Abstract
Global value demand to rise 6.3% annually through 2012
World catalyst demand will expand at a 6.3 percent annual pace to $16.5
billion in 2012, with volume demand growing at a 1.9 percent annual pace to
5.3 million metric tons. Growth will be strong across all market segments as
high energy prices help support increased catalyst demand as a means of
improving productivity. Average prices will also continue to advance due to a
combination of underlying support from strong demand, and a shifting product
mix toward higher cost/ more efficient products.
Rapidly rising energy prices over the 2002 to 2007 time period have
dramatically increased raw material and production costs throughout the
chemical, refining and polymer industries. Companies have responded by looking
to increase both energy efficiency and productivity in their processes and
operations, which in turn has boosted demand for catalysts. With energy prices
expected to remain elevated from historical levels throughout the forecast
period due to a tight balance between supply and demand, companies in all
three sectors are expected to continue to pursue policies that favor increased
catalyst demand, including upgrading to new, more efficient catalysts, as well
as renewing or regenerating catalysts on a more frequent basis to maximize
catalyst efficiency.
Polymerization catalysts to lead growth, petroleum refining also strong
The fastest growth in catalyst demand going forward will be polymerization
catalysts, due in part to a rapid expansion in polymer capacity in the
Africa/Mideast and Asia/Pacific regions. Additionally, in several cases
companies are opting to use newer, more active (and more expensive)
single-site polymer catalysts in place of traditional alternatives, which will
drive value gains.
Catalyst demand in the petroleum refining industry will also be quite strong
due to healthy volume growth in hydroprocessing catalysts, and increased
refined product output in the Africa/ Mideast and Asia/Pacific regions. Global
efforts to reduce air pollution by lowering sulfur content in motor vehicle
fuels will continue to boost catalyst loadings, as will the ongoing shift
toward heavier grades of crude oil (which have higher sulfur levels), and the
development of unconventional petroleum resources such as Canada' s tar sands.
In the Africa/Mideast and Asia/Pacific regions, growing motor fuel demand due
to the rapid rise of the middle class and the rapid expansion of the motor
vehicle fleet will lead to strong growth in new refinery construction and
expanded refined product output.
Chemical industry to exhibit healthy but slower growth
The chemical industry will experience the slowest growth in catalyst demand
going forward, though it will remain quite healthy. In particular, organic
synthesis catalyst demand will be impacted in the near term by a dearth of new
products in the pharmaceutical industry. However, this will be offset somewhat
by the expansion of the petrochemical industry in Eastern Europe (especially
in Russia), and the Africa/Mideast and Asia/Pacific regions. Also, the
recovery of the global fertilizer industry and the development of new
gas-,coal-, and biomass-to-liquids facilities will help drive strong synthesis
gas catalyst demand, particularly over the longer term.
Study coverage
This new Freedonia industry study, World Catalysts presents historical demand
data (1997, 2002 and 2007) plus forecasts for 2012 and 2017 by material,
product and market. Demand data is also provided by type in 6 regions and 18
countries. In addition, this study also assesses market environment factors,
evaluates company market share and profiles 35 industry competitors worldwide.
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