Increasing demand from Increasing demand from petrochemicals, chemicals, and pharmaceuticals is expected to drive global inorganic catalyst market in the forecast period 2024-2028.
According to TechSci Research report, “Inorganic Catalyst Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global Inorganic Catalyst market is anticipated to upsurge at an impressive rate in the forecast period of 2028. The key reason driving the market are rising demand of inorganic catalysts from the chemicals, petroleum refining, hydrocracking, catalytic polymers. Inorganic catalysts are compounds with an inorganic chemical structure and help in a chemical reaction to boost the execution time of the reaction. They are majorly known as heterogeneous catalysts.
The production cost and Environmental concern are key restraint for the inorganic catalyst market growth. Inorganic catalysts can be expensive to produce, which can make them less competitive compared to other technologies or alternative products. This can be a barrier to adoption, particularly for smaller companies or industries that are cost sensitive. Inorganic catalysts can have environmental impacts, particularly in terms of their disposal and potential for contamination. This can lead to regulatory challenges and increased costs for companies that use inorganic catalysts in their processes. Hence, all these factors can further slowdown the Inorganic Catalyst market growth.
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Global Inorganic Catalyst Market is segmented based on type, application, and region.
Based on the type, the market is categorized into sodium salts, magnesium salts, calcium salts, potassium salts, and ammonium salts. Sodium salts type segment is expected to hold the largest market share in the forecast period, 2024-2028. Sodium salts are chemically active and can easily respond to oxygen at room temperature and under heating. Apart from these, sodium can react violently with water. All these factors make it very good catalytic activity and can therefore be used as catalysts to dominate the segment.
Based on application, the market is fragmented into chemicals, food and beverages, pharmaceuticals, agriculture, personal care, and others. Pharmaceuticals segment is expected to dominate the segment in forecast period of 2028. As it is widely used for their therapeutic purpose as medicine such as astringents and antimicrobials etc. Therefore, the growing pharmaceutical sector leads to highly increase in the demand of inorganic catalyst and dominate the application segment.
Major companies operating in the global Inorganic Catalyst market are:
- Grace Catalysts Technologies
- BASF SE
- ALBemarle Corporation (Ketjen Corporation)
- Evonik Industries AG
- LyondellBasell Industries Holdings B.V.
- Arkema SA
- Dow Chemical Co.
- Haldor Topsoe A/S
- Honeywell International Inc
- Clariant International Ltd
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“Government policies are driving the demand for inorganic catalysts in various industries, particularly those related to clean and sustainable energy sources. As governments around the world continue to implement policies to address climate change and promote sustainable development, the demand for inorganic catalysts is expected to continue to grow in the coming years and creating huge prospects of market growth during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Inorganic Catalyst Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, By Type (Sodium Salts, Magnesium Salts, Calcium Salts, Potassium Salts, and Ammonium Salts), By Application (Chemicals, Food and Beverages, Pharmaceuticals, Agriculture, Personal Care, and Others), By Region, and Competition, has evaluated the future growth potential of global inorganic catalyst market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global inorganic catalyst market.”
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