Primary Reforming Catalyst Market Growth Focusing on Trends & Innovations during the Period Until 20
Primary reforming catalysts are various kinds of metal oxides that are used for facilitating the reforming process. Primary reforming catalyst are generally made up of nickel and oxides of copper, zirconium, aluminium & nickel.
[UKPRwire, Fri Jul 19 2019] The global primary reforming catalyst market is expected to be dominated by the Asia Pacific region with China leading the market in terms of production as well as consumption. India is also expected to witness sound growth in the demand for primary reforming catalysts owing to rapid growth in the automotive industry in the country. North America and Europe are collectively expected to hold a significant share in the Primary Reforming Catalyst Market and increase in the demand for green tires is expected to drive the demand for primary reforming catalysts in the coming years.
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Primary reforming catalysts are various kinds of metal oxides that are used for facilitating the reforming process. Primary reforming catalyst are generally made up of nickel and oxides of copper, zirconium, aluminium & nickel. Primary reforming catalyst are used in the steam reforming process. Primary reforming catalyst find applications in processes such as, hydrogen generation, ammonia production, formaldehyde production, syngas production and others. The activity of the primary reforming catalyst decides the yield and conversion of feedstock. The choice of a suitable catalyst for reforming processes is also necessary for efficient production output from the reforming plant.
The demand for primary reforming catalysts from petrochemical industries is on the rise. The rapid growth of the petrochemical industry has created an upsurge in the demand for primary reforming catalysts for the manufacturing of various chemicals and gases. The refinery catalyst market is also witnessing significant growth. Increase in the capabilities of refineries is boosting the demand for high-performance primary reforming catalysts, which is projected to continue over the forecast period. There has been a significant increase in the demand for hydrogen gas, ammonia, and other chemicals, which has been driving the primary reforming catalyst market. Strong growth of the global chemical industry and increase in the need for energy is expected to boost the demand for primary reforming catalysts during the forecast period.
One of the major challenge faced by the global primary reforming catalyst market is the need for continuous research & development for product improvement. Large players in the market are continuously focusing on innovations and the development of improved catalysts to maximise the process yield. Therefore, to sustain in the global competition is one of the major challenges faced by primary reforming catalyst manufacturers.
In addition, environmental regulations are getting stringent day by day, which is likely to act as a restraining factor for the primary reforming catalyst market during the forecast period.
Fluctuations in the prices of oil & gas are expected to affect the market for primary reforming catalysts during the forecast period.
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The development of new products through the research & development has been observed in the market. Changing requirements of reformers and chemical manufacturers are creating new opportunities for the manufacturers of primary reforming catalysts.
In addition, technology providers are signing long-term contracts with end users, which include refiners and chemical manufacturers, to garner a larger market share.
Significant investments and the recovering of the economies in Brazil and Argentina are projected to drive the Latin America primary reforming catalyst market. Middle East and Africa is projected to witness moderate growth in the demand for primary reforming catalysts over the forecast period.
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