The Global Market for Chemical Processing Catalysts is Projected to Reach US$14.7 Billion by 2022

Innovatively Developed Catalysts and their Transformative Role in Chemical Processes to Drive Growth in the Global Chemical Processing Catalysts Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Chemical Processing Catalysts market. The global market for Chemical Processing Catalysts is projected to reach US$14.7 billion by 2022, driven by innovatively developed catalysts, increased use of catalysts in commodity chemicals, growing adoption of metallocene catalysts and bio-catalysis, and availability of cheaper transition metals.

Chemistry is at the core of more than 95% of all products manufactured worldwide as it touches number of stages in the manufacturing process in important sectors such as pharmaceuticals, communications, alternative energy, IT, buildings and transportation. Ongoing research studies are geared towards developing catalysts and other process improvements capable of reducing energy consumption and emissions in manufacturing. Catalysts, available in various forms, from molecules and atoms to large structures like enzymes or zeolites, are integral components in the chemical industry enabling manufacturers to reduce process costs as well as develop innovative product formulations to gain edge over competitors. Catalysts ensure efficient usage of raw materials, reduce waste, and hence are extensively used in the production of chemicals and industrial products. The market is expected to witness steady demand driven primarily by the recovery in polymer and chemical industries in developed economies and expanding polymer production globally.

Consumption of catalysts is also boosted by increasing use of high-performance catalysts for pushing up process yields and for extending catalyst life. Other supportive factors include reduction in volume of high-value metals in catalysis without compromising yields; development and commercialization of chiral catalysts used in selective hydrogenation for producing fine pharmaceuticals or chemicals for agrochemicals and aroma. High selectivity is one of the most desired features for catalyst users as even a slight increase in the parameter can lead to good reductions in formation of byproducts, which saves them significant amounts which they would otherwise spend on purification. The need to increase food production is driving demand for fertilizers, which are used to enhance crop yield and improve food quality by offering protection to crops against diseases and pests. The increasing demand for fertilizers is in turn fueling demand for syngas catalysts. Solid heterogeneous catalysts are experiencing an increasing popularity among the researcher community for synthesis of various organic compounds, which signifies the emergence of these catalysts as viable and effective alternatives. Also, in recent years the concept of bio-catalysis has become an integral component of green chemistry as the use of certain enzymes is associated with numerous benefits and helps the process to comply with ‘green’ guidelines.

As stated by the new market research report on Chemical Processing Catalysts, Asia-Pacific represents the largest market worldwide. Asia-Pacific is poised to register the fastest CAGR of 5.8% over the analysis period led by new capacity additions in the domestic chemical industry. Other regions to experience notable growth are the Middle East and Latin America.

Major players covered in the report include Air Products and Chemicals, Inc., Albemarle Corp., BASF Catalysts LLC, Clariant, Evonik Industries AG, Johnson Matthey, INEOS Group Holdings S.A, LyondellBasell Industries N.V., and W. R. Grace & Co., among others.

The research report titled “Chemical Processing Catalysts: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, and Rest of Latin America). The report also analyzes the global and regional markets by segments - Polymerization Catalysts, Oxidation Catalysts, Organic Synthesis Catalysts, Synthesis Gas Catalysts, Hydrogenation Catalysts, and Dehydrogenation Catalysts.

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