The precious metal catalysts market size is estimated to grow from USD 14.37 Billion in 2017 to USD 19.41 Billion by 2022, at a CAGR of 6.19%.
Browse 133 Market Data Tables and 30 Figures spread through 178 Pages and in-depth TOC on “Precious Metal Catalysts Market by Type (Platinum, Palladium, Rhodium, Iridium, Ruthenium) End-use Industry (Automobile, Pharmaceutical, Refinery), and Region – Global Forecast to 2022”.
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- Growing demand from end-use sectors
- Environmental concern and their legal implications
- Performance dependency on temperature & loss of activity through poising and thermal deactivation
- Emergence of nano-particle catalysts
- R&d activities to reduce costs and to improve the quality of catalysts
- Increasing investment in automobile sectors
- Precious metals price volatility
- Rising demand of electronic vehicles (EVs) will reduce the usage of precious metals in automobile
- Less stringent emission regulation in APAC region
Precious metal catalysts are widely used in a range of industries such as petrochemicals (producers of petrochemical intermediates), pharmaceuticals for chemical synthesis (producers of bulk and specialty chemicals), automobile (emission reduction), and refining (refineries for the production of clean fuel) industries.
The considerable growth of these industries in the last couple of years, along with the strict regulations on emission control and the need for cleaner fuels, heavy, and sour crudes are driving the need for precious metal catalysts.
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The global market for precious metal catalysts is dominated by players such as BASF SE (Germany), Evonik Industries AG (Germany), Johnson Matthey Plc (U.K.), Heraeus Group (U.K.), Clariant International Ltd (Switzerland), Umicore SA (Belgium), Alfa Aesar (U.S.), and Vineeth Precious Catalysts Pvt. Ltd. (India).
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