The Business Research Company's Heterogeneous Catalyst Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
Increasing Demand for Chemicals Drives Market Growth
The increasing demand for chemicals is a significant factor contributing to the growth of the heterogeneous catalyst market. The demand for chemicals is growing due to the rising needs from manufacturing, pharmaceuticals, and agriculture industries, as well as technological innovations and a shift towards sustainable practices and green technologies. Heterogeneous catalysts play a crucial role in enhancing the efficiency, cost-effectiveness, scalability, and environmental sustainability of chemical processes. For instance, in July 2023, the US Bureau of Labor Statistics reported that the trade value of US chemical manufacturing products exported in 2022 amounted to $288.0 billion, reflecting a growth of 13.4% compared to 2021. Therefore, the increasing demand for chemicals drives the demand for the heterogeneous catalyst market.
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Key Players and Market Trends
Major companies operating in the heterogeneous catalyst market include Shell Plc, BASF SE, ExxonMobil Chemical, Rio Tinto Ltd., SABIC Corp., LyondellBasell Industries Holdings B.V., Honeywell International Inc., Heraeus Group, Evonik Industries AG, Johnson Matthey Plc, Sinopec Group, Solvay SA, DuPont de Nemours Inc, Arkema Group, INEOS Group AG, Albemarle Corporation, Clariant International AG, JGC Catalysts and Chemicals Ltd, Umicore NV, Haldor Topsoe A/S, Axens SA, Gelest Inc., Zeolyst International Inc, AGGARWAL Chempack Industries Private Limited, and W.R. Grace & Co. These companies are focused on developing innovative products, such as propane dehydrogenation (PDH) catalysts, to enhance PDH catalysts' performance in industrial-scale propylene production. For instance, in April 2024, Clariant launched CATOFIN 312, the latest propane dehydrogenation catalyst. This technology integrates Clariant's custom-designed catalysts and Heat Generating Material (HGM) with Lummus's advanced process, establishing it as one of the rapidly expanding technologies for propylene production.
Major Trends in the Market
The forecast period will witness several key trends, including advancements in nanotechnology, demand for novel catalyst materials, advancements in catalytic converters, and the growing demand for chemical synthesis and metal-based catalysts. These trends are expected to significantly influence the growth and development of the heterogeneous catalyst market.
Segments:
• Product Type: Metal-Based, Chemical-Based, Zeolites-Based, Other Products
• Application: Petroleum Refining, Chemical Synthesis, Environmental Catalysis, Polymerization, Hydrogenation, Other Applications
• End-User Industry: Oil And Gas, Chemicals And Petrochemicals, Environmental, Other End-User Industries
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the heterogeneous catalyst market in 2023 and is expected to be the fastest-growing region during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Heterogeneous Catalyst Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Heterogeneous Catalyst Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on heterogeneous catalyst market size, heterogeneous catalyst market drivers and trends, heterogeneous catalyst market major players, competitors' revenues, market positioning, and market growth across geographies. The heterogeneous catalyst market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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