Catalyst Market is Likely to Cross over $27 Billion by 2020 | Hexa Research


Free Press Release DB | Press Release Date : Jul 31, 2017  Download


Catalysts are an integral part of petroleum refining. They are used in various refinery processes like hydroprocessing, cracking, and reforming. Rising environmental awareness is leading to the adoption of green technologies


A catalyst is a substance that accelerates a chemical reaction and retains its original composition. A recent study by Hexa Research notes that the worldwide demand for the Catalyst Market in 2013 was about 6,250 kilo tons. It is expected to grow at a CAGR of 3.1% from 2014 to 2020. By 2020, the volumes will exceed 7,750 kilo tons.  

Petroleum refining is rising due to energy demand. This coupled with increasing focus on green technologies is generating high demand for catalysts. Environmental regulations in different parts of the world lay emphasis on emission control. This has altered several manufacturing processes across industries. Catalysts help in making processes efficient and are therefore witnessing high demand.

 

Since catalysts are widely used in chemical synthesis, any growth in the chemical manufacturing sector translates into corresponding growth for the catalyst market. Precious metals are widely used as catalysts. Volatility in their pricing adversely affects the market. Depleting crude oil reserves will result in a drop in the number of petroleum refineries. This will again have a negative market impact.

 

Browse Details of Report @ https://www.hexaresearch.com/research-report/catalyst-market-industry/


Hexa Research also divides the market on the basis of materials, products, applications, and regions. The materials segment encompasses metals, zeolites, chemical compounds, and others. Chemical compounds dominated the catalyst market in 2013. They contributed more than 40% to the total volumes and are cheaper than zeolites and metals.

 

Chemical compounds are projected to grow the fastest, at a CAGR of 3.3% from 2014 to 2020. The market is segmented in view of products into homogeneous, and heterogeneous. Heterogeneous catalysts possess augmented significance in view of their use in various industry verticals. Homogeneous catalysts are estimated to grow further.

 

Catalysts find applications in refinery, chemical, polymer, stationery, automotive, and environmental   sectors. Chemical, with a contribution of 1,790 kilo tons in volumes, was the leading application in 2013. This may be attributed to growth in chemical manufacturing, particularly in Latin America and Asia Pacific. With respect to regions, the Asian Pacific catalyst market accounted for the highest demand, i.e. more than 33% in 2013.

 

Europe will generate moderate demand for environmental catalysts in the years ahead. North America will be driven by petroleum refining. The dominating market participants are Evonik Industries AG, Clariant International Ltd., Albemarle Corporation, INEOS Group Ltd., and Zeolyst International Inc.

 

Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/catalysts-and-enzymes-industry

About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

 

Contact Us:

Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales@hexaresearch.com
Website - http://www.hexaresearch.com/




Contact Person & Company

Name

:

Carrol Topp

Company

:

Hexa Research

Contact Numbers

Telephone No.

:

8004893075

Fax No.

:

8004893075

Handphone No.

:

8004893075

Website

Website 1

:

Website 2

:

Youtube

:

PR Tags

:

Catalyst Market, Catalyst Market Size, Catalyst Market Share, Catalyst Market Growth, Catalyst Market Analysis, Catalyst Market Forecast,

Address

Felton Office Plaza

6265 Highway 9

95018, Felton

California


Contact The Author



Contact Carrol Topp






More Press Release From Author



Synthetic Lubricants Market to Witness Swift Growth by 2024


Free Press Release DB :

Synthetic Lubricants Industry Research Report - Market Analysis and Forecast to 2024 --> Read This Press Release !



By : Carrol, Topp ( Oct 17, 2017 )
Category : Science Press Release | Country : United States Press Release




Synthetic Diamonds Market Size To Reach USD 28.26 Billion By 2024


Free Press Release DB :

Synthetic diamond market size was estimated to be worth USD 14.9 billion in 2016. Also known as cultured, cultivated or artificial diamonds, they are increasingly used for an array of applications other than industrial including abrasives. --> Read This Press Release !



By : Carrol, Topp ( Oct 17, 2017 )
Category : Business Press Release | Country : United States Press Release




Global Acetic Acid Demand for PTA is Likely to Rise to more than 3,750 kilo tons in 2020


Free Press Release DB :

Global Acetic Acid Market is Expected to Witness Significant Growth owing to Increasing use in Industrial and Household Applications --> Read This Press Release !



By : Carrol, Topp ( Oct 16, 2017 )
Category : Science Press Release | Country : United States Press Release





Read More Articles From Carrol Topp



Disclaimer

The author of the press releases are solely responsible for the content of their press releases. Freepressreleasedb.com can't be held liable for the content posted by author. Please check the accuracy of the press release before using the press release. If necessary please contact the author. Thank you.




Report Abuse