Catalysts are supplementary chemicals compounds that are added in small amounts to increase the rate of chemical reaction. Catalyst does not undergo any type of chemical changes in them. Catalyst reduces reaction time and energy required to complete a chemical reaction.Rising demand for clean fuels is one of the most important driving factors for the catalyst market in refineries.
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Based on the product type, the global catalyst market can be broadly segmented as, heterogeneous catalyst and homogeneous catalyst. On the bases of material type the global catalyst market can be broadly segmented as zeolites, metals, and chemical compound.
Catalyst is one of the most important areas of chemical industry, where increasing investment in research and development is observed even during the economic slowdown.
Asia Pacific was the largest and fasted growing market of catalyst in 2014. The market dominance of Asia Pacific is attributed to the presence of large number of refineries in India and China: two major importer of crude oil in the world. In addition, the rising number of vehicles and increasing demand of plastic from the developing countries of Asia Pacific is also driving the catalyst market.
Catalyst is one of the most important areas of chemical industry, where increasing investment in research and development is observed even during the economic slowdown.
Asia Pacific was the largest and fasted growing market of catalyst in 2014. The market dominance of Asia Pacific is attributed to the presence of large number of refineries in India and China: two major importer of crude oil in the world. In addition, the rising number of vehicles and increasing demand of plastic from the developing countries of Asia Pacific is also driving the catalyst market.
The significant growth of catalyst is also expected from the major oil producing countries of Middle-East; considerable expansion of the oil production from this region is expected in coming years. In Latin America, Brazil is expanding their nameplate capacity of refineries, which is expected to drive the catalyst market during the forecast period.
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Some of the major players operating in catalyst market include, Dow Chemical Company, DuPont (EI) de Nemours, Evonik Industries AG, Eastman Chemical Company, Criterion Catalysts & Technologies, Exxon Mobil Corporation, Fábrica Carioca de Catalisadores, Febex, FMC Corporation, Haldor Topsøe A/S, Johnson Matthey plc, Mitsubishi Gas Chemical Company Incorporated, BASF SE.
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