- Press Release -

As per industry analysis on selective catalytic reduction (SCR) catalyst market by Fact.MR, the market is anticipated to be valued at US$ 2.1 Bn by 2021end, expanding at a healthy CAGR of 9% over the forecast period 2021-2031.

The demand for electricity across the world continues to grow due to the increasing prosperity in the rapidly expanding economies, which is uplifting millions of people. Despite the rapid growth in the renewable energy sector, coal-fired thermal power plant continues to rise in most of the developing countries owing to the rise in the electricity demand coupled with the growing population.

With the rise in coal fired energy production, regulatory bodies are tightening the belts of effluent norms which shall not only reduce the effluent reduce but also assist the manufacturers to effectively debottleneck the plants, suggests Fact.MR - market research and competitive intelligence provider.

The selective catalytic reduction (SCR) catalyst market is anticipated to create an absolute dollar opportunity over US$ 2.5 Bn over the forecast period (2021-2031).

Key Takeaways from Study

• Global selective catalytic reduction catalyst market has witnessed a growth of 9.4% between 2016 to 2020 and has created absolute $ opportunity worth US$ ~539 Mn in the same timeframe
• Escalating demand in power plant and automotive plants are set to drive the global selective catalytic reduction catalyst market at a CAGR of 8.6% during the forecast period
• Global selective catalytic reduction catalyst market is set to create absolute $ opportunity worth US$ 2,258 Mn by 2030.
• Increasing consumption of selective catalytic reduction catalyst in range of industries and applications will create significant demand of 1,051 Kilo Tons in 2031
• East Asia region is expected to create absolute $ opportunity of US$ 768.3 Mn where as other region such as North America and Europe are anticipated to create absolute $ opportunity of US$ 346.9 Mn and US$ 641.4 Mn respectively by 2031

“Increased Infiltration of Diesel Engine Vehicles Speculating the Demand for SCR Catalyst” says a Fact.MR analyst.

Winning Strategy

The global SCR catalyst market is partially consolidated in nature, where the top four players currently account for near half of the global production and sales. Currently, BASF SE, Johnson Matthey, Ceram-Ibiden, and Haldor Topsoe are the key stakeholders in selective catalytic reduction catalyst market.

Companies with economies of scale have an edge over other players to leverage products at lower prices, which is set to enhance marginal revenue. Over 75% of the companies in the market associated with DeNOx and DeSOx, owing to their extensive consumption across the globe.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global selective catalytic reduction (SCR) catalyst market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.

The study reveals essential insights on the basis of type (DeNOx, DeSOx, others), by application (automobile, power plants, cement plants, refinery plants, steel plants, others) and across key regions namely North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa.

About the Chemicals and Materials Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Yash Pathak

Fact.MR

Sr. Consultant – Chemical and Material

E-mail: yash@factmr.com