Sacramento News-Online

Europe Homogeneous Precious Metal Catalyst Market is Expected To Reach USD 2.4 Billion By 2028 | Grand View Research, Inc.

 Breaking News
  • No posts were found

Europe Homogeneous Precious Metal Catalyst Market is Expected To Reach USD 2.4 Billion By 2028 | Grand View Research, Inc.

January 21
05:16 2022
Europe Homogeneous Precious Metal Catalyst Market is Expected To Reach USD 2.4 Billion By 2028 | Grand View Research, Inc.
“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, the market is also expected to witness a significant hike in demand amid the Covid-19 pandemic as PGM catalysts are utilized in the formulation of several APIs, such as a few antibiotics used for Covid-19 treatment. Homogeneous precious metal catalysts, the directed synthesis of a composite organic intermediate, can be completed catalytically to deliver a product that could not be obtained by other means.

The Europe homogeneous precious metal catalyst market size is expected to reach USD 2.4 billion by 2028 registering a CAGR of 18.9% over the forecast period, as per a new report by Grand View Research Inc. Increasing preference for homogeneous catalyst over heterogeneous ones owing to their specific features, especially associated with selectivity, drive the market growth. Furthermore, the market is expected to witness a significant hike in demand amid the Covid-19 pandemic as PGM catalysts are utilized in the formulation of several APIs, such as a few antibiotics used for Covid-19 treatment.

The demand for the product is likely to be prominent from the pharmaceutical & biomedical and petroleum refining end-use industries. In addition, the presence of refineries at prime locations, coupled with top oil & gas companies, is estimated to contribute to the product demand. Moreover, growth in the agrochemicals and power generation sectors in the European economies is anticipated to augment the product demand over the forecast period.

In addition, the market is expected to witness significant growth over the forecast period owing to the benefits it has received from high-value product segments. For instance, the application of catalysts in an automobile reduces carbon emissions that are harmful to the environment and, thus, their application is highly promoted by the governments. In addition, increasing energy demand from economies, such as France, Slovakia, Hungary, Belgium, Sweden, and Bulgaria, is likely to drive the market.

The presence of adequate oil reserves in countries including Russia, Norway, the U.K., and Italy, is expected to further complement the market growth in the region. Consequently, major market participants are shifting their focus toward increasing capacities and catering to the growing demand across geographies. Market players in the region are focusing on innovation for the development of advanced products to exhibit better performance during the process. Such factors have bolstered the market growth in the region. However, the Covid-19 pandemic has affected several key economies, such as Italy and Germany, limiting the market growth.

The governments in these countries had imposed complete lockdown, which restricted the movement of all forms hampering the overall oil consumption by the transportation sector. In addition, curtailed commercial and industrial activities have further reduced fuel consumption. Consequently, refiners are forced to cut their production instantly, which may result in high expenses once the situation settles. Furthermore, some refiners are projected to lose their share to competitors, which is expected to hamper the overall product demand in the short run.

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/europe-homogeneous-precious-metal-catalyst-market

Europe Homogeneous Precious Metal Catalyst Market Report Highlights

  • The market is moderately consolidated with the presence of multinationals striving to fulfill the rising demand

  • Market players are intensely focused on optimizing & managing supply efficiency and ensuring their ability to compete with other players by enhancing operating efficiency, increasing productivity, reducing lead time, and addressing sourcing requirements

  • Manufacturers supply their products to various end-use industries, including pharmaceutical & biomedical, refineries, agrochemicals, electrochemical, and power generation, through various distribution channels, such as direct-supply contracts and third-party supply contracts with vendors and wholesalers

  • Strategic alliances by key players with research institutions to enhance product innovation capabilities are likely to be witnessed more during the forecast period

  • The introduction of different recycling concepts for metal catalysts; for instance, with organic solvent nanofiltration or scrap catalytic converter recycling, is predicted to drive the market

For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/europe-homogeneous-precious-metal-catalyst-market/request/rs1

Europe Homogeneous Precious Metal Catalyst Market Segmentation

Grand View Research has segmented the Europe homogeneous precious metal catalyst market on the basis of product, end-use, and country:

Europe Homogeneous Precious Metal Catalyst Product Outlook (Volume, Tons; Revenue, USD Million, 2017 – 2028)

  • Platinum

  • Palladium

  • Rhodium

  • Ruthenium

  • Iridium

  • Gold

  • Others

Europe Homogeneous Precious Metal Catalyst End-use Outlook (Volume, Tons; Revenue, USD Million, 2017 – 2028)

  • Pharmaceutical & Biomedical

  • Refineries

  • Agrochemicals

  • Fine Chemicals

  • Electrochemical

  • Power Generation

  • Other Industrial

Europe Homogeneous Precious Metal Catalyst Country-wise Outlook (Volume, Tons; Revenue, USD Million, 2017 – 2028)

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Russia

  • Poland

List of Key Players of Europe Homogeneous Precious Metal Catalyst Market

  • Alfa Aesar

  • Heraeus Holding

  • BASF SE

  • Evonik Industries AG

  • Johnson Matthey

  • Clariant AG

  • Haldor Topsoe

  • Umicore

  • American Elements

  • Chimet S.p.A.

  • Shaanxi Kai Da Chemical Engineering Co., Ltd.

  • Sabin Metal Corp.

Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/451263/ibb

 

About Grand View Research

 

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/europe-homogeneous-precious-metal-catalyst-market