Catalyst Market Is anticipated To achieve $27.59 Billion By 2017:Grand View Research,Inc
New Market Research Reports Title “Catalyst Market Analysis Size and Segment Forecasts to 2020” Has Been Added to GrandViewResearch.com Report Database
The global catalyst market was valued at USD 20.55 billion in 2013 and is expected to achieve USD 27.59 billion by 2020 owing to its wide usage in growing chemical and automobile sectors. They are occidental petroleum logo maker essential components in any chemical reaction, which generally enhances the speed of reaction without being consumed in the method.
Rising manufacturing activities of polymers and chemicals are anticipated to play an important role in the growth of the market over the forecast period. In addition, presence of regulations supporting the manufacture and use of catalysts is expected to augment market growth over the following six years. In 2013, global demand was 6,259.3 kilo tons and is projected to achieve 7,803.4 kilo tons with a CAGR of 3.2% from 2014 to 2020.
Chemical synthesis was valued at USD 1.73 billion in occidental petroleum logo maker 2013. Catalysts are being increasingly used in chemical synthesis on account of superior characteristics including high stability, activation of alkenes and alkynes and promoting regio-, diastereo- and enantioselective processes.
Browse to access In-depth research report on Global Catalyst Market with detailed charts and figures: http://www.grandviewresearch.com/industry-analysis/catalyst-market
Environment catalysis was the most important application accounting for 28.6% of the global demand and is anticipated to grow with a CAGR of 3.9% from 2014 to 2020. Presence of stringent regulations for environment protection, particularly in Europe, is expected to enhance demand.
Demand for heterogeneous catalysts exceeded 4,900 kilo tons in 2013. They’re used in automotive, stationery, chemical, and refinery and polymer industries. Growth of these end-use industries is anticipated to augment demand over the forecast period. Homogeneous catalysts are anticipated to witness substantial growth as they’re highly active and can be used across a variety of applications.
Zeolites and metals are used for emission reduction and petro-refining process, whereas, chemical compounds and enzymes are used in polymerization reaction and chemical synthesis process. Chemical compounds dominated the industry accounting for 38.3% of the worldwide industry in 2013.
North America catalyst demand was 1,890.3 kilo tons in 2013 and is expected to witness substantial gains over the forecast period on account of growing gasoline demand in the U.S. This is expected to extend the importance of FCC and hydrocracking activities meant for conversion of heavy crude oil into light cuts.
Asia Pacific accounted for over 30% of the overall market in 2013 and is predicted to witness significant gains over the following six years on account of growing demand for fuels and polymers. Asia Pacific accounted for 43% of world polyethylene capacity in 2008 and is predicted to touch more than 50% by 2020. Increasing refining output in India and China on account of government support and technological advancement is predicted to reinforce production of polymers such as polyethylene and polypropylene. Growing production of polypropylene and polyethylene in Asia Pacific is expected to fuel the demand for organometallic catalysts over the forecast period.
Key players in the market include Eka Chemicals AB, Zeolyst International Inc. Evonik Industries AG, W.R.Grace” Revenue, USD Million, 2012 – 2020)
• Heterogeneous Catalysts
• Homogenous Catalysts
Catalyst Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• Chemical Compound
Catalyst Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• Petroleum Refining
• Chemical Synthesis
Catalysts Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• North America
• Asia Pacific