The North America industrial catalyst market reached a value of US$ 5.7 Billion in 2018. Catalysts refer to substances that speed up or initiate reactions by providing an alternative path of reaction with a lower activation energy than the uncatalyzed reaction. They accelerate both the rates of the forward and reverse reaction so that the equilibrium constant remains the same. Catalyzed reactions form the basis of many industrial chemical processes. They are extensively used in the food industry, pollution control and for producing petroleum, energy, chemicals and polymers. Owing to the huge demand, catalyst manufacturing has itself emerged as a rapidly growing industrial process.
The North America industrial catalyst market is currently being driven by several factors. Industrial catalysts are majorly being used in petroleum refining and basic petrochemical industries as there is an increasing demand for these products. Petroleum- based fuels such as diesels, gasoline, kerosene, fuel-oils and jet fuels are the most widely consumed fuels in the region. The demand for these petroleum products from the industrial and power generation sectors is anticipated to drive the demand for the catalyst industry. Moreover, the escalating usage of industrial catalyst in the automotive sector has fueled the market growth in the region. The demand for palladium continues to rise which is used during the manufacturing of catalytic converters, as it helps to reduce toxic emissions. Apart from this, catalysts are also used in the pharmaceutical industry because of the rising demand for chiral compounds. Normally, the compounds used in pharmaceuticals are generally complex multifunctional molecules which are built up by a sequence of chemical reactions. Industrial catalysts also help in the production of cleaner fuels and lubricants with increased performance properties. Looking forward, the analyst expects the market to reach a value of US$ 7.3 Billion by 2024, registering a CAGR of around 4% during 2019-2024.
Report Scope: North America Industrial Catalyst Market
Key Regions Analyzed United States Canada Mexico
Analysis for Each Country Market by Type Heterogenous Catalysts Homogeneous Catalysts Biocatalysts
Market by Raw Material Mixed Catalysts Oxide Catalysts Metallic Catalysts Sulphide Catalysts Organometallic Catalysts
Market by Application Petroleum Refinery Chemical Synthesis Petrochemicals Others
Value Chain Analysis Key Drivers and Challenges Porters Five Forces Analysis PESTEL Analysis Government Regulations Competitive Landscape Competitive Structure Key Player Profiles
Key Questions Answered in This Report: How has the North America industrial catalyst market performed so far and how will it perform in the coming years? What are the key regions in the North America industrial catalyst market? What is the breakup of the North America industrial catalyst market on the basis of type? What is the breakup of the North America industrial catalyst market on the basis of raw material? What is the breakup of the North America industrial catalyst market on the basis of application? What are the various stages in the value chain of the North America industrial catalyst industry? What are the key driving factors and challenges in the North America industrial catalyst industry? What is the structure of the North America industrial catalyst industry and who are the key players? What is the degree of competition in the North America industrial catalyst industry? What are the profit margins in the North America industrial catalyst industry?
Report Coverage: Base Year Considered: 2018 Historical Data Coverage: 2013-2018 Market Forecast: 2019-2024 Currency: US$ Geography Covered: North America, United States, Canada and Mexico Segments Covered: Type, Raw Material and Application
This latest report provides a deep insight into the North America industrial catalyst market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America industrial catalyst market in any manner.
Report Customization: Although the analyst has tried to cover everything in the North America industrial catalyst market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20-man hours of free customization for each report.
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