Report: Global Chemical Processing Catalysts to Reach Over $7.5 Billion by 2015
Nov. 13, 2008
Growth in the worldwide catalysts market is driven by the ever-increasing demand from polymer manufacturers, and refining and petchem industries.
Global market for chemical processing catalysts is projected to reach $7.5 billion by 2015, driven by increased use of catalysts for commodity chemicals and increase in prices of catalysts based on precious metals. Volume growth is however expected to remain sluggish. Growth in the worldwide catalysts market is driven by the ever-increasing demand from polymer manufacturers, and refining and petchem industries. Additionally, growth is to be enhanced by potential alliances between manufacturers of catalyst and chemical companies working on process development. Industry dynamics in the chemical processing catalysts market revolves around the shifting of chemical production bases from North America and Europe to countries in Middle East, Asia Pacific and Latin America. China and Middle East are expected to be the major centers of growth for the overall catalyst market, as stated in a recent report published by Global Industry Analysts Inc., a market research publisher. United States, Europe, and Asia-Pacific represent the major markets with over 75% share of the global revenue share in 2008. Asia-Pacific is projected to be the fastest growing regional market for chemical processing catalysts, globally. Polymerization Catalysts comprises the largest product segment in the global chemical processing catalysts market, with sales projected to reach US$3.8 billion by 2015. With focus shifting to environment friendly products, catalyst suppliers are gearing up to manufacture biopolymers as well as degradable polymers. Demand for organic synthesis catalysts is primarily anticipated from their rising utilization in basic organic chemicals as well as fine chemical processes. In the United States, Organic Synthesis Catalysts market is projected to reach US$150 million by 2010. Major companies profiled in the report include BASF Catalysts LLC, Evonik Degussa GmbH, Johnson Matthey Catalysts, Sud-Chemie AG, and WR Grace & Co. For more details about this research report, visit www.strategyr.com/Chemical_Processing_Catalysts_Market_Report.asp
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