April 30, 2019
WELLESLEY, Mass., April 30, 2019–Demand from the automotive, construction and coatings industries is helping to drive growth of the global polymerization catalysts market, according to a report by BCC Research.
The market expects to see a compound annual growth rate (CAGR) of 5.4% through 2023, when it could be worth $5.5 billion, according to the report “Polymerization Catalysts: Technologies & Global Markets.”
“The polymerization catalyst occupies a significant position in the market due to the increasing applications of polymers across a wide range of industries,” notes report author Aneesh Kumar. The packaging industry along with building and construction account for the increasing application of polymers globally. In recent years, various vendors in the market have developed a few variations with existing catalysts to provide better properties to polymers.”
Market Challenges Include Pollution Concerns, Introduction of Bioplastics
Two primary factors challenging the market include concerns over pollution and the introduction of bioplastics. Plastics are a major pollution concern worldwide because of their toxic material composition and inability to biodegrade, and efforts to curtail them could dampen market expansion. Meanwhile, researchers are working on developing environmentally-friendly alternatives to plastics made from compounds such as potato starch and sugarcane which can biodegrade; the growing popularity of these materials could further impact market growth.
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Polymerization Catalysts: Technologies & Global Markets( CHM114A )
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