Fuel Borne Catalyst

Fuel Borne Catalyst Market Outlook

The global Fuel Borne Catalyst market is experiencing significant growth, with a projected market size reaching USD 2.4 billion by 2035, expanding at a CAGR of 5.7% during the forecast period from 2025 to 2035. This upward trend is driven by the increasing demand for more efficient fuel systems aimed at reducing emissions and improving engine performance. The growing automotive industry, alongside stringent regulations on emissions, is propelling the need for fuel borne catalysts, particularly in transportation and industrial applications. Additionally, the rising emphasis on sustainable and eco-friendly technologies is pushing manufacturers to innovate and improve catalyst efficiency, thus playing a crucial role in the market's expansion. As countries worldwide move toward greener policies and sustainable practices, the fuel borne catalyst market stands to benefit significantly.

Growth Factor of the Market

One of the primary growth factors influencing the Fuel Borne Catalyst market is the increasing focus on reducing carbon emissions in compliance with global environmental standards. Governments around the world are implementing stringent regulations aimed at minimizing air pollution, leading to a significant rise in the adoption of fuel borne catalysts across various industries. Furthermore, advancements in catalyst technologies are paving the way for more effective solutions, enhancing their application in various sectors. The automotive sector, in particular, is leveraging these advancements to manufacture vehicles that not only meet but exceed environmental regulations. Another key driver is the rising demand for improved fuel efficiency, as manufacturers seek ways to optimize engine performance while minimizing fuel consumption. This trend is further bolstered by the rapid urbanization and the surge in global vehicle production, creating a robust market for fuel borne catalysts.

Key Highlights of the Market

• Projected global market size of USD 2.4 billion by 2035 with a CAGR of 5.7%.
• Increasing regulatory pressure for reduced emissions boosting market demand.
• Advancements in catalyst technology leading to enhanced performance and efficiency.
• Growing automotive production contributing significantly to market growth.
• Shift towards sustainable and eco-friendly technologies fostering innovation in catalysts.

By Product Type

Organometallic Compounds:

Organometallic compounds are gaining traction in the Fuel Borne Catalyst market due to their unique properties that enhance combustion and reduce harmful emissions. These compounds typically consist of carbon-metal bonds and are known for their catalytic properties in various chemical reactions. Their usage in fuel systems improves the efficiency of combustion processes, thereby optimizing fuel consumption. Additionally, these compounds can be tailored to meet specific requirements, making them a versatile choice for manufacturers. The rising automotive sector, along with stringent emission regulations, is promoting the adoption of organometallic compounds, driving their market growth significantly.

Cerium Oxide:

Cerium oxide is another prominent product type within the Fuel Borne Catalyst market, recognized for its exceptional oxygen storage capacity and catalytic activity. Utilized primarily in diesel engines, cerium oxide plays a crucial role in reducing nitrogen oxide (NOx) emissions, thus adhering to environmental regulations. Its ability to act as an effective catalyst under high-temperature conditions makes it an essential component in modern fuel formulations. As industries move towards cleaner technologies, the demand for cerium oxide as a fuel borne catalyst is expected to rise significantly, bolstered by its effectiveness in enhancing engine performance while minimizing pollutants.

Iron Nanoparticles:

Iron nanoparticles are emerging as a promising segment in the Fuel Borne Catalyst market, primarily due to their cost-effectiveness and efficient catalytic properties. These nanoparticles facilitate various reactions, including the reduction of nitrogen oxides, ultimately contributing to lower emissions from combustion engines. Their small size allows for a large surface area, enhancing their reactivity and efficiency in catalyzing reactions. The growing focus on eco-friendly solutions is driving the interest in iron nanoparticles, especially in applications where cost is a significant consideration, making them a suitable alternative to more expensive materials like platinum and palladium.

