SAN FRANCISCO, June 8, 2016 /PRNewswire/ —
The global catalyst market is expected to reach USD 34.3 billion by 2024, according to a new report by Grand View Research, Inc. The accelerating use of catalysts for reducing the cost of manufacturing chemicals, petrochemicals and polymers are expected to remain a favorable factor. Also, rising application of catalytic reforming and fluidized bed catalytic cracking for enhancing the yield of light cut and medium cut oils may promote the use of the product over the next eight years.
In terms of volume, chemical synthesis is expected to witness growth at a CAGR of 3.5% from 2016 to 2024. In September 2014, the Government of India proposed the “Draft National Chemical Policy” which is intended for increasing the country’s global chemical output share from 3% in 2014 to 6% by 2020. The mentioned government initiative about the improvement of the chemical production output in India is expected to open new avenues for growth over the next eight years.
Browse full research report with TOC on “Catalyst Market Analysis By Raw Material [ Zeolite, Metals (Base Metals, Precious Metals), Chemical Compounds (Peroxide, Acid, Amine)], By Product [Heterogeneous, Homogeneous], Application [Petroleum Refining, Chemical Synthesis, (Polyolefins, Adsorbents, Chemical Catalysts) Petrochemicals & Polymers (Ziegler-Natta, Reaction initiator, Urethane, Chromium, Single-site), Environmental (Light Duty Vehicles, Heavy duty Vehicles, Motorcycles)] And Segment Forecasts To 2024“ at: http://www.grandviewresearch.com/industry-analysis/catalyst-market
Further key findings from the study suggest:
Grand View Research has segmented the global catalyst market by raw material, product, application and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.