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A comprehensive industry overview and market perspective are included in the latest study from MarkNtel Advisors titled Global Catalyst Market. The research provides a detailed overview of the current market state, including market trends and the most recent advancements made globally. In-depth analysis of market size, share, industry trends, forecast, and competitive environment is covered in the report that presents clear picture of the market with relevant statistical data.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Global Catalyst Market Definition:
Catalysts are substances that increase the rate of chemical reactions without being consumed. In a chemical process, catalysts help reduce waste, minimize production time, energy consumption, & operational costs, and improve air quality by controlling emissions & reducing VOCs (Volatile Organic Compounds). They are utilized extensively in numerous industrial processes, including but not limited to petroleum refining, chemical synthesis, polymer catalysis, & environmental applications.
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Global Catalyst Market Insights:
The Global Catalyst Market size was valued at USD 30.32 billion in 2022 and is projected to grow at a CAGR of around 4.1% during the forecast period, i.e., 2023-28.
Global Catalyst Market Driver
Strong Demand for Clean & Sustainable Industrial Processes: The implementation of stringent environmental regulations & emission standards worldwide has compelled industries to switch to cleaner & greener production processes in order to reduce harmful emissions. Since catalysts play a vital role in emission reduction, waste treatment, & pollution control, it makes them crucial components in abiding by these regulations. In addition, the mounting focus on renewable energy sources like biofuels, hydrogen, & other sustainable alternatives has created a demand for catalysts used in renewable energy production processes, fuel cells, biomass conversion, etc. Moreover, the mounting demand for cleaner fuels for sustainable transportation owing to rapidly rising environmental concerns is another prominent aspect amplifying the demand for catalysts and, in turn, driving the Global Catalyst Market.
Global Catalyst Market Leading Key Players:
Albemarle Corporation, Haldor Topsoe A/S, BASF SE, Evonik Industries AG, LyondellBasell Industries Holdings B.V., Arkema, The Dow Chemical Company, Clariant AG, W. R. Grace & Co.-Conn., Johnson Matthey, Axens, Honeywell UOP, Zeolyst International, Exxon Mobil Corporation, Umicore
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Global Catalyst Market Segmentation:
Based on Type
– Zeolites- Market Size & Forecast 2018-2028, USD Million
– Metals- Market Size & Forecast 2018-2028, USD Million
– Chemical Compounds- Market Size & Forecast 2018-2028, USD Million
– Enzymes- Market Size & Forecast 2018-2028, USD Million
– Organometallic Materials- Market Size & Forecast 2018-2028, USD Million
Based on Process
– Recycling- Market Size & Forecast 2018-2028, USD Million
– Regeneration- Market Size & Forecast 2018-2028, USD Million
– Rejuvenation- Market Size & Forecast 2018-2028, USD Million
Based on Application
– Petroleum Refining- Market Size & Forecast 2018-2028, USD Million
– Chemical Synthesis- Market Size & Forecast 2018-2028, USD Million
– Polymer Catalysis- Market Size & Forecast 2018-2028, USD Million
– Environmental- Market Size & Forecast 2018-2028, USD Million
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Global Catalyst Market Geographical Analysis
By Region
– North America
– South America
– Europe
– The Middle East & Africa
– Asia-Pacific
Recent Development of Global Catalyst Market:
On 28 July 2023, BASF announced the completion of the carve-out of its mobile emissions catalysts and precious metal services businesses and named the separate legal entity BASF Environmental Catalyst and Metal Solutions (ECMS). The company’s intention to carve out the entity was first announced in December 2021, with an expected completion timeframe of 18 months.
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About Us:
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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