Billions of nanocatalysts
3 Jun 2004
According to a new report from Business Communications Company, the global market for nanocatalysts is projected to approach $3.7 billion in 2004 and is expected to reach $5.0 billion in 2009.
Commercially well-established nanocatalysts such as industrial enzymes, zeolites, and transition metal nanocatalysts accounted for about 98% of global nanocatalyst sales in 2003.
However, the markets for other, newer types of nanocatalysts are growing faster than the established markets. Transition metal oxide, metallocene, asymmetric (chiral), carbon nanotube and other types of nanocatalysts are expected to more than triple their combined market share between 2004 and 2009, from 2% to 6.8%.
The refining/petrochemical sector was the largest user of nanocatalysts in 2003, accounting for more than 38% of the market, followed by chemicals/pharmaceuticals (19.6%), food processing (19%), and environmental remediation (13.4%).
Once again, it is the smaller end-user segments whose consumption of nanocatalysts is growing the fastest, particularly polymers, with an average annual growth rate (AAGR) of 22.9% between 2004 and 2009, energy (34.5%), nanotechnology (90.4%) and miscellaneous applications such as hydrophilic coatings (35.7%). All of these segments are expected to increase their share of the nanocatalyst market significantly by 2009.
However, while the market outlook for most types of nanocatalysts is favourable, the projected growth rate of the nanocatalyst market is considerably less than the growth rate forecast for the nanotechnology market as a whole. The nanocatalyst market is projected to grow at an AAGR of 6.3% between 2004 and 2009, versus 30.4% for the overall nanotechnology market.
