Global Industrial Catalyst Market is valued at USD 18.2 Billion in 2018 and is expected to reach USD 24.44 Billion by 2025 with a CAGR of 4.3% over the forecast period.
Catalysts are used to speed up the reactions by providing an alternative pathway for the making and breaking of bonds. Key to this alternative pathway is lower activation energy than that is required for the uncatalysed reaction. Catalysts are definite for one particular reaction and this is mostly so for enzymes which catalyze biological reactions. The success of the chemical industry is in large part merit of the discovery and development of catalysts, and industrial catalysis is essential for most modern, energy efficient and cost means for the production of a broad range of pharmaceuticals, petroleum refining, chemical products and for environmental protection.
Global Industrial Catalyst Market is segmented on the basis of type, application and region & country level. Based on type, the industrial catalyst market is divided into polyolefin catalyst, supported metal catalyst, zeolite catalyst and other. Based on application, the industrial catalyst market is segmented into petroleum refining, chemical synthesis, petrochemicals and others.
The regions covered in this Industrial Catalyst Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of industrial catalyst market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key players of the Industrial Catalyst Marketare BASF, Johnson Matthey, Clariant, UOP (Honeywell), Grace, Evonik Industries, CRI, Sinopec, Lyondell Basell Industries, Albemarle Corporation, Ineos, JGC Catalysts and Chemicals, Univation Technologies, CNPC, Axens and others.
Increasing Demand in Various Industries such as chemical, pharmaceutical, petrochemical, organic synthesis and oil-refining is driving the market growth.
Industrial catalysts such as nickel, iron complexes and metallocenes, are able to modify the microstructure and new properties are obtained of the polymer chain. Combination of metallocenes and methylalumoxane or perfluorinated borates as cocatalyst forms extremely active catalysts for polymerization of olefins and production of polymers including coatings, foams, textile, industrial fibers and adhesives. Increasing use of catalyst in petroleum, energy production and automotive sector is driving the growth of market. In The production of clean energy from renewable energy sources, such as transportation fuels from non-edible biomass and hydrogen for fuel cells are also catalyst. To reduce emissions of CO2, NOx and hydrocarbons from automotive vehicles, catalysts are used. Nearly more than 90% of industrial processes actually use catalysts in one form or the other to produce products and to reduce the emission. However, fluctuating price of raw material is projected to hinder the growth of the industrial catalyst market. In spite of that, technological advancement and development of biochemicals through catalysis presents an increasing use of enzymes in petroleum refining, petrochemical industries and chemical production which may offer a lucrative opportunity for the industrial catalyst market growth within the forecast period.
The Asian region holds the largest market share in industrial catalyst market due to the speedy development of chemical industry in emerging economies like China and India. In addition, increasing use of industrial catalysts for manufacturing of petrochemical products is also trending in this region. Developing economies can an opportunity for market players to strengthen their presence and improve their product portfolio in Asia Pacific region.
By Regional & Country Analysis:
Middle East and Africa