High utilization of catalytic process, stringent environmental legislation regarding automotive emissions, and surge in number of applications in end-user industries drive the growth of the global catalyst market. Daily operations in the sectors including oil & gas, chemical manufacturing, automotive, and others has been disrupted due to lockdown imposed by governments during the Covid-19 pandemic. Owing to high dependence on these sectors, the catalyst market has been impacted negatively.
According to the report published by Allied Market Research, the global catalyst market generated $35.5 billion in 2020, and is projected to reach $57.5 billion by 2030, witnessing a CAGR of 4.9% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The catalyst market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the catalyst market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the catalyst market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The recycling segment accounted for the highest share in 2020, contributing to nearly half of the global catalyst market, and is projected to continue its lead position during the forecast period. However, the regeneration segment is expected to manifest the fastest CAGR of 5.2% from 2021 to 2030.
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Some ruling enterprises in the global catalyst market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global catalyst industry include Albemarle Corporation, BASF SE, Chevron Phillips Chemical Company LLC, Clariant AG, Dorf Ketal Chemicals (I) Pvt. Ltd., Dow Chemical Company, Evonik Industries AG.
Asia-Pacific held the highest share in 2020, accounting for nearly two-fifths of the total share, and is projected to maintain its dominance by 2030. Moreover, this segment is expected to portray the highest CAGR of 5.4% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the catalyst market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the catalyst market
- Post-sales support and free customization
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