Catalyst Market Overview, Segment Analysis, Growth Opportunities and Forecast to 2023

Catalysts are supplementary chemicals compounds that are added in small amounts to increase the rate of chemical reaction. Catalyst does not undergo any type of chemical changes in them. Catalyst reduces reaction time and energy required to complete a chemical reaction.

catalyst market can be broadly segmented as, heterogeneous catalyst and homogeneous catalyst. On the bases of material type the global catalyst market can be broadly segmented as zeolites, metals, and chemical compound.

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catalyst the market can be segmented as refinery, chemical synthesis, polymer and environment. Chemical compound has been the largest segment of the catalyst market in 2014. The segment is also expected to witness considerable growth during the forecast period, attributed to its cost-effective working capacity, as compared to other type of catalyst. Based on the product type, heterogeneous catalyst has been the largest segment in 2014.

Asia Pacific was the largest and fasted growing market of catalyst in 2014. The market dominance of Asia Pacific is attributed to the presence of large number of refineries in India and China: two major importer of crude oil in the world. In addition, the rising number of vehicles and increasing demand of plastic from the developing countries of Asia Pacific is also driving the catalyst market. India, China and Japan are some of the major markets of catalyst in Asia Pacific.

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India, China and Japan are some of the major markets of catalyst in Asia Pacific. The significant growth of catalyst is also expected from the major oil producing countries of Middle-East; considerable expansion of the oil production from this region is expected in coming years. In Latin America, Brazil is expanding their nameplate capacity of refineries, which is expected to drive the catalyst market during the forecast period. North America is also expected to grow at a healthy pace owing to gain in chemical and polymer production as manufacturers benefit from low natural gas prices.

Some of the major players operating in catalyst market include, Dow Chemical Company, DuPont (EI) de Nemours, Evonik Industries AG, Eastman Chemical Company, Criterion Catalysts & Technologies, Exxon Mobil Corporation, Fábrica Carioca de Catalisadores, Febex, FMC Corporation, Haldor Topsøe A/S, Johnson Matthey plc, Mitsubishi Gas Chemical Company Incorporated, BASF SE, Akzo Nobel NV, Arkema SA, Bayer AG, Borealis AG, Chevron Corporation, Chevron Phillips Chemical Company LLC, China Petroleum & Chemical Corporation and Akzo Nobel NV.

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