Industry Background:
Solid Acid Catalysts are broadly used in various industrial and petrochemical processes. Due to their eco-friendly nature and recyclable nature, they are preferred over liquid acid catalysts. Regulations surrounding climate change, toxic and hazardous chemicals, and pollutants left in the environment have also started the shift towards solid acid catalysts. Solid Acid catalysts have unique properties of hydrophilicity. This is the reason why solid acid catalysts are widely used in catalyst reactions such as esterification, acylation, condensation, hydration, etc. With the enhanced focus on sustainability, solid acid catalysts will grow in demand.This growth is primarily driven by Sustainable Alternative to Traditionally Used Liquid Acid Catalysts, Produces Less Waste than Liquid Acid Catalyst, Stringent Regulations against Toxic or Hazardous Pollutants Such as Liquid Acid Catalysts is also Driving Industry towards Environment Friendly Solid Acid Catalysts and Increase in Investment and Demand for Bio Diesel and Shale Oil has also Resulted in Increasing Demand for Solid Acid Catalysts.
Globally, a noticeable market trend is evident Use of Biodiesel in North America is Growing Trend Due to High Prices of Petroleum or Fossil Derived Fuels. Major Vendors, such as BASF SE (Germany), Evonik Industries AG (Germany), W. R. Grace & Co.-Conn. (United States), Johnson Matthey Plc (United States), Albemarle Corporation (United States), Exxon Mobil Corporation (United States), Clariant International Ltd. (Switzerland), Axens SA (France), Umicore (Belgium) and Honeywell UOP (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2021, Clariant Chemicals, a Swiss multinational giant in specialty chemicals announced the acquisition of majority stakes of 51% in India Glycols. With the completion of this deal, Clariant looks to expand its presence and capacity in India especially in the field of nutraceuticals, and specialty chemicals.
Market Drivers
- Sustainable Alternative to Traditionally Used Liquid Acid Catalysts
- Produces Less Waste than Liquid Acid Catalyst
- Stringent Regulations against Toxic or Hazardous Pollutants Such as Liquid Acid Catalysts is also Driving Industry towards Environment Friendly Solid Acid Catalysts
- Increase in Investment and Demand for Bio Diesel and Shale Oil has also Resulted in Increasing Demand for Solid Acid Catalysts
Market Trend
- Use of Biodiesel in North America is Growing Trend Due to High Prices of Petroleum or Fossil Derived Fuels
Restraints
- Due to Global Decline in Air Travel in Covid-19 has resulted in Decline for Fuel
- Increased Investment in Electric Vehicles will Negatively Impact Petrol and Biodiesel Driven Vehicles
Opportunities
Innovation in Cleaner and More Reactive Solid Acid Catalysts to Overcome Existing Catalytic Limitation of Solid Acid Catalysts
Challenges
Lower Reaction Rate than Liquid Acid Catalysts Due to Lower Porosity Rate and Limited Active Site of Solid Acid Catalysts, Limits the Use of Solid Acid Catalysts to Certain Industries Only
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Solid Acid Catalyst Study Sheds Light on
The Solid Acid Catalyst Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Solid Acid Catalyst industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Solid Acid Catalyst industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.