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Ruthenium Catalyst Market

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The research report on ruthenium catalyst market categorizes the global market by end-use industry - Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2018-2026.
Ruthenium Catalyst Market - Global
Industry Insights, Trends, 2018-2026
Ruthenium containing catalysts can act as homogenous or heterogeneous catalyst in
organic reactions such as olefin metathesis. Few examples of commercially available
ruthenium catalysts includes benzeneruthenium (II) chloride dimer, ruthenium (III) iodide
hydrate, ruthenium (IV) oxide, triruthenium dodecacarbonyl, and chlorotris
(triphenylphosphine) ruthenium(II) acetate among others. It is used in different organic
reactions such as alkylation, arylation, allylation, cyclopropanation, hydroformylation,
cyclization, hydrogenation, hydrosilylation, isomerization, hydroxylation, oxidation, olefin
metathesis, tandem reactions, transfer hydrogenation, and water splitting. Ruthenium
catalysts is utilized in the production of biologically active compounds such as
Swainsonine, Castanospermine, and Epothilone C. It is used in the synthesis of
chemotherapeutic agents, smart materials, supramolecular assemblies, biopolymer,
specialty polymers, and agrochemicals.
Market Dynamics
Rise in applications of ruthenium catalyst in petrochemical, pharmaceutical, and
chemical industries is augmenting growth of the global ruthenium catalyst market.
According to the International Federation of Pharmaceutical Manufacturers &
Associations, global pharmaceutical industry is expected to reach US$ 1,430 billion by
2020. This growth in the pharmaceutical industry is driving growth of the global
ruthenium catalyst market, owing to applications of ruthenium catalyst in synthesis of
active pharmaceutical ingredients such as macrocyclic peptides. Growing demand for
chemicals is further propelling growth of the global ruthenium catalyst market, as it is
used in production of chemicals such as low temperature synthesis of ammonia and
acetic acid production. According to the European Chemical Industry Council (CEFIC),
a trade association for European chemical industry, global sales of chemicals was
values at US$ 4,015.62 billion in 2015, which increased to US$ 4,031.22 billion in 2016.
Demand for Grubbs catalyst, which consists of ruthenium catalyst, is increasing due to
its advantages such as efficiency, cost effectiveness, user friendly, and broad array of
applications such as bond breaking, formation, and rearrangement in chemical reaction.
Grubbs catalyst is used in olefin metathesis, which is used for synthesis of
pharmaceutically active ingredients, fine chemicals, and organic compounds such as
spirocyclic amine, azapane and neohexene. This, in turn is driving growth of the global
ruthenium catalyst market. Furthermore, development of new applications of ruthenium
catalyst such as its use in catalytic wet oxidation process for waste water treatment is
fuelling growth of the global ruthenium catalyst market.
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Market Outlook
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.
North America held significant market share in the global ruthenium catalyst market in
2017. Ruthenium catalysts such as Grubbs catalyst is used in pharmaceutical research
and development for synthesis of novel lead compounds, scaffolds, and pharmaceutical
active ingredients. Also, it is used in various organic reactions involved in R&D such as
oxidative dehydrogenation of alcohols, asymmetric epoxidation of alkenes, generation
of dioxygen species, and dihydroxylation of olefins. According to the Pharmaceutical
Research and Manufacturers Association (PhRMA), pharmaceutical research and
development expenditure in the U.S. was around US$ 47.05 billion in 2015. Also, firms
in the U.S. conduct more than half of the global pharmaceutical research and
development thereby, driving growth of the ruthenium catalyst market in this region.
Ruthenium catalyst market in Europe is expected to exhibit growth, owing to significant
demand from the chemical industry ion the region. Ruthenium is used as a catalyst in
the production of unsaturated alcohols, which is further utilized as final ingredient or
synthetic intermediate. It is also used for the catalysis of 1, 4-hydrogenation reactions of
dienes, asymmetric hydrogenation reactions, ring-closing metathesis (RCM),
cross-metathesis (CM), ring-opening metathesis polymerization (ROMP) and enyne
metathesis. According to the European Chemical Industry Council (CEFIC), chemical
industry in Europe Union ranks second with 15.1% market share in 2016. Furthermore,
Germany was the largest chemical producing country in Europe, in 2016 along with
third-largest sales of US$ 173.39 billion in 2016, in the world. Thus, broad array of
applications of ruthenium catalyst in the chemical industry is driving growth of this
market in Europe.
Key Players
Key players operating in the global ruthenium catalyst market are BASF S.E., Merck
KGaA, Johnson Matthey Catalog Company, Inc., KaiDa Technology Limited, Strem
Chemicals, Inc., Vineeth Precious Catalysts Pvt. Ltd., Heraeus Holding GMBH,
American Elements Corp., Apeiron Synthesis S.A., and Loba Chemie Pvt. Ltd.
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