Global Catalysis Market:
The global catalysis market is expected to be valued at US$ 33,900.8 Mn in 2019 and expected to grow at a CAGR of 4.4% over the forecast period by 2026. Improvement in yields, environmental regulations, cost savings and energy savings among producers are the key drivers of global catalysis market. They often need to be removed from a product and cleaned. For preparation of more than one product, need of more than one catalyst and catalysts can be required. The market for catalysts has been driven by shifting energy patterns towards renewable fuels, including biodiesel and shale gas providing multiple opportunity towards the global catalysis market.
Increasing Demand for the Product from Petrochemicals and Chemicals Applications
It is noticed that the global catalysis market market has a significant market growth rate on the perspective of increasing demand for the product from petrochemical and chemical application. A tighter regulatory environment across the board would encourage a change in the catalyst product mix to highly efficient, higher-value catalyst products, enable product differentiation and provide manufacturers with flexibility. Chemical consumption worldwide in 2018 accounted for over 3.45 trillion euros, or 3.95 trillion U.S. dollars. Rising global demand for petroleum products, combined with growth in crude oil refining capacities across the world, led to dominate the global catalyst market.
Asia Pacific Dominates the Market Share in the Global Catalysis Market
Asia Pacific contributed major revenue followed by North America and Europe. In 2019, Asia Pacific region accounted huge growth rate and is anticipated to grow with a forecast year. The domination of China’s automotive, petrochemical, rubber and chemical industries. North America is the second largest market. Increasing U.S. fuel consumption is expected to boost demand for catalysts used to convert heavy crude oil to light fractions such as kerosene, diesel, and fuel. The European Association of Catalyst Manufacturers (ECMA) encourages the use of catalysts in different industries to minimize emissions and reduce pollution.
Key player’s profiles in the global catalysis market include:
- Albemarle Corporation
- Haldor Topsoe A/S
- BASF SE
- Evonik Industries AG
- LyondellBasell Industries Holdings B.V.
- R. Grace & Co.-Conn.
- Johnson Matthey Plc
- Axens SA
- Clariant International Ltd
- Exxon Mobil Corporation
- Market players have witnessed the strategic collaboration and acquisition to expand product portfolio and strengthen their position in the market to enhance the revenue of the company.
- In April 2018, W.R. Grace Co announced the acquisition of Albemarle Corporation’s catalyst business. This acquisition has provided a boost to the company’s polyolefin catalysts and components business.
- In May 2015, Chevron Philips Chemical Company and W.R. Grace and Co announced the launch of their collaboration with the establishment of Advanced Refining Technologies (ART). Advanced Refining Technologies is planning to build a residue hydro-processing catalyst plant in Louisiana, US with an investment of USD 135 million.
Global Catalysis Market Report Description:
Global catalysis market report gives comprehensive outlook on catalysis market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on catalysis market gives historical, current, and future market sizes on the basis of type, application, raw material and region. This report studies global catalysis market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global catalysis market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global catalysis market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global catalysis market
Key Findings of the Report:
- Global catalysis market expanding at significant CAGR over 2020 to 2026 owing due to increasing demand for the product from petrochemical and chemical application
- Based on region, Asia Pacific accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Chemical Compounds
- Petroleum Refining
- Chemical Synthesis
- Polymer Catalysis
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA