Fertilizer Catalyst Market: Iron-Based Catalysts Held The Largest Revenue Share

 Fertilizer Catalyst Industry Overview

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.

 

Fertilizer Catalyst Market Segmentation

Grand View Research has segmented the global fertilizer catalyst market on the basis of product, process, and region:

Based on the Product Insights, the market is segmented into Iron-based, Vanadium based, Platinum-based, Rhodium based, Nickel-based, Palladium based, Ruthenium based, Zinc based, Cobalt-based, Molybdenum based, Chromium-based, and Copper Chromite.

  • Haber-Bosch accounted for the largest revenue share of 56.8% in 2020. The Haber-Bosch process involves the production of ammonia from hydrogen and nitrogen. Ammonia is one of the important raw materials used in the manufacturing of fertilizers.

 

  • The majority of the nitric acidmanufactured in the world is produced by the oxidation of ammonia. The major fertilizers manufactured from nitric acid are ammonium nitrate and calcium ammonium nitrate. The production growth rate of ammonium nitrate and calcium ammonium nitrate has been between 1-2% for the last three years.

 

Based on the Process Insights, the market is segmented into Haber-Bosch Process, Contact Process, Nitric Acid Production, Potassium Fertilizer Production, and Urea Production.

  • Iron-based catalysts held the largest revenue share of 32.6% in 2020. The demand for these catalysts is high in the market because they are inexpensive and easily accessible as compared to other metals, such as calcium, potassium, and aluminum, for manufacturing fertilizers.

 

  • Vanadium-based catalysts are used to produce sulfuric acid with the help of the contact process. Sulfuric acid is used in the manufacturing process of fertilizers, such as ammonium sulfate and superphosphate of lime. The high conversion rates and the ability to reduce sulfur dioxide (SO2) gas emissions in the environment are driving the adoption of these catalysts.

 

Fertilizer Catalyst Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

Partnerships and collaborations, along with new product development initiatives, are the major factors influencing the competitive scenario in the market. Service agreements with distributors or local companies are on the rise, as manufacturers look to penetrate emerging economies. New product development is important for any catalyst manufacturer as it provides an opportunity to escape the supply-demand cycle. Manufacturers are making significant investments in research and development to develop products that suit the rising sustainability and material loss problems. Some prominent players in the global fertilizer catalyst market include:

  • Clariant AG
  • Johnson Matthey
  • Unicat Catalyst Technologies
  • Albemarle Corporation
  • LKAB Minerals AB
  • Quality Magnetite

 

Order a free sample PDF of the Fertilizer Catalyst Market Intelligence Study, published by Grand View Research.

 

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.

 

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

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