Fertilizer Catalyst Market: Industry Demand, Analysis and Future Trends 2027

[sara James]

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.

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.

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

Related Press Release@ Fertilizer Catalyst Market Report

Fertilizer Catalyst Market Report Highlights

• 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

Fertilizer Catalyst Market Report Scope

Report Attribute	Details
Market size value in 2021	USD 2.9 billion
Revenue forecast in 2027	USD 3.3 billion
Growth Rate	CAGR of 2.4% from 2021 to 2027 (Revenue-based)
Market demand in 2021	483.16 kilotons
Volume forecast in 2027	540.90 kilotons
Growth Rate	CAGR of 1.8% from 2021 to 2027 (Volume-based)
Base year for estimation	2020
Historical data	2016 - 2019
Forecast period	2021 - 2027

 

Fertilizer Catalyst Market Segmentation

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
• • Germany
  • U.K.
  • France
  • Spain
  • Italy
• Asia Pacific
• • China
  • India
  • Japan
  • South Korea
• Central & South America
• • Brazil
  • Argentina
• Middle East & Africa
• • Saudi Arabia
  • South Africa