Fertilizer Catalyst Market Size Worth $3.3 Billion By 2027 | CAGR: 2.4%
Read 121 page research report with ToC on "Fertilizer Catalyst Market Size, Share & Trends Analysis Report By Product (Iron Based, Nickel Based), By Process (Haber-Bosch Process, Urea Production), By Region, And Segment Forecasts, 2021 - 2027" at: https://www.grandviewresearch.com/industry-analysis/fertilizer-catalyst-market
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.
Grand View Research has segmented the global fertilizer catalyst market on the basis of product, process, and region:
List of Key Players of Fertilizer Catalyst Market
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