According to our latest market study on "The global Catalyst Fertilizer Market to 2027 - COVID-19 Impact and Global Analysis by Production Process (Haber-Bosch Process, Contact Process, and others); Metal Group (base metal and precious metal); Application (Nitrogenous, Phosphatic, and others), and Geography,"the marketwas valued at US$ 2,423.32 million in 2019 and is expected to grow at a CAGR of 2.8% during 2020-2027 to reach US$ 2,992.38 million by 2027. The report highlightskey factors driving the market growth and prominent players along with their developmentsin the market.
The COVID-19 outbreak, which began in Wuhan (China) during December 2019, has spread around the globe at a fast pace. As of August 2020, the US, Russia, India, Brazil, Mexico and South Africa are among the worst-affected countries in terms of positive cases and reported deaths. According to the WHO figures updated in August 2020, ~25,327,098 confirmed cases and ~848,255 total deaths have been reported globally. The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns. Agriculture and agrochemical is one the world’s major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic. Although, China is the global manufacturing hub and is the largest raw material supplier for various industries, it is also one of the worst-affected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various types of catalyst fertilizers. The overall market collapse due to COVID-19 is also affecting the catalyst fertilizer market growth due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
Catalysts are essential materials in the industrial production. Approximately 60% of all consumer and industrial products such asfertilizer, 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 increases output and improves process efficiency, at lower cost. Therefore, strong emphasis is given for expansion of catalyst with higher activity, to reduce environmental impact and increase longevity.
A catalyst fertilizer is a highly demanded product to increase the productivity of the crop. The main function of the catalyst fertilizers is to proffer nutrients to crops and other plants. The catalyst fertilizers provide sustainable agricultural benefits to farmers, growers, consumers, and the environment. Catalyst fertilizers are utilized in the reforming process to enhance the yield of plants. Catalyst fertilizers make nutrients available for plant uptake and utilization, helping to optimize yield potential and providing outstanding grower ROI. It can also be used by growers seeking to extract nutrients locked in crop residues or trying to address soil compaction, soil salinity, and water management issues. Increasing nutrient availability, enhancing nutrient use efficiency, promoting better root growth and development, improving plant performance, and optimizing yield potential are among the prime benefits offered by the catalyst fertilizers.
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Catalyst fertilizers are used to grow all types of crops, but the rate of application depend on the soil fertility that is measured by the soil test. There is a rising trend in using liquid fertilizer as they are less labor extensive in comparison to the dry form of catalyst fertilizers. The liquid fertilizers are applied as an irrigation system and a starter fertilizer in rows to the crops that help in the efficient usage of plant nutrients and minimizes environmental issues. There is an increasing demand for liquid catalyst fertilizers owing to the increasing need to meet the food demand that is generated from the rapidly growing population. The need for nitrogen, potassium, and phosphorous fertilizers have incremented owing to the demand for food grains and concerns regarding the depletion of groundwater resources that favors the market for liquid catalyst fertilizers. Various steps are being raised by the European Fertilizers Manufacturing Association (EMA) for the purpose of implementing a product stewardship program that aims to enhance agricultural productivity using liquid catalyst fertilizers. Besides this, the Association of American Plant Food Control Officials (AAPFCO) has led the introduction of advanced models for crop growth enhancers in North America. It has developed standards for the inspection techniques and encourage the adoption of effective and adequate approaches towards farming that favors the market for liquid catalyst fertilizers. Moreover, the farmers in several agricultural-based countries like China and India are focusing on developing soil protection products that have suitable applications in any climatic condition; therefore, the implementation of advanced technologies that proffers and evenly nutrient supply of nitrogen, phosphate and potassium contents will propel liquid catalyst fertilizers market. Foliar feeding, which is done through leaves supply nutrients to those parts of the plants that lack the required nutrients and also to the roots that are stressed. The farmers today are learning the benefits of liquid catalyst fertilizers over dry forms, which is bolstering well the wide-scale acceptance of liquid catalyst fertilizers worldwide.
The catalyst fertilizer market based on metal group is segmented into base metal and precious metal. The base metal segment is expected to grow at fastest growth rate during the forecast period of 2019-2027. The base metal is basically a common and inexpensive metal, as opposed to a precious metal such as gold or silver. A long-time goal of alchemists was the transmutation of a base (low grade) metal into precious metal. Cobalt, iron, and nickel catalysts have been investigated in parallel with palladium catalysts for carbon-carbon bond formation, and it has been found that when supported by the appropriate ligands, nickel and cobalt can enable efficient coupling reactions allowing the formal addition of carbon-hydrogen bonds in unsaturated systems. Metals such as Ni, Mo, Co, Rh, Pt, Pd, etc., are widely utilized as a catalyst in chemical and petrochemical industries as well as fertilizer industries. They are generally supported mainly on porous materials like alumina and silica through precipitation or impregnation processes. Chelating agents are the most effective extracts that can be introduced in the soil washing fluid to enhance heavy metal extraction from contaminated soils. The main advantages of chelating agents in soil cleanup, include high efficiency of metal extraction, high thermodynamic stabilities of the metal complexes formed, good solubility of the metal complexes, and low adsorption of the chelating agents on soils, but very few workers have attempted chelating agent to extract metals from spent catalyst.
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