Industrial Catalyst Market Share, Size, Trends, Growth, Demand By Region and Forecast Till 2024

Global Industrial Catalyst Market Research Report and Forecast Report Edition: 2019 © 2019 IMARC All Rights Reserved

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Global Industrial Catalyst Market Overview: According to the latest report by IMARC Group, titled “Industrial Catalyst Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the global industrial catalyst market reached a value of US$ 18.8 Billion in 2018. Catalysts are substances that initiate or accelerate reactions by providing an alternative reaction pathway with lower activation energy than the uncatalyzed reaction. These reactions form the foundation of many industrial chemical processes. At present, there is a wide variety of catalysts available in the market which fulfill different economic, political and environmental demands. Such diversity allows users to choose catalysts according to the reaction conditions, temperatures, pressure and feedstocks involved. Further, these catalysts help in the production of improved oil fractions for clean fuels such as biodiesel, ethanol, natural gas and propane.

Industrial Catalyst Market Trends The consequent rise in the demand from the automotive industry has led to the growth in the industrial catalyst market across the globe. Moreover, there has been a rise in the demand for nanocatalysts which are known for improving the catalytic process.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Million US$

in Million US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

They are majorly utilized in pharmaceuticals, chemicals, food processing, and oil and refinery industries. Apart from this, the overall demand for industrial catalysts is expected to be driven by the growing demand for petroleum products from the industrial and power generation sectors.

Looking forward, the market value is projected to reach US$ 23.9 Billion by 2024, expanding at a CAGR of 3.9% during 2019-2024.

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Over the past few years, the rising environmental concerns have increased the production of catalytic converters, a part of a car's emissions control system that helps in reducing toxic emissions.

Key Market Segmentation: Market Segmentation by Type • • •

Heterogenous Catalysts Homogeneous Catalysts Biocatalysts

The market has been segmented on the basis of types which include heterogeneous catalysts, homogeneous catalysts and biocatalysts. Amongst these, heterogeneous catalysts represent the largest segment.

Market Segmentation by Raw Material • •

Mixed Catalysts Oxide Catalysts

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Metallic Catalysts Sulphide Catalysts Organometallic Catalysts

Based on raw materials, the market has been categorized as mixed, oxide, metallic, sulphide and organometallic catalysts. Presently, mixed catalysts are the most popular raw material in the industry.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

On the geographical front, the market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Currently, Asia Pacific represents the largest region, holding the majority of the market share.

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Market Segmentation by Application • • • •

Petroleum Refinery Chemical Synthesis Petrochemicals Others

On the basis of applications, the market has been segregated into petroleum refinery, chemical synthesis and petrochemicals. Amongst these, petroleum refineries are the leading application segment.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • •

Albemarle Corporation Arkema BASF Corporation

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Clariant Ag Evonik Industries Ag Exxon Mobil Chemical Corporation AkzoNobel N.V. Chevron Phillips Chemical Company The DOW Chemical Company DuPont

For more information, click here: https://www.imarcgroup.com/industrial-catalyst-market

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