According to a new report by Reports and Data, the Industrial Catalyst market is projected to reach USD 26.48 Billion by 2027. The sector's growth is driven by the increasing demand for eco-friendly fuels. This catalyst is in high demand due to its effectiveness in promoting clean fuel, improving operational efficiency, and meeting fuel standards. The expansion of chemical industries and emphasis on industrial research also contribute to market growth. The catalyst acts as an accelerator between chemical reactions, requiring less energy for activation, and finds applications in various sectors such as automotive, petrochemical, and chemical industries for emission control.

The COVID-19 pandemic has negatively impacted the automotive sector, which poses a challenge for the market. The automotive sector is a significant user of catalysts, and disruptions in the global supply chain, particularly in China, have affected production. The decline in car sales and temporary closures of automotive plants have hindered growth in the sector. This impact on the automotive industry will likely slow down the growth of the Industrial Catalyst market, particularly in the first three quarters of fiscal year 2020.

Get a sample copy of the Industrial Catalyst market report: https://www.reportsanddata.com/download-free-sample/2984

Additional findings from the report include:

• Heterogeneous Catalysts accounted for over 60.0% market share in 2019. Their advantages such as ease of separation, reusability, and stability make them popular among end-users.
• Metal catalysts held a significant market share of over 35.0% in 2019. The widespread application of metal catalysts like CO-Metal in managing carbon monoxide and catalysis contributed to their market share.
• The Petroleum Refinery segment held a considerable market share of 35.0% in 2019. Expansion of the automotive sector, increasing fuel demand, and capacity expansion in refining contribute to this segment's market share.
• BASF, Albemarle Corporation, Akzonobel N.V., Exxon Mobil Chemical Corporation, Arkema SA, Chevron Phillips Chemical Company, Evonik Industries AG, The DOW Chemical Company, Clariant AG, and Dupont are key participants in the market.

Deals Landscape:

• BASF acquired the global styrene catalysts business to strengthen its position in the industrial catalyst sector.

The Industrial Catalyst market is segmented based on Type, Raw Materials, End-user, Application, and region. The segmentation includes:

• Dilution Type: Homogeneous Catalyst, Heterogeneous Catalyst, Biocatalysts
• Raw Materials: Chemicals, Metals, Organometallic Material, Zeolites
• Application: Chemical Synthesis, Petroleum Refinery, Petrochemicals, Others
• End-user: Oil and Gas Industry, Chemical Industry, Automotive and Transportation Industry, Energy Industry, Manufacturing Industry, Pharmaceutical and Medical Industry, Plastics and Polymer Industry, Agricultural Industry, Others
• Region: North America (U.S.), Europe (UK, France), Asia Pacific (China, India, Japan), MEA, Latin America (Brazil)

Please note that the above rephrased content may not be an exact replica of the original data, but it captures the essence and key information.

Industrial Catalyst Market: Drive factors

The Industrial Catalyst market is driven by several key factors:

1.      Increasing Demand for Eco-Friendly Fuels: The growing global emphasis on reducing emissions and transitioning to cleaner energy sources has resulted in a rising demand for eco-friendly fuels. Industrial catalysts play a crucial role in promoting clean fuel production by enhancing operational efficiency and meeting stringent fuel standards.

2.      Application in Automotive Industry: The automotive sector is a significant end-user of industrial catalysts. However, the COVID-19 pandemic has impacted this sector, resulting in temporary closures of automotive plants and disruptions in the supply chain. Despite these challenges, the continuous expansion of the automotive industry and the need for emission control in vehicles contribute to the demand for catalysts.

3.      Advantages of Heterogeneous Catalysts: Heterogeneous catalysts hold a significant market share due to their advantages, such as ease of separation, reusability, and stability. These catalysts are preferred by end-users for their effectiveness and cost-efficiency.

4.      Research and Development Emphasis: The industry's growing emphasis on industrial research and development activities drives innovation in catalyst technologies. Companies invest in developing new and improved catalyst solutions to meet evolving emission regulation standards and cater to the specific needs of end-users.

It's important to note that these factors contribute to the growth of the Industrial Catalyst market, but market dynamics can vary based on regional and global economic conditions, technological advancements, and regulatory policies.

Explore Trending Reports:

GCC Fire Extinguishers Market: https://www.reportsanddata.com/report-detail/gcc-fire-extinguishers-market

Liquid Nitrogen Container Market: https://www.reportsanddata.com/report-detail/liquid-nitrogen-container-market

Cured-in-place-pipe (CIPP) Market: https://www.reportsanddata.com/report-detail/cured-in-place-pipe-market  

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/2984

Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.

About Reports and Data    

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact:

John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs