The various catalysts are increasingly being used to reduce the processing time of crude oil refining while also improving the efficiency of refining equipment. Over the last few years, the market has been driven by favorable environmental regulations regarding the non-harmful effects of catalysts in various industries. The European Catalyst Manufacturers Association (ECMA) advocates for the use of catalysts in various industries to reduce emissions and pollution. Furthermore, the introduction of biocatalysts is anticipated to open up new growth prospectus for the market during the forecast period.
