The global catalyst carrier market size is expected to reach USD 904.30 million by 2032, according to a new study by Polaris Market Research. The report “Catalyst Carrier Market Share, Size, Trends, Industry Analysis Report, By Type (Carbon-based, Oxides, Zirconia, and Others); By End Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Several key players are investing in research and development activities for the development of on-going innovative and cost-effective catalyst carriers. This factor is projected to enhance the market growth in the coming years. Saint Gobain is the largest supplier of custom NoPro catalyst carrier in the world. It delivers products with improved selectivity and extended life to the material, petrochemicals, specialty, & fine chemical industry. This factor is expected to offer lucrative opportunities for the market.
For instance, an article published by the Economic Times in December 2021, Numaligarh Refinery Limited under a mega-integrated refinery expansion project has increased its refining capacity from 3 to 9 MMTPA. This event is anticipated to increase the product demand in oil refineries; thereby creating lucrative opportunities.
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High demand for ceramic-based catalyst carriers has driven the overall market. In addition, government of both developed and developing economies have increased the speeding on pharmaceutical and petrochemical industry is also acts as a one of the key factors for market growth. Furthermore, manufacturer can refine various mixture of petro-chemicals into pure chemical by using carbon based catalyst. Moreover, the high requirement of pure pharmaceutical-grade chemicals has enhanced the overall demand for catalyst carrier market during the forecast period.
The ceramic form of catalyst carrier-based product witnessed a huge jump in the demand from several parts of the world as it was widely used in auto components. The huge demand was driven by the chemical and mechanical properties of the catalyst carrier in the industry. This may act as one of the key drivers responsible for growth in the automobile industry. Catalyst carries are used extensively in the automotive exhaust gas emission process which provides additional benefits such as drastically reducing the vehicle weight, fuel efficiency & better handling. These factors increase the adoption of catalyst carriers in the vehicle industry.
Catalyst Carrier Market Report Highlights
Polaris Market Research has segmented the catalyst carrier market report based on type, end use, and region:
Catalyst Carrier, Type Outlook (Revenue - USD Million, 2019 - 2032)
Catalyst Carrier, End Use Outlook (Revenue - USD Million, 2019 - 2032)
Catalyst Carrier, Regional Outlook (Revenue - USD Million, 2019 - 2032)