Latest industry survey by Fact MR, predicts Selective Catalytic Reduction (SCR) Catalyst sales to swell at propelled CAGR through 2031, as chemical and materials sales gradually recover post disruptions caused by COVID-19. The report is aimed at furnishing insights into hidden growth opportunities and challenges. It also provides recommendations to aid businesses prep for unforeseen challenges.
The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.
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Selective Catalytic Reduction Catalyst Market Key Segments
SCR Catalyst Market by Type
SCR Catalyst Market by Application
- SCR Catalysts for Automotive
- SCR Catalysts for Power Plants
- SCR Catalysts for Cement Plants
- SCR Catalysts for Refinery Plants
- SCR Catalysts for Steel Plants
SCR Catalyst Market by Region
- North America SCR Catalyst Market
- Latin America SCR Catalyst Market
- Europe SCR Catalyst Market
- East Asia SCR Catalyst Market
- South Asia SCR Catalyst Market
- Oceania SCR Catalyst Market
- Middle East & Africa SCR Catalyst Market
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Key Takeaways from Study
- Global selective catalytic reduction catalyst market has witnessed a growth of 9.4% between 2016 to 2020 and has created absolute $ opportunity worth US$ ~539 Mn in the same timeframe
- Escalating demand in power plant and automotive plants are set to drive the global selective catalytic reduction catalyst market at a CAGR of 8.6% during the forecast period
- Global selective catalytic reduction catalyst market is set to create absolute $ opportunity worth US$ 2,258 Mn by 2030.
- Increasing consumption of selective catalytic reduction catalyst in range of industries and applications will create significant demand of 1,051 Kilo Tons in 2031
- East Asia region is expected to create absolute $ opportunity of US$ 768.3 Mn where as other region such as North America and Europe are anticipated to create absolute $ opportunity of US$ 346.9 Mn and US$ 641.4 Mn respectively by 2031
“Increased Infiltration of Diesel Engine Vehicles Speculating the Demand for SCR Catalyst” says a Fact.MR analyst.
In order to sustain existing market competition, majorly from European players, manufacturers have strategically located their production plants in the Asia Pacific region to reduce raw material procurement costs and additionally-imposed custom duties. In sync with this, major partnerships and long-term supply agreements have been observed in the market. New production plants are being set up, and the production capacities of existing plants are being ramped up.
- For instance, in June 2018, BASF and Citrine Informatics collaborated to use artificial intelligence (AI) to accelerate the development of new environmental catalyst technologies.
- Similarly, in Feb 2020, Haldor Topsoe launched the TITAN steam reforming catalyst series with boosted reliability and efficiency.