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Nanocatalysts Market Growth and Forecast Analysis (2023-2026): A Comprehensive Study on Global Industry Trends and Future Prospects
Nanocatalysts Market
Nanocatalysts are catalysts that contain nano-sized particles or structures. They have high surface area, high reactivity, and can be tuned to specific reactions. The global nanocatalysts market is expected to grow at a CAGR of 10.2% during the forecast period (2021-2026). The market size is expected to reach USD 7.2 billion by 2026 from USD 4.3 billion in 2021.
Nanocatalysts are catalysts that contain nanoparticles. It has at least one nanoscale substance, or occasionally it has modified the nanoscale structure to improve catalytic properties. Without being consumed or undergoing long-term physical or chemical changes within themselves, catalysts are used to speed up or slow down the rate of change of chemical reactions.
Nanocatalysts are used in a variety of applications including chemical, oil and food processing, pharmaceutical, oil and refining industries. Nanocatalysts add more surface area to the reaction rate. Catalyst materials, which are typically non-catalytic when present in bulk, can become catalytic when reduced to the nanoscale. In addition, custom catalyst design specifications are provided through nanotechnology to enable flawless selectivity in a catalyst-based reaction.
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Nanocatalyst materials are used in a variety of processes in the oil and gas industry, including coal liquefaction, biodiesel and ethanol production, heavy oil processing, oil spill cleanup, desulfurization, rectification, and catalytic cracking of petroleum. To reduce the emission of toxic gases, nanocatalysts are also used in the removal of various impurities from petroleum, such as sulfur, nitrogen and other metals.
The use of a nanocatalyst also improves some of the most important physical properties of oil and gases, such as friction properties and overall temperature stability of the petroleum products. It also reduces octane and sulfur levels in fossil fuels to reduce the carbon footprint and increase the viscosity of the petroleum product.
On the basis of nanocatalyst chemical properties, the global nanocatalyst market can be segmented into four distinct categories namely nanoparticulate catalysts, nanoporous catalysts, nanocrystalline catalysts and supramolecular catalysts.
Based on the end-user application of nanocatalysts, the nanocatalysts market can be roughly segmented into refinery, petrochemical, chemical industry, pharmaceutical, food processing, and environmental applications. The refining industry captured the largest market share among all other nanocatalyst end-user application segments in 2013, while the environmental applications segment showed the fastest growth in 2013.
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Increasing global demand for low-cost renewable energy sources, growing awareness of carbon footprint reduction coupled with depletion of fossil fuel resources are some of the key drivers of nanocatalyst market.
Additionally, the various performance and cost benefits associated with nanocatalysts make them a popular alternative to traditional catalysts in the food and beverage industry, which in turn drives the nanocatalyst market. The development of low-cost metal nanocatalysts with superior performance in chemical processing offers new growth opportunities for the nanocatalyst material, especially in the chemical industry.
Asia Pacific is the largest market for nanocatalysts, followed by North America and Europe. Asia Pacific is also the fastest growing nanocatalyst market attributed to the growing related industries such as pharmaceuticals, food and beverage, and oil and refining, which in turn are supporting the nanocatalyst market in this region.
Some of the major companies operating in the global nanocatalyst market are Argonide Corporation, Bayer Ag, BASF Catalyst LLC, Catalytic Solution, Inc., Genencor International, Inc., Evonik Degussa GmbH, Headwaters Nanokinetix, Inc., Johnson Matthey Plc., Mach I, Inc., Nanophase Technologies Corporation, Hyperion Catalysis International, NanoScale Corporation, Oxonica, PQ Corporation, NexTech Materials Ltd., Sachtleben Chemie GmbH, Zeolyst International and Umicore.
Key regions assessed in this report are:
• North America
• U.S
• Canada
• Europe
• France, Germany, Italy, Spain, and the UK
• Eastern Europe
• CIS
• APAC
• China
• India
• Japan
• Australia
• Others
• Latin America
• Argentina
• Brazil
• Others
Main features of this report
• Drivers, restraints, and challenges shaping Nanocatalysts market dynamics
• Latest innovations and major events in the industry
• Analysis of the business strategies of the top players
• Nanocatalyst Market Estimates and Forecasts (2015-2021)
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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'.
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