Precious metals such as palladium and platinum are applied to carrier material to get precious metal catalysts. The commonly used carrier materials are aluminum oxide or active carbon. Precious metal catalysts have a wide range of applications such as it is used as a catalytic convertor in automobile industry. Catalytic convertor is used to convert toxic vehicle emissions into less toxic pollutants. Platinum, palladium, and rhodium are the commonly used precious metals in catalytic convertors. In pharmaceutical industries, synthesis of many active pharmaceutical ingredients such as acetaminophen, L-dopa, carbapenam, and tetracycline is done in the presence of precious metal catalysts. These catalysts are used in preparation of bulk chemicals such as ammonia, hydrogen peroxide, phenols, and anilines. They are also used in the synthesis of polymers such as vinyl chloride, methyl methacrylate, and synthetic fibers such as nylon and polyester. Furthermore, they are used in hydrocarbon processing. For instances, platinum on alumina base is used for production of high-octane gasoline while platinum and palladium impregnated on silica-alumina base is used in the process for hydrocracking in refineries. They are used in petrochemical industries in the process of hydro purification. Precious metal catalysts are also used to reduce Emissions of Volatile Organic Compounds (VOCs) in refineries. The demand for precious metal catalysts is increasing owing to its applications in various industries and strict pollution control regulations.
The high cost, thermal degradation, and loss of activity due to poisoning are some of the factors hindering the growth of the global precious metal catalyst market.
Precious Metal Catalysts -Market Taxonomy
On the basis of product type, the global precious metal catalyst market is segmented into:
On the basis of end user, the global precious metal catalyst market is segmented into:
Platinum catalyst is widely used in automobile sector thereby making it the most commonly used precious metal catalyst owing to the stringent environmental requirements.
Precious Metal Catalysts -Market Outlook
Key Players in the Global Precious Metal Catalyst Market
The companies are adopting various strategies such as mergers and acquisitions to sustain their market positions. For instance, in March 2015, Monarch Catalysts Pvt. Ltd. acquired Evonik Industries AG. Some of the key players operating in the global precious metal catalyst market include Alfa Aesar, BASF SE, Clariant International Ltd, Evonik Industries AG, Heraeus Group, Johnson Matthey Plc, Umicore SA, and Vineeth Precious Catalysts Pvt. Ltd.
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