Catalyst Carrier Market, by Product (Ceramics, Activated Carbon, Zeolites), Applications (Sphere, Porous, Ring, Extrudate, Honeycomb), End-User (Oil & Gas, Chemical Manufacturing, Automotive, Pharmaceuticals, Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

The global catalyst carrier market will witness significant growth in the forecast period due to the rising usage of oil derivatives to satisfy the growing demand for energy resources. Strict environmental legislation for the processing of petroleum and growing competition for effective catalysts in all industrial verticals further drives the market growth.

Catalyst Carrier Market, Analysis:

Catalyst carriers are components used in catalyst production to improve the catalyst's properties and effectiveness. Catalyst carriers have various outstanding properties, such as thermoelectric, mechanical, and chemical stability, enabling catalysts to remain effective at wide temperature ranges. The demand for catalyst carriers is estimated to rise in the upcoming years due to the increasing demand for catalysts in chemical processes.

Growing consumption of petroleum derivatives is expected to drive the global catalyst carrier market:

Increasing usage of petroleum derivatives to satisfy the rising demand for energy is the key driving factor for the global catalyst carrier market—strict regulations related to petroleum treatment further fuel the market growth. The market for catalyst carriers is also projected to increase due to the increasing demand for catalysts in chemical processes in the forecast period.

The high cost of implementation is anticipated to restrain the growth of the global catalyst carrier market:

Technical experience is needed to manufacture catalyst carriers. The procedure includes multiple complicated steps that raise the total expense of the finished product. This high cost is anticipated to act as a barrier to the catalyst carrier market. Moreover, the incorporation of advanced technology in chemical synthesis reduces the use of catalysts that restrict market growth.

Rising demand for catalysts in chemical processes is anticipated to create enormous opportunities for the global catalyst carrier market:

Several refineries around the world transform the natural energy resources, like gases and liquids into a useable form like chemicals, fuels, lubricants, and oils. This transformation requires a catalyst carrier to maintain stability throughout the process. The growing demand for catalyst carriers in the chemical industry for refining purposes is expected to increase the growth opportunities for the global catalyst carrier market.

Catalyst Carrier Market, by Product:

Ceramics catalyst will be most lucrative till 2027

By product, the global catalyst carrier market is divided into ceramics, activated carbon, and Zeolites. Out of these, ceramics catalyst is estimated to dominate the market shares due to its increasing consumption in petroleum refining for catalytic cracking hydro processing and catalytic reforming as a catalytic supporting material.

Catalyst Carrier Market, by Applications:

The sphere is estimated to dominate the global catalyst carrier market

By applications, the global catalyst carrier market is classified into a sphere, porous, ring, extrudate, and honeycomb. Amongst these, the sphere is anticipated to dominate the market shares and continue to lead the market during the predicted period due to its beneficial features such as high resistance, lower thermal expansion, and lightweight.

Catalyst Carrier Market, by End-Users:

Oil & gas is estimated to be the highest growing till 2027

By end-users, the global catalyst carrier market is bifurcated into oil & gas, chemical manufacturing, automotive, pharmaceuticals, and others. Amongst these, oil & gas is expected to dominate the market shares due to the broad usage of catalyst carriers to increase mechanical resistance and catalyst performance.

Catalyst Carrier Market, by Region:

Asia-Pacific region will have lucrative opportunities for the market investors

The global catalyst carrier market is analyzed across North-America, Europe, Asia-Pacific, and LAMEA regions. North America dominates the market shares owing to the presence of a large number of manufacturers such as W. R. Grace & Co. and increased exploration of shale gases in the region.  Asia-Pacific is anticipated to be the fastest-growing region due to massive expansion in the chemical, oil & gas, and automotive industry, which fuels the demand for the global catalyst carrier market.

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Key participants in the Global Catalyst Carrier Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Source: Research Dive Analysis

Some of the key market players in the global catalyst carrier market are Evonik Industries AG, Companies de Saint-Gobain S.A., Almatis, R. Grace & Co., Cabot Corp., Noritake Co., Ceram Tec, Petrogas International, Calgon Carbon Corp., Coors Tek, Inc., and others.

Market players prefer to expand in local markets through inorganic growth strategies. The market players in the global catalyst carrier emphasize more on mergers & acquisitions and advanced product development. Those are the regular approaches that existing organizations adopt. To emphasize more on the competitor analysis of market players, Porter's five forces model is explained in the report.