The global catalyst market is forecast to expand
significantly over the next several years. According to various industry
reports, global catalyst demand is expected to increase from approximately $25
billion in 2018 to more than $35 billion by the mid-2020s.
Hydrocarbon Processing’s Construction Boxscore
Database is tracking more than $1.4 trillion in processing capacity projects
around the world. The significant increase in new petrochemical and refining
capacity is being led by an increase in petrochemical products and refined
fuels demand globally, particularly for the production of low- and
ultra-low-sulfur fuels. In turn, the demand for catalysts—to assist in these
necessary reactions—will increase significantly.
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