Succeeding faster: Ceresana analyzes the global market for catalysts
Fertilizers, detergents and crude oil products in general: catalysts are need almost always. More than 80% of products in the chemical industry are manufactured using catalytic processes. Accordingly, the economic importance of catalysts, substances used to speed up chemical reactions, is high. This latest study published by the market research institute Ceresana analyzes the world market for these products: Analysts expect total market value of catalysts to rise to more than US$22 billion until 2021.
Largest Consumer North America
Since the USA are processing a particularly large amount of crude oil, this country is the by far largest consumer of catalysts. Currently, North America accounts for a world market share of 42%. Yet Asia-Pacific is catching up fast: China is exhibiting the highest growth rate of the 20 countries analyzed by Ceresana; demand in this country will increase by 4.5% per year. Demand for catalysts in Western Europe, on the other hand, is falling. The southern EU-countries are still suffering notably from the effects of the financial crisis. Also, Europe is increasingly relying on alternative energies: One measure is adding vegetable oils to gasoline, these oils do not have to be refined and therefore require no catalysts when being processed.
Crude Oil Refining Dominating Application
About 80% of all the catalysts consumed are utilized in the refining of crude oil, for example in processes such as fluid catalytic cracking, hydrocracking or reforming. Catalysts are also needed in chemical syntheses and polymerization. Ceresana forecast the most dynamic development at an AAGR of 3.1% p.a. until 2021 for polymerization, with the synthesis of polyethylene and polypropylene accounting for the major share. The manufacturing of polyethylene and polypropylene from renewable resources requires the use of catalysts as well: The global market for bioplastics is expected to grow at an AAGR of almost 20% p.a. in the next eight years.
Chemical Synthesis and Polymerization
Ceresana forecasts revenues generated with catalysts for chemical synthesis to increase to approx. US$8.7 billion during the next eight years, due to the upturn of global economic development. Important processes consuming catalysts are the production of ammonia, nitric acid and methanol. The most commonly used products in these processes are metals or mixed metals, which are more expensive than, e.g., the zeolite used in fluid catalytic cracking.
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