The global stationary catalytic systems market is prophesized to display a significant rise in the CAGR during the forecast period. Stationary catalytic systems are air clearing devices that help in controlling the Hazardous Air Pollutants (HAPs) and Volatile Organic Compounds (VOC) industrial emissions.
“Proliferating demand for potential power supply across industrial, residential, and commercial sectors has accelerated the demand for stationary catalytic systems. The global market is projected to showcase dominance with a substantial advancement in the catalytic oxidation metamorphosis of nitrogen oxide into innocuous nitrogen gas.”
Stringent government regulation and norms related to reducing the carbon footprint is driving the growth of catalytic systems market. Altering consumer interests and rising disposable income has incorporated the need for bringing in the latest technologies to cater to their demands. Oxidation catalysts have emerged as a major trend in treating carbon emissions and is anticipated to favor the market’s growth in upcoming years. Oxidation catalysts will register substantial growth over the next few years, owing to increasing attempts to reduce NOx content and meet environmental sustainability standards. Catalytic oxidation solution is replacing the conventional thermal incineration method as it offers lower capital equipment cost and truncated fuel consumption.
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Based on geography, the stationary catalytic systems market has been segmented into North America, the Asia Pacific, the Middle East, and Africa, and Latin America. Increasing industry inclination towards manufacturing and processing activities of metal refining, food, organic chemicals, rubber, polymers and resins production is positively impacting the industry growth in the Asia Pacific. Major investments made by China for building coal-fired power plant has encouraged the adoption of stationary catalytic systems and has contributed to the regional revenue share. sewage treatment and public transit project in Canada has demonstrated huge demand for stationary catalytic systems, further according to the market growth.
Some of the dominant players operating in the global market include Johnson Matthey, BASF, Amec Foster Wheeler, Ducon Technologies, Air Clean, Hamon Corporation, Babcock & Wilcox Enterprises, APC technologies, CORMETECH, MECA, and DCL International among others. The market players are pipelining business strategies to cut down manufacturing costs by laying a strong emphasis on new launches, collaboration and partnerships with fellow contenders, import and export status, acquisition and mergers, and supply chain management.
They have examined the diverse threats, and emerging disruptive technologies to shape the supply and demand of the stationary catalytic system market in the forthcoming years. The emerging companies have identified raw material suppliers, buyers, research investors and distributors of the stationary catalytic systems market. Johnson Matthey develops a full line of industrial catalysts that are extensively used for different power generating and manufacturing processes to control CO, NOx, VOC, and Particulate Matter (PM).
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