San Francisco, California (PRWEB) August 18, 2014
The global catalyst market is expected to reach USD 27.59 billion by 2020, according to a new market study by the Grand View Research, Inc. Growing demand for polymers is expected to result in increased utilization of refinery capacities which in turn is expected to drive catalyst demand. Favorable regulatory scenario for development of high yield, efficient and conservative manufacturing processes is also expected to enhance demand over the forecast period.
Chemical synthesis was the most dominant application market; to catalyst demand exceeding 1,800 kilotons in 2013, owing to growth in chemical production, particularly in Asia Pacific and Latin America. Environmental catalysis another key application market, accounting for over 29% of global catalyst demand in 2013 and is expected to witness fastest growth, at an estimated CAGR of 3.9% from 2014 to 2020; on account of the growing preference towards the production of clean fuels and use of green technology in the manufacturing process.
The report “Catalyst Market Analysis By Product (Heterogeneous, Homogenous), By Material (Zeolites, Metals, Chemical Compounds), By Application (Refinery, Chemical Synthesis, Polymer, Environment) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/catalyst-market
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global catalyst market on the basis of application, product and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
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