Precious Metal Catalysts Market Size, Share - Segmented by Type (Platinum, Palladium, Rhodium, Iridium, Ruthenium), Application (Automobile, Pharmaceutical, Refinery Petrochemicals), and Geography - Growth, Trends, and Forecasts (2020 - 2025)

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Precious Metal Catalysts Market

The Precious Metal Catalysts Market is expected to register steady growth rate during the forecast period (2018 – 2023). The strong demand for high-performance transportation fuel from the refinery and the enactment of stringent environmental regulations are expected to drive the market through the forecast period.

Increasing Investments in Refineries Driving the Market

The market for precious metal catalysts has significantly benefitted from the increasing investments in oil refineries. For instance, Indian Oil has set a budget of INR 1.8 trillion in order to expand its refineries and expand businesses in the next 5-7 years. Petron Corp, one of the leading Asian oil companies, invested USD 3.5 billion in order to expand its refinery in Malaysia by 2020. This expansion is estimated to add 90,000 barrels per day in its operations in Malaysia. Such investments and acquisitions of refineries, along with the increasing demand of fuel, are expected to increase the demand for refining catalysts.

Refinery Application is the Largest Segment of Precious Metal Catalysts Market

Precious Metal Catalysts are the substances, which accelerate high-performance transportation fuel. They are primarily used by petroleum refineries to improve the output quantity by enhancing the operational efficiency during the petroleum refining process. These catalysts play a vital role in sufficing the fuel standards, emission standards, and improving selectivity and conversion.                    

                                             Precious Metal Catalysts Market

Asia-Pacific to Lead the Precious Metal Catalysts Market

Asia-Pacific is estimated to be the largest market for precious metal catalysts, in terms of revenue, in 2016. China is a key consumer of precious metal catalysts in the Asia-Pacific region. Positive growth from automotive industry in many countries, along with the growing investments for refineries, contributed to the growth of the market in this region. The government initiatives in the region, are expected to have a positive effect over the forecast period.

Key Developments in Precious Metal Catalysts Market

  • November 2017: BASF introduced Fortres NXT FCC catalyst to help refiners increase liquid product yields with heavy resid feeds

Precious Metal Catalysts Market Major Players:

  • BASF SE.
  • Clariant International Ltd.
  • Evonik Industries AG.
  • Johnson Matthey PLC.
  • and Souvenier Chemicals.

Reasons to Purchase Precious Metal Catalysts Market Report

  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • To identify the application that is expected to dominate the market
  • To identify regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel

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