Fior Markets launched a study titled“Catalyst Market by Material (Metal, Chemical, Zeolites, Organometallic Materials), Type,Application, Regions”,and Global Forecast 2018-2025.
The global catalyst market is expected to grow from USD 24.29 Billion in 2017 to USD 35.63 Billion by 2025, at a CAGR of 4.91% during the forecast period from 2018-2025. Rising demand from the end user industries such as petroleum refinery, chemical synthesis industry as well as polymer and petrochemical industry are fuelling the market growth.
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Metal catalyst segment had a market value of USD 9.35 billion in 2017
The material segment is divided into metal, chemical, zeolites, and organometallic materials. Metal catalysts are widely utilized in the petrochemical and polymers sector, thus rising demand for these products is leading to an increased demand for the catalysts. The metal catalyst segment led the global catalyst market with USD 9.35 billion revenue in 2017. Owing to their growing utilization for the purpose of converting high molecular weight hydrocarbons into light ones, such as petrol and diesel, the zeolites segment is projected to attain a significant pace over the forecast period. Chemical catalyst segment also held a robust market share in 2017, due to their low cost and healthy demand from the developing economies of the world.
Heterogeneous catalyst segment had a market value of USD 15.42 billion in 2017
Type is segmented into heterogeneous and homogenous. The increasing use of heterogeneous catalysts in the chemical, polymer, petrochemicals, and automobile industries as well as their property for easy separation from the product, the heterogeneous catalyst segment emerged as the leader with USD 15.42 billion revenue in 2017.
Petroleum segment had a market value of USD 9.80 billion in 2017
Application segment is categorized into petroleum refining, chemical synthesis, petrochemicals, and others. Catalysts aid in the cracking process of the raw crude oil. Therefore growing global demand for petroleum products coupled with growth in the crude oil refining capacities across the world led petroleum refining segment to dominate the global catalyst market with USD 9.80 billion revenue in 2017. Chemical synthesis segment also held a robust share of the global catalyst market in 2017.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific region is anticipated to progress at an accelerated CAGR of 7.83% over the forecast period. This increased growth can be attributed to the factors such as rapid development of chemical synthesis and petrochemical industry, increase in petroleum refining capacities and growing demand for petroleum fuel.
Major players in the global catalyst market are Albemarle Corporation, BASF SE, Clariant AG, The DOW Chemicals Company, ExxonMobil Chemical Co., Chevron Philips Chemical Company, Zeolyst International, Inc, Johnson Matthey Process Technologies, W.R. Grace and Co, Evonik Industries AG, E. I. du Pont de Nemours and Company, DorfKetal Chemicals Llc, Borealis AG, Sinopec Corp., Royal Dutch Shell PLC, and among others.
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