Summary
Global Stationary Emission Control Catalysts Market-Segmented by Catalyst , End-User Industries , Process and Geography-Trends and Forecasts ( 2017-2022 ). The market has also been geographically segmented into Asia-Pacific , North America , Europe , South America , and the Middle-East & Africa . Europe accounts for the major share in the market , owing to the stringent environmental regulations present in the region .
Description
The global stationary emission control catalyst market was valued at USD 1,436.74 million in 2015 and is expected to reach USD 2433.14 million by 2021 , at a CAGR of 9.18 %, during the forecast period .
Stationary emission catalysts are used to control the release of carbon monoxide , SOX , NOX , particulate matter and other trace elements such as mercury , cadmium , and lead , present in various industrial emissions . Governments , mainly in the developed countries , have been formulating laws and regulations to control the release of these emissions . Most companies are now treating these emissions , which is driving the stationary emission control catalysts market .
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The market has been divided , by end-user industry into power plants , refinery & petroleum , chemical , waste incineration , metal finishing , and other industries ( commercial , agriculture , etc .). Power plants account for a major share in the market , owing to the environmental regulations present in the industry . In North America , the power plants segment and in Europe , the chemicals segment , show a great potential for the stationary emission control catalysts market , owing to the increasing regulations in the respective segments .
The market has been segmented by the process into selective catalytic reduction ( SCR ), catalytic oxidation , catalytic incineration , and catalytic filters . Selective catalytic reduction is the majorly used process and is mainly used for removing NOX from the emissions . Catalytic incinerators are used for removing VOCs present in the emissions and are largely used in paints , printing , rubber , and casting industries . Catalytic oxidation is used for removing carbon monoxide and hydrocarbons present in the emissions .
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The market has also been geographically segmented into Asia-Pacific , North America , Europe , South America , and the Middle-East & Africa . Europe accounts for the major share in the market , owing to the stringent environmental regulations present in the region . Stationary emission control catalysts used in the chemical industry is expected to witness the highest growth in Europe . North America is also expected to witness a high growth rate , owing to the increasing regulations in the power sector .
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