The Global Market for Nanocatalysts is Projected to Reach US$7.2 Billion by 2020
Growing Need to Curb Automobile & Industrial
Emissions Drives the Global Nanocatalysts Market, According to a New Report by Global Industry Analysts, Inc.
GIA announces the release
of a comprehensive global report on Nanocatalysts. The
global market for Nanocatalysts is projected to reach US$7.2 billion by 2020,
driven by the growing focus on abatement of greenhouse gases through active use
of catalytic technologies.
Catalysis plays an
important role in the production of a range of chemical, petrochemical, and
pharmaceutical products. Production of chemicals involves the use of industrial
catalytic processes. Approximately 90% of all chemical products produced
involve the use of catalysts at some stage or the other in the manufacturing
process. Defined as the use of nanoparticles to catalyze reactions, nanocatalysts
are growing in prominence worldwide. Key factors driving their popularity
include extremely small size, higher surface area, and superior catalytic
activity as compared to traditional catalysts. Nanocatalysts help in increasing
the speed and efficiency of catalysis. By helping accelerate the chemical
process, nanocatalysts help lower the use of energy, thereby reducing the
carbon footprint of manufacturing technologies.
Petroleum
refineries represent the largest end-user of nanocatalysts. Steadily growing
demand for oil products will continue to benefit demand for nanocatalysts in
oil processing and petroleum refining processes. Major factors driving demand
for petroleum based products include increasing manufacturing and industrial
activity, and growing vehicle population worldwide. The trend towards low
sulfur content in gasoline and diesel is fueling gains in the market, since
nanocatalysts are known to reduce sulfur as compared to conventional catalysts.
Demand for Nano Pt catalysts is forecast to grow strongly in reforming processes,
while
nano zeolites will witness strong adoption in fluid catalytic cracking of
heavy oil. Nano hydroprocessing catalysts are also finding widespread use in
refineries. Countries such as China and India are forecast to emerge as
lucrative markets, against a backdrop of new oil refining capacity additions in
these countries.
Stringent
environmental protection and emission control regulations are also driving
global demand for nanocatalysts in a range of environmental application areas.
Nanocatalysts are extensively used in automobile three-way catalytic converters
that help reduce harmful emissions of NOx, HC and CO from vehicle exhaust systems.
Nanocatalysts are also widely used in the selective catalytic reduction (SCR)
process for reducing NOx emissions from stationary industrial equipment. Other
promising application areas include water treatment, biomass to biofuel
conversion, and strong production of bio-diesel and bioplastics. Successful
commercial development of bimetallic nanocatalysts is also driving growth in
the market.
As
stated by the new market research report on Nanocatalysts, the United States
represents the largest market worldwide. Asia-Pacific is forecast to emerge as
the fastest growing market with a CAGR of 6.1% over the analysis period. Growth
in the region is led by strong automobile manufacturing activity in China and
India, and the resulting increase in demand for catalytic converters in the
automotive OEM market. Increase in oil refinery activity and enforcement of
strict automobile and industrial emission norms are also helping drive growth
in the region.
Key
players covered in the report include BASF SE, CDTi, Headwaters Inc., Hyperion
Catalysis International, Johnson Matthey Plc, Mach I Inc., Nanophase
Technologies Corporation, NexTech Materials Ltd., PQ Corporation, Zeolyst
International, Sachtleben Chemie Gmbh, Umicore, and W. R. Grace & Co. among
others.
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