The development of oil and gas industries owing to the rise in demand for consumers and growth in population are propelling the market growth.
Market Size – USD 313.5 Million in 2020, Market Growth – CAGR of 6.1%, Market Trends – The advent of effective catalysts in various sectors.
The global Catalyst Carriers Market is forecast to reach USD 507.5 Million by 2028, according to a new report by Reports and Data. Catalyst carriers serve as media for the conveyance of catalytic substances to help in the preparation of chemicals. Usually, it is accomplished by coating the components with the substance, which in turn raises the number of catalytic substrates accessible. They enable the reaction mechanism by providing a modulated surface area with particular surface chemistry.
The market for global catalyst carriers is influenced by the rising technological advancements, increasing the use of custom catalyst carriers, improving industrial infrastructure, and processing activities. Catalytic chemicals are porous materials used in various petrochemicals and chemical sectors for refining gases and liquids into the end product. These chemicals offer defined porosity, high-level purity, and heat stability, among various other advantages. The variable price of raw materials used to make these chemicals are acting as market restrains.
The above-mentioned factors collectively create opportunities for market growth while factors such as unfavorable effects of catalytic carrier pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the catalyst manufacturing industry owing to innovative efforts have enhanced the efficiency of catalyst carriers.
North America is showing consistent growth in the market of catalyst carriers due to the rising oil and gas refinery in the region. The government of this region has made stringent regulations for the treatment of petroleum which is helping the market to propel.
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Key participants Ceramtec GmbH, R. Grace & Co., Saint-Gobain, Cabot Corporation, Coorstek Inc., Magma Ceramics & Catalysts, JGC Catalysts and Chemicals Ltd., Pingxiang Gophin Chemical Co., Catalysts & Chemical Specialties, and Christy Catalytics LLC, among others.
Further key findings from the report suggest
- Ceramics segment held the largest market share of 57.4% in the year 2018. Ceramics are important substrates used in the synthesis of gas, refineries, and other chemical processes. The properties such as mechanical strength, stability, low surface profile, chemical inertness, and bulk material uniformity are acting as driving factors for this segment.
- Ring composition is witnessing a CAGR of 4.6% during the forecast period. These rings are mainly made up of ceramics and can be molded into various geometrical shapes. This composition can facilitate optimum volume capabilities and are used in various petrochemicals and manufacturing industries.
- Oil and gas held the largest market share of 49.5% in the year 2018. These carriers enhance the efficiency and mechanical strength of the catalyst. China, India, and Taiwan are propelling the market of the catalyst carriers due to growing automotive, and oil & gas industries.
- Asia Pacific is forecasted to grow with the highest CAGR of 6.5% during the forecast period. Countries like India, China, and Japan are rapidly catching up with the growth in the chemical catalytic carrier market. Catalytic substrate production and its consumption have shifted from North America to Asia.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/catalyst-carriers-market
For the purpose of this report, Reports and Data have segmented into the global Catalyst Carriers market on the basis of composition type, product type, end-users, and region:
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Activated Carbon
Composition Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Oil & Gas
- Chemical Manufacturing
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020 – 2028
Chapter 3. Indicative Metrics
Chapter 4. Catalyst Carriers Market Segmentation & Impact Analysis
4.1. Catalyst Carriers Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Increasing demand for cost effective catalyst
18.104.22.168. Rising consumption of petroleum derivatives
4.2.3. Market restraints analysis
22.214.171.124. Introduction of advanced technology for chemical synthesis
126.96.36.199. Volatile price of raw material
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
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