According to the research report titled ‘Global Fertilizer Catalyst Market Size study, by Product (Iron Based, Nickel Based, Zinc based and others), By Process (Haber-Bosch Process, Urea Production and others) and Regional Forecasts 2021-2027’, available with Market Study Report, global fertilizer catalyst market size was worth USD 2.68 billion in 2020 and is expected to record a CAGR of 2.29% over 2021-2027, subsequently reaching USD 3.14 billion by the end of the assessment period.
 

Beneficial features of the product such as process optimization and eco-friendliness, along with growing food and crop production are the key factors driving global fertilizer catalyst market growth.
 

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Notably, catalysts are important materials in industrial production as they speed up chemical reactions without affecting the final product. The primary purpose of catalyst fertilizers is to reduce machine downtime by accelerating the fertilizer production process. They help decrease greenhouse gas emissions while doing so, which makes them environmentally friendly compounds. They also increase the output while lowering overall costs.
 

Governments across the globe are also encouraging use of such fertilizers by implementing rules and regulations that encourage the adoption of environmentally friendly procedures, which is further augmenting worldwide fertilizer catalyst industry share. As per the UN's Food and Agriculture Organization, total primary crop production increased by about 50% between 2000 and 2018, reaching 9.1 billion tons in 2018, up from 2.9 billion tons in 2000. The total amount of fertilizer used in 2018 reached 53 million tons, indicating a 40% increase from 2000. Thus, mounting demand for increasing process efficiencies and reducing harmful gas is anticipated to add to the industry progression.
 

On the downside, issue of disposal after the use of toxic catalyst is likely to hamper the remuneration scope of the industry.
 

Speaking of regional terrain, Latin America, North America, Asia Pacific, and Europe are the leading contributors to the overall market development. Of these, North America currently leads global fertilizer catalyst market share, creditable to rising per capita income and eco-friendly practices followed by fertilizer manufactures in the region.
 

Meanwhile, Asia Pacific industry is projected to record considerable growth over 2021-2027, attributable to surging demand for fertilizers and growing production of crops. Further, rising disposable income and increasing cognizance regarding environmentally friendly practices are also contributing to the regional market growth.  
 

Major contenders in global fertilizer catalyst market sphere are Quality Magnetite LLC, Haldor Topsoe A/S, Johnson Matthey, Clariant AG, Unicat Catalyst Technologies Inc., Albemarle Corporation, LKAB Minerals AB, BASF SE, Thyssenkrupp AG, and Sud-Chemie India Pvt. Ltd.