24-April-2019: The global catalyst market size is expected to
reach USD 34.06 billion by 2025, ascending at a CAGR of 4.5%, according to a
report by Grand View Research, Inc. Rising demand for petrochemicals from
various end-use industries is expected to be a prime factor driving the market
growth. Inclusion of high-grade polymers in manufacturing commodities for
domestic as well as export oriented industry is anticipated to surge the
product demand in future.
Moreover, demand for clean and
green fuels has shifted the trend of energy generation from conventional to
clean resources. Cobalt, iron, and nickel catalysts are the key components used
for clean energy generation processes, such as the Fischer-Tropsch synthesis.
Rapidly expanding polymer and chemical manufacturing sectors is also
anticipated to play an important role in the growth of the catalysts market. In
addition, supportive regulations regarding the production and usage of
catalysts are expected to augment market growth over the next eight years.
Emission regulations are the
biggest drivers for a wide range of application sectors and the usage of
catalysts for environmental and chemical applications are anticipated to have
the highest market growth. Heterogeneous product segment led the market on
account of wide product usage in the polymer industry. It is also used in the
form of vanadium oxide for the production of sulfuric acid, which is growing on
account of increasing demand of this acid in oil refining, wastewater
processing, and chemical synthesis. This is also expected to fuel the demand
for heterogeneous catalyst in the near future.
In depth research report on Catalyst Market
Further
key findings from the study suggest:
· Environmental
was the largest application segment in the catalyst market and accounted for
29.6% of the overall volume share in 2016
· In
terms of raw materials chemical compounds segment is expected to attain the
highest market share over the forecast period
· The
petroleum refining application segment is expected to register a CAGR of 3.4%
over the forecast period
· This
application includes the use of catalyst in cracking of feedstock components
that increase the yield of high-quality products
· MEA is
expected to be the second fastest-growing regional market during the forecast
years
· Key
industry participants include BASF SE; Akzo Nobel N.V.; Clariant International
Ltd.; Zeolyst International, Inc.; and Chevron Corporation
· Key
competitive strategies adopted by these companies include capacity expansion,
geographical expansion, technology licensing, and mergers & acquisitions
· For
instance, recently, BASF started a new chemical catalysts manufacturing plant
in Caojing, China to cater to growing demand in Asia Pacific
Grand View Research has
segmented the global catalyst market on the basis of raw material, product,
application, and region:
Catalyst
Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
· Zeolite
· Metal
· Base
Metals
· Precious
metals
· Chemical
Compounds
· Peroxide
· Acid
· Amines
& Others
· Others
Catalyst
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
· Heterogeneous
· Homogeneous
Catalyst
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
· Petroleum
Refining
· FCC
· Alkylation
· Hydrotreating
· Hydrocracking
· Catalytic
Reforming
· Others
· Chemical
Synthesis
· Polyolefins
· Adsorbents
· Chemical
catalysts
· Others
· Polymer
& Petrochemicals
· Ziegler-Natta
· Reaction
Initiator
· Urethane
· Chromium
· Single-site
· Others
· Environmental
· Light
Duty Vehicles
· Heavy
Duty Vehicles
· Motorcycles
· Others
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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