COVID-19 Impact on Aluminum-nickel Catalyst Market
- The COVID-19 outbreak hindered the demand for aluminum-nickel catalyst. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in slowdown and even halt in manufacturing operations, as well as general social activities.
- China constitutes the major demand for aluminum-nickel catalyst from many industries such as paints & dyes, polymers, chemical, and agrochemical. The COVID-19 disease started in China. Strict lockdowns were imposed in the country to control the spread. Trade activities with China were severely affected, which resulted in disruption in supply and demand. This also affected the aluminum-nickel catalyst market adversely, as supply from China was affected.
- Restriction and lockdowns affected the automobile sector. Transportation activities came to a halt. This adversely affected the demand for aluminum-nickel catalyst in rubber and petroleum industries.
Key Drivers of Aluminum-nickel Catalyst Market
- Aluminum-nickel catalyst is a high performance catalyst that is employed in a wide range of applications in different industries. Demand for aluminum-nickel catalyst is constant in petroleum as well as rubber, paint, and agrochemical industries. Rise in fuel consumption and increase in demand for aluminum-nickel catalyst in agrochemical and rubber industries is driving the aluminum-nickel catalyst market.
- Its effectiveness as a catalyst at very economical cost is another factor boosting the aluminum-nickel catalyst market. It is preferred over many other catalysts due to its lower cost as well as properties as a catalyst.
Restraints of Aluminum-nickel Catalyst Market
- Aluminum-nickel catalyst exhibits acute toxicity and has flammable nature due to atmospheric condition. This is expected to restrain the global aluminum-nickel catalyst market in the near future.
Asia Pacific to Constitute Significant Share of Global Aluminum-nickel Catalyst Market
- In terms of region, the global aluminum-nickel catalyst market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to dominate the aluminum-nickel catalyst market as major end-use industries such as automobile, chemical, and agrochemical have prominent presence in the region. Automobile industry in India and China is growing rapidly and has thus boosted the demand for aluminum-nickel catalyst in the rubber industry. This is likely to boost the aluminum-nickel catalyst market during the forecast period.
- North America and Europe are also key consumers of aluminum-nickel catalyst. Petroleum as well as rubber industries along with chemical and agrochemical industries are expected to generate continuous demand for aluminum-nickel catalyst in the near future.
Competitive Landscape of Global Aluminum-nickel Catalyst Market
The global aluminum-nickel catalyst market has been expanding significantly since the last few years. Demand for aluminum-nickel catalyst has been rising across the globe due to the growth in industrialization. Major players dominating the aluminum-nickel catalyst market. Some of the key players operating in the aluminum-nickel catalyst market are:
- Alfa Aesar
- Evonik Industries
- Johnson Matthey
- W. R. Grace & Co.
- Vineeth Chemicals
- Sigma Aldrich
Global Aluminum-nickel Catalyst Market: Research Scope
Global Aluminum-nickel Catalyst Market, by Product Type
Global Aluminum-nickel Catalyst Market, by End-use Industry
- Refining Industry
- Chemical Industry
Global Aluminum-nickel Catalyst Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Aluminum-nickel Catalyst Market Introduction
- Aluminum-nickel catalyst is an alloy of aluminum and nickel available in powder form. It is a high performance catalyst and is widely used in hydrogenation reactions and many reductive reactions.
- Aluminum-nickel catalyst can be used in hydrogenation reaction with any type of functional groups. Hence, it is used in the production of intermediates in pesticides, rubber industry, and dye industry. Aluminum-nickel catalyst is also used in the petroleum industry in refining crude oil to produce gasoline and diesel.