|Inorganic Catalyst Market 2022 Marketable Value, Growth Rate And Product Development Analysis 2030|
Inorganic Catalyst Market Growth & Trends
The global inorganic catalyst market size is expected to reach USD 34.09 billion and exhibit a CAGR of 3.3% by 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rising demand from applications including petroleum refining, chemical synthesis, polymers and petrochemicals, and the environment. There has been an upsurge in demand for catalysts for cost-saving, energy saving, process optimization, and yield improvement amongst the manufacturers globally.
Inorganic catalysts are converted into heterogeneous catalysts via solid supports to reduce their toxicity. Key inorganic catalysts include sulfonated carbon materials, sulfated zirconia, sulfonated MOF materials, and sulfonated silica materials among others. A catalyst identifies numerous applications in end-use industries such as chemicals, petroleum refining, hydrocracking, catalytic polymers and petrochemicals, and automotive owing to the benefits obtained by the application of a catalyst in any chemical reaction.
The Asia Pacific dominates the global inorganic catalyst market in terms of volume. The region has a presence of key manufacturing countries accounting for a major share including India, China, Japan, Malaysia, and Indonesia, among others. Moreover, the broad consumer base and the increasing population worldwide are anticipated to boost the industry growth during the forecast period.
With the growing demand for the product across geographic locations, the industrial participants are significantly moving toward growth by entering into strategic deals such as mergers, acquisitions, and product launches along with R&D. For instance, In June 2019, W.R. Grace & Co, a leading player, acquired the assets and complete business of Rive Technology, Inc. along with the acquisition of one of its technology – Molecular Highway zeolite technology. This acquisition has helped W. R. Grace & Co with both technological advancements and expanding its FCC catalyst applications.
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Inorganic Catalyst Market Segmentation
Grand View Research has segmented the inorganic catalyst market report based on type, application, and region:
Inorganic Catalyst Type Outlook (Revenue, USD Million, 2018 – 2030)
· Chemical Compounds
Inorganic Catalyst Application Outlook (Revenue, USD Million, 2018 – 2030)
· Petroleum Refining
o Catalytic Reforming
o Bed Grading
· Chemical Synthesis
o Chemical Catalysts
o Syngas Production
List of Key Players of the Inorganic Catalyst Market
· BASF SE
· Albemarle Corporation
· Evonik Industries AG
· LyondellBasell Industries Holdings B.V.
· Haldor Topsoe A/S
· W. R. Grace & Co.-Conn.
· Honeywell International Inc
· Clariant International Ltd
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world’s renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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