BASF SE (Germany) and Evonik Industries AG (Germany) are the Key Players in the Precious Metal Catalysts Market

The Precious Metal Catalysts Market size is estimated to grow from USD 14.37 billion in 2017 to USD 19.41 billion by 2022, at a CAGR of 6.19%.

Browse 133 Market Data Tables and 30 Figures spread through 178 Pages and in-depth TOC on "Precious Metal Catalysts Market “.

“The automobile sector is projected to grow at the highest rate during the forecast period”

The automobile sector dominated the market in 2016, and is projected to be the fastest-growing end-use sector over the next five years, as a result of the rising stringent emission standards and the growing automotive, refinery, and pharmaceutical industries. The newly developed emission standards demand additional improvements in catalyst technologies to successfully remove toxic substances from car exhausts, which will, in turn, drive the precious metal catalysts market growth through the automobile sector.

BASF SE’s Catalyst division set up a new mobile emission catalyst manufacturing site, which would replace the existing BASF plant in Chennai, India. The new site would comprise a new 47,000-square-meter production plant, with which company would double its catalyst manufacturing capacity in India in 2017.

The company also launched Camet ST sulfur-tolerant oxidation catalyst to control carbon monoxide emissions from natural gas power plants. It was designed to improve the ability of the catalyst to perform in the presence of most forms of sulfur contamination.

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In 2016, BASF launched BoroCat, its latest resid oil fluid catalytic cracking (FCC). BoroCast was the first FCC catalyst based on the boron-based technology (BBT), which was designed by BASF to optimize refiners’ production yields.

In 2015, BASF’s Catalysts division signed a long-term occupancy lease for a new global headquarters facility in Iselin, New Jersey, U.S. In 2014, BASF strengthened its manufacturing footprint in Asia-Pacific with a new, world-scale chemical catalysts production facility at the company’s existing site at Shanghai Chemical Industry Park in Caojing, Shanghai, China.

Evonik Industries AG made a low investment for expanding its catalyst production facility and scaling up operations at Marl Chemical Park (Germany) in 2016. The new facility would enable Evonik to scale up operations for fixed bed catalysts at Marl Chemical Park.

In 2015, Evonik commissioned a new pilot plant at its production site in Shanghai for precious metal powder catalysts (PMPC). The new pilot plant would accelerate the upscaling process for commercial catalysts and help Evonik offer customers with higher flexibility, customized solutions for developing and manufacturing pharmaceuticals, industrial & fine chemicals, and shorter turnaround time in China.

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