SAN FRANCISCO, June 3, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Catalyst Carriers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: February 2021
Executive Engagements: 3336
Companies: 40 - Players covered include Almatis GmbH; Applied Catalyst; BASF SE; C&CS GmbH; Cabot Corporation; Calgon Carbon Corporation; CeramTec GmbH,; Christy Catalytics; CoorsTek Inc.; Devson Catalyst; Evonik Industries; Exacer s.r.l.; JGC Catalysts and Chemicals Ltd.; Magma Ceramics & Catalysts; NORITAKE CO., LIMITED; Pingxiang Gophin Chemical Co., Ltd; Porocel Corporation; Saint-Gobain; SAKAI CHEMICAL INDUSTRY CO.,LTD.; SINOCATA; Ultramet; W. R. Grace & Co. and Others.
Coverage: All major geographies and key segments
Segments: Type (Ceramics, Activated Carbon, Zeolites, Other Types); End-Use (Oil & Gas, Chemical Manufacturing, Automotive, Pharmaceuticals, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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Global Catalyst Carriers Market to Reach 134.5 Million Kilograms by 2026
Catalyst carriers are used during catalyst synthesis for enhancing the efficacy and properties of the catalyst. These materials are usually in a solid form with large surface area and facilitate in the delivery of catalytic substances for assisting chemical processes. In addition, catalyst carriers can be utilized in certain processes as an external agent by coating them over the catalyst's surface for inhibiting the catalyst dissolution in the solution. Catalyst carriers are porous substrate materials used commonly as carrier materials in heterogeneous catalytic reactions, including the oxidation process. These materials find widespread utility in petrochemical and chemical industries for refining liquids and gases into intermediate as well as end-use products. In addition, they find widespread usage in the oil and gas and automotive industries.
Amid the COVID-19 crisis, the global market for Catalyst Carriers estimated at 107.4 Million Kilograms in the year 2020, is projected to reach a revised size of 134.5 Million Kilograms by 2026, growing at a CAGR of 3.9% over the analysis period. Ceramics, one of the segments analyzed in the report, is projected to grow at a 4.3% CAGR to reach 77.5 Million Kilograms by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Activated Carbon segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 27.6% share of the global Catalyst Carriers market.
The U.S. Market is Estimated 45.3 Million Kilograms in 2021, While China is Forecast to Reach 15.2 Million Kilograms by 2026
The Catalyst Carriers market in the U.S. is estimated at 45.3 Million Kilograms in the year 2021. The country currently accounts for a 41.43% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of 15.2 Million Kilograms in the year 2026 trailing a CAGR of 5.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR while Rest of European market (as defined in the study) will reach 16.2 Million Kilograms by the close of the analysis period.
Technological advancements and increased energy demand in emerging economies are likely to create tremendous growth opportunities for the manufacturers of catalyst carriers. Further, the rising demand for customized catalyst carriers for certain niche applications would further augment the global market growth. The growth in the chemical industry and stricter government regulations pertaining to petroleum treatment are some other major factors that are expected to bolster the market growth. However, the high manufacturing cost of catalyst carriers owing to the usage of rare earth elements, need for technical expertise and involvement of various complex processing stages are likely to hinder the growth prospects of the market in the near future. In addition, declining feedstock advantages and the growing focus on renewable energy sources are anticipated to restrain the market growth. Moreover, stringent regulations, lack of protocols and standards, and price volatility of raw materials used for producing catalyst carriers are anticipated to hamper growth in the global catalyst carriers market. The ongoing COVID-19 pandemic across the globe has also adversely affected the manufacturing process, which in turn is expected to act as a growth barrier for the market in the near-term. The increase in research and development activities for developing innovative catalyst carriers that can render support to the catalyst to improve its action mechanism, as well as enable the production of cost-effective catalysts are expected to offer lucrative growth opportunities for the market participants in the coming years.
Zeolites Segment to Reach 17.5 Million Kilograms by 2026
In the global Zeolites segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of 11.7 Million Kilograms in the year 2020 will reach a projected size of 14.6 Million Kilograms by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 1.7 Million Kilograms by the year 2026, while Latin America will expand at a 3.7% CAGR through the analysis period. More
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