According to a new report by Grand View Research, Inc.,
the global catalyst market size is expected to reach USD 34.1 billion by 2025,
exhibiting a 4.5% CAGR during the forecast period. Rising demand for polymers
from industries like automotive and electrical and electronics is impacting
market growth. Moreover, increasing preference for catalysts, since they reduce
environmental emissions and production costs, is driving the market.
Growing chemical industry in U.S. is
expected to significantly impact the market. The automotive industry also has a
considerable impact on market growth due to rising demand for catalysts for
controlling emissions. Increasing use of novel catalytic technologies in
catalytic converters is benefiting the automotive segment.
Increasing use of catalysts for
manufacturing of petrochemical products is trending in the market. Growing
economies is an opportunity for market players to strengthen their presence and
improve their product portfolio. Moreover, supportive government policies that
promote the growth of the automotive sector is affecting market growth.
Rising population, improvement in lifestyle
of consumers in developing economies, climate change, and shortage of natural
resources are some of the major factors encouraging market players to invest in
R&D projects. Increasing research activities is expected to bring
developments in the product, thereby impacting the market.
Access Research Report of Catalyst Market @ https://www.grandviewresearch.com/industry-analysis/catalyst-market
Further key findings from the report suggest:
· The Asia Pacific market is expected to
expand at a revenue-based CAGR of 5.4% over the forecast period owing to
developments in the chemical industry, especially in developing economies, and
exceptional characteristics of zeolite catalysts like size selectivity and
better shape
· Players in U.S. and Canada are focusing on
increasing investments in refining processes due to the emergence of tight oil
and shale gas as alternatives to traditional natural gas and crude oil
· The chemical compound segment is expected
to register a revenue-based CAGR of 4.7% by 2025 due to high demand from
end-use industries, increasing use as a catalyst for numerous applications, and
growing acceptance of organometallic compounds for the manufacture of
polyethylene and polypropylene
· Manufacturers of catalyst market are
focusing on capacity expansions, licensing agreements, and acquisitions for
strengthening their market presence and expanding their product portfolios.
Grand View Research has segmented the
global catalyst market on the basis of raw material, product, application, and
region:
Catalyst Raw Material Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
·
Chemical Compounds
o
Acids
o
Peroxides
o
Amines & Others
·
Metals
o
Precious
o
Base
·
Zeolites
·
Others
Catalyst Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
·
Heterogenous
·
Homogeneous
Catalyst Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
·
Chemical Synthesis
o
Chemical Catalysts
o
Adsorbents
o
Polyolefins
o
Others
·
Petroleum Refining
o
FCC
o
Alkylation
o
Hydrotreating
o
Hydrocracking
o
Catalytic Reforming
o
Others
·
Polymers & Petrochemicals
o
Ziegler Natta
o
Reaction Initiator
o
Chromium
o
Urethane
o
Single-Site
o
Others
·
Environmental
o
Light Duty Vehicles
o
Motorcycles
o
Heavy Duty Vehicles
o
Others
Catalyst Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
U.K.
o
Germany
o
France
o
Italy
o
Netherlands
o
Spain
o
Russia
·
Asia Pacific
o
China
o
Japan
o
India
o
South Korea
o
Australia
o
Indonesia
o
Malaysia
·
Central & South America
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
o
South Africa
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.
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