The Global Market for Nanocatalysts is Forecast to Reach US$8.5 Billion by 2024

Rapid Demand from Refineries, Petrochemical and Environmental Sectors Drives the Global Nanocatalysts Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Nanocatalysts market. The global market for Nanocatalysts is forecast to reach US$8.5 billion by 2024, driven by ever growing demand of catalysts from petroleum refineries, automobiles, industrial, environmental, waste water treatment, energy, food processing, chemicals and pharmaceutical end-use sectors.

Catalysts alter chemical reactions without undergoing physical or chemical change themselves, and hence play a crucial role in many industrial processes speeding up chemical reactions and conversion of several substances to useful products. Nanocatalysts, catalysts of nano size, comprise at least one nanoscale dimension, which may be either external or internal. In the nanotechnology era, where size of objects is becoming smaller and smaller for achieving superior performance, nanocatalysts are also being used in several chemical processes. Use of nanocatalysts is now already widespread among several industries including petroleum refining, chemical and petrochemicals, pharmaceuticals, food processing and environmental applications among others. In the refining and petrochemical industries, nanocatalysts find their application in the process of hydro-desulfurization, heavy oil upgrading, coal liquefaction and catalytic cracking. Pharmaceutical sector may witness nanocatalysts replacing traditional catalysts, including molecules used in drug manufacture in the years to come. In the chemical industry, nanocatalysts, especially zeolites are primarily used in detergents as chemical processing catalysts. Nanocatalysts are also used in the production of ethanol, agricultural chemicals and production of hydrogen peroxide with superior selectivity. Food processing and environmental applications are the other major beneficiaries of nanocatalyst adoption.

The growing need of enhancing production, demand for cleaner fuels, and rising focus on catalyst principle has been driving the petroleum industry, particularly refineries to go beyond their traditional catalysts and focus on use of nanoparticles in refining processes. Stringent environmental protection and emission control regulations are driving global market for emission control catalysts in a wide range of end-use application areas. The chemical industry has already shown significant interest levels in the application of nanocatalysts, and ongoing R&D activities only proves that coming years will witness an increased adoption of nanocatalysts in the chemical industry. In pharmaceuticals, drug delivery systems are also enhanced through nanocatalysts as atomic scale particles are easier to absorb by the infected area, thus yielding desired results. Hence, the pharmaceutical industry has given the priority to nanocatalysts, thus driving the demand. The concept of green chemistry is rapidly gaining acceptance, thanks to the growing awareness of meeting fundamental challenges such as protecting the environment and human health, whilst keeping the commercial success intact. Hence, as the whole world embraces the concept of green chemistry, the nanocatalysts market is poised to receive a massive boost.

As stated by the new market research report on Nanocatalysts, the U.S. represents the largest market worldwide. With continuously revised regulations for both stationary and mobile engines accelerating the development of solutions with emission reduction capabilities, demand for effective emission nanotechnology based control catalysts is expected to grow strong in the country. Asia-Pacific is projected to record the fastest compounded annual growth rate of 6.3% over the analysis period. Asia’s growth is primarily contributed by China, which has emerged as a key manufacturer of most consumer products from computers to cosmetics, thus driving demand for industrial nanocatalysts.

Key players in the market include BASF SE, Clean Diesel Technologies, Inc., Hyperion Catalysis International, Johnson Matthey, Mach I, Inc., Nexceris, PQ Corp., Zeolyst International, Umicore N.V., Venator Materials PLC, and W. R. Grace & Co., among others.

The research report titled “Nanocatalysts: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, and other strategic industry activities of global companies. The report provides market estimates and projections in value (US dollars) terms for major geographic markets including the US, Japan, Europe (France, Germany, UK, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), and Rest of World. The report also analyzes the market by end-use applications – Refinery, Petrochemicals, Pharmaceuticals, Chemicals, Food Processing, Environmental, and Others.

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