Biofuels Catalysts Market Overview & Potential Growth Opportunities Report | Key Players W.R.Grace & Co., BHR Biofuels Ltd., BASF SE, & Solvionic S.A: Radiant Insights, Inc.
SAN FRANCISCO, Aug. 20, 2019 /PRNewswire/ -- The global Biofuels catalysts industry is expected to display higher growth rate over the coming years. Rapid surge in Biofuels Catalysts Market is credited to the increasing focus towards incorporation of renewable energy and depletion of fossil fuels. Favorable government policies to curb carbon emission are expected to drive the growth of market over the forecast period. Globally, biofuels catalysts market is predicted to generate massive revenue over the next seven years, providing numerous opportunities for industry participants to invest in research and development of biofuel catalysts.
Development of advanced biofuels with the help of catalysis process, thus producing a renewable transportation fuel is the key market trend associated with biofuels catalysts industry. These types of advanced biofuels are increasingly used in conventional engines and existing infrastructure. Use of solid biofuel catalyst for production of advanced biofuels and cellulosic biofuels with high efficiency and implementing low cost solution is expected to fuel market demand over the coming years. Increasing adoption of biofuel catalyst to support incorporation of biomass for transportation fuels is strengthening market growth as well.
Additional advantages of biofuels including no requirement of purification process are projected to favor market developments over the coming years. Increasing investment by large-scale businesses for research & development activities to enhance capability and selectivity of existing catalysts for renewable applications, is estimated to augment the growth of biofuel catalyst market in the years to come. The biofuels catalysts industry is divided as per product basis such as alkaline catalyst, acid catalyst, and enzyme catalysts. Alkali and acid catalysts are increasingly adopted for manufacturing of biofuels due to their easy availability.
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The biofuels catalysts industry is broadly categorized into two major segments based on the application type such as refineries and oil processing enterprises. Oil processing enterprises segment is growing rapidly in the industry with substantial revenue generation in the last few years. Growing popularity of biofuels catalysts in oil processing enterprises segment is attributed to the easy availability of raw materials and increasing product penetration in the global market.