Description :
Catalysts are substances that accelerate the rate of chemical reaction by lowering the activation energy of the process . They are either homogeneous or heterogeneous , depending upon the phase of the reaction . In homogeneous catalysis , the catalyst and the reaction medium are in same phase , mostly liquid or gas ; whereas heterogeneous catalysis involves the use of solid catalysts either in a liquid or gas phase . Various catalysts available in the market include zeolites , enzymes , chemical compounds , and metals that are used in industries such as automotive , industrial reactions , oil & gas , construction , and others . They are used for various applications such as petroleum refining , chemical synthesis , polymer catalysis , and environmental applications . In the year 2015 , the global catalysts market accounted for $ 28,567 million , and is estimated to grow at a CAGR of 4.8 % from 2016 to 2022 .
Browse the full report @ http :// www . orbisresearch . com / reports / index / catalysts-market-bytype-and-application-global-opportunity-analysis-and-industry-forecast-2014-2022 .
Macroeconomic trends such as global population growth coupled with surging economic growth in emerging economies , stringent environmental legislation regarding automotive emissions , and increase in number of applications in end user industries are the factors that drive the market growth . However , restricted development and distribution of new catalysts hinder the market growth . Development of biochemicals through catalysis presents new opportunities for future growth .
Based on the catalyst type , the market is segmented into zeolites , metal , chemical compounds , enzymes , and organometallic materials . By application , it is divided into petroleum refining , chemical synthesis , polymer catalysis , and environmental & others . Petroleum refining is further segmented as fluid catalytic cracking ( FCC ), alkylation catalysts , hydroprocessing catalysts , and catalytic reforming . By chemical synthesis , the market is further classified as polyolefins , catalytic oxidation , and hydrogenation catalysts ; polymer catalysis into Ziegler – Natta , reaction initiator , and single-site ; and environmental into lightduty vehicles , and heavy-duty vehicles .
By geography , the market is segmented into North America , Europe , Asia-Pacific , and LAMEA . In the year 2015 , Asia-Pacific occupied the largest share , with China and India being the major contributors . This was attributed to the increase in demand for integration of emission-controlled catalyst in the automotive industry and low labor cost .
Check the DISCOUNT on this report @ http :// www . orbisresearch . com / contacts / discount / 219463 .
Major companies have adopted agreement , product launches , expansions , mergers , and agreements to sustain the intense competition in this market . The key players profiled in the report include : BASF SE Albemarle Corporation
2