Global Catalyst Market 2023 and its Growth ,Forecast

Catalyst Market
Catalysts Market  are supplementary chemicals compounds that are added in small amounts to increase the rate of chemical reaction. Catalyst does not undergo any type of chemical changes in them. Catalyst reduces reaction time and energy required to complete a chemical reaction.

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With the advancement in molecular chemistry, the catalysis control over the broad range of chemical reaction has been observed in past years. Catalyst is one of the most important areas of chemical industry, where increasing investment in research and development is observed even during the economic slowdown.

The development of innovative product portfolio in catalyst market is one of the recent trends in the industry. However, the fluctuating prices of raw material are one of the major hindrances for the global catalyst market .

Asia Pacific was the largest and fasted growing market of catalyst in 2014. The market dominance of Asia Pacific is attributed to the presence of large number of refineries in India and China: two major importer of crude oil in the world. In addition, the rising number of vehicles and increasing demand of plastic from the developing countries of Asia Pacific is also driving the catalyst market.

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Some of the major players operating in catalyst market include, Dow Chemical Company, DuPont (EI) de Nemours, Evonik Industries AG, Eastman Chemical Company, Criterion Catalysts & Technologies, Exxon Mobil Corporation, Fábrica Carioca de Catalisadores, Febex, FMC Corporation, Haldor Topsøe A/S, Johnson Matthey plc, Mitsubishi Gas Chemical Company Incorporated, BASF SE, Akzo Nobel NV, Arkema SA, Bayer AG, Borealis AG, Chevron Corporation, Chevron Phillips Chemical Company LLC, China Petroleum & Chemical Corporation and Akzo Nobel NV.

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