Precious Metal Catalysts Market- Global In-depth Insight, Sales Analysis, Growth And Forecast

By Author: Jack Martin
Total Articles: 256
Comment this article

The global precious metal catalysts market size is estimated to grow from USD 14.37 Billion in 2017 to USD 19.41 Billion by 2022, at a CAGR of 6.19%. It is projected to witness significant growth in the next few years due to advancements in technology and the high efficiency of precious metal catalysts. Growth in demand for automobile and pharmaceutical applications, along with environmental concerns and their legal implications is the key factor fueling the growth of the precious metal catalysts market. The precious metal catalysts market has opportunities owing to the increase in R&D activities by companies to reduce costs and improve the quality of catalysts and the rise in investments in the automobile sector, which will drive the demand for emission control catalysts.

Get PDF Brochure for Research Insights at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=166753795

Precious metal catalysts are compounds made from one or more of the precious metals: gold, silver, platinum, palladium, and ruthenium. These catalysts are used in chemical reactions to speed up the reaction rate and increase the yield ...
... of the desired product. They are particularly useful for reactions that are not easily achievable without them, such as hydrogenation, oxidation, and hydrolysis reactions. They can also be used to reduce the amount of energy required for a reaction, making it more energy-efficient. Precious metal catalysts are used in a wide range of industries, including petroleum refining, pharmaceutical manufacturing, and food processing.

“The platinum catalyst segment is projected to dominate the market in the precious metal catalysts market through 2022”

The platinum segment, by type, is projected to dominate the precious metal catalysts market, as the platinum catalyst helps to reduce the CO2 emission. The dominant position of the platinum catalyst segment can be attributed to the rise in the sale of diesel vehicles in Europe and North America and the introduction of more stringent Euro 6 and Euro 7 emission rules in Europe, which is expected to drive the market for platinum catalysts, as it is mainly used as emission control catalysts. It is largely used in the automobile sector to reduce the effect of pollutants released by industrial processing units.

Get the Latest Version of the Report at https://www.marketsandmarkets.com/RequestNewVersion.asp?id=166753795

“The automobile sector is projected to grow at the highest rate during the forecast period”

The automobile sector dominated the market in 2016 and is projected to be the fastest-growing end-use sector over the next five years, as a result of the rising stringent emission standards and the growing automotive, refinery, and pharmaceutical industries. The newly developed emission standards demand additional improvements in catalyst technologies to successfully remove toxic substances from car exhausts, which will, in turn, drive the precious metal catalysts market growth through the automobile sector.

“European precious metal catalysts market accounted for the largest share in 2016”

The European region accounted for the largest share of the precious metal catalysts market in 2016, wherein Germany accounted for the largest country-level market. The government’s stringent emission norms and the growth in end-use sectors such as automobile, refinery, pharmaceutical, and petrochemical are some of the factors driving the precious metal catalysts market in Europe. The market in this region is growing rapidly due to the presence of numerous leading players. Its significant hold on industries such as automotive, pharmaceutical, refinery, and mass transport has played a crucial role in the growth of the market for precious metal catalysts in the European region.

The major players in the precious metal catalysts market include BASF SE (Germany), Evonik Industries AG (Germany), Johnson Matthey Plc (U.K.), Heraeus Group (U.K.), Clariant International Ltd (Switzerland), Umicore SA (Belgium), Alfa Aesar (U.S.), and Vineeth Precious Catalysts Pvt. Ltd. (India).

Request for Bundle Report at https://www.marketsandmarkets.com/RequestBundleReport.asp?id=166753795

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441