Transparency Market Research in its new report titled, “Chemical Processing Catalysts Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the chemical processing catalysts market. The new report anticipates that the rise in the increase in demand for catalysts in chemical manufacturing industries will drive the chemical processing catalysts market during the forecast period i.e, 2018-2026. Rapid urbanization and increase in automation are other factors likely to drive the chemical processing catalysts market. Rise in demand for non-renewable natural resources is expected to propel the demand for chemical processing catalysts in chemicals and pharmaceutical industries, says the report.
TMR predicts that developments in nanotechnology will provide opportunities in design and synthesis of nanostructured catalysts. These nanostructured catalysts would offer high surface area and exposed active sites. This would further lead to high catalytic activity in chemical processes. Additionally, investment in research and development activities to optimize the efficiency of catalysts and minimize their cost will offer lucrative opportunities to the chemical processing catalysts market during the forecast period, as per the report. However, TMR also discusses the market restraints such as fluctuation in prices of raw materials such as precious metals and their limited supplies that may hamper the chemical processing catalysts market in the near future.
The report has segregated the chemical processing catalysts market based on type, application, end-use and geography. According to type, the TMR report has split the chemical processing catalysts market into homogeneous, heterogeneous, biocatalysts, and others. Among these, the heterogeneous segment held majority share of the global chemical processing catalysts market in 2016. These catalysts are cost effective and widely used in chemical synthesis. In accordance with application, the chemical processing catalysts market is bifurcated into polymerization, oxidation, organic synthesis, hydrogenation, dehydrogenation, and others. The polymerization segment accounted for substantial share of the global chemical processing catalysts market in 2016, as per the report. Catalysts are being increasingly used in the chemical industry to produce plastic materials including polyethylene, polypropylene, polyethylene terephthalate, polyvinyl chloride, and polystyrene.
In terms of end-use, the chemical processing catalysts market is segregated into fine chemicals & intermediaries, petrochemicals, edible oils, oleochemicals, and others. The petrochemicals segment is projected to hold majority share of the global chemical processing catalysts market in the near future.
Based on regional perspective, the chemical processing catalysts market is categorized into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to expand at a rapid pace due to the rise in industrialization in countries such as China, Japan, and India. Furthermore, TMR expects the technological advancements coupled with developing infrastructure will be the major factors that boosting the demand for chemical processing catalysts in Asia Pacific. North America and Europe also constitute significant share of the chemical processing catalysts market due to the increasing demand for chemical processing catalysts in end-use industries.
Prominent players operating in the global chemical processing catalysts market are profiled in this report and these include Akzonobel N.V., Albemarle Corporation, BASF SE, Clariant, E.I. Du Pont De Nemours and Company, Evonik Industries AG, and Johnson Matthey.
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