Nanocatalysts Market Value Projected to Expand by 2021
Added: (Wed Jan 16 2019)
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Catalyst with nanoparticles is termed as Nanocatalysts. It has nanoscale materials with at least one nanoscale dimension, or some time it has modified nanoscale structure to increase the catalytic properties. Catalysts are use for accelerating or decelerating the rate of change of the chemical reactions without being consumed or without any permanent physical or chemical changes within themselves. Nanocatalysts are extensively used in an array of application such as food processing industries, pharmaceuticals, oil and refinery and chemical industry. Nanocatalysts provide a larger surface area to speed the rate of reactions. Normally catalyst materials which are not catalytic when it is present in mass can become catalytic when it gets nanoscaled. Moreover nanotechnology provides custom design specification to catalysts in order to facilitate faultless selectivity in a catalyst based reaction.
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In the refinery and oil and gas industry, nanocatalysts materials are used in various applications such as catalytic cracking of the petroleum, heavy-oil up gradation, cleaning up oil drip, desulphurization, rectification, coal liquefaction and biodiesel and ethanol generation. Nanocatalyst is also used in removal process of various impurities found in petroleum such as sulphur, nitrogen and other metals mainly to minimize the toxic gases emission. The use nanocatalyst also enhances some of the most imperative physical properties of oil and gases such as frictional properties and overall temperature stability of the petroleum products. It also reduces octane and sulphur content found in fossils fuels to reduce carbon footprints and to increase viscosity of the petroleum product.
On the basis of the chemical properties of the nanocatalyst the global nanocatalysts market can be segmented four different categories namely nanoparticulate catalysts, nanoporous catalysts, nanocrystalline catalysts, and supramolecular catalysts. Based on the end user application of nanocatalyst the nanocatalysts market can be broadly categorised as refinery, petrochemical, chemical industry, pharmaceuticals, food processing, and environmental applications. The refinery industry grasped the largest market share among all other end user application segment for nanocatalysts in 2013, whereas the environmental applications segment is exhibiting the fastest growth in 2013.
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Worldwide increasing demand for cost-effective renewable energy resources, growing awareness towards reducing carbon footprints coupled with depleting fossils fuel resources are some of the major drivers of the nanocatalysts market. Moreover the various performance and cost benefits associated with nanocatalysts is making it one of the popular alternative of conventional catalyst in food and beverages industries which in turns driving the market for nanocatalysts. The evolution of low-cost metal nanocatalysts with superior performance in chemical processing is providing new growth opportunities for the nanocatalysts material particularly in chemical industry.
Asia Pacific is the largest market of nanocatalysts followed by North America and Europe. Asia Pacific is also the fasted growing market of nanocatalysts attributed to the growing allied industries such as pharmaceuticals, food and beverages and oil and refinery which in turns helping the market of nanocatalysts in this region.
Some of the major companies operating in global nanocatalysts market include, Argonide Corporation, Bayer Ag, BASF Catalyst LLC, Catalytic Solution, Inc., Genencor International, Inc., Evonik Degussa GmbH, Headwaters Nanokinetix, Inc., Johnson Matthey Plc., Mach I, Inc., Nanophase Technologies Corporation, Hyperion Catalysis International, NanoScale Corporation, Oxonica, PQ Corporation, NexTech Materials Ltd. Sachtleben Chemie Gmbh., Zeolyst International and Umicore.
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