As cited by the research report titled ‘Global Catalyst Fertilizer Market Size study, by Fertilizer Production Process (Haber-Bosch process, Contact Process and Other Processes), Metal Group (Base Metals and Precious Metals), Fertilizer Application (Nitrogenous Fertilizer and Phosphatic Fertilizer) and Regional Forecasts 2018-2027’, available with Market Study Report, global catalyst fertilizer market was worth USD 2.3 billion in 2018 and is projected to grow with a CAGR of 2.36% over 2020-2027 to account for USD 2.5 billion by the end of forecast period.
 

Growing population and emphasis on food security coupled with decline in fertile land are driving the growth of global catalyst fertilizer market. Additionally, escalating demand for ammonia as well as hydrogen gas will further add to industry share.
 

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Citing an instance, Haldor Topsøe (Denmark) has agreed for an 11.7% stake in the Telangana (India) fertilizer plant of Ramagundam Fertilizers & Chemicals Ltd. in 2018. Likewise, Middle East & Africa are also focusing on expanding production capacity for sulphuric acid and ammonia which are used for manufacturing nitrogenous fertilizers, hence augmenting the worldwide catalyst fertilizer market outlook.
 

For the record, catalyst fertilizers are used to provide nutrients to plants and crop to help them grow at their best potential. They are also employed to address concerns like soil salinity, soil compaction and water management.
 

However, variation in prices of raw materials, and stricter environmental regulations are restraining the growth of global catalyst fertilizer market.
 

Based on fertilizer production process, the market is segmented into contact process, haber-bosch process, and others. According to metal groups, the market sphere is divided into precious metals, and base metals. Talking of fertilizer application, the industry is classified into nitrogenous fertilizer, and phosphatic fertilizer.
 

Geographically, Asia Pacific, Europe, North America, and Latin America are the key contributors to the overall catalyst fertilizer industry remuneration. Of these, Europe is slated to be a major growth hub for the market over 2020-2027, owing to evolving production facilities, and emphasis on innovation in technology related to catalyst fertilizers.
 

Whereas, Asia Pacific market is poised to showcase lucrative growth trends over the forecast period, on account of focus on increasing crop yields, and rising fertilizer production.
 

Key contenders in global catalyst fertilizer market are LKAB Minerals Limited, Haldor Topsøe, Johnson Matthey, Projects & Development India Limited, DuPont de Nemours Inc., Clariant International Ltd., OHAM Industries Pvt. Ltd., N.E. Chemcat, Quality Magnetite LLC, and QuantumSphere Inc.