Catalyst Market Overview:
Catalyst market was valued at $28,567 million, and is expected to reach $40,000 million by 2022, supported by a CAGR of 4.8%. Catalysts modulate the rate of chemical reaction by lowering or raising the activation energy of the process. However, they are not consumed during the reaction; moreover, spent catalysts can be reused after treatment. Various catalysts available in the market include zeolites, enzymes, chemical compounds, and metals that are used in industries such as automotive, industrial reactions, oil & gas, construction, and others. Biocompatibility of enzyme catalysts has made it ideal for use in manufacture of a wide range of life science and food products such as ointments, cosmetics, packaged foods, and modified dairy products.