Manganese Compounds:

Manganese compounds are also notable in the Fuel Borne Catalyst market, as they exhibit excellent catalytic properties at high temperatures. These compounds are particularly effective in reducing harmful emissions such as carbon monoxide and unburned hydrocarbons from diesel engines. The increasing regulatory pressure on emissions control and the need for cleaner fuels are propelling the demand for manganese-based catalysts. Their stability and effectiveness in a variety of operating conditions make them an attractive option for manufacturers looking to improve fuel efficiency and meet environmental standards.

Others:

This category encompasses a variety of alternative catalysts that have emerged in the market, which do not fit into the conventional classifications. These may include newer materials and composite catalysts designed to enhance performance and reduce emissions. The innovation in catalysts is largely driven by the necessity for more effective solutions to meet stringent regulations, leading to the development of novel compounds and materials. As research continues to advance in this field, the 'Others' segment is expected to witness growth, reflecting the increasing diversity of fuel borne catalysts available in the market.

By Application

Transportation:

The transportation sector stands as the largest application segment for fuel borne catalysts, primarily driven by the automotive industry's relentless push towards cleaner and more efficient fuel systems. With stringent government regulations aimed at reducing vehicular emissions, manufacturers are increasingly incorporating fuel borne catalysts into their designs. The implementation of these catalysts significantly enhances engine performance while contributing to a reduction in harmful emissions, thereby complying with environmental standards. The growing demand for electric vehicles and hybrid models is also influencing the development of advanced catalysts that cater to changing fuel types and technologies.

Industrial:

In the industrial application segment, fuel borne catalysts are employed in various processes, including in power generation and manufacturing sectors. These catalysts play a crucial role in enhancing the efficiency of fuel combustion, thus improving overall operational performance. As industries are urged to adopt more sustainable practices, the demand for fuel borne catalysts in industrial applications is expected to rise. The focus on minimizing emissions and maximizing fuel usage efficiency will drive innovation and lead to the development of tailored catalyst solutions designed specifically for industrial needs, facilitating compliance with environmental regulations.

Marine:

The marine sector is gradually recognizing the importance of fuel borne catalysts as a means of reducing emissions from ships and other vessels. With international regulations such as the International Maritime Organization's (IMO) MARPOL convention, which mandates lower sulfur emissions, the market for fuel borne catalysts is poised for growth. These catalysts assist in the efficient combustion of marine fuels, significantly lowering the emission of harmful pollutants. As the shipping industry is under pressure to comply with stricter environmental standards, the demand for effective fuel borne catalysts tailored for marine applications is expected to increase, driving technological advancements in this space.

Power Generation:

In the power generation sector, fuel borne catalysts are utilized to enhance the efficiency of combustion processes in various types of power plants. The adoption of these catalysts helps in reducing emissions of nitrogen oxides and other pollutants, aligning with global efforts to transition towards cleaner energy production methods. With the rising demand for renewable energy and the strict implementation of environmental regulations, the fuel borne catalyst market within the power generation application is anticipated to grow. This sector is also adapting to new technologies that improve catalyst effectiveness, ensuring compliance with emissions standards while optimizing fuel performance.

Others:

The 'Others' application segment encompasses various niche areas where fuel borne catalysts are utilized, such as in chemical production and specialty applications. These areas may not see the same scale as transportation or industrial applications but are crucial for specific processes where enhanced combustion and reduced emissions are required. As industries continue to seek innovative solutions to meet environmental targets, the 'Others' segment is likely to witness growth in demand for specialized catalysts tailored to meet unique operational requirements. This growth will be driven by ongoing research and development efforts aimed at expanding the applications of fuel borne catalysts.

By Distribution Channel

Direct Sales:

Direct sales channels remain a significant method for distributing fuel borne catalysts, particularly for large manufacturers seeking to establish strong relationships with their client base. This approach allows for personalized service, better understanding of customer needs, and tailored solutions which can enhance customer satisfaction. Moreover, direct sales can lead to improved margins as intermediaries are eliminated. As the market matures, manufacturers are increasingly adopting this strategy to enhance their competitive edge by providing comprehensive support and service alongside their products.

