Catalyst Fertilizer Global Market Report 2022| MENAFN.COM

Tuesday, 27 September 2022 07:00 GMT

Catalyst Fertilizer Global Market Report 2022

(MENAFN- GlobeNewsWire - Nasdaq)

New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- announces the release of the report 'Catalyst Fertilizer Global Market Report 2022' -
, LKAB Minerals Limited, N.E.Chemcat Corporation, Quality Magnetite LLC, LyondellBasell Industries N.V., and Agricen.
The global catalyst 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 catalyst fertilizer market is expected to grow to $3.11 billion in 2026 at a CAGR of 2.9%.
The catalyst fertilizer market consists of sales of catalyst fertilizers by entities (organizations, sole traders, and partnerships) that are used to increase the rate of reaction in fertilizer production.Fertilizer is a natural or artificial substance containing chemical elements that enhance the growth of plants.
The catalyst deployed in the fertilizer helps to speed up the rates of forward and backward reaction. Catalyst fertilizers make nutrients more available for plant uptake and utilization, helping to optimize yield potential and providing outstanding grower return on investment (ROI).
The main types of production processes in catalyst fertilizers are the Haber-Bosch process, the contact process, and others.The Haber-Bosch process of catalyst fertilizers refers to the sale of catalyst fertilizers that are produced by the Haber-Bosch process, which is an artificial nitrogen fixation process and is the main industrial procedure for the production of ammonia today.
The various operations include ammonia production, formaldehyde production, methanol production, syngas production, and involve several metal groups such as iron, nickel, vanadium, platinum, rhodium, and others. It is used in numerous applications, such as nitrogenous fertilizers and phosphatic fertilizers.
Asia Pacific was the largest region in the catalyst fertilizers market in 2021. The regions covered in the catalyst fertilizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The catalyst fertilizers market research report is one of a series of new reports that provides catalyst fertilizer market statistics, including global market size, regional shares, competitors with a catalyst fertilizer market share, detailed catalyst fertilizer market segments, market trends and opportunities, and any further data you may need to thrive in the catalyst fertilizer industry. This catalyst fertilizer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing demand for ammonia production is expected to propel the growth of the catalyst fertilizer market going forward.Ammonia is a colorless, pungent gas composed of nitrogen and hydrogen and serves as a starting material for the production of many commercially important nitrogen compounds.
Ammonia makes a huge contribution to the agricultural system through its use as fertilizer and helps sustain food production.For instance, according to the International Energy Agency, a France-based autonomous intergovernmental organization, ammonia production is expected to increase by nearly 40% by 2050.
Therefore, increasing demand for ammonia production will drive the growth of catalyst 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 instance, in March 2022, Casale SA, a Switzerland-based chemicals company, partnered with Ferkensco Management Limited, an Uzbekistan-based investment holding company, and Enter Engineering Pte Ltd, a Singapore-based engineering services provider.The agreement represents the foundation for future cooperation between the three companies to support the construction of an ammonia-based fertilizer plant in Uzbekistan.
Furthermore, in December 2020, Johnson Matthey, a UK-based chemicals company, partnered with ThyssenKrupp AG, a Germany-based technology provider for world-scale ammonia plants. Through this partnership, both companies signed an agreement to renew their collaboration around the ammonia production process and catalyst supply.
In February 2021, Paradeep Phosphates Ltd, an Indian fertilizer manufacturing company acquired Zuari Agro Chemicals Limited's (ZACL) fertilizer manufacturing plant for $280 million.Through this acquisition, Paradeep Phosphates aimed at consolidating the bulk fertilizer business.
Zuari Agro Chemicals Limited is an Indian fertilizers manufacturing company.
The countries covered in the catalyst fertilizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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