Catalysts demand in 2012 was worth USD 19.2 billion and is forecast to reach USD 24.1 billion by the end of 2018, growing at a CAGR of 3.9% from 2012 and 2018. North America had garnered highest revenue share in the global catalysts market in the year 2012. The global catalysts market is dominated by Asia Pacific, which accounted for 33% of total volume consumed across the world in 2011.
Growth of the catalysts market in Asia Pacific is mainly driven by growing demand from the chemicals industry. Asia Pacific is leading the global chemical industry in terms of both production and consumption.
The demand for catalysts in Asia Pacific is expected grow at a rapid pace as compared to North America and Europe. Asia Pacific was followed by North America with 30.6% share in total volume consumption. Growth of the catalysts market in North America is mainly driven by growing demand for catalysts from petroleum refineries. Europe is another important geography, where increasingly stringent regulations are driving demand for environmental catalysts.
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