BCC Forecasts Growth for Energy and Environmental Catalysts (posted 7/20/07)
In a recently published BCC Research report, “Catalysts for Energy and Environmental Applications (CHM020C),” the global market for energy and environmental catalysts was worth an estimated $12.2 billion in 2006. The market is projected to grow to $13.0 billion in 2007 and $18.5 billion in 2012, at a compound annual growth rate (CAGR) of 7.4% from 2007 to 2012.
Energy catalysts will see a 7.7% CAGR, increasing from $3.4 billion in 2007 to $4.9 billion in 2012. Environmental catalysts will increase from $9.6 billion in 2007 to $13.6 billion in 2012, a 7.2% CAGR.
The refinery industry accounted for almost 90% of the energy catalyst market, but refinery catalysts are projected to lose market share from 2006 to 2012 as other energy applications, particularly synfuels and biofuels, consume increasing amounts of catalysts. However, refining will still account for nearly 75% of the energy catalyst market in 2012.
Mobile source air pollution remediation applications, particularly vehicle catalytic converters, accounted for almost 50% of the environmental catalyst market in 2006, followed by stationary source air pollution applications (e.g., power plant emissions controls) with 31% of the market. The market for catalysts used in stationary source applications is projected to grow rapidly, mainly due to new environmental regulations in the U.S., so that by 2012 stationary source applications are projected to have a 50% share of the environmental catalyst market.
Additional details are available at www.bccresearch.com.