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Global Environmental Catalysts Market Set for Expansive Growth by 2026

Press Release   •   Feb 02, 2017 08:15 EST

Environmental catalysts are a class of catalysts that is primarily used in order to reduce the level of pollutants and harmful emissions associated with energy and other process based manufacturing industries. Besides their use in industrial applications, these environmental catalysts are also used to reduce automotive emissions. As such, these catalysts commonly find application in power plants, gas and diesel engines, steam crackers, calcination plants, cement production, FCC units in refineries, waste incineration plants, gas turbines, railroad engines, steel mills, and chemical plants among others. Environmental catalysts provide an efficacious and efficient solution for restriction of emission of nitrogen oxides, hydrocarbons and carbon monoxide among others in to the atmosphere. Environmental catalysts are most commonly used in selective catalytic reduction, dieses oxidation catalysts, three way catalytic convertors among others in order to reduce the levels of volatile organic compounds emissions, ammonia emissions, and nitrous oxide emissions. Demand for environmental catalysts is expected to witness a steady growth during forecast period.

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Consumption of environmental catalysts has witnessed a steady growth in the recent past. The growth of environmental catalysts market can be attributed to increasing efforts towards developing more efficient, cleaner and safer industrial processes in order to adhere to ever stringent regulations and norms instituted by authorities and regulatory bodies, especially in regions such as North America and Europe. The demand for environmental catalysts, in order to tackle both, stationary source emissions and mobile source emissions is expected to witness a steady growth over forecast period. Moreover, growing emphasis on reducing the level of pollutants emanating from automobiles is expected to in turn result in increasing use of environmental catalysts thus driving the growth of environmental catalysts market during forecast period. Also, increasing demand for environmental catalysts for municipal and industrial waste remediation is expected to gain momentum especially in developing regions of the globe during the forecast period.

Depending on the geographies of the globe, global environmental catalysts market is segmented in to seven key geographical segments namely North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, Latin America, and Middle East & Africa.

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North America and Europe, relatively mature markets, dominated global environmental catalysts market over the recent past. Whereas, consumption of these environmental catalysts is expected to witness faster growth in Asia Pacific region spearheaded by China.

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