Catalyst Carriers Market size is forecast to reach $335.1 million by 2025, after growing at a CAGR of 6.5% during 2020-2025. The market is witnessing growth due to the increasing usage in petroleum derivatives and growing energy demand in fast-growing emerging economies. Stringent environmental regulation pertaining to petroleum treatment and demand for efficient catalysts across all industrial verticals is also increasing the consumption of catalyst carriers.
By Product Type – Segment Analysis
The market is segmented into product type which includes ceramics, activated carbon, zeolites, and others. Ceramic catalyst carriers are estimated to be the fastest-growing type segment of the catalyst carriers market during the forecast period. The growth of the segment is mainly attributed to its growing consumption in petroleum refining in catalytic cracking hydroprocessing and catalytic reforming as a support material with the catalyst. They are also used in chemical synthesis of various hydrocarbons and the Haber’s process. Also, ceramic catalyst carriers form an important group of commonly used carrier materials in heterogeneous catalysis. They are primarily used in selective oxidation processes. As heterogenous catalysis bulk material catalysts are used to convert gaseous or liquid reactants.
Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=500021
Report Price: $ 4500 (Single User License)
By Type – Segment Analysis
The market is also segmented by type which includes sphere, porous, ring, extrudate, honeycomb, and others. Sphere shaped catalyst carriers is expected to be the fastest-growing application segment of the catalyst carriers market during the forecast period. The growth of the segment is mainly attributed to its superior properties such higher stiffness, lower thermal expansion, lighter weight, increased corrosion resistance, and higher electrical resistance than its counterparts. In terms of single-species and complex catalyst, homogenous catalyst comes into picture. In single-species catalysis, the rate laws for noncatalytic reactions apply, the only difference being that the catalyst appears as both a reactant and a product.
By End Use Industry – Segment Analysis
The oil and gas industry stands to be the dominating segment. Factors such a growing need for cleaner fuels and heavy and sour crudes, industries such as petrochemicals and chemical synthesis to provide efficient reaction output. Consumption in petroleum refining, catalytic reforming, and catalytic cracking hydroprocessing is the primary source of demand from the oil & gas industry. A reforming unit operates at extremely high temperatures and uses catalysts to syndicate and convert low-weight naphtha into aromatics that are used to blend gasoline and make chemicals. In addition, chemical manufacturing segment is the second largest end users of catalyst carriers.
Geography – Segment Analysis
APAC region is projected to be the fastest growing market for catalyst carriers. Significant economic development has contributed to the growth of the region’s manufacturing sector that has guided the growth of the chemical, oil & gas, and automotive industries. Low cost of production, easy access to skilled workforce at low cost, and high investment in capacity expansion in these industries in the area is further expected from government initiatives such as FCI. The growth of catalyst carriers market in the area is expected to drive these factors.
Drivers – Catalyst Carriers Market
Inflexible rules related to petroleum treatment
The International Energy Agency (IEA) has predicted that between 2000 and 2050 fuel consumption and CO2 emissions from the world’s vehicles would approximately double. CO2 emissions from the combustion of fossil fuels will rise by 45 per cent from 2006 to 2030, with 97 per cent of this rise occurring in non-OECD countries. One-fifth of this rise is the product of GHG emissions from global transport–98 percent of which will occur in non-OECD countries. To promote global reductions of the transport sector’s CO2 emissions, technological progress will need to go hand in hand with supporting policies. New environmental regulations to minimize air pollution by lowering gasoline sulfur content and ultra-low diesel sulfur content (ULSD) have enabled the petroleum treatment process, which in turn relies on the form of catalyst and material used in the refining process. Catalysis is a major factor in the refining of petroleum, as the process after crude unit is catalytic. In the presence of hydrogen and metallic catalysts, for example, gasoline with low aromatic content (benzene / naphthalenes) is produced after alkylation of light olefins with isobutane. Thus, the use of catalyst with a carrier is essential for efficient conversion to obtain high product yield. This is expected to boost the catalyst carrier market.
Talk to one of our sales representative about the full report by providing your details in the link below:
Challenges – Catalyst Carriers Market
Raw material price fluctuation
Catalyst carriers are synthesized primarily from different metal and non-metal oxides. Over time, the cost of the raw materials used to produce catalyst carriers fluctuated. This has significantly affected the catalyst carriers market. In addition, some of them are synthesized from rare earth elements which due to their low availability increase the overall cost of manufacturing catalyst carriers. The cost of raw materials is expected to fluctuate further in the immediate future, thereby impacting the catalyst carrier market significantly. Also, metal prices that go into catalyst carrier production have fluctuated in recent years. This is supposed to have a significant effect on catalyst carrier producers, as they will be forced to pass the cost on to catalyst carrier consumers.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Catalyst Carriers market. Catalyst Carriers Market top 10 companies are CeramTec GmbH (Germany), Saint-Gobain (France), W. R. Grace & Co. (US), CoorsTek Inc. (US), Cabot Corporation (US), Almatis GmbH (Germany), Sasol Ltd. (South Africa), Evonik Industries (Germany), NORITAKE CO., LIMITED (Japan), and Magma Ceramics & Catalysts (UK), among others.
In July 2017, catalyst carriers for the Accu sphere were introduced by Saint Gobain Norpro (U.S.). This new spherical catalyst carrier is estimated to meet the increasing demand of small diameter supports from the petrochemical, chemical & refining industry to provide high geometric surface area, uniform packaging, and even flow distribution.
The research and development operation going onto develop innovative catalyst carriers to increase the mechanism of action and development of cost-effective catalysts are likely to provide opportunities for the catalyst carrier market in upcoming years.
The COVID-19 outbreak across the globe have affected the manufacturing process due and increases the manufacturing cost. In addition, the use of rare-earth metals has also become the major factor to hinder the growth of the market.
A. Refinery Catalyst Market
B. Industrial Catalyst Market
About IndustryARC : IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.