According to an Allied Market Research report on the fertilizer catalyst market, the industry is expected to grow despite the rise in global inflation, trade, and fluctuating energy prices, which are directly impacting the cost of production.  

Fertilizer producers have been facing rising costs, leading to fluctuations in production and demand for catalysts, and tariffs on major fertilizer-exporting countries and trade restrictions have exacerbated the financial strain. 

However, the report shows that regional policies promoting self-sufficiency in fertilizer production, particularly in countries like India and China, have led to increased investments in domestic catalyst manufacturing. 

There's been a surge in the fertilizer catalyst market in the Asia-Pacific region, which accounted for more than half of the global market in 2023 and is expected to maintain its dominance during the forecast period. 

According to the report, "China, India, and Indonesia strive to enhance food production to meet the needs of their growing populations that drive the use of fertilizers." To do that, farmers are relying on ammonia-based fertilizers to improve soil fertility, which means there's an increase in the need for efficient ammonia-optimizing catalysts. 

China is the largest producer and consumer of fertilizers globally, the report shows, driven by its vast agricultural sector and government initiatives promoting food security.

India's fertilizer industry is expanding rapidly due to the strong government subsidies under the Nutrient-Based Subsidy (NBS) Scheme and increased fertilizer consumption due to the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) initiative. Australia's fertilizer industry is shifting towards sustainable agricultural practices, with a focus on reducing carbon emissions and improving soil health.