San Francisco, 07 February, Catalyst Market Analysis By Raw Material [
Zeolite, Metals (Base Metals, Precious Metals), Chemical Compounds (Peroxide,
Acid, Amine)], By Product [Heterogeneous, Homogeneous], Application [Petroleum
Refining, Chemical Synthesis, (Polyolefins, Adsorbents, Chemical Catalysts)
Petrochemicals & Polymers (Ziegler-Natta, Reaction initiator, Urethane,
Chromium, Single-site), Environmental (Light Duty Vehicles, Heavy duty
Vehicles, Motorcycles)] And Segment Forecasts To 2024
The global catalyst market is expected to reach USD
34.3 billion by 2024, according to a new report by Grand View Research, Inc.
The accelerating use of catalysts for reducing the cost of manufacturing
chemicals, petrochemicals and polymers are expected to remain a favorable
factor. Also, rising application of catalytic reforming and fluidized bed
catalytic cracking for enhancing the yield of light cut and medium cut oils may
promote the use of the product over the next eight years.
In terms of volume, chemical
synthesis is expected to witness growth at a CAGR of 3.5% from 2016 to 2024. In
September 2014, the Government of India proposed the “Draft National Chemical
Policy” which is intended for increasing the country’s global chemical output
share from 3% in 2014 to 6% by 2020. The mentioned government initiative about
the improvement of the chemical production output in India is expected to open
new avenues for growth over the next eight years.
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Report On Catalyst Market Analysis:
Further key findings from the study suggest:
·
The market for chemical
compounds as catalysts are expected to foresee volume growth at a CAGR of 4.2%
from 2016 to 2024. Rising application of amine catalyst for the production of
polyurethane foam on account of enhancing the rate of reaction between polyols
and polyurethane is expected to have a positive impact in the near future.
Moreover, increasing requirement of polyurethane (PU) foams is projected to
augment demand for catalysts over the forecast period.
·
Catalyst demand in
petrochemicals & polymers was 1,419.1 kilo tons in 2015. Rising demand for
engineering plastics including polyether ether ketone (PEEK) in automotive,
aviation, electronics and energy sectors is expected to result in fuelling
requirement of the accelerator.
·
Asia Pacific is projected to
remain the fastest-growing market, witnessing growth at a CAGR of 5.3% from
2016 to 2024. High prevalence of active pharmaceutical ingredients (API)
manufacturers in China on account of easy access to chemicals is expected to
increase use of the product over the next eight years.
·
Latin America market was valued
at USD 1.53 billion in 2015. In October 2015, Columbia-based Ecopetrol
announced plans to expand the refining capacity at its Barrancabermeja plant. The
capacity expansion will be completed by the end of 2018 and may open new
opportunities for growth over the next eight years.
·
Major market players include
Albemarle Corporation, BASF, ExxonMobil, W.R. Grace & Company, Johnson
Matthey and AkzoNobel N.V. Increasing expenditure for the development of
emission control catalyst on account of rising awareness towards environmental
protection in the automotive sector is expected to remain critical success
factor over the next eight years.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand View Research has segmented the
global catalyst market by raw material, product, application and region:
Raw Material Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
Zeolites
·
Metals
o
Base Metals
o
Precious Metals
·
Chemical Compounds
o
Peroxide
o
Acid
o
Amines & Others
·
Others
Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2013 - 2024)
·
Heterogeneous
·
Homogenous
Application Outlook (Volume,
Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
Petroleum refining
o
FCC
o
Alkylation
o
Hydrotreating
o
Hydrocracking
o
Catalytic Reforming
·
Chemical synthesis
o
Polyolefins
o
Adsorbents
o
Chemical Catalysts
o
Others
·
Polymer
o
Ziegler-Natta
o
Reaction Initiator
o
Urethane
o
Chromium
o
Single-site
o
Others
·
Environmental
o
Light duty vehicles
o
Heavy duty vehicles
o
Motorcycles
o
Others
Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Mexico
o
Canada
·
Europe
o
Germany
o
UK
o
France
o
Italy
·
Asia Pacific
o
China
o
Japan
o
South Korea
o
India
·
Latin America
o
Brazil
·
MEA
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Press Release of this Report: https://www.grandviewresearch.com/press-release/catalyst-market-analysis
About Grand
View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com/
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