Global Industrial Catalyst
Market Report
2024
industrial catalyst market was valued at USD 23.52 billion in 2022 and will expand to USD 32.43 billion by 2030, registering a CAGR of 4.1% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global industrial catalyst market was valued at USD 23.52 billion in 2022 and will expand to USD 32.43 billion by 2030, registering a CAGR of 4.1% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Industrial Catalyst Market Sales Revenue 2030 | $ 29.43 Billion |
Global Industrial Catalyst Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.21% |
Market Split by Type |
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Market Split by Application |
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Market Split by Material |
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Market Split by End Use |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Industrial Catalyst Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Industrial catalysts are substances used in the industrial chemical reaction process to make it quicker, more efficient, and easier. All industries need to make production at a faster rate and accelerate chemical reactions. Catalysts are widely used in the production of chemicals, fuel, and other industrial processes to lower the activation energy required for the reaction to occur. Some examples of industrial catalysts are platinum, palladium, nickel, and various metal oxides.
The rising growth of the refinery sector expands the industrial catalyst market. As the demand for refined products such as diesel, jet fuel, and gasoline continue to rise, refineries need to optimize their production process. For instance, In India, refineries processed 241704 metric tonnes of crude oil in 2021 and 255233 metric tonnes of crude oil in 2022, an increase of 6%. Industrial catalyst helps to convert crude oil into refinery products more efficiently by reducing energy consumption and operational cost. Expanding refinery capacities and the growing petrochemical industry further boost the demand for industrial catalysts. Overall, the refinery sector expansion fuels the growth of industrial catalysts for improved productivity and efficiency.
Increasing research and development activities and expenditure for the catalyst further drive the growth of the market. Increased R&D efforts lead to the development of innovative technologies and products and also help to enhance the productivity and efficiency of industrial catalysts. For instance, the U.S. Department of Energy introduced the catalyst cost model development to enable rapid and informed cost-based decisions in the research and commercialization of catalysts. Similarly, National Renewable Energy Library developed a catalyst cost estimation tool to improve research efficiency
Furthermore, increasing R&D expenses of oil and refinery sector expand the market for the catalyst as catalyst play an important role in the refinery sector. For instance, Indian major players in petroleum refinery including Hindustan Petroleum, Indian oil corporation, and Bharat Petroleum invested USD 62 million in R&D activities of petroleum and refinery in the year 2017-2018.
The higher production cost due to complex manufacturing processes, higher raw material prices, R&D expenses, and limited availability of catalysts can hinder market growth. It can adversely affect the demand, end product cost, and technology adoption. High production costs can lead to expensive catalysts, making them less affordable for smaller industries, and limiting the expansion of the market. Moreover, the high cost of developing and producing catalysts can create entry barriers for new players and innovation in the market.
The pandemic significantly impacted various industries, including the industrial catalyst market. The pandemic led to disruption in global supply chains, reduced industrial activities, and hindered investment in certain sectors. These factors collectively affected the demand for industrial catalysts, which are crucial components in various chemical processes. The lockdown measures and restrictions during the pandemic causes a slowdown in manufacturing activities, leading to reduced demand for catalysts in some industries.
As economies recovered and restrictions were released, the industrial catalyst market rebounded demand also recovered. The construction industry is anticipated to see growth as consumer industries resume. Research and development efforts to develop catalysts for antiviral coatings and pharmaceutical manufacturing increased.
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Evonik Catalyst expanded its portfolio through the integration of its alkoxides business into a catalyst business line.
Evonik integrated its alkoxides business into the Catalysts Business Line. The extensive portfolio of heterogeneous catalysts is complemented by homogeneous catalysts. An international network of production sites and the highly experienced alkoxides team strengthened the Catalysts Business Line, one of Evonik's growth areas, from January 2023.
BASF launched Tri-Metal Catalyst, developed in collaboration with and sponsored by Sibanye-Stillwater and Impala Platinum.
BASF introduced tri-metal catalyst technology that enables partial substitution of high-priced palladium with lower-priced platinum in light-duty gasoline vehicles without compromising emissions standards. Adoption of the Tri-Metal Catalyst help to reduce catalytic converter costs for automakers and partially rebalance market demand for PGMs, thereby enhancing PGM market sustainability.
