Global Polymerization Catalysts market to reach US$6298 mln in 2020

Global Polymerization Catalysts market by revenue was US$4,439.9 mln in 2014, and is projected to reach US$6298 million in 2020, thereby witnessing a growth of CAGR 6%, as per Mordor Intelligence. The developing regions of South America and Asia Pacific are expected to increase its market share in the future owing to the growing purchasing power in the developing countries. According to our analysis, plastic products will continue to displace other materials in a variety of applications, while rising incomes in developing nations will also contribute to additional plastic consumption. Ziegler- Natta and single-site catalysts will benefit most. Rapid growth is expected to occur in both Asia and the Middle East. In Asia, growth will be led by China and India, and result from rapid industrialization and expansion of the refining, chemical and polymer industries in both countries. China's rising income levels, vehicle ownership rates, and industrial activity will all contribute to strong growth in demand for catalysts. In the Middle East, Saudi Arabia and other large oil and natural gas producers will continue efforts to expand and diversify their economies by investing in new chemical and petroleum refining capacity. Polymer producers in the Middle East will increasingly compete in global markets. Brazil will lead strong growth in Central and South America. The country is beginning to successfully develop its natural gas and oil resources. This will provide a competitive advantage for chemical and polymer producers, while the nation's large population will provide a strong market for products manufactured with the use of catalysts. Catalyst demand in North America will see healthy growth as well, due largely to a rebound in chemical and polymer production as companies take advantage of comparatively low natural gas prices. BASF SE, Bayer, Clariant International Ltd., Johnson Matthey Inc., Kbr Inc., UOP LLC, Dow Chemicals and Nova Chemicals Corporation among others are some of the major global companies included in this report. Expansion of polymer resin production, stringent environmental regulations is seen as the major driver for the polymerization catalyst market. Also the increasing refinery market output in Africa, Middle East and Asia Pacificshows the trend towards higher consumption of these catalysts. The industry is expected to face certain challenges such as high manufacturing costs and also the fluctuating prices for precious metals used for production. Backward integration and Research & development to reduce cost and improve quality are seen as the opportunities which the manufacturers should focus to tap in for better capturing of the market.