Why is catalysis important?
The value of catalysis, in both impact on quality of life and economic terms, cannot be under estimated. Catalysis underpins many industries; none more so than the chemical industry, as over 90% of chemicals produced rely, to some extent, on the use of a catalyst. The worldwide market for catalysts is large and is growing continually. Current estimates place the value of the catalyst market at >20 billion USD, which is remarkable as it has been estimated that for every 1USD spent on a catalyst it can generate up to 1000 USD worth of product. Four of the world’s most successful industrial sectors are petroleum, chemicals production, energy generation and food production, and all of these industries rely heavily on catalysis, with their worldwide GNP accounting for at least 10 trillion USD. The importance of catalysis is mirrored across many sectors and estimates suggest that catalysis contributes to >35% of the world’s GDP. Against this background, it is clear that catalysis is an impor