Top Companies Market Share in Industrial Catalyst Industry: (In no particular order of Rank)
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Global Industrial Catalyst Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Industrial Catalyst Industry growth. Industrial Catalyst market has been segmented with the help of its Type, Application Material, and others. Industrial Catalyst market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The heterogeneous segment is expected to lead the industrial catalyst market during the forecast period.
By type, the market is segmented into homogenous and heterogenous. A heterogeneous catalyst is a chemical catalyst whose physical phase is different from the physical phase of the products that take part in the catalyzed chemical reaction. Heterogeneous catalysts offer several advantages over the homogenous catalyst, it is cheap and simple as compared to homogenous catalysts. Additionally, it offers good thermal stability. The heterogeneous catalyst can also be utilized repeatedly. Heterogeneous catalytic chemical processes are thus more continuous and attractive from an economic point. Furthermore, compared to their homogeneous counterparts, heterogeneous catalysts are frequently more durable under difficult operating circumstances. Due to all these benefits heterogenous catalysts are preferable over homogenous ones, driving the heterogenous segment in the industrial catalyst market.
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Petroleum Refining application is expected to continue its dominance during the forecast period.
By application, the market is bifurcated into chemical synthesis, petroleum refining, fluid catalytic cracking, emission control, reforming, isomerization, and others. Petroleum refining is expected to dominate the market. As the demand for refined products such as diesel, jet fuel, and gasoline continue to rise, the petroleum refinery application segment is growing. Industrial catalyst helps to convert crude oil into refinery products more efficiently by reducing energy consumption and operational cost.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Industrial Catalyst market report 2024 Edition by contacting our team.
The organometallic material segment is projected to be the fastest-growing segment of industrial catalysts between 2023 and 2030.
By material, the market is segmented into chemical, zeolite, metal, organometallic materials, and others. The organometallic segment is the fastest growing segment attributed to unique catalytic properties that make them highly effective in various industrial processes. These compounds typically consist of metal atoms bonded to carbon-containing ligands, giving them versatile reactivity and stability.
Asia Pacific is expected to grow at a speedy rate during the forecast period.
Asia Pacific dominated the market for industrial catalysts in 2022 and is expected to continue its dominance over the forecast period. High economic growth in developing countries, rising income, and population growth drive the growth of the consumer industries of industrial catalysts. Moreover, increasing refinery capacities and increasing demand for fuel further expand the market for industrial catalysts in the Asia Pacific region. Additionally, the Asia-Pacific region is known for its robust manufacturing capabilities. Hence, regions have large manufacturing units of catalysts and raw materials. Overall, a large consumer base, and favorable economic conditions, have propelled the Asia Pacific region to dominate the industrial catalyst market.
The current report Scope analyzes Industrial Catalyst Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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The Global Industrial Catalyst Market is witnessing significant growth in the near future.
In 2023, the Homogenous segment accounted for noticeable share of global Industrial Catalyst Market and is projected to experience significant growth in the near future.
The Chemical Synthesis segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Clariant AG, Umicore and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Type | Homogenous, Heterogenous |
Application | Chemical Synthesis, Petroleum Refining, Fluid Catalytic Cracking, Emission Control, Reforming, Isomerization, Others |
Material | Chemical, Zeolite, Metal, Organometallic Materials, Others |
End Use | Agriculture, Pharmaceutical, Chemical, Oil & Gas, Plastic & Polymer, Automotive, Others |
List of Competitors | Clariant AG, CRI Catalyst Company, Umicore, Albemarle Corporation, BASF SE, AkzoNobel N.V., DOW Chemicals Company, Arkema Sa, Honeywell, Evonik Industries Ag, Exxon Mobil Chemical Corporation, Du Pont, Ranido |
This chapter will help you gain GLOBAL Market Analysis of Industrial Catalyst. Further deep in this chapter, you will be able to review Global Industrial Catalyst Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Industrial Catalyst Market Trends North America Industrial Catalyst Technological Road Map North America Industrial Catalyst Market Drivers North America Industrial Catalyst Market Restraints North America Industrial Catalyst Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Material Analysis 2019 -2031
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Chapter 13 Market Split by End Use Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Industrial Catalyst market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Homogenous have a significant impact on Industrial Catalyst market? |
What are the key factors affecting the Homogenous and Heterogenous of Industrial Catalyst Market? |
What is the CAGR/Growth Rate of Chemical Synthesis during the forecast period? |
By type, which segment accounted for largest share of the global Industrial Catalyst Market? |
Which region is expected to dominate the global Industrial Catalyst Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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