World Catalysts Market
Global value demand to rise 6.3% annually through 2012
World catalyst demand will expand at a 6.3 percent annual pace to $16.5 billion in 2012, with volume demand growing at a 1.9 percent annual pace to 5.3 million metric tons. Growth will be strong across all market segments as high energy prices help support increased catalyst demand as a means of improving productivity. Average prices will also continue to advance due to a combination of underlying support from strong demand, and a shifting product mix toward higher cost/ more efficient products.
Rapidly rising energy prices over the 2002 to 2007 time period have dramatically increased raw material and production costs throughout the chemical, re- fining and polymer industries. Companies have responded by looking to increase both energy efficiency and productivity in their processes and operations, which in turn has boosted demand for catalysts. With energy prices expected to remain elevated from historical levels throughout the forecast period due to a tight balance between supply and demand, companies in all three sectors are expected to continue to pursue policies that favor increased catalyst demand, including upgrading to new, more efficient catalysts, as well as renewing or regenerating catalysts on a more frequent basis to maximize catalyst efficiency.
Polymerization catalysts to lead growth, petroleum refining also strong
The fastest growth in catalyst demand going forward will be polymerization catalysts, due in part to a rapid expansion in polymer capacity in the Africa/Mideast and Asia/Pacific regions. Additionally, in several cases companies are opting to use newer, more active (and more expensive) single-site polymer catalysts in place of traditional alternatives, which will drive value gains.
Catalyst demand in the petroleum refining industry will also be quite strong due to healthy volume growth in hydroprocessing catalysts, and increased refined product output in the Africa/ Mideast and Asia/Pacific regions. Global efforts to reduce air pollution by lowering sulfur content in motor vehicle fuels will continue to boost catalyst loadings, as will the ongoing shift toward heavier grades of crude oil (which have higher sulfur levels), and the development of unconventional petroleum resources such as Canada’s tar sands. In the Africa/Mideast and Asia/Pacific regions, growing motor fuel demand due to the rapid rise of the middle class and the rapid expansion of the motor vehicle fleet will lead to strong growth in new refinery construction and expanded refined product output.
Chemical industry to exhibit healthy but slower growth
The chemical industry will experience the slowest growth in catalyst demand going forward, though it will remain quite healthy. In particular, organic synthesis catalyst demand will be impacted in the near term by a dearth of new products in the pharmaceutical industry. However, this will be offset somewhat by the expansion of the petrochemical industry in Eastern Europe (especially in Russia), and the Africa/Mideast and Asia/Pacific regions. Also, the recovery of the global fertilizer industry and the development of new gas-,coal-, and biomass-to-liquids facilities will help drive strong synthesis gas catalyst demand, particularly over the longer term.
Study coverage
This new industry study, World Catalysts, presents historical demand data (1997, 2002 and 2007) plus forecasts for 2012 and 2017 by material, product and market. Demand data is also provided by type in 6 regions and 18 countries. In addition, this study also assesses market environment factors, evaluates company market share and pro- files 35 industry competitors worldwide.
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