Global Catalyst Fertilizer Market Size study, by Type by Application and Regional Forecasts 2027
The Global Catalyst Fertilizers Market was valued at US$ 2,423.32 million in 2019 and is projected to reach US$ 2,992.38 million by 2027; it is expected to grow at a CAGR of 2.8% from 2020 to 2027.
Catalysts are essential materials in the industrial production. Approximately 60% of all consumer and industrial products such as fertilizer, batteries, plastics, and pharmaceuticals are made up of catalyst. They are highly preferred in chemical processes that help in accelerating the rate of the chemical process without altering the final product. Catalyst increase output and improves process efficiency, at lower cost. Therefore, strong emphasis is given for expansion of catalyst with higher activity, reduce environmental impact and increase longevity. Based on production process, the catalyst fertilizer market is categorized into Haber-Bosch process, contact process, and others. Ammonia is one of the largest chemical prepared across the world through the Haber-Bosch process. The Haber-Bosch process is based on catalytic reactions making the conversion rate high for this process.
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Based on production process, the catalyst fertilizer market is segmented into Haber-Bosch Process, Contact Process, and Others. The Haber-Bosch Process segment accounted for the largest share in market in 2019, and also expected to register the fastest CAGR during 2019-2027. The Haber process, also called the Haber-Bosch process, is an artificial nitrogen fixation process and is one of the main industrial procedures for the production of ammonia. The process converts atmospheric nitrogen to ammonia (NH3) by a reaction with hydrogen using a metal catalyst under high temperatures and pressures. Before the development of this process, ammonia (NH3) was difficult to produce on an industrial scale, with early methods such as the Birkeland-Eyde process and Frank-Caro process all being highly inefficient. Although, the Haber process is mainly utilized to produce fertilizer these days, during World War I, it provided Germany with a source of ammonia for the production of explosives, compensating for the Allied Powers' trade blockade on Chilean saltpeter. The Haber-Bosch process relies on catalysts to accelerate the hydrogenation of nitrogen. The catalysts are "heterogeneous," meaning that they are solid that interact on gaseous reagents. The catalyst typically consists of finely divided iron bound to an iron oxide carrier containing promoters, possibly including aluminum oxide, potassium oxide, calcium oxide, and magnesium oxide.
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Last Update : Sep 13, 2020
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