Rapid industrialization has led to perpetual emissions of pollutants. Strict efforts to reduce the same will spur Stationary Catalytic Systems Market. The governments of various countries have recognized that the reduction of harmful industrial pollutions is the need of the hour, which has prompted the enforcement of various directives to reduce GHG and carbon footprints and promote green construction. For instance, the Canadian Government has allotted nearly USD 12 billion in Budget 2016, for the development of sustainable infrastructure. Such government schemes coupled with mandatory regulations imposed on industries will stimulate global stationary catalytic systems market. According to Global Market Insights, Inc., “Stationary Catalytic Systems Industry, having been valued at USD 3 billion in 2015, is anticipated to record a revenue of USD 6 billion by 2014, with a CAGR estimation of more than 6% over 2016-2024.”
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Stationary catalytic systems are basically used to control pollutant emissions, owing to which they find huge applications in the chemical & petrochemical, power plant, cement, and metal industries. Huge demand from the petrochemical sector will propel stationary catalytic systems market from chemical & petrochemical applications, which is anticipated to cross a revenue of more than USD 700 million by 2024. Global requirement for uninterrupted power supply has led to an increase in the number of power plants worldwide, which will massively fuel stationary catalytic systems industry from power plants.
Here are the highlights of this market in terms of the technologies and regions:
- Catalytic oxidation process helps oxidize unstable organic compounds by means of catalysts. Its widespread applications in the resin, polymer, and rubber production sectors will contribute to the significant growth of catalytic oxidation stationary catalytic systems industry, which held a share of 36% of the overall revenue in 2015.
- The selective catalytic reduction process converts harmful nitrogen oxide into nitrogen gas and water vapor and is one of the most preferred technologies used to reduce harmful emissions. Selective catalytic reduction based stationary catalytic systems market was worth more than USD 2 billion in 2015 and is slated to grow at a rate of more than 5% over 2016-2024. This process has been deployed in more than 400,000 MW of coal-fired boilers in China under the coal fired boiler replacement program of 2012.
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- Speaking of China, the existing (900 GW) and rising (200 GW) number of coal-fired power plants in the country will positively influence regional stationary catalytic systems industry. Having accounted for more than 30% of the regional share in 2015 with a registered revenue of more than USD 500 million, China stationary catalytic systems market will foresee significant growth with a CAGR of 4% over 2016-2024.
- Peru stationary catalytic systems industry held more than 10% of the regional share in 2015. The rise in the mining activities coupled with the rapidly growing economy will stimulate Peru stationary catalytic systems market, which will surpass a revenue of USD 40 million by 2024.
- Germany accounted for more than 25% of regional revenue in 2015 and will cross USD 320 million by 2024. Powered by stringent regulations regarding industrial emissions, France stationary catalytic systems industry, with a regional share of over 15%, will cross USD 150 million by 2024. With Germany and France being the key contributors, Europe stationary catalytic systems market will witness remarkable growth over 2016-2024.
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Key players include McGill Air Clean LLC, CORMETECH, Ducon Technologies, Johnson Matthey, BASF, MECA, Amec Foster Wheeler, DCL International Inc., APC technologies, Babcock & Wilcox Enterprises, and Hamon Corporation.
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