CHICAGO, Feb. 15, 2019 /PRNewswire/ --According to the new market research report "Catalyst Fertilizers Market by Fertilizer Production Process (Haber-Bosch Process, Contact Process), Metal Group (Base Metals, Precious Metals), Fertilizer Application (Nitrogenous, Phosphatic), and Region – Global Forecast to 2023", published by MarketsandMarkets™, the Catalyst Fertilizers Market is projected to reach USD 2.5 billion by 2023, from USD 2.3 billion in 2018, at a CAGR of 2.36% during the forecast period. The market is driven by factors such as rising fertilizer production and growing concern about emissions of greenhouse gases.
Inquiry Before Buying:
The use of base metals for fertilizer production is projected to witness high growth during the forecast period.
Iron, copper, and nickel are the major base metals that exhibit efficient catalytic activity and are the majorly consumed catalysts across all industries. These metals are abundantly available in the market and are easily extracted by a majority of companies. These are less expensive as compared to precious metals, and the number of players offering these metals for catalytic action is also very high. Thus, it is projected to grow at the highest CAGR from 2018 to 2023.
Browse in-depth TOC on "Catalyst Fertilizers Market"
74 – Tables
45 – Figures
133 – Pages
Haber-Bosch process is estimated to dominate the catalyst fertilizers market in 2018.
Nitrogenous fertilizers are one of the highly consumed nutrients across the globe while ammonia is the most common nitrogen product used as a fertilizer. With the emergence of the Haber-Bosch process, ammonia synthesis has increased by a manifold with the help of catalysts. Since ammonia is the most produced fertilizer, which is further converted to urea and ammonium phosphates, Haber-Bosch is the dominant process for ammonia fertilizer production where catalysts are an important part of the plant process design.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=225910652
Asia Pacific is estimated to dominate the market in 2018 and is projected to be the fastest-growing in the market through 2023.
With large fertilizer production in the Asia Pacific countries, the region dominated the market in 2017 and is projected to witness the fastest growth in the catalyst fertilizers market through 2023. The Asia Pacific market for catalyst fertilizers is driven by the rising need to increase crop yield and growing production of fertilizers. The growth in the production of fertilizers is mainly attributed to the increase in the consumption of fertilizers and support from the governments to increase production. The expansion of production facilities for ammonia and sulfuric acid in China and India and the growing awareness among manufacturers about the benefits of catalyst fertilizers in emission control of hazardous wastes are expected to provide more scope for market expansion. Moreover, ongoing R&D activities on better and efficient fertilizer manufacturing processes could render a scope for market growth. The government policies adopted by Asian countries toward sustainable agricultural practices and reduced GHG emissions from fertilizer industries, including support for the production of fertilizers in the form of subsidies, are major factors contributing to the growth of this market in the region.
This report includes a study of the development strategies of leading companies. The scope of this report includes a detailed study of catalyst fertilizers manufacturers such as Clariant International (Switzerland), DowDuPont (US), Project & Development India Ltd. (India), Johnson Matthey (UK), Haldor Topsoe (Denmark), LKAB Minerals (Sweden), N.E.Chemcat (Japan), QuantumSphere Inc. (US), Quality Magnetite (US), and Oham Industries (India).
Browse Adjacent Markets: Agrochemicals Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/catalyst-fertilizer-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com