Distributors:

Distributors play a pivotal role in the Fuel Borne Catalyst market by bridging the gap between manufacturers and end-users. They facilitate the distribution process, ensuring that products reach a wider audience efficiently. The use of distributors allows manufacturers to expand their market reach without having to invest heavily in building their distribution networks. Furthermore, distributors often have established relationships with various industries, which can expedite the adoption of fuel borne catalysts across different applications. This segment is essential for maintaining the supply chain and ensuring product availability across regional markets.

Retailers:

Retailers are increasingly becoming important players in the Fuel Borne Catalyst market, particularly in reaching smaller end-users and niche markets. They provide an accessible platform for customers looking to purchase fuel borne catalysts for specific applications. Retail outlets allow for direct interaction with consumers, which can lead to better customer service and tailored recommendations based on user needs. The growth of e-commerce has further enhanced this distribution channel, making it easier for retailers to reach consumers nationwide and expand their market presence.

Online Retail:

Online retail has emerged as a rapidly growing distribution channel in the Fuel Borne Catalyst market, driven by the convenience and accessibility it offers. Online platforms enable consumers and businesses to easily compare products and prices, facilitating informed purchasing decisions. As more companies and individual users turn to online shopping, the demand for fuel borne catalysts through digital channels is expected to rise. This shift is not only beneficial for consumers seeking flexibility but also for manufacturers looking to tap into new markets with reduced overhead costs associated with traditional retail structures.

By Ingredient Type

Platinum:

Platinum is a critical ingredient in the formulation of many fuel borne catalysts, prized for its exceptional catalytic properties and effectiveness in reducing vehicle emissions. This precious metal is widely recognized for its ability to facilitate various chemical reactions, particularly in automotive applications, where it significantly lowers harmful emissions from combustion engines. Due to its high cost, platinum is often used in combination with other materials to create more cost-effective catalyst solutions while maintaining high performance. The demand for platinum-based catalysts is expected to grow as regulatory pressure for cleaner fuel systems continues to intensify, particularly in the automotive sector.

Palladium:

Palladium is another important ingredient in the Fuel Borne Catalyst market, serving as a robust alternative to platinum. It is particularly favored in gasoline engine applications due to its efficiency in oxidizing carbon monoxide and hydrocarbons into less harmful emissions. The increasing adoption of palladium in catalytic converters is driving its market growth, especially in regions with stringent emissions regulations. As manufacturers seek to balance performance with cost, palladium’s favorable properties make it a popular choice among fuel borne catalyst formulations, ensuring compliance with environmental standards while optimizing engine performance.

Rhodium:

Rhodium is an essential ingredient in the Fuel Borne Catalyst market, particularly known for its effectiveness in reducing nitrogen oxides in vehicle emissions. Its unique catalytic properties make it a vital component in three-way catalytic converters, which are crucial for modern internal combustion engines. Although rhodium is one of the rarest and most expensive precious metals, its unmatched performance in catalytic applications justifies its cost. As the automotive industry continues to innovate and implement stricter emission control technologies, the demand for rhodium in fuel borne catalysts is expected to rise, impacting the overall market dynamics.

Cerium:

Cerium is increasingly recognized as a valuable ingredient in the Fuel Borne Catalyst market, particularly due to its ability to assist in the oxidation of pollutants and enhance the efficiency of combustion processes. Cerium oxide, in particular, is widely used for its oxygen storage capability, which plays a significant role in reducing harmful emissions from diesel engines. As industries adopt cleaner technologies and seek to conform to environmental regulations, the inclusion of cerium in catalyst formulations is anticipated to grow. Its effectiveness in enhancing engine performance while minimizing emissions positions cerium as a key ingredient in the evolving landscape of fuel borne catalysts.

Others:

The 'Others' ingredient type category includes various alternative materials utilized in the formulation of fuel borne catalysts, such as transition metals and metal oxides that may not fall under the conventional classifications. These ingredients are often being developed to explore new catalytic properties and enhance the overall effectiveness of fuel borne catalysts. As research into catalyst innovation advances, the diversity of ingredients used will likely expand, creating new opportunities for manufacturers to develop more effective solutions that meet exacting environmental standards. This segment reflects the ongoing evolution of catalyst formulations as industries strive to adopt more sustainable practices.

