US Organic Catalyst Market
ID: MRFR/CnM/13004-US | 100 Pages | Author: MRFR Research Team| December 2023
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ID: MRFR/CnM/13004-US | 100 Pages | Author: MRFR Research Team| December 2023
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The Global Organic Catalyst Market, valued at approximately USD 550 million in 2018, is anticipated to grow at a Compound Annual Growth Rate (CAGR) of over 4.8% throughout the forecast period. This growth is fueled by a shift towards the principles of green chemistry among individuals worldwide, emphasizing environmentally friendly practices.
The North American regional market secured the second-largest share in the organic catalyst market in 2018, with the United States leading the way. The expansion of the organic catalyst market in this region is attributed to its substantial pharmaceutical sector, where the use of organic catalysts is crucial for the efficient production of pharmaceutical products. This factor contributes significantly to the overall growth of the regional market.
In Latin America, the organic catalyst market is gaining momentum, driven by the burgeoning agriculture industry in countries such as Brazil and Argentina. This agricultural expansion is expected to drive the demand for organic catalysts, propelling growth in the regional market.
The Asia-Pacific region emerged as the market leader in 2018, commanding more than a 40% share. Forecasts indicate that this region is poised to achieve the highest CAGR during the forecast period. Following closely, North America held the second-largest market share in 2018, trailed by Europe, which accounted for approximately 20% of the market share that year. Anticipated growth is also expected in the Latin American and the Middle East & African markets over the forecast period.
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