July 13, 2016 - 3:40 PM EDT
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Growing Demand from APAC Predicted to Drive the Global Industrial Catalyst Market Through 2020, Says Technavio

According to the latest research study released by Technavio, the global industrial catalyst market is expected to reach over USD 22 billion by 2020.

This research report titled ‘Global Industrial Catalyst Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. The report also presents the vendor landscape and a corresponding detailed analysis of the six prominent vendors operating in the market.

Request sample report: http://bit.ly/29kmB4b

“The markets in Asia and the Middle East will grow rapidly over the next four years. China and India will dominate the market in Asia owing to rapid industrialization and growth in the refining, chemical and polymer industries. Increased income levels, vehicle ownership rates, and industrial activity in China will also fuel the demand growth for catalysts,” said Chandrakumar Badala Jaganathan, one of Technavio’s lead analysts for specialty chemicals.

Global industrial catalysts market by applications 2015

• Petroleum refinery

    22.1%

• Chemical synthesis

17.6%

• Petrochemicals and polymers

21.91%

• Others

25.99%

Source: Technavio research

Global industrial catalysts market in petroleum refinery segment

The global industrial catalysts market in the petroleum refinery segment was valued at USD 5.31 billion in 2015. The expansion of refinery capacity and an increased demand for fuels are driving the consumption of industrial catalysts in the petroleum refinery segment. The Middle East and Africa (MEA) and APAC exhibit a high demand for these catalysts owing to the growth in end-user industries in the region while the demand from Europe is declining.

Refiners are focusing on reducing residue feedstock yield using hydroprocessing catalysts, as the prices of petroleum products are increasing globally. Further, strict environmental regulations are influencing the heavier crude processing and sulfur elimination process.

Global industrial catalysts market in chemical synthesis segment

The global industrial catalyst market in the chemical synthesis segment was valued at USD 3.89 billion in 2015. Catalysts are used at some stage in the manufacturing process of 90% of chemical products. Large-scale chemicals are manufactured by catalytic oxidation. For instance, nitric acid from ammonia, terephthalic acid from p-xylene, acrylonitrile from propane and ammonia, and sulfuric acid from sulfur dioxide to sulfur trioxide by the lead chamber process.

Other chemical products are produced as a result of large-scale reduction by hydrogenation. For instance, ammonia is produced by the Haber process from nitrogen while methanol is produced from carbon monoxide. Many fine chemicals are produced by catalysis through sophisticated techniques and specialized methods that are expensive such as olefin metathesis by Grubbs' catalyst, Friedel-Crafts reactions, and the Heck reaction. Many pharmaceuticals are produced by enantioselective catalysis (catalytic asymmetric synthesis) as most bioactive compounds are chiral.

Global industrial catalysts market in petrochemicals and polymers segment

The global industrial catalysts market in the petrochemicals and polymers segment was valued at USD 3.87 billion in 2015. Bulk polymers produced by ethylene and propylene are manufactured by Ziegler-Natta catalysis. Polyesters, isocyanates, and polyamides are derived by acid-base catalysis. Most carbonylation processes like the Monsanto acetic acid process and hydroformylation require metal catalysts.

APAC dominates the market for industrial catalysts in the petrochemical and polymer segment, followed by North America and Europe. The developing countries in South America and APAC will increase their market share during the forecast period.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
[email protected]


Source: Business Wire (July 13, 2016 - 3:40 PM EDT)

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