Demand for Refinery Catalyst Market to Reach US$24.1 billion by 2018

Transparency Market Research (TMR) has announced the release of a new report added to its market intelligence catalog on the chemical and materials sector. The report examines the global refinery catalysts market and presents actionable insights into the market’s expected trajectory in the coming years. The report is titled ‘Refinery Catalyst Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018’ and is available for sale on the official website of TMR.According to the report, the global market for refinery catalysts is expected to exhibit a steady 3.9% CAGR from 2012 to 2018. The market was valued at US$19.2 bn in 2011 and is likely to rise to a valuation of US$24.1 bn by 2018.

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Catalysts are substances added to a chemical reaction to alter the rate at which the reaction takes place. Catalysts can either speed up or slow down the reaction, with former being known as positive catalysts and the latter as inhibitors. The unique role of catalysts in a chemical reaction is that they don’t participate in the reaction, but bring about conditions that alter the rate of the reaction.

By application, the global catalysts market is segmented into environmental applications, petroleum refineries, polymerization, and chemical synthesis. Of these, the environmental applications segment emerged as the fastest growing market segment in 2011 and is likely to exhibit steady growth over the forecast period. The increasing government support to environmental applications and the rising global awareness about the environmental impact of human activities are responsible for the expected growth rate of the segment.

The increasingly stringent regulations limiting emissions and mandating waste treatment before disposal are another major driver for the environmental catalysts market. In light of the importance of environmental protection regulations to the catalysts market, innovation of biobased catalysts is expected to emerge as a promising opportunity in the global catalysts market in the coming years.

According to material, the global catalysts market is segmented into chemical compounds, metals, zeolites, and others. Of these, the chemical compounds segment dominates the global catalysts market and is likely to retain the top spot in the market in the coming years. The expected expansion of the chemicals industry and the increasing demand for petroleum refineries are among the major drivers for the chemical compounds segment.

Regionally, Asia Pacific is the largest market for catalysts, followed by North America and Europe. The expanding chemical, petrochemical, and oil and gas industries in Asian giants such as China are primarily responsible for the dominant performance of the APAC catalysts market.

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Apart from a granular analysis of all segments of the global catalysts market, the report also takes into account the competitive landscape of the market and profiles major players to provide a clear overview of the competitive dynamics of the global catalysts industry. Key players analyzed in the report include BASF SE, Johnson Matthey, Haldor Topsoe, W R Grace, Honeywell, and Albemarle Corporation.]

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This release was published on openPR.