Chemical Planet

Rising demand for petrochemicals from various end-use industries is expected to be a prime factor driving the market growth. Inclusion of high-grade polymers in manufacturing commodities for domestic as well as export oriented industry is anticipated to surge the product demand in future. The global catalyst market size is expected to reach USD 34.06 billion by 2025, ascending at a CAGR of 4.5%, according to a report by Grand View Research, Inc. Moreover, demand for clean and green fuels has shifted the trend of energy generation from conventional to clean resources. Cobalt, iron, and nickel catalysts are the key components used for clean energy generation processes, such as the Fischer-Tropsch synthesis. Rapidly expanding polymer and chemical manufacturing sectors is also anticipated to play an important role in the growth of the catalysts market. In addition, supportive regulations regarding the production and usage of catalysts are expected to augment market growt

The accelerating use of catalysts for reducing the cost of manufacturing chemicals, petrochemicals and polymers are expected to remain a favorable factor. Also, rising application of catalytic reforming and fluidized bed catalytic cracking for enhancing the yield of light cut and medium cut oils may promote the use of the product over the next eight years. The Global Catalyst Market is expected to reach USD 34.3 billion by 2024, according to a new report by Grand View Research, Inc. In terms of volume, chemical synthesis is expected to witness growth at a CAGR of 3.5% from 2016 to 2024. In September 2014, the Government of India proposed the “Draft National Chemical Policy” which is intended for increasing the country’s global chemical output share from 3% in 2014 to 6% by 2020. The mentioned government initiative about the improvement of the chemical production output in India is expected to open new avenues for growth over the next eight years. The market for chemical compounds as