Industrial Catalyst Market Worth 22.0 Billion USD by 2020
PUNE, India, February 18, 2016 /PRNewswire/ --
The report "Industrial Catalyst Market by Type (Heterogeneous & Homogeneous), by Material (Metal, Chemical, Zeolites and Organometallic Materials), by Application and by Region - Global Trends and Forecasts to 2020", published by MarketsandMarkets , The market size, in terms of value, is projected to reach USD 22 Billion by 2020, at a CAGR of 4.2%, between 2015 and 2020.
Browse 238 market data Tables and 49 Figures spread through 181 Pages and in-depth TOC on "Industrial Catalyst Market"
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Heterogeneous - The largest by type market of industrial catalyst
Heterogeneous catalyst is the largest type segment of the industrial catalyst market. Heterogeneous catalyst is preferred more in the global industrial catalyst market as it is easily separated from the manufactured products. Mostly, heterogeneous catalyst is solids that are added into gas or liquid reaction mixtures. Heterogeneous catalyst is used in various industries, mainly in petroleum refining. In addition to this, they are used in petrochemical manufacturing process and chemical synthesis, among various other applications.
Metal - The largest, by material market of industrial catalyst
Metals are the most preferred material used for manufacturing industrial catalyst. These are further divided as base metals and precious metals. The demand for metals has increased significantly owing to the increase in demand for industrial catalyst in refining, globally. The rapidly increasing cost of precious metals coupled with technological advancement in the use of base metals as catalyst could be a restraint for the application of the precious metals in industrial catalyst.
Petroleum refinery - The largest application market for industrial catalyst
Petroleum refinery is the largest application segment for industrial catalyst owing to the increase in refinery capacity and demand for fuels. The demand is growing rapidly in the Middle East & Africa and Asia-Pacific, particularly in China and India, whereas, the demand for fuel, in Europe, has declined over the past few years. Most of the new refinery investments are taking place in Middle East & Africa and Asia-Pacific.. The growth in the refinery capacities in these regions has triggered the demand for industrial catalyst, globally.
Asia-Pacific - The largest market for industrial catalyst
The Asia-Pacific region is estimated to be the largest market for industrial catalyst. This is mainly attributed to availability of raw material, labor, and low cost for setting up manufacturing units for industrial catalyst. The key factor driving the growth of the industrial catalyst market in the region is expansions of production capacities and acquisitions of other industrial catalyst manufacturers by major industrial catalyst players. China is the largest market for industrial catalyst in the Asia-Pacific region. The dominance of China in the market for industrial catalyst is due to the availability of raw materials, which is attracting investors to set up production facilities in the country.
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The Industrial Catalyst Market is competitive owing to the large number of buyers and large availability of suppliers across the globe. Major players such as Albemarle Corporation, BASF, and ExxonMobil have adopted various organic and inorganic developmental strategies. These strategies mainly include expansion, merger & acquisition, partnerships, and new product launch & product development to achieve growth in the industrial catalyst market. They mainly focus on providing high-quality and low-cost industrial catalysts for various applications such as petroleum refinery, chemical synthesis, and petrochemicals.
This report covers the market, in terms of value and volume, for industrial catalyst and forecasts the market size, till 2020. The report includes the market segmentation by type, by material, by application, and by region. It also provides company profiles and competitive strategies adopted by the major market players in the industrial catalyst market.
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