North America Catalyst Fertilizers Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Production Process, Metal Group, Application, and Country

Haber-Bosch Process Segment to Dominate North America Catalyst Fertilizers Market during 2020-2027

According to a new market research study on “North America Catalyst Fertilizers Market Forecast to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Production Process, Metal Group, and Application” is expected to reach US$385.75 million by 2027 from US$490.75 million in 2019. The market is estimated to grow at a CAGR of 3.2% from 2020 to 2027. The report provides trends prevailing in the North America Catalyst Fertilizers market along with the drivers and restraints pertaining to the market growth. Benefits associated with catalyst fertilizers are the major factor driving the growth of the North America Catalyst Fertilizers market. However, issues associated with the stringent regulations related to catalyst fertilizers hinder the growth of North America Catalyst Fertilizers market.

The North America market for Catalyst Fertilizers is segmented into production process, metal group, application, and country. Based on production process, the market is segmented into haber- bosch process, contact process, and others. In 2019, the haber-bosch process segment held the largest share North America Catalyst Fertilizers market. Based on metal group, the market is bifurcated into base metal, and precious metal. The base metal segment contributed a larger share in 2019. Similarly based on application, the market is segmented into nitrogenous, phosphatic, and others. In 2019, nitrogenous segment is expected to the larger segment over the forecast period.

North America is characterized by numerous developing economics backed by high industrial presence, large population, and increasing disposable income, which majorly drive the growth of the Catalyst Fertilizers market. However, the outbreak of COVID-19 and lockdown imposed by the governments across North America is anticipated to have a huge disruption in the growth of various industries across North America. Although, US is the leading hub of manufacturing and largest raw material supplier for various industries, it is one of the worst affected countries due to the outbreak of COVID-19. The governments across North America are taking measure like travel bans, business shutdowns, and lockdown, which is expected to hamper the anticipated revenue generation and growth opportunities for coming months.

Clariant, DuPont de Nemours, Inc., Haldor Topsøe, Johnson Matthey, LKAB Minerals AB, PDIL, Quality Magnetite, QuantumSphere, Inc., Axens, and Agricen are among the leading companies in the North America Catalyst Fertilizers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in august 2020, Johnson Matthey receives funding for construction of new battery- materials plant in Poland.

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