The North America industrial catalyst market size reached US$ 6.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.0 Billion by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.
Catalysts refer to substances that speed up or initiate reactions by providing an alternative path of reaction with a lower activation energy than the uncatalyzed reaction. They accelerate both the rates of the forward and reverse reaction so that the equilibrium constant remains the same. Catalyzed reactions form the basis of many industrial chemical processes. They are extensively used in the food industry, pollution control and for producing petroleum, energy, chemicals and polymers. Owing to the huge demand, catalyst manufacturing has itself emerged as a rapidly growing industrial process.
The North America industrial catalyst market is currently being driven by several factors. Industrial catalysts are majorly being used in petroleum refining and basic petrochemical industries as there is an increasing demand for these products. Petroleum- based fuels such as diesels, gasoline, kerosene, fuel-oils and jet fuels are the most widely consumed fuels in the region. The demand for these petroleum products from the industrial and power generation sectors is anticipated to drive the demand for the catalyst industry. Moreover, the escalating usage of industrial catalyst in the automotive sector has fueled the market growth in the region. The demand for palladium continues to rise which is used during the manufacturing of catalytic converters, as it helps to reduce toxic emissions. Apart from this, catalysts are also used in the pharmaceutical industry because of the rising demand for chiral compounds. Normally, the compounds used in pharmaceuticals are generally complex multifunctional molecules which are built up by a sequence of chemical reactions. Industrial catalysts also help in the production of cleaner fuels and lubricants with increased performance properties.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America industrial catalyst market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on type, raw material and application.
- Key Regions Analyzed
- United States
- Analysis for Each Country
- Market by Type
- Heterogenous Catalysts
- Homogeneous Catalysts
- Market by Raw Material
- Mixed Catalysts
- Oxide Catalysts
- Metallic Catalysts
- Sulphide Catalysts
- Organometallic Catalysts
- Market by Application
- Petroleum Refinery
- Chemical Synthesis
- Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- PESTEL Analysis
- Government Regulations
- Competitive Landscape
- Competitive Structure
- Key Player Profiles
IMARC Group’s latest report provides a deep insight into the North America industrial catalyst market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America industrial catalyst market in any manner.
|Base Year of the Analysis
||Type, Raw Material, Application, Country
||United States, Canada, Mexico
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Key Questions Answered in This Report:
- How has the North America industrial catalyst market performed so far and how will it perform in the coming years?
- What are the key regions in the North America industrial catalyst market?
- What has been the impact of COVID-19 on the North America industrial catalyst market?
- What is the breakup of the North America industrial catalyst market on the basis of type?
- What is the breakup of the North America industrial catalyst market on the basis of raw material?
- What is the breakup of the North America industrial catalyst market on the basis of application?
- What are the various stages in the value chain of the North America industrial catalyst industry?
- What are the key driving factors and challenges in the North America industrial catalyst industry?
- What is the structure of the North America industrial catalyst industry and who are the key players?
- What is the degree of competition in the North America industrial catalyst industry?
- What are the profit margins in the North America industrial catalyst industry?