By Region

The Fuel Borne Catalyst market is witnessing varying levels of growth across different regions, influenced by local regulations, industry dynamics, and technological advancements. North America is currently a significant market for fuel borne catalysts, driven mainly by stringent emissions regulations and a robust automotive sector. The region is expected to grow at a CAGR of 5.4% from 2025 to 2035, reflecting the ongoing efforts by manufacturers to enhance engine performance while complying with environmental standards. Additionally, the increasing focus on sustainability is leading to greater adoption of advanced catalyst technologies across the region.

In Europe, the market is equally poised for growth, supported by rigorous emission standards and a strong regulatory framework aimed at reducing air pollution. The European Union's commitment to sustainability and climate action is fostering innovation in fuel borne catalyst technologies, creating significant demand in both the transportation and industrial sectors. The Asia Pacific region is also emerging as a lucrative market for fuel borne catalysts, driven by rapid industrialization and an increasing number of vehicles on the road. As countries in this region implement stricter emissions regulations, the demand for effective fuel borne catalysts is expected to rise, further contributing to the global market landscape.

Opportunities

The Fuel Borne Catalyst market presents a multitude of opportunities for growth, particularly as global industries shift towards more sustainable practices. The increasing regulatory pressure to reduce emissions across various sectors is driving manufacturers to seek innovative catalyst solutions, creating an environment ripe for development and investment. As research and technological advancements continue to improve catalyst efficiency and effectiveness, new applications and markets are expected to emerge. The growing automotive sector, especially with the rise of electric and hybrid vehicles, also opens avenues for the development of specialized catalysts designed to cater to evolving fuel technologies. Furthermore, expanding markets in developing regions provide significant investment opportunities as countries modernize their infrastructure and adopt cleaner technologies.

Moreover, partnerships and collaborations between catalyst manufacturers and automotive companies can lead to the development of tailored solutions that meet specific performance and regulatory requirements. As the market matures, there is potential for the emergence of novel catalysts that utilize alternative materials, reducing reliance on precious metals and driving down costs. The increasing focus on research and development, coupled with a heightened awareness of environmental issues, positions the Fuel Borne Catalyst market favorably for future growth, as stakeholders work collectively to advance cleaner technologies.

Threats

Despite its promising growth, the Fuel Borne Catalyst market faces several threats that could impact its trajectory. One of the primary challenges is the volatility of raw material prices, particularly for precious metals used in catalyst formulations such as platinum, palladium, and rhodium. Fluctuations in these prices can significantly affect production costs and, in turn, the pricing of end products, making it difficult for manufacturers to maintain profitability. Additionally, the increasing research into alternative technologies that could potentially replace traditional fuel borne catalysts poses a long-term threat to the market. As industries explore new materials and methods to enhance fuel efficiency and reduce emissions, established players may face competition from emerging technologies that promise lower costs and improved performance.

Another significant threat comes from the growing trend of electric vehicles (EVs), which may reduce the demand for fuel borne catalysts in the automotive sector. As EV adoption increases, the need for traditional combustion engine catalysts could diminish, creating uncertainty for manufacturers reliant on this segment. Regulatory changes or the introduction of more stringent standards could also present challenges, as companies may struggle to keep pace with evolving requirements. The combination of these factors underscores the importance for stakeholders in the Fuel Borne Catalyst market to remain adaptable and responsive to the changing landscape, ensuring they can navigate potential hurdles effectively.

