Aloe Vera Extract Market Size and Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Catalyst Market


The global catalyst market size was estimated at USD 25.0 billion in 2018 and is anticipated to expand at a CAGR of 4.5% by 2025. Catalysts help in reducing environmental emissions and manufacturing costs and favorable environmental regulations across industries and countries has have been a key factor driving the market.
Increasing demand for polymers from end-use industries such as electrical and electronics and automotive is also driving the market. Catalysts are widely used in the electrical and electronics industry as an essential component in the synthesis process. Moreover, rising product demand by automotive manufacturers to adhere to carbon emission norms is boosting market growth.

The chemical industry in U.S. is expected to grow significantly in the forecast period due to rising demand from numerous end-use industries, such as plastics, electrical and electronic appliances, and rubber. Amongst these, the automotive industry is positively supporting the chemical industry, thereby driving the regional market.
Increasing replacement of conventional crude oil and natural gas with shale gas and tight oil in the U.S. and Canada is forcing the market players to increasing spending on refining. Moreover, growing economies and growing energy demand on the global scale, especially in non-OECD economies is promoting the scope of refining in the region.
Increase in demand for diesel powered vehicles is expected to boost the shift in refinery catalyst product mix since refiners will be potentially increasing the consumption of pumping systems. Furthermore, growing demand for advanced polymer composites in industries like military and aerospace sectors is expected to drive the market.
Growth of these end-use industries is will ultimately propel the demand for polymer, thereby driving the market. However, fluctuating raw material prices is hampering the market. Nonetheless, if the raw material is manufactured from organic sources, the prices are expected to increase, positively affecting the catalyst pricing.

Market Segmentation, Outlook & Viewpoint: Global Catalyst Market

Raw Material Market Segmentation & Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

Chemical Compounds

  
Acids
  
Peroxides
  
Amines & Others

 Metals

  
Precious Metals
  
Base Metals

Zeolites

Others

Product Market Segmentation & Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

  
Heterogenous
  
Homogeneous

Application Market Segmentation & Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)

  
Chemical Synthesis
  
Chemical Catalysts
  
Adsorbents
  
Polyolefins
  
Others

Petroleum Refining

  
FCC
  
Alkylation
  
Hydrotreating
  
Hydrocracking
  
Catalytic Reforming
  
Others

Polymers & Petrochemicals

  
Ziegler Natta
  
Reaction Initiator
  
Chromium
  
Urethane
  
Single-Site
  
Others

 Environmental

  
Light Duty Vehicles
  
 Motorcycles
  
Heavy Duty Vehicles
  
Others

Key Players, Recent Developments & Regional Insights: Global Catalyst Market

The heterogeneous segment dominated the global catalyst market in 2018 with a revenue of USD 18.0 billion that year, fueled by increased usage in end-use industries. Heterogeneous catalysts are widely used in polymer, chemical, automobile, and petrochemical industries.

The solubility property of these product variants in the reactants stage is driving its use in polymer, petrochemical, and chemical production. They are also mainly used in the form of iron for ammonia production. Moreover, increasing popularity of enzymes is anticipated to drive product demand in the forthcoming years.
The homogeneous segment is expected to expand at a CAGR of 4.8% over the forecast period due to increasing use in the esterification of carboxylic acids. Additionally, increasing popularity of organometallic compounds for the manufacture of polypropylene and polyethylene is driving the segment.

Biocatalysts and enzymes are highly preferred in pharmaceutical and food and beverage industries due to their environment-friendly nature and longer shelf-life. Increasing popularity of biofuels due to supportive regulations is also driving the market.

Application Insights

The chemical synthesis segment was valued at USD 6.7 billion in 2018 and is expected to grow in future due to increasing demand from various end-use industries. Chemical synthesis comprises inorganic and organic chemistry, including processes such as Haber, contact, and conversion of ammonia to nitric acid that requires use of catalysts. Expansion of the chemical industry on a global scale is also expected to fuel product demand.

Catalysts are widely used in chemical synthesis due to properties such as enantioselective processes, activation of alkynes and alkenes, and promoting regio-, diastereo-, and high stability. Moreover, they hold properties like excellent functional group tolerance, cost competitiveness, and no need for additional ligands, which is also expected to drive the segment.

The environmental segment was estimated at USD 8.0 billion in 2018 and is predicted to expand at a CAGR of 5.4% by 2025 due to increasing use thanks to supportive environment-friendly properties. Catalysts are an important factor in environmental remediation like vehicle emission control systems and municipal or industrial waste treatment. Catalysts control pollution and avoid adverse environmental impacts. They also help in manufacturing low polluting refrigerants, which are majorly used in industries to treat released effluents and reduce the impact on the environment.

Availability of low-priced chemical compounds, in comparison to other materials, is expected to drive the segment in future. Moreover, growing applications of chemical compounds in emerging economies of Asia Pacific is predicted to boost product supply for manufacturing various materials. Favorable initiatives from governments in emerging economies is also driving the market.

Increasing use of catalysts in desulfurization of liquids and gases, rising octane ratings in crude oil fractions, and usage in improving reaction rate in chemical processing are driving the market. Furthermore, increasing preference for high priced precious metals in alternate applications like jewelry designing is propelling market growth.

Regional Insights

The Asia Pacific market was valued at USD 8.4 billion in 2018 and is expected to register a CAGR of over 5.o% by 2025 due to speedy development of the chemical industry, especially in emerging economies. Increasing product demand is also attributed to the exceptional properties of zeolite catalysts such as better shape and size selectivity.
North America accounted for 30.9% of the global market in 2018 and is expected to expand at a CAGR of 4.3% during the forecast period due to high demand for advanced polymer composites in the military and aerospace industries. Additionally, increase in demand for gasoline in U.S. is expected to drive the regional market.
Rising importance of catalysts in transforming heavy crude oil into light fractions such as diesel, gasoline, and kerosene is driving product demand. Growth of the chemical industry in Mexico is also contributing to product demand. Increasing technological advancements in hydraulic fracturing is also likely to emerge as a crucial factor impacting industry growth.

Catalyst Market Share Insights

Key players in the industry are focusing on adopting growth strategies such as acquisitions for more developments and catering to the growing demand on a global scale. Increasing production of major metals in emerging countries such as South Africa and Chile, on account of supportive regulations such as FDI for mineral production, is a key opportunity for players.

Leading players in the market include BASF, W.R. Grace, Chevron Australia, Albemarle Corporation, Johnson Matthey, Beach Petroleum Ltd, Evonik Industries AG, DuPont, Carnarvon Petroleum Ltd, Apache Corporation, Cue Energy Resources Ltd, ExxonMobil Australia, Australian Worldwide Exploration Ltd, Arrow Energy, and Bass Strait Oil Company Ltd.

Key Insights Covered: Global Catalyst Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Catalyst industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Catalyst industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Catalyst industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Catalyst industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Catalyst industry.

Research Methodology: Global Catalyst Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other