Inorganic Catalyst Market to be Dominated by Pharmaceuticals Application through 2028
Increasing demand from Increasing demand from
petrochemicals, chemicals, and pharmaceuticals is expected to drive global inorganic
catalyst market in the forecast period 2024-2028
According to TechSci Research
report, “Inorganic Catalyst
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028”, Global Inorganic Catalyst market is anticipated to
upsurge at an impressive rate in the forecast period of 2028. The key reason driving
the market are rising demand of inorganic catalysts from the chemicals,
petroleum refining, hydrocracking, catalytic polymers. Inorganic catalysts are
compounds with an inorganic chemical structure and help in a chemical reaction
to boost the execution time of the reaction. They are majorly known as heterogeneous
catalysts.
The production cost and Environmental
concern are key restraint for the inorganic catalyst market growth. Inorganic
catalysts can be expensive to produce, which can make them less competitive
compared to other technologies or alternative products. This can be a barrier
to adoption, particularly for smaller companies or industries that are cost
sensitive. Inorganic catalysts can have environmental impacts, particularly in
terms of their disposal and potential for contamination. This can lead to
regulatory challenges and increased costs for companies that use inorganic
catalysts in their processes. Hence, all these factors can further slowdown the
Inorganic Catalyst market growth.
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data Figures spread through XX Pages and an in-depth TOC on the "Global
Inorganic Catalyst Market"
Global Inorganic
Catalyst Market is segmented based on type, application, and region.
Based on the type,
the market is categorized into sodium salts, magnesium salts, calcium salts,
potassium salts, and ammonium salts. Sodium salts type segment is expected to hold the
largest market share in the forecast period, 2024-2028.
Sodium salts are chemically active and
can easily respond to oxygen at room temperature and under heating. Apart from
these, sodium can react violently with water. All these factors make it very
good catalytic activity and can therefore be used as catalysts to dominate the
segment.
Based on application, the market is fragmented into chemicals, food and beverages, pharmaceuticals,
agriculture, personal care, and others. Pharmaceuticals
segment is
expected to dominate the segment in forecast period of 2028. As it is widely used
for their therapeutic purpose as medicine such as astringents and
antimicrobials etc. Therefore, the growing
pharmaceutical sector leads to highly increase in the demand of
inorganic catalyst and dominate the
application segment.
Major
companies operating in the global Inorganic Catalyst market are:
- Grace Catalysts
Technologies
- BASF SE
- ALBemarle
Corporation (Ketjen Corporation)
- Evonik Industries
AG
- LyondellBasell
Industries Holdings B.V.
- Arkema SA
- Dow Chemical Co.
- Haldor Topsoe A/S
- Honeywell
International Inc
- Clariant
International Ltd
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“Government
policies are driving the demand for inorganic catalysts in various industries,
particularly those related to clean and sustainable energy sources. As
governments around the world continue to implement policies to address climate
change and promote sustainable development, the demand for inorganic catalysts
is expected to continue to grow in the coming years and creating huge prospects
of market growth during the forecast period,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Inorganic Catalyst Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028, By Type (Sodium Salts, Magnesium
Salts, Calcium Salts, Potassium Salts, and Ammonium Salts), By Application (Chemicals,
Food and Beverages, Pharmaceuticals, Agriculture, Personal Care, and Others),
By Region, and Competition, has evaluated the future
growth potential of global inorganic catalyst market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in the global inorganic catalyst market.”
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