Competitor Outlook

• BASF SE
• Johnson Matthey PLC
• Haldor Topsoe A/S
• Clariant AG
• Albemarle Corporation
• Argus Limited
• Honeywell UOP
• Umicore SA
• W. R. Grace & Co.
• ExxonMobil Chemical Company
• Chevron Phillips Chemical Company
• Royal Dutch Shell plc
• Stepan Company
• Eastman Chemical Company
• Mitsubishi Gas Chemical Company

The competitive landscape of the Fuel Borne Catalyst market is characterized by a mix of established players and emerging companies striving for market share. Key manufacturers like BASF SE and Johnson Matthey PLC are at the forefront, leveraging their extensive research and development capabilities to innovate and enhance catalyst performance. These companies have established strong relationships with automotive and industrial manufacturers, providing tailored solutions that meet specific regulatory requirements. Their continued investment in technology and sustainable practices positions them as leaders in the market, capable of adapting to changing consumer demands and regulatory pressures.

Haldor Topsoe A/S and Clariant AG are also notable competitors, focusing on developing advanced catalysts that improve fuel efficiency and reduce emissions. These companies are actively engaged in expanding their product portfolios to meet the diverse needs of different applications, including transportation and industrial sectors. Their commitment to sustainability and innovation has allowed them to remain competitive in a rapidly evolving market. Additionally, emerging organizations are gaining traction by introducing novel materials and solutions, challenging established players and pushing the market towards greater efficiency and effectiveness.

Moreover, strategic partnerships and collaborations are becoming increasingly common as companies seek to leverage each other's strengths and capabilities. For instance, collaborations between catalyst manufacturers and automotive companies can result in the development of specialized solutions that enhance vehicle performance and comply with stringent emissions standards. This trend not only facilitates innovation but also fosters a more dynamic competitive environment. As the Fuel Borne Catalyst market continues to evolve, ongoing advancements in technology and shifts in consumer preferences will shape the competitive landscape, presenting both challenges and opportunities for existing and new players alike.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 BASF SE
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Umicore SA
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Clariant AG
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Argus Limited
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Honeywell UOP
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Stepan Company
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Haldor Topsoe A/S
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 W. R. Grace & Co.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Johnson Matthey PLC
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Albemarle Corporation
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Royal Dutch Shell plc
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Eastman Chemical Company
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 ExxonMobil Chemical Company
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Mitsubishi Gas Chemical Company
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Chevron Phillips Chemical Company
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Fuel Borne Catalyst Market, By Application
    • 6.1.1 Transportation
    • 6.1.2 Industrial
    • 6.1.3 Marine
    • 6.1.4 Power Generation
    • 6.1.5 Others
  • 6.2 Fuel Borne Catalyst Market, By Product Type
    • 6.2.1 Organometallic Compounds
    • 6.2.2 Cerium Oxide
    • 6.2.3 Iron Nanoparticles
    • 6.2.4 Manganese Compounds
    • 6.2.5 Others
  • 6.3 Fuel Borne Catalyst Market, By Ingredient Type
    • 6.3.1 Platinum
    • 6.3.2 Palladium
    • 6.3.3 Rhodium
    • 6.3.4 Cerium
    • 6.3.5 Others
  • 6.4 Fuel Borne Catalyst Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Distributors
    • 6.4.3 Retailers
    • 6.4.4 Online Retail

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Fuel Borne Catalyst Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Fuel Borne Catalyst market is categorized based on

By Product Type

• Organometallic Compounds
• Cerium Oxide
• Iron Nanoparticles
• Manganese Compounds
• Others

By Application

• Transportation
• Industrial
• Marine
• Power Generation
• Others

By Distribution Channel

• Direct Sales
• Distributors
• Retailers
• Online Retail

By Ingredient Type

• Platinum
• Palladium
• Rhodium
• Cerium
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• BASF SE
• Johnson Matthey PLC
• Haldor Topsoe A/S
• Clariant AG
• Albemarle Corporation
• Argus Limited
• Honeywell UOP
• Umicore SA
• W. R. Grace & Co.
• ExxonMobil Chemical Company
• Chevron Phillips Chemical Company
• Royal Dutch Shell plc
• Stepan Company
• Eastman Chemical Company
• Mitsubishi Gas Chemical Company