The report on the global Precious metal catalysts market uses the top-down and bottom-up approaches to define, analyze, and describe the market trends for the next five years. The report also tracks the emerging applications, innovative technologies, and mergers & acquisitions. It also focuses on the growth drivers and restraints for the key market players during the forecast period.
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According to the report, “Precious Metal Catalysts Market, by Type (Platinum, Palladium, Rhodium, Iridium, Ruthenium) End-user (Automobile, Pharmaceutical, Refinery) – Global Revenue, Trends, Growth, Share, Size and Forecast to 2022”, the market for Precious Metal Catalysts is expected to grow at an impressive rate, due to the increased prevalence of diseases and the rising demand from around the world.
With advancements in technology, there is a sudden surge in the emission norms among developing and developed countries due to which there is a significant rise in the global precious metal catalysts market. Companies are investing heavily in research and development activities to reduce costs and improve quality associated with catalysts.
Automobile industries are also investing heavily which is contributing towards the market growth.
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KEY PREMIUM INDUSTRY INSIGHTS
- In automobiles, metal catalysts are used to remove toxic substances from the car exhausts. Rise in the number of automobile industries is a major driving factor for the global precious metal catalysts market during the forecasted period. The newly developed emission standard in improving catalysts technologies is creating new opportunities for the market to grow.
- In addition, precious metal catalysts are also being used in pharmaceutical and petrochemical a company, which is contributing towards the market growth. Use of precious metal catalysts in refineries is boosting the progress of the market.
- However, temperature dependent performance of catalysts, and loss of activity due to thermal deactivation is hampering the growth of the precious metal catalysts market.
The precious metal catalysts market is divided into five major geographical segments which are North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. Europe region holds the highest market share and is the largest revenue contributor of the precious metal catalysts market.
The market in developing countries is also growing steadily. Owing to the rise in emission control and expansion of automobile, petrochemical, pharmaceutical, and refinery industries are some major driving factors for the growth of the market in Asia-Pacific region.
Countries like China and India are adapting to stringent emission control a norm which is estimated to drive the market during the forecasted period.
This report analyzes the precious metal catalysts market by the following segments:
- Precious Metal Catalysts Market, by Type
- Precious Metal Catalysts Market, by End User
KEY MARKET PLAYERS
Key players in the precious metal catalysts market include:
- BASF SE
- Evonik Industries AG
- Johnson Matthey PLC
- Heraeus Group
- Clariant International Ltd
- Umicore Sa
- Alfa Aesar
- Shaanxi Kai Da Chemical Engineering Co.,Ltd
- Xi'an Catalyst New Materials Co.,Ltd
- Vineeth Precious Catalysts Pvt. Ltd.
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