Catalyst Market Research by Products & Services, Components & Geography

On the basis of type, the catalyst market is bifurcated into homogeneous and heterogeneous catalysts. Mostly, heterogeneous catalysts are solids and can be added into solid or liquid reaction mixtures. The market for heterogeneous catalysts is projected to witness faster growth, during the forecast period. This is due to the traditional favorability of the compound, owing to its easily separable nature from reactants so that the recovery process becomes straightforward and purification steps are minimized.

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On the basis of application, the catalyst market is classified into petroleum refining, chemical synthesis, and polymer formulation. Petroleum refining is expected to be the largest application category, both in terms of value and volume in the market in the coming years, due to increasing demand for catalysts in manufacturing of fuels and other petroleum products. The importance of using catalysts has increased primarily due to the increased demand for fuels and implementation of environmental norms in industries like automotive and polymers industries.

World environmental regulations also have a major impact on the catalyst market where industries have to maintain the quality of final products at certain benchmarks. For example, EURO VI norms have had a huge impact on petroleum industry where they have to reduce the contents of nitrogen oxides, total hydrocarbon, non-methane compounds, carbon monoxide, and particulate matter. For such regulations, industries have to use catalysts for a process like catalytic reforming, fluidized catalytic cracking, hydrocracking, and others.

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Major players operating in the catalyst market are Albemarle Corporation, BASF SE, Chevron Phillips Chemical Company LLC, Clariant AG, DowDuPont Inc., Evonik Industries AG, ExxonMobil Chemicals Co., Johnson Matthey, INEOS AG, and WR Grace & Co.

The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Russia, Japan, China, India, Indonesia, Brazil, Saudi Arabia, and South Africa.

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