ACCESS Newswire
23 Sep 2020, 18:56 GMT+10
Leading SCR Catalyst players are focusing on product expansion and long term supply agreements to elevate market growth.
ROCKVILLE, MD / ACCESSWIRE / September 23, 2020 / The selective catalytic reduction catalyst market is slated to reach an estimation of over US$ 4 Bn towards 2030-end. The global market for SCR catalysts is projected to positively influenced by the adoption of SCR catalyst technologies in coal-fired thermal power plants as they are is extremely cost-efficient compared to other NOx removal technologies.
'SCR Catalyst will generate huge demand as it not only reduces NOx emissions by about 90% but also reduces carbon dioxide and hydrocarbon emissions up to 50-90%.' says the Fact.MR report.
Key Takeaways
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Key Drivers
SCR Catalyst Market - Constraints
COVID-19 Impact on Market
Unlike other industries, the COVID-19 pandemic has affected the market for the SCR catalyst mainly due to import-export disruptions prompting a drop in the accessibility of raw material. This has turned out to be the biggest challenge for manufacturers and result in a diminishing growth rate until the scenario gets better.
Explore the global Selective Catalytic Reduction Catalyst Market with 105 figures, 60 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4968/selective-catalytic-reduction-scr-catalyst-market
Competition Landscape
Key players functioning in the global SCR catalyst market are Johnson Matthey, BASF SE, Ceram-Ibiden, Cormetech, Envirotherm GmbH, Seshin Electronics, Haldor Topsoe, and JGC C&C. Major market players have purposefully located their manufacturing plants in the APAC region to diminish raw material procurement price and imposed custom duties. Manufacturers are also pushing for long-term supply agreements in order to sustain present competition in the market.
More on the Report
The FACT.MR's market research report provides in-depth insights into the Selective Catalytic Reduction (SCR) Catalyst market. The market is scrutinized based on type (DeNOx, DeSOx, and others) application (Power Plants, Cement Plants, Refinery Plants, Steel Plants, and Other Applications) across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).
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About Fact.MR
Fact.MR is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. Fact.MR is headquartered in Dublin, and has offices in Dubai. Fact.MR's latest market research reports industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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PR- https://www.factmr.com/media-release/1632/global-selective-catalytic-reduction-scr-catalyst-market
SOURCE: FactMR
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