Industrial Catalysts Market Business Report to 2023: Global Foresight and Competitors - BASF SE, Bayer AG, Akzo Nobel N.V., The Dow Chemical Company, Clariant, Exxon Mobil Corporation, Honeywell International Inc., Haldor Topsøe A/S, INEOS

Market Overview:

As per our analysis, some of the prominent market factors and trends identified in the global industrial catalysts market include rapid industrialization, rising demand for chemicals, and increasing expenditure on research activities. Moreover, demand for industrial catalysts is predicted to witness a significant growth over the assessment period due to surging oil & gas industry. Rising crude oil production across the globe is anticipated to be an important driver for industrial catalysts market during the review period owing to the rising need for sulfur treated petroleum end products resulting into increasing demand for oil & gas industries.

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Increasing demand for basic chemicals & commodity chemicals to polymers & specialty chemicals is estimated to fuel the growth of the market. Furthermore, rapid industrialization coupled with increasing gross domestic product (GDP) in emerging economies is predicted to propel the growth of the market during the assessment period, 2017-2023. On the other hand, the negative impact of petrol refining process is that leave volatile organic compounds (VOCs) into the environment. In future, new laws and policies and coupled with increasing concern for the clean environment may hamper the growth of petrol refineries.

Intended Audience:

• Industrial catalysts manufacturers
• Traders and Distributors of industrial catalysts
• Production Process Industries
• Potential Investors
• Raw Material Suppliers
• Nationalized Laboratory

Segmentation:

The Global Industrial Catalysts Market is categorized on the basis of type, application, and region.

On the basis of the type, the market is bifurcated into homogeneous and heterogeneous.

On the basis of the substance, the industrial catalysts market is categorized into metallic, chemical, zeolite, organometallic, and others.

On the basis of the application, the market is segmented into petroleum refining, chemical manufacturing, environmental, food processing and others.

On the basis of the region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Regional Analysis:

The Middle East & Africa is predicted to grow at the higher CAGR during the review period on account of expanding oil & gas industry. The demand for industrial catalysts is predicted to surge in numerous countries of the Middle East & Africa such as Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait due to high adoption rate by the crude oil producers. Moreover, the presence of tremendous oil & gas reserves in this region is predicted to propel the growth of the market.

North American industrial catalysts market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate.

In the North American region, the U.S. is predicted to be the major contributor to the regional growth of the industrial catalysts market and is expected to see a significant demand for industrial catalysts during the forecast period. As of 2016, the U.S. accounted for one of the largest markets and is estimated to grow at a moderate CAGR due to growth in the production of crude oil.

Global Key Players:

BASF SE (Germany), Bayer AG (Germany), The Dow Chemical Company (U.S.), Akzo Nobel N.V. (the Netherlands), Clariant (Switzerland), Chevron Phillips Chemical Company LLC (U.S.), Exxon Mobil Corporation (U.S.), Haldor Topsøe A/S (Denmark), INEOS (U.K), and Honeywell International Inc. (U.S.).

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This release was published on openPR.