San Francisco, 5 February 2019: The Report 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.
Access Research Report of Catalyst Market@ www.grandviewresearch.com/industry-analysis/catalyst-market
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
·
Chemical Compounds
·
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
·
Chemical synthesis
·
Polymer
·
Environmental
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Access Press Release of
Catalyst Market@ www.grandviewresearch.com/press-release/catalyst-market-analysis
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment