Fertilizer Catalyst Market Growth & Trends
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.
Browse full report with Table of Content (PDF with All Related Graph and Chart)
@: https://www.grandviewresearch.com/industry-analysis/fertilizer-catalyst-market
Fertilizer Catalyst Market Report Highlights
For Requesting a Sample Copy of This Report, Please Visit @https://www.grandviewresearch.com/industry-analysis/fertilizer-catalyst-market/request/rs1?
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)
Fertilizer Catalyst Process Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
Fertilizer Catalyst Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
List of Key Players of Fertilizer Catalyst Market
Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/451259/ibb
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1888202951Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United StatesCity: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/fertilizer-catalyst-market