the Haber process is mainly utilized to produce fertilizer these days, during World War I, it provided Germany with a source of ammonia for the production of explosives, compensating for the Allied Powers' trade blockade on Chilean saltpeter. The Haber–Bosch process relies on catalysts to accelerate the hydrogenation of nitrogen. The catalysts are "heterogeneous," meaning that they are solid that interact on gaseous reagents. The catalyst typically consists of finely divided iron bound to an iron oxide carrier containing promoters, possibly including aluminum oxide, potassium oxide, calcium oxide, and magnesium oxide.

Based on geography, the global catalyst fertilizer market is segmented into North America, Europe, AsiaPacific, South America, and the Middle East and Africa. In 2019, Asia Pacific held the largest share in the global market, followed by Europe and North America.China is dominating the catalyst fertilizer market in APAC, followed by India and Japan. Demand for food products is growing rapidly in these countries, due to growing population. On the other hand due to urbanization and industrialization the arable land is declining which is forcing the farmers or crop growers to increase the consumption of fertilizers. Fertilizers have been used for a long time to increase the productivity of crops. This adequate and balanced use of fertilizer may help in feeding the growing population from the available cultivable land. Need for crop intensification and better land use efficiency have raised the demand for value-added fertilizers such as catalyst fertilizers in the APAC region.

The COVID-19 outbreak, which began in Wuhan (China) during December 2019, has spread around the globe at a fast pace. As of August 2020, the US, Russia, India, Brazil, Mexico, and South Africa are among the worst-affected countries in terms of positive cases and reported deaths. According to the WHO figures updated in August 2020, ~25,327,098 confirmed cases and ~848,255 total deaths have been reported globally. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns. Agriculture and agrochemical is one the world’s major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic. Although, China is the global manufacturing hub and is the largest raw material supplier for various industries, it is also one of the worst-affected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various types of catalyst fertilizer. The overall market collapse due to COVID-19 is also affecting the catalyst fertilizer market growth due to shutting down of factories, obstacle in supply chain, and downturn in world economy.

Clariant, DuPont de Nemours, Inc.;HaldorTopsøe; Johnson Matthey; LKAB Minerals AB; PDIL; Quality Magnetite;QuantumSphere, Inc.;Axens; and Agricenare among the players present in the global catalyst fertilizer market.
    
The overall size of the global catalyst fertilizer market has been derived using primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global catalyst fertilizer market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate and analyze the data. The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the global catalyst fertilizer market.