The market for aluminum nickel catalysts market is expected to grow at a CAGR of over 4% during the forecast period. The major factor driving the growth of the market studied is the augmenting demand for hydrogenation reactions.
New York, March 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aluminum Nickel Catalysts Market Size - Segmented by Foam Type, Product Type and Geography - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05867443/?utm_source=GNW
On the flipside, low stability and safety issues related to aluminum nickel catalysts are expected to hinder the growth of the market studied.
- Booming natural gas production to provide future opportunities for hydrodesulfurization is likely to provide a major growth opportunity for the market studied during the forecast period.
- The hydrogenation segment accounted for the largest share, holding around 73% of the total market share.
Key Market Trends
Soaring Demand From Hydrogenation Applications
- Aluminum nickel catalyst (Raney nickel catalyst) is mostly composed of nickel derived from nickel and aluminum alloy in the presence of concentrated sodium hydroxide (NaOH).
- The aluminum nickel catalyst is majorly used in the hydrogenation of a large number of functional groups, including carbon-carbon double bond, nitro, azide, nitrile, oxime groups. Moreover, this catalyst is also used in hydrogenation reactions, which involve very high pressure and temperature.
- Additionally, aluminum nickel catalysts are also used in a range of other hydrogenation applications, including nitro compounds, amines, carbonyls, alcohols, nitriles, amines, olefins, acetylenes, and saturates. Also, they are widely used in reductive alkylation, reductive amination, and ammonolysis of alcohol.
- The final use of these hydrogenation reactions is majorly found in food processing, petrochemical, and petroleum industry.
- In the petroleum industry, hydrogenation is used in a process called hydrocracking, which breaks heavy crude’s long hydrogen carbon chains into lighter petroleum products, such as diesel, gasoline, and jet fuel.
- Such industrial applications of hydrogenation are expected to drive the market for aluminum nickel catalyst during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific region dominated the market with a share of almost 30% with China and India being the major consumers of the market.
- For instance, most of the caprolactam is synthesized from cyclohexanone, which utilizes catalysts, like Aluminum-Nickel. The caprolactam production in China has been on rise, due to increased demand from Nylon-6 production.
- The caprolactam production capacity of China has increased by over 30% in 2019, from 2017 level in the country. The production capacity is expected to increase further over the next 5 years.
- Aluminum-Nickel Catalysts are used in the production of Sorbitol. China is the major producer of sorbitol in the world. It accounts for around 40-45% of the global production capacity of the sorbitol.
- Additionally, The sales volume of margarine and spreads in India increased by over 80%, in the last fiver years, owing to the increased penetration of western foods in India.
- Evonik is the largest supplier of aluminum-nickel catalysts in India, followed by Vineeth Precious Catalysts Pvt Ltd.
- All these factors are expected to increase the demand for Aluminum-Nickel catalysts
The global Aluminium nickel catalysts market is partially consolidated, as top five companies in the market account for approximately ~52% of the market. Some of the major players in the market studied include BASF SE, Clariant, W. R. Grace & Co, Johnson Matthey, and Haldor Topsoe AS, among others.
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