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|Catalyst Market Outlook and Forecast up to 2024: Grand View Research Cheap Josh Anderson Hat , Inc. Business Articles | July 15, 2016
Grand View Research has announced the addition of "Catalyst Market Analysis and Segment Forecasts To 2024" Market Research report to their Database.
The global?catalyst market?is expected to reach USD 34.3 billion by 2024, according to a new report by Grand View Research, Inc. The accelerating use of catalysts for reducing the cost of manufacturing chemicals, petrochemicals and polymers are expected to remain a favorable factor. Also Cheap Nick Foligno Hat , rising application of catalytic reforming and fluidized bed catalytic cracking for enhancing the yield of light cut and medium cut oils may promote the use of the product over the next eight years.
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In terms of volume, chemical synthesis is expected to witness growth at a CAGR of 3.5% from 2016 to 2024. In September 2014, the Government of India proposed the “Draft National Chemical Policy” which is intended for increasing the country’s global chemical output share from 3% in 2014 to 6% by 2020. The mentioned government initiative about the improvement of the chemical production output in India is expected to open new avenues for growth over the next eight years.
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Further key findings from the study suggest:
The market for chemical compounds as catalysts are expected to foresee volume growth at a CAGR of 4.2% from 2016 to 2024. Rising application of amine catalyst for the production of polyurethane foam on account of enhancing the rate of reaction between polyols and polyurethane is expected to have a positive impact in the near future. Moreover, increasing requirement of polyurethane (PU) foams is projected to augment demand for catalysts over the forecast period. Catalyst demand in petrochemicals & polymers was 1,419.1 kilo tons in 2015. Rising demand for engineering plastics including polyether ether ketone (PEEK) in automotive Cheap David Savard Hat , aviation, electronics and energy sectors is expected to result in fuelling requirement of the accelerator. Asia Pacific is projected to remain the fastest-growing market, witnessing growth at a CAGR of 5.3% from 2016 to 2024. High prevalence of active pharmaceutical ingredients (API) manufacturers in China on account of easy access to chemicals is expected to increase use of the product over the next eight years. Latin America market was valued at USD 1.53 billion in 2015. In October 2015, Columbia-based Ecopetrol announced plans to expand the refining capacity at its Barrancabermeja plant. The capacity expansion will be completed by the end of 2018 and may open new opportunities for growth over the next eight years. Major market players include Albemarle Corporation, BASF Cheap Oliver Bjorkstrand Hat , ExxonMobil, W.R. Grace & Company, Johnson Matthey and AkzoNobel N.V. Increasing expenditure for the development of emission control catalyst on account of rising awareness towards environmental protection in the automotive sector is expected to remain critical success factor over the next eight years.?
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Grand View Research has segmented the global catalyst market by raw material, product, application and region:
Raw Material Outlook (Volume Cheap Ryan Murray Hat , Kilo Tons; Revenue, USD Million, 2013 - 2024)
Zeolites Metals Base Metals Precious Metals Chemical Compounds Peroxide Acid Amines & Others Others
Product Outlook (Volume, Kilo Tons; Revenue, USD Million Cheap Sonny Milano Hat , 2013 - 2024)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
Petroleum refining FCC Alkylation Hydrotreating Hydrocracking Catalytic Reforming Chemical synthesis Polyolefins Adsorbents Chemical Catalysts Others Polymer Ziegler-Natta Reaction Initiator Urethane Chromium Single-site Others Environmental Light duty vehicles Heavy duty vehicles Motorcycles Others
Regional Outlook (Volume, Kilo Tons; Revenue Cheap Cam Atkinson Hat , USD Million, 2013?-?2024)
North America U.S. Mexico Canada Europe Germany UK France Italy Asia Pacific China Japan South Korea India Latin America Brazil MEA
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