Market Size of Catalyst Carrier Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Catalyst Carrier Market Analysis
The market for catalyst carrier is expected to register a CAGR more than 5% globally during the forecast period. Catalyst carrier is a porous material used in the chemicals and petrochemical industries for refining or treating gases and liquid into intermediate. Solid catalysts used in the form of granules or fine particles are dispersed on a substrate that is a carrier. It exhibits excellent inorganic binding properties, and it is inert in most chemical systems and stable at normal reaction temperatures. The increasing demand from the ceramic catalyst and growing consumption of petroleum derivatives have been driving the market growth.
- However, the high manufacturing cost of catalyst carriers due to the use of rare-earth metals and unfavorable conditions arising due to the COVID-19 outbreak across the world are likely to hinder the growth of the studied market.
- The research and development operation going onto develop innovative catalyst carriers to increase the mechanism of action and development of cost-effective catalysts are likely to provide opportunities for the catalyst carrier market over the next five years.
- Asia-Pacific to be the fastest growing market across the world, with the largest consumption from countries, such as China and India.
