RUTHENIUM CATALYST MARKET ANALYSIS

Regional Analysis

Asia Pacific ruthenium catalyst market is expected to exhibit high growth in the global market. This is owing to applications of ruthenium catalyst in olefin metathesis in various industries including chemical and pharmaceutical industry. According to the European Chemical Industry Council (CEFIC), sales of chemicals in China increased form US$ 1,532.25 billion in 2015 to US$ 1,593.3 billion in 2016. Growing chemical industry is driving growth of this market as ruthenium catalyst is used in synthesis of different organic compounds such as polydicyclopentadiene (pDCPD). Furthermore, ruthenium catalysts are used in the petrochemical industry for removing hydrogen sulfide from gaseous streams in the refining process. Growth in the petrochemical industry is contributing to growth of the ruthenium catalyst market in Asia Pacific. According to Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers, Government of India, production of petrochemicals in India was around 31.16 million metric tons in 2012–2013, which increased to 36.42 million metric tons in 2016–2017.