Global Industrial Catalysts Market 2016-2020
About the Industrial Catalysts Market
Catalysts accelerate a chemical reaction by providing an alternative route with lower activation energy. This results in a higher reaction rate for the same reactant concentrations and at the given temperature compared with uncatalyzed reactions.
Industrial catalysts are used extensively in industrial processes, including petroleum refining, chemical synthesis, petrochemicals and polymers, environment protection reactions, and during the production of petrochemical products.
Technavio’s analysts forecast the global industrial catalysts market to grow at a CAGR of 5.2% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial catalysts market for 2016-2020.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Catalysts Market 2016-2020
Technavio recognizes the following companies as the key players in the global industrial catalysts market: Albemarle, Arkema, BASF, Clariant, Evonik Industries, and Exxon Mobil.
Other Prominent Vendors in the market are: Borealis, Chemtura, Dow Chemical, DuPont, FMC, Grace (WR) & Company, Honeywell UOP, LyondellBasell, and Zeolyst International.
Commenting on the report, an analyst from Technavio’s team said: “A trend boosting market growth is the growing application of zeolites in the agricultural sector. The application of zeolite has been increasing across many segments due to its unique features. In the agricultural sector, zeolite is primarily used for odor control, confined animal environmental control, and livestock feed additives.”
According to the report, a key growth driver is the rising demand for petroleum products. Petroleum-based fuels contribute to approximately one-third of the total energy consumption globally. Diesel, gasoline, kerosene, jet fuel, and fuel oil are the most widely consumed fuels. The transportation segment accounts for more than 55% of the total consumption share; power generation and industrial segments account for the remaining shares.
Further, the report states that one challenge that could hamper market growth is varying regulations in different countries.
Albemarle, Arkema, BASF, Clariant, Evonik Industries, Exxon Mobil, Borealis, Chemtura, Dow Chemical, DuPont, FMC, Grace (WR) & Company, Honeywell UOP, LyondellBasell, Zeolyst International.