Metal-based catalysts are essential in a variety of applications, primarily in chemicals and automotive industries. Their remarkable properties include high catalytic activity and selectivity, enabling them to facilitate chemical reactions efficiently. They are utilized in the production of chemicals, pharmaceuticals, and fuels. In the automotive sector, catalysts such as platinum and palladium help reduce emissions by converting harmful pollutants into less harmful substances. These catalysts play a vital role in environmental protection and in the manufacturing of everyday products, demonstrating their significance in modern industry and sustainability efforts.
According to Data Bridge Market Research, the Global Metal Based Catalysts Market is accounted at USD 15.13 billion in 2021 and is expected to reach USD 23.71 billion by 2029. The market is expected to grow with a CAGR of 5.78% in the forecast period of 2022 to 2029.
“Increased demand for platinum boosts the market’s growth”
The metal-based catalysts market experiences growth due to the increased demand for platinum. Platinum is a vital catalyst in various industries, including automotive and chemical, where it facilitates essential reactions. In the automotive sector, platinum-based catalysts are crucial for reducing emissions and meeting stringent environmental regulations. Additionally, platinum's effectiveness in chemical processes drives its demand.
What restraints the growth of the global metal based catalysts market?
“Increasing demand for electric vehicles (EVs) restraints the market’s growth”
The increasing demand for electric vehicles (EVs) presents a constraint for the metal-based catalysts market. Traditional internal combustion engines, reliant on catalysts, are gradually being replaced by EVs that don't require catalytic converters. As the automotive industry shifts towards electrification to reduce emissions, the demand for catalysts, including platinum and palladium, is expected to decline. This transition impacts the market, prompting a reassessment of the catalyst industry's future role, potentially leading to slower growth as it adapts to the changing automotive landscape.
Segmentation: Global Metal Based Catalysts Market
The global metal based catalysts market is segmented on the basis of metal type and end-users.
- On the basis of metal type, the metal based catalysts market is segmented into platinum, palladium, rhodium, ruthenium, iridium, gold, and others.
- On the basis end-users, the metal based catalysts market is segmented into automobile, pharmaceutical, refinery, and others.
Regional Insights: Asia-Pacific dominates the Global Metal Based Catalysts Market
Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029 due to rising living standards, population growth, and increased per capita income. As people's economic well-being improves and populations expand, there's greater consumer spending capacity and demand for various products and services, fostering market expansion and economic development in the region.
North America is estimated to show lucrative growth over the forecast period of 2022-2029, due to rising investments and the presence of numerous manufacturers. Increased investments in infrastructure, technology, and industry contribute to economic development and expand the market. The concentration of manufacturers fosters competition, innovation, and production efficiency, further propelling market expansion.
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The Prominent Key Players Operating in the Global Metal based catalysts Market Include:
- BASF SE (Germany)
- Evonik Industries AG (Germany)
- Johnson Matthey (U.K.)
- Heraeus Holding (U.K.),
- Clariant (Switzerland)
- Umicore SA (Belgium)
- Alfa Aesar (U.S.), Souvenier Chemicals (India)
- Vineeth Precious Catalysts Pvt. Ltd. (India)
- Kaili Catalyst New Materials CO., LTD. (China)
- Chimet (U.S.)
- Sabin Metal Corporation (U.S.)
- American Elements (U.S.)
- Remettal Deutschland AG (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of global metal based catalysts market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Metal Based Catalysts Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
