Catalyst Carriers Market is Growing Exponentially in Order to Gain More Demand by 2023

Posted January 27, 2020 by armaan007

Catalyst Carriers Market expected to reach 151.8 kilotons by 2023, at a CAGR of 4.6%, over 2018–2023

According to a new market research report "Catalyst Carriers Market By Product Type (Ceramics, Activated Carbon, Zeolites), Shape/Composition (Sphere, Porous, Ring, Extrudate, Honeycomb), End-use Industry (Oil & Gas, Chemical Manufacturing, Automotive), and Region - Global Forecast To 2023", published by MarketsandMarkets™, the global market is estimated to be 121.2 kilotons in 2018 and is projected to reach 151.8 kilotons by 2023, at a CAGR of 4.6%. The market is witnessing growth due to the increasing use of catalyst carriers in the petroleum refining in oil & gas industry. Stringent regulations associated with petroleum treatment is also expected to drive the consumption of catalyst carriers during the forecast period.

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Ceramics catalyst carriers is estimated to be the largest product type segment of the market in 2018. 

Ceramics is estimated to be the largest product type of catalyst carriers consumed in 2018. The growth in ceramics catalyst carriers is owing to their extensive use in refineries, synthesis of gas, and other petrochemical processes. They are generally used as adsorbent or desiccant beds in the desulfurization or hydroprocessing procedures.

Spherical catalyst carriers is estimated to be the largest shape/composition segment of the catalyst carriers market in 2018. 

Spherical catalyst carriers is estimated to be the largest shape/composition segment of the catalyst carriers market in 2018. Their growing preference over other catalyst carriers due to their high stiffness, low thermal expansion, lightweight, increased corrosion resistance, and higher electrical resistance than its counterparts is driving their demand.

Oil & gas end-use industry segment is estimated to lead the catalyst carriers market in 2018. 

Based on end-use industry, oil & gas is estimated to be the largest segment of the catalyst carriers market in 2018. The use of catalyst carriers in various catalytic reactions in the petrochemical production is expected to drive their consumption. Catalyst carriers are used to enhance the mechanical strength and efficiency of a catalyst.

North America is estimated to be largest catalyst carriers market in 2018. 

North America is estimated to be the largest Catalyst Carriers Market, in terms of volume, in 2018. The demand for catalyst carriers is mainly propelled by the presence of refinery catalyst manufacturing companies in the region. The presence of major refining catalyst manufacturers, such as Albemarle Corporation and W.R. Grace & Co. in the US, is increasing the consumption of catalyst carriers. Moreover, the growing production of shale oil in the US is expected to increase the refining capacities, leading to an upsurge in demand for catalyst carriers in the region.

Catalyst carrier manufacturers such as 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 AG (Germany), NORITAKE CO., LIMITED (Japan), and Magma Ceramics & Catalysts (UK) have been covered in the report.

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