The Global Industrial Catalyst market is forecast to reach USD 26.48 Billion by 2027, according to a new report by Reports and Data. The increasing demand for eco-friendly fuels is boosting the growth of the sector. The underlying reason being, with increasing demand for eco-friendly fuels, there has been a growing demand for this catalyst due to its effectiveness in promoting clean fuel, enhancing operational efficiency and addressing fuel standards. Furthermore, there has been growing emphasis on industrial research and expansion of chemical industries, which is also acting as a driving factor for the market growth, wherein this catalysts is used as an accelerating element between two chemical reactions and involves less energy for activation. In various sectors ranging from automotive industry, petrochemical industries, chemical industries, among others, it finds application for emission control.
Industrial Catalyst Market Size – USD 19.00 Billion in 2019, Growth – CAGR of 4.0%, Trends – The rising demand for industrial catalyst for manufacturing ecofriendly fuels
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Leading Players– BASF SE, Albemarle Corporation, Akzonobel N.V., Exxon Mobil Chemical Corporation, Arkema SA, Chevron Phillips Chemical Company, Evonik Industries AG, The DOW Chemical Company, Clariant AG and I. Du Pont De Nemours and Company (Dupont).
Further key findings from the report suggest
- In regards to Type, the Heterogeneous Catalyst segment held a significance share of more than 60.0% the in 2019. The market share held by the Heterogeneous Catalyst segment is attributed to various advantages associated with it like ease of separation, reusable and stable, which results in its wide preference among end-users.
- In context to Raw Material, the Metal segment held a considerable share of the market of more than 35.0% in 2019. The market share held by the Metal segment is attributed the elevated application of metal like CO-Metal when managing CO and catalyst.
- In context to Application, the Petroleum Refinery segment held a considerable share of the market of 35.0% in 2019. The market share held by the Petroleum Refinery segment is attributed to continuous expansion of the automotive sector, rising demand for fuel and elevating refining capacity expansion which is contributing to the market share held by this segment.
- In December 2017, BASF had made an investment in á¹¤roda á¹¤lÄ…ska, Polan, wherein the aim of the investment was expanding mobile emissions catalysts site. It aims at providing innovative catalysts solutions for supporting users to meet stringent emission regulation standards.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Industrial Catalyst market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Industrial Catalyst market.
Dilution Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Homogeneous Catalyst
- Heterogeneous Catalyst
Raw Materials Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Organometallic Material
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
- Chemical Synthesis
- Petroleum Refinery
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Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Industrial Catalyst market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Industrial Catalyst market over the forecast years?
- Which are the leading players in the global Industrial Catalyst market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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