New York, Sept. 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Catalyst Fertilizer Global Market Report 2022” – https://www.reportlinker.com/p06317638/?utm_source=GNW
LKAB Minerals Limited, NEChemcat Corporation, Quality Magnetite LLC, LyondellBasell Industries NV and Agricen.
The global catalytic fertilizer market is expected to grow from $2.63 billion in 2021 to $2.78 billion in 2022 at a compound annual growth rate (CAGR) of 5.6%. The catalytic fertilizer market is expected to reach $3.11 billion in 2026 at a CAGR of 2.9%.
The catalyst fertilizers market includes sales of catalyst fertilizers by entities (organizations, independent traders and partnerships) that are used to increase the reaction rate in the production of fertilizers. Fertilizer is a natural or artificial substance containing chemical elements that improve plant growth. .
The catalyst deployed in the fertilizer helps to accelerate forward and reverse reaction rates. Catalyst fertilizers make nutrients more available for plant uptake and use, helping to maximize yield potential and providing an exceptional return on investment (ROI) to the grower.
The main types of catalytic fertilizer production processes are Haber-Bosch process, contact process and others. The Haber-Bosch process of catalytic fertilizers refers to the sale of catalytic fertilizers produced by the Haber-Bosch process, which is a process of artificial nitrogen fixation and is today the main industrial process for the production of ammonia. .
The different operations include ammonia production, formaldehyde production, methanol production, syngas production and involve several groups of metals such as iron, nickel, vanadium, platinum, rhodium and others . It is used in many applications, such as nitrogen fertilizers and phosphate fertilizers.
Asia-Pacific was the largest region in the Catalyst Fertilizer Market in 2021. Regions covered in the Catalyst Fertilizer Market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
The Catalyst Fertilizer Market research report is one of a series of new reports that provide statistics on the Catalyst Fertilizer market, including global market size, regional shares, competitors holding market share Catalytic Fertilizers, detailed Catalytic Fertilizers market segments, market trends and opportunities, and any other data you may need to thrive in the Catalytic Fertilizers industry. This Catalyst Fertilizers Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growing demand for ammonia production is expected to propel the growth of the catalytic fertilizer market in the future. Ammonia is a colorless, pungent gas composed of nitrogen and hydrogen and serves as a raw material for the production of many commercially important nitrogen compounds.
Ammonia makes a huge contribution to the agricultural system through its use as a fertilizer and helps sustain food production. For example, according to the International Energy Agency, an autonomous intergovernmental organization based in France, the production of ammonia is expected to increase by nearly 40% by 2050. .
Therefore, the growing demand for ammonia production will drive the growth of catalytic fertilizers.
Strategic partnerships are the key trend gaining popularity in the catalyst fertilizer market. Major companies operating in the catalyst fertilizer sector are looking for partnerships to strengthen their position in the market.
For example, in March 2022, Casale SA, a Swiss-based chemical company, partnered with Ferkensco Management Limited, an Uzbekistan-based investment holding company, and Enter Engineering Pte Ltd, an engineering services provider based in Singapore. The agreement represents the basis for future cooperation between the three companies to support the construction of an ammonia-based fertilizer plant in Uzbekistan.
Additionally, in December 2020, Johnson Matthey, a UK-based chemical company, partnered with ThyssenKrupp AG, a Germany-based technology provider for ammonia plants globally. Through this partnership, the two companies have signed an agreement to renew their collaboration around the ammonia production process and the supply of catalysts.
In February 2021, Paradeep Phosphates Ltd, an Indian fertilizer manufacturing company, acquired the fertilizer manufacturing plant from Zuari Agro Chemicals Limited (ZACL) for $280 million. Through this acquisition, Paradeep Phosphates aimed to consolidate the bulk fertilizer business.
Zuari Agro Chemicals Limited is an Indian fertilizer manufacturing company.
The countries covered in the Catalyst Fertilizer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
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