Catalysts Market Report, Growth Segments - Business Size with Forthcoming Developments, Share, Revenue and Global Trends Forecast 2021 to 2027
A comprehensive overview of the global Catalysts market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Catalysts market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global Catalysts market at regional and country levels. The global Catalysts market was stood around $33 billion in 2020 and is expected to grow at a CAGR of ~4% between 2021-2027.
Market Overview
The global catalyst market is growing on account of increasing chemical, petrochemicals, polymer, and petroleum refining industries owing to increasing global population and increasing consumer demand due to rise in disposable income. Further, catalyst has become a crucial part of environment sector as well due to their ability to remove toxic substances emitting from stationary and mobile sources, and VOC conversions. In addition, increasing focus on protecting the environment has resulted the development in the field of environmental catalyst. For instance, new areas of environmental catalysts include catalytic technologies for liquid or solid waste reduction or purification; use of catalysts in energy-efficient catalytic technologies and processes; reduction of the environmental impact in the use or disposal of catalysts; new eco-compatible refinery, chemical or non-chemical catalytic processes; catalysis for greenhouse gas control; use of catalysts for user-friendly technologies and reduction of indoor pollution; catalytic processes for sustainable chemistry; and reduction of the environmental impact of transport. Owing to such factors, the demand of catalyst is growing.
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COVID-19 Impact
2020 was a negative year for the catalyst market with the production from end use industry declined. Industrial production had halted due to the increasing cases of COVID-19, thus governments across the globe implemented lockdown in order to reduce the cases. Further, oil & gas industry has witnessed a severe impact with price fall to negative digit owing to which oil & gas producing countries has halted the production activities. This affected the refineries production. Owing to such factors, demand of catalyst declined in 2020.
Global Catalysts market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By material, the market is primarily divided into:
- Chemicals
- Peroxides
- Acids
- Amines
- Others
- Metals
- Base Metals
- Precious Metals
- Zeolites
- Others
Based on material type, metals held the significant share in the market and is likely to retain it position during the forecast period. These catalysts are widely used in both research laboratory and in industrial process. Pure metals such as Pt, Pd, and Ir are unsupported heterogenous catalysts. When these catalysts affixed to a material with a high surface area, such as carbon, alumina, or silica, it becomes a supported heterogeneous catalyst. This offers stability to the metal catalyst. Owing to which, it is used in organic synthesis, petrochemical industry, and environmental protection & remediation. For instance, petrochemical industry uses precious metal catalysts, mostly platinum on alumina, to produce high octane gasoline as well as many organic chemicals critical in the manufacture of many industrial products.
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By application, the market is mainly categorized into:
- Chemical Synthesis
- Petroleum Refining
- Polymers and Petrochemicals
- Environmental
- Others
Based on application, chemical synthesis application area accounted for the considerable market share in 2020 and is expected to showcase significant growth during the forecast period owing to increasing chemical demand from large base of end use industry. These catalysts are used n the manufacturing of PVC, methylamines, hydrogen, ammonia, and other industrial chemicals. Since the demand of these product is growing as a result, raw materials required during the synthesis is also increasing including catalysts. For instance, according to International Energy Association, global demand of pure hydrogen has increased to around 74 million tons in 2018 from 62.4 million tons in 2010. Further, according to European Council of Vinyl Manufacturers, the global use of PVC exceeds 40 million tons per year, and the demand is growing.
Global Catalysts Market Geographical Segmentation Includes:
- North America (United States, Canada, Rest of North America)
- Europe (Germany, UK, France, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
- Rest of World
Asia Pacific accounted for the significant share in the market owing to large and growing industries. The region is the largest producer of chemicals, refining product, polymers, and petrochemicals. Further, growing concern on environmental pollutions leads to the bolstering growth in the environmental catalyst market. For instance, according to European Chemical Industry Council, China, Japan, South Korea, India, and Taiwan are among the largest country in terms of chemical sales. In 2019, China topped the global market with a chemical sale of $1,718 billion (EUR 1,488 billion), followed by Japan $194 billion (EUR 168 billion), South Korea $137 billion (EUR 119 billion), India $106 billion (EUR 92 billion), and Taiwan $88 billion (EUR 76 billion). Also, China produces 25 million tons of hydrogen every year, out of a global total of about 70 million tons. Further, increasing oil consumption in the region, is increasing the demand of catalyst for processing the crude oil in different associated products. For instance, consumption of oil increased to 36,094 thousand barrels per day in 2019 from 27,963 thousand barrels per day in 2010.
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- Albemarle Corporation
- Haldor Topsoe A/S
- BASF SE
- Evonik Industries AG
- LyondellBasell Industries Holdings B.V.
- The Dow Chemical Company
- Exxon Mobil Corporation
- Clariant AG
- Chevron Phillips Chemical Company LLC
- Arkema S.A.
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global Catalysts market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the global Catalysts market?
- Which factors are influencing the global Catalysts market over the forecast period?
- What are the global challenges, threats, and risks in the global Catalysts market?
- Which factors are propelling and restraining the global Catalysts market?
- What are the demanding global regions of the global Catalysts market?
- What will be the market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by the companies?
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