Catalyst Carriers Market size is forecast to reach $335.1 million by 2025, after growing at a CAGR of 6.5% during 2020-2025. The market is witnessing growth due to the increasing usage in petroleum derivatives and growing energy demand in fast-growing emerging economies. Stringent environmental regulation pertaining to petroleum treatment and demand for efficient catalysts across all industrial verticals is also increasing the consumption of catalyst carriers.

Key Takeaways

The research and development operation going onto develop innovative catalyst carriers to increase the mechanism of action and development of cost-effective catalysts are likely to provide opportunities for the catalyst carrier market in upcoming years.

The COVID-19 outbreak across the globe have affected the manufacturing process due and increases the manufacturing cost. In addition, the use of rare-earth metals has also become the major factor to hinder the growth of the market.

Geography - Segment Analysis

APAC region is projected to be the fastest growing market for catalyst carriers. Significant economic development has contributed to the growth of the region's manufacturing sector that has guided the growth of the chemical, oil & gas, and automotive industries. Low cost of production, easy access to skilled workforce at low cost, and high investment in capacity expansion in these industries in the area is further expected from government initiatives such as FCI. The growth of catalyst carriers market in the area is expected to drive these factors.

Key Takeaways

The research and development operation going onto develop innovative catalyst carriers to increase the mechanism of action and development of cost-effective catalysts are likely to provide opportunities for the catalyst carrier market in upcoming years.

The COVID-19 outbreak across the globe have affected the manufacturing process due and increases the manufacturing cost. In addition, the use of rare-earth metals has also become the major factor to hinder the growth of the market.

Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=500021

Drivers – Catalyst Carriers Market

Inflexible rules related to petroleum treatment

The International Energy Agency (IEA) has predicted that between 2000 and 2050 fuel consumption and CO2 emissions from the world's vehicles would approximately double. CO2 emissions from the combustion of fossil fuels will rise by 45 per cent from 2006 to 2030, with 97 per cent of this rise occurring in non-OECD countries. One-fifth of this rise is the product of GHG emissions from global transport–98 percent of which will occur in non-OECD countries. To promote global reductions of the transport sector's CO2 emissions, technological progress will need to go hand in hand with supporting policies. New environmental regulations to minimize air pollution by lowering gasoline sulfur content and ultra-low diesel sulfur content (ULSD) have enabled the petroleum treatment process, which in turn relies on the form of catalyst and material used in the refining process. Catalysis is a major factor in the refining of petroleum, as the process after crude unit is catalytic. In the presence of hydrogen and metallic catalysts, for example, gasoline with low aromatic content (benzene / naphthalenes) is produced after alkylation of light olefins with isobutane. Thus, the use of catalyst with a carrier is essential for efficient conversion to obtain high product yield. This is expected to boost the catalyst carrier market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Catalyst Carriers market. Catalyst Carriers Market top 10 companies are CeramTec GmbH (Germany), Saint-Gobain (France), W. R. Grace & Co. (US), CoorsTek Inc. (US), Cabot Corporation (US), Almatis GmbH (Germany), Sasol Ltd. (South Africa), Evonik Industries (Germany), NORITAKE CO., LIMITED (Japan), and Magma Ceramics & Catalysts (UK), among others.

About IndustryARC : IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.