Amine Catalyst Market - Regional Analysis
APAC Market Insights
Asia Pacific industry is set to dominate majority revenue share by 2035, attributed to increasing need for transportation activities in the countries, especially in India, Japan, China, and others, along with presence of major automobile manufacturers in the region. The growth of the market can be attributed majorly to the increasing need for transportation activities in the countries, especially in India, Japan, China, and others, along with the growing sale of automobiles owing to a rise in disposable income, the higher surge in the sale of vehicles, along with the presence of major automobile manufacturers in the region. For instance, over 3.50 million units of passenger and commercial vehicles were sold in India in 2020. Further, the major boom in the chemical industry is also estimated to potentially accelerate the amine catalyst market in the region as acetylene is highly used in various end-user industries. In addition to this, the region's expanding construction industry and rising real estate investment are also anticipated to boost market growth in the APAC region during the forecast period.
North American Market Insights
The North American acetylene market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market can be attributed majorly to the proliferating manufacturing of aircraft, and automobiles. Based on a report, the general aviation aircraft fleet in the United States is projected to increase from 205,670 in 2021 to 210,898 by 2041. Moreover, the growing sale of vehicles in the U.S. and Canada, along with the surge in the welding, and metal fabrication industries are further estimated to raise the acetylene market growth in the region during the projected time frame.
