[FURL=https://www.industryarc.com/Report/18894/gcc-catalysts-for-polymer-production-market?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]GCC Catalyst for Polymer Production Market[/FURL] size is forecast to reach US$1.5 billion by 2026, after growing at a CAGR of 3.5% during 2021-2026. Globally, various catalysts are used in the polymer industry, and new catalysts are created every year. Even in the same reactor, different catalysts are utilized to make polymers with different characteristics. Polymer catalysts are increasingly being utilized in a variety of organic synthesis reactions. Owing to their insolubility, the rising usage of cross-linked polymers frequently as polymer support materials is driving the growth of the industry.Key Takeaways
Saudi Arabia region dominated the GCC catalysts for polymer production market owing to the rising production of polymers in the country.
The growing demand for ziegler-natta, chromium, metallocene, and other catalysts in GCC for the production of polymers such as polyethylene, polypropylene, polyvinyl chloride, and polyurethane, is anticipated to raise the growth of the market.
Moreover, infrastructure improvements and modernization of local refining, petrochemical/chemical, polymer, and environmental catalyst applications is further anticipated to drive the growth of the GCC catalysts for polymer production market.
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GCC Catalysts for Polymer Production Market Segment Analysis – By Country
Saudi Arabia region dominated the GCC catalysts for polymer production market with a share of 45% in 2020 and is projected to dominate the market during the forecast period (2021-2026). In GCC, Saudi Arabia is the leading producer of plastics. Globally, low crude oil prices highlighted the need for a stronger non-oil sector. Saudi Arabia has been undertaking many initiatives and regulatory reforms, such as the National Industrial Development and Logistics Program (NIDLP), Vision 2030, and others, to develop the country's non-oil economy, which is intended to boost regional industrial production. Furthermore, the robust growth in non-oil sector revenues, as well as a significant recovery in the Saudi Arabian economy as a result of rising crude oil prices, is predicted to boost the country's packaging business.
GCC Catalysts for Polymer Production Market Driver
Rising Demand for Polymers in Medical Applications
GCC Catalysts for Polymer Production Market Landscape
Major players in the GCC catalysts for polymer production market are Abu Dhabi Polymers, Al-Bilad Catalyst Company Limited, W.R. Grace & Co., Mitsui Chemicals Inc., Univation Technologies LLC, Lyondellbasell Industries Holdings BV, PQ Corporation, Toho Titanium Co. Ltd., SABIC, and among others.
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