The Catalyst Fertilizers Market is projected to reach USD 2.5 billion by 2023, from USD 2.3 billion in 2018, at a CAGR of 2.36% during the forecast period. The market is driven by factors such as rising fertilizer production and growing concern about emissions of greenhouse gases.
Asia Pacific is projected to witness the highest growth in the catalyst fertilizers market during the forecast period.
With the growing population in countries such as China and India, the demand for food products continues to grow each year in the region. To meet this challenge, it is necessary to increase crop production, which relies on the fertilizer industry. The Asia Pacific market for catalyst fertilizers is driven by the rising need to increase crop yield and growing production of fertilizers. The growth in the production of fertilizers is mainly due to the increase in the consumption of fertilizers and support from the governments to increase the production.
The growth of the Indian catalyst fertilizers market is driven by new installments and upgradation of ammonia plants, with respect to natural gas feedstock, and government support for fertilizer production through subsidies.
This report includes a study of the development strategies of leading companies. The scope of this report includes a detailed study of catalyst fertilizers manufacturers such as Clariant International (Switzerland), DowDuPont (US), Project & Development India Ltd. (India), Johnson Matthey (UK), Haldor Topsoe (Denmark), LKAB Minerals (Sweden), N.E.Chemcat (Japan), QuantumSphere Inc. (US), Quality Magnetite (US), and Oham Industries (India).