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Demand for energy and environmental protection catalysts
According to a recent report from BCC Research, a leading U.S.-based market research firm, the global energy and environmental catalyst market reached $12.2 billion in 2006. The market is projected to grow steadily, reaching $13 billion in 2007 and expected to hit $18.5 billion by 2012, reflecting an average annual growth rate of 7.4%. This growth is driven by increasing demand for cleaner technologies and stricter environmental regulations worldwide.
Refining catalysts continue to dominate the energy catalyst sector, holding nearly 90% of the market share in 2006. However, this share is expected to gradually decline through 2012, mainly due to the growing adoption of synthetic fuels and biofuels. Despite this, refining catalysts will still account for approximately 75% of the energy catalyst market by 2012, highlighting their continued importance in the industry.
In the environmental catalyst segment, catalysts used for reducing emissions from mobile sources—particularly those in automotive exhaust catalytic converters—held nearly 50% of the market in 2006. Meanwhile, catalysts designed for stationary sources, such as those used in power plant emission control systems, accounted for about 31% of the market. These figures underscore the significant role of catalysts in both industrial and transportation sectors in mitigating environmental impact.