Segmentation:

The Global Industrial Catalysts Market is categorized based on Type, Application and Region.

Based on Type, the market is bifurcated into homogeneous and heterogeneous.

Based on Substance, the Industrial Catalysts Market is categorized into metallic, chemical, zeolite, organometallic, and others.

Based on the Application, the market is segmented into petroleum refining, chemical manufacturing, environmental, food processing and others.

Based on the Region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

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Key Players:

Some of the prominent players operating in the Global Industrial Catalysts Market are BASF SE (Germany), Bayer AG (Germany), The Dow Chemical Company (U.S.), Akzo Nobel N.V. (the Netherlands), Clariant (Switzerland), Chevron Phillips Chemical Company LLC (U.S.), Exxon Mobil Corporation (U.S.), Haldor Topsøe A/S (Denmark), INEOS (U.K), and Honeywell International Inc. (U.S.), among others.

Regional Analysis:

The Global Industrial Catalysts Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. The Middle East & Africa is predicted to grow at the higher CAGR during the review period on account of expanding oil & gas industry. The demand for Industrial Catalysts is predicted to surge in numerous countries of the Middle East & Africa such as Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait due to high adoption rate by the crude oil producers. Moreover, the presence of tremendous oil & gas reserves in this region is predicted to propel the growth of the market.

North American Industrial Catalysts Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In the North American region, the U.S. is predicted to be the major contributor to the regional growth of the Industrial Catalysts Market and is expected to see a significant demand for Industrial Catalysts during the forecast period. As of 2016, the U.S. accounted for one of the largest markets and is estimated to grow at a moderate CAGR due to growth in the production of crude oil. In Europe, the demand for Industrial Catalysts is predicted to grow in various countries such as Italy, Germany, Spain, the U.K, France, and Russia on account of increased expenditure in innovation and growing purchasing power of consumers. Moreover, the presence of major basic chemical manufacturers specifically in Germany is expected to give momentum to the market growth. Among Latin American countries, GDP shrank again in the wake of the various crises, especially, due to the strong recession in major countries such as Brazil. Investments are being postponed and foreign direct investments are backing out is directly influencing the investment on industrial catalysts. The Asia Pacific Industrial Catalysts Market is predicted to grow at a moderate CAGR due to developing crude oil processing and expanding petroleum refineries in India and China. Moreover, continuous growth of basic chemicals industries in various economies of the Asia Pacific such as China, India, Malaysia, Thailand and Japan is expected to experience a higher demand for synthetic lubricants, which, in turn, is predicted to fuel the demand for industrial catalysts over the forecast period, 2017-2023.

Synopsis of Industrial Catalysts Market:

Industrial Catalysts are substances that speed up reactions by providing an alternative pathway for the breaking and making of bonds. They are used to improve the industrial chemical process yield. For instance, with the use of a catalyst is possible to lower the temperature and the pressure at which the process operates and thus save the required fuel. Furthermore, it is possible to reduce the number of reactants that are wasted forming unwanted by-products. Industrial Catalysts have major applications in the oil & gas industry.

As per our analysis, some of the prominent market factors and trends identified in the Global Industrial Catalysts Market include rapid industrialization, rising demand for chemicals, and increasing expenditure on research activities. Moreover, demand for industrial catalysts is predicted to witness a significant growth over the assessment period due to surging oil & gas industry. Rising crude oil production across the globe is anticipated to be an important driver for industrial catalysts market during the review period owing to the rising need for sulfur treated petroleum end products resulting into increasing demand for oil & gas industries.

Increasing demand for basic chemicals & commodity chemicals to polymers & specialty chemicals is estimated to fuel the growth of the market. Furthermore, rapid industrialization coupled with increasing gross domestic product (GDP) in emerging economies is predicted to propel the growth of the market during the assessment period, 2017-2023. On the other hand, the negative impact of petrol refining process is that leave volatile organic compounds (VOCs) into the environment. In future, new laws and policies and coupled with increasing concern for the clean environment may hamper the growth of petrol refineries.

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