Hydrogenation catalysts are used in industries that use a main metal along with a promoter and/or inhibitor. Promoters are additives that enhance the activity, stability and processability of the metallic hydrogenation catalyst. Inhibitors or poisons are added to reduce or control the catalytic activity of the hydrogenation catalyst.
Hydrogenation catalysts are prominently used in the oil & gas industry for hydroprocessing (hydrotreating and hydrocracking processes) and are prominently metal – based catalysts.
Based on form, homogeneous hydrogenation catalysts offer several advantages over their heterogeneous counterparts. Their higher solubility leads to the use of each molecule for the hydrogenation reaction and hence, these catalysts utilize low volumes.
In case of heterogeneous hydrogenation catalysts, only the surface is available for the reaction, which limits its selectivity. The choice of the base metal in a hydrogenation catalyst is also quite crucial and the addition of promoters and inhibitors is mandatory during the manufacturing of a hydrogenation catalyst.
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Global Hydrogenation Catalyst Market: Dynamics
The Hydrogenation Catalyst market is a highly consolidated market and there is high competition among the few market participants who operate in the market. Hence, research & development investments are estimated to drive the market due to the introduction of novel products, manufacturing processes and/or application processes.
Hydrogenation catalysts producers engaged in research & development activities are also seen to have a competitive edge as they are able to offer customized products to end users in order to meet their specific requirements.
The regeneration of a catalyst also plays a significant role in its consumption and hence, the hydrogenation catalyst manufacturers work closely with end-use industries to gain knowledge about the processes employed.
However, owing to the slowdown in the global financial growth, end-use industries have suffered and are posing obstacles to the growth of the hydrogenation catalyst market. The catalysts industry is under strict scrutiny from the environmental authorities.
With the introduction of “Energy and GHG Reductions in the Chemicals Industry via Catalytic Processes, 2013”, technology roadmap by ICCA/DECHEMA/IEA, the introduction of greener hydrogenation catalysts or processes producing lesser GHGs can be expected in near future.
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Global Hydrogenation Catalyst Market: Regional outlook
Regionally, the hydrogenation catalyst market is anticipated to follow the growth of end-use industries in different regions. Asia Pacific is expected to be one of the leading consumers of hydrogenation catalysts. With rising investments in oil & gas exploration activities, mainly fueled by North America, the region is anticipated to register higher investments by manufacturing players.
Middle East & Africa is one of the prominent producers of fuel and the demand for hydrogenation catalysts is estimated to follow an upward trajectory during the forecast period. The chemical industry is growing at a moderate pace globally and the market for hydrogenation catalysts is expected to grow in tandem with it.
Some of the market participants identified across the value chain of the global hydrogenation catalyst market are BASF SE, Reaxa Limited, Evonik Industries AG, SOLVIAS AG, W. R. Grace & Co.-Conn., Clariant, Johnson Matthey, CRI/Criterion Inc., Axens, Honeywell International Inc., Haldor Topsoe A/S, Albemarle Corporation, SINOPEC Catalyst Company, China National Petroleum Corporation, ReZel Catalysts, among others.
Regional analysis for the Hydrogenation Catalyst market includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Japan
Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The Hydrogenation Catalyst report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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