Reports And Data

Industrial Catalyst Market Trends – The rising demand for industrial catalyst for manufacturing ecofriendly fuels

NEW YORK, NY, UNITED STATES, March 9, 2022 /EINPresswire.com/ -- Reports and Data’s latest market analysis report, titled ‘Global Industrial Catalyst Market – Forecast to 2028,’ provides the reader with a holistic view of the Industrial Catalyst industry. Our market experts have offered in-depth information on the key segments and sub-segments of the industry in this report. Global Industrial Catalyst Market is forecast to reach USD 26.48 Billion by 2027, according to a new report by Reports and Data. The increasing demand for eco-friendly fuels is boosting the growth of the sector. The underlying reason is, with increasing demand for eco-friendly fuels, there has been a growing demand for this catalyst due to its effectiveness in promoting clean fuel, enhancing operational efficiency, and addressing fuel standards. Furthermore, there has been growing emphasis on industrial research and expansion of chemical industries, which is also acting as a driving factor for the market growth, wherein this catalyst is used as an accelerating element between two chemical reactions and involves less energy for activation. In various sectors ranging from the automotive industry, petrochemical industries, chemical industries, among others, it finds application for emission control.  

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Key participants include BASF SE, Albemarle Corporation, Akzonobel N.V., Exxon Mobil Chemical Corporation, Arkema SA, Chevron Phillips Chemical Company, Evonik Industries AG, The DOW Chemical Company, Clariant AG, and I. Du Pont De Nemours and Company (Dupont).

Further key findings from the report suggest

In regards to Type, the Heterogeneous Catalyst segment held a significant share of more than 60.0% in 2019. The market share held by the Heterogeneous Catalyst segment is attributed to various advantages associated with it like the ease of separation, reusable, and stability, which results in its wide preference among end-users.   

In context to Raw Material, the Metal segment held a considerable share of the market of more than 35.0% in 2019. The market share held by the Metal segment is attributed to the elevated application of metal like CO-Metal when managing CO and catalyst.

In context to Application, the Petroleum Refinery segment held a considerable share of the market of 35.0% in 2019. The market share held by the Petroleum Refinery segment is attributed to the continuous expansion of the automotive sector, rising demand for fuel, and elevating refining capacity expansion which is contributing to the market share held by this segment.   

In December 2017, BASF had made an investment in Ṥroda Ṥląska, Polan, wherein the aim of the investment was expanding mobile emissions catalysts site. It aims at providing innovative catalysts solutions for supporting users to meet stringent emission regulation standards.

In March 2017, BASF Catalysts India Private Limited inaugurated mobile emissions catalysts manufacturing site. The site was launched in Chennai, India. The focus of the expansion of upgrading production capacities of the company to support local automakers meet stricter government emissions standards.

BASF had acquired global styrene catalysts business of global styrene catalysts business. With the help of such an acquisition, the company would be able to strengthen its positioning in the industrial catalyst sector.

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For the purpose of this report, Reports and Data have segmented the Industrial Catalyst market on the basis of Type, Raw Materials, End-user, Application, and region:

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Chemical Synthesis

Petroleum Refinery

Petrochemicals

Others

End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

Oil and Gas Industry

Chemical Industry

Automotive and Transportation Industry

Energy Industry

Manufacturing Industry

Pharmaceutical and Medical Industry

Plastics and Polymer Industry

Pharmaceutical and Medical Industry

Agricultural Industry

Pharmaceutical and Medical Industry

Others

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Global Industrial Catalyst Market Report: Table of Contents

Report Overview:

Research Scope

Key market segments

Leading market players

Market segmentation based on the type

Market segmentation based on application

Market segmentation based on region

Key learning objectives

Report timeline

Competitive Outlook:

Global Industrial Catalyst market size by the manufacturer

Global Industrial Catalyst market key players

Products/solutions/services by the major players

New market entrants

Mergers, acquisitions, joint ventures, and expansion strategies

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About Reports and Data

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