888-776-0942 from 8 AM - 10 PM ET
NEW YORK , Dec. 17, 2021 /PRNewswire/ -- The catalyst market size will grow by USD 5.80 billion between 2021 and 2026, accelerating at a CAGR of 4.20% during the forecast period. The market is segmented by type (heterogeneous catalyst and homogeneous catalyst) and geography (APAC, North America , Europe , South America , and MEA). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.
Purchase our full report on the catalyst market for a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. Read our Free Sample Report before purchasing.
Key takeaways from catalyst market study
Catalyst Market: Growth Drivers and Restraints
Rising industrialization in emerging economies The rising rate of industrialization in emerging economies is one of the key drivers influencing the market's growth during the forecast period. Catalysts are used in various industries, including oil and gas, polymer synthesis, chemicals, and consumer goods. Hence, the growth of the market in focus is highly influenced by the growing rate of industrialization across the world, especially in emerging economies. The rising number of consumer goods companies and polymer production companies in APAC is another factor that will significantly trigger the demand for catalysts used in these industries during the forecast period.
Stringent regulations and policies Stringent regulations by the US Environmental Protection Agency (EPA) and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) on the volatile organic compound (VOC) content of specialty chemicals, such as catalysts used in paints and coatings, adhesives, and sealants, are a significant challenge to the growth of the global catalyst market. VOC limit on the usage of a variety of products including catalysts, adhesives, and sealants in industrial and commercial applications will hamper the catalyst market growth during the forecast period.
"Although the increasing growth of the refinery industry and rising applications in end-use sectors will further boost the market growth, concerns regarding declining crude oil reserves and fluctuation in prices of raw materials might limit the growth opportunities for market players", says an analyst at Technavio.
For more insights on the trends influencing the market's growth, Download Sample Now!
Catalyst Market: Vendor Analysis The catalyst market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Vendors are launching new products and engaging in M&As to strengthen their market position during the forecast period.
For instance, In October 2021 , Albemarle Corp. introduced Action Plus catalyst technology, next-generation butylene yields, and gasoline octane. In November 2021 , BASF SE partnered with Pentel to launch erasers made with non-phthalate plasticizers under brand alliance in the Japanese and global markets. In July 2021 , Clariant International Ltd. successfully established a joint venture for renewable ethylene oxide derivatives with India Glycols.
Some other companies covered in this catalyst market analysis report:
Need More Highlights on Competitive Benchmarking and Vendor Analysis, Request FREE Sample
The catalyst market report answers questions such as:
Get all your questions answered in our full report. Gain confidence by Downloading Our Free Sample Report
Related Reports: Organic Pigments Market by Type, Application, and Geography - Forecast and Analysis 2021-2025 Polyols Market by Type, Application, and Geography - Forecast and Analysis 2021-2025
Accelerate at a CAGR of 4.20%
APAC, North America, Europe, South America, and MEA
US, China, Germany, Brazil, and India
Leading companies, competitive strategies, consumer engagement scope
Albemarle Corp., BASF SE, Chevron Phillips Chemical Co. LLC, Clariant International Ltd., Dorf Ketal Chemicals (I) Pvt. Ltd., Dow Inc., Evonik Industries AG, Exxon Mobil Corp., Johnson Matthey Plc, and W. R. Grace and Co.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com
More news releases in similar topics
Cision Distribution 888-776-0942 from 8 AM - 9 PM ET