Precious Metal Catalysts Market Growth 2018-2026 |Alfa Aesar, BASF SE, Clariant International Ltd, Evonik Industries AG

Precious metals such as palladium and platinum are applied to carrier material to get precious metal catalysts. The commonly used carrier materials are aluminum oxide or active carbon. Precious metal catalysts have a wide range of applications such as it is used as a catalytic convertor in automobile industry. Catalytic convertor is used to convert toxic vehicle emissions into less toxic pollutants. Platinum, palladium, and rhodium are the commonly used precious metals in catalytic convertors. In pharmaceutical industries, synthesis of many active pharmaceutical ingredients such as acetaminophen, L-dopa, carbapenam, and tetracycline is done in the presence of precious metal catalysts. These catalysts are used in preparation of bulk chemicals such as ammonia, hydrogen peroxide, phenols, and anilines.

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Precious metal catalysts are also used to reduce Emissions of Volatile Organic Compounds (VOCs) in refineries. The demand for precious metal catalysts is increasing owing to its applications in various industries and strict pollution control regulations.
The high cost, thermal degradation, and loss of activity due to poisoning are some of the factors hindering the growth of the global precious metal catalyst market.

Precious Metal Catalysts -Market Outlook

Europe is the largest market for precious metal catalysts, owing to the introduction of stringent emission rules such as Euro 6 and Euro 7 which defines the limits for exhaust emission for new vehicles that are sold in Europe.
Precious metal catalyst market is growing rapidly in Asia Pacific, owing to the growth in pharmaceutical and automobile industries. According to India Brand Equity Foundation (IBEF), trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India the pharmaceutical industry in India is estimated to grow to US$ 100 billion by 2025.

Key Players in the Global Precious Metal Catalyst Market

The companies are adopting various strategies such as mergers and acquisitions to sustain their market positions. For instance, in March 2015, Monarch Catalysts Pvt. Ltd. acquired Evonik Industries AG. Some of the key players operating in the global precious metal catalyst market include Alfa Aesar, BASF SE, Clariant International Ltd, Evonik Industries AG, Heraeus Group, Johnson Matthey Plc, Umicore SA, and Vineeth Precious Catalysts Pvt. Ltd.

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