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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