The precious metal catalysts market size will grow from USD 14.37 Billion in 2017 to USD 19.41 Billion by 2022, at a CAGR of 6.19%.
The precious metal catalysts market is witnessing considerable growth due to advancements in technology and rise in emission norms across the globe. Growth in demand in automobile and pharmaceutical applications, along with environmental concerns and their legal implications are the key factors fueling the growth of the precious metal catalysts market.
The precious metal catalysts market has opportunities owing to the increase in R&D activities by companies to reduce costs and improve the quality of catalysts and the rise in investments in the automobile sector, which will drive the demand for emission control catalysts. In contrast, factors such as performance dependency on temperature & loss of activity through poising and thermal deactivation and use of new nano-particle catalysts (which can reduce the need for precious metals catalysts) restrain the growth of the market.
The automobile sector dominated the market in 2016, and is projected to be the fastest-growing end-use sector over the next five years, as a result of the rising stringent emission standards and the growing automotive industry. The newly developed emission standards demand additional improvements in catalyst technologies to successfully remove toxic substances from car exhausts, which will, in turn, drive the precious metal catalysts market growth through the automobile sector.
Arora Matthey Limited
Catalysts And Technologies
Catalytic Products International
Clariant International Ltd
Dcl International Inc.
Evonik Industries Ag
J&J Materials Inc
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Macroeconomic Overview
7 Precious Metal Catalysts Market, By Type
8 Precious Metal Catalysts Market, By End-Use Sector