Global Catalyst Market – Industry Trends and Forecast to 2029

Global Catalyst Market, By Material (Chemical Compounds, Metals, Zeolites, Others), Type (Heterogeneous Catalyst, Homogeneous Catalyst), Application (Chemical Synthesis, Petroleum Refining, Polymers and Petrochemicals, Environmental), Process (Recycling, Regeneration, Rejuvenation) – Industry Trends and Forecast to 2029.

 Catalyst Market Analysis and Size

The increasing demand for catalysts from several applications such as polymers, chemical synthesis, petroleum refining and petrochemicals, and environmental is boosting the demand for yield improvement, process optimization, energy-saving, and cost-saving amongst the manufacturers globally. The ‘heterogeneous catalyst” is the fastest growing type segment due to its several benefits such as simple separation of catalyst from products, economical usage, and ease of application during the forecast period.

Data Bridge Market Research analyses that the catalyst market was valued at USD 37.30 billion in 2021 and is expected to reach USD 54.69 billion by 2029, registering a CAGR of 4.90% during the forecast period of 2022 to 2029 In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Catalyst Market Scope and Segmentation

Market Definition

Catalyst is a substance that enables a chemical reaction to proceed at a high rate or under different conditions, such as s at a lower temperature. This generally increases the rate of reaction. For instance, nickel is used in the hydrogenation process and iron is used in the Haber process.

Global Catalyst Market Dynamics

Drivers

• High demand in the petrochemical industry

Increase the demand for catalysts from petrochemical industries due to the rapid growth of the petrochemical industry. The petrochemical industry has generated high demand for catalysts for manufacturing several gases and chemicals. A growth in the refineries is increasing the demand for high-performance catalysts, which is expected to drive the market growth during the forecast period.

• Increasing demand of catalyst in chemical industries

Catalysts are primarily used for chemical synthesis in the chemical industry. The catalyst is used in cracking feedstock components in the refining of petroleum to increase the yield of high-quality products. The application of a catalyst stimulates the optimization of hydrocracking reactions with energy-saving and cost-saving benefits. This factor has favored the growth of the catalyst market in petroleum refining applications. 

• Huge demand of platinum metal catalyst

In petroleum refining, platinum catalyst-based reforming procedures are increasingly used and build importance in refining. They significantly increase the octane rating of naphthas and it is more cost-effective than any other reforming technique for producing high-octane gasoline. Platinum catalyst is now a critical constituent in the manufacture of high-octane gasoline for piston-engine aircraft and automobiles. Moreover, catalytically reforming petroleum naphthas by using platinum catalyst produces toluene, benzene, and xylenes, which account for a significant growth in the catalyst market.

Opportunities

• Growing demand of palladium based emission control catalyst

Palladium is being extensively used as an oxidation catalyst in the gasoline auto catalysts (petrol-based engines) of diesel engines due to its ability to maintain suitable performance at sustained temperatures for a lifetime. The emission control catalysts comprising equivalent ratios of palladium and platinum are being launched to improve catalytic converters' quality and curb the growing emissions. The growing demand for palladium-based emission control catalysts coupled with its relatively low price is expected to increase the demand for palladium-based emission control catalysts and create immense opportunities for the targeted market growth during the forecast period.

Restraints/ Challenges

• Issues associated with catalyst market

Cost fluctuation of oil and gas are anticipated to affect the market for catalysts during forecast period. Furthermore, stringent rules and regulations regarding the environment are getting change day by day, which is probable to act as a restraining factor for the catalyst market.

Furthermore, one of the major challenges faced by the global catalyst market is the requirement for continuous research and development for product improvement. Market players continuously focus on developing improved catalysts and innovations to maximize the process yield. Thus, to sustain in the global competition is one of the major challenges which has faced by catalyst manufacturers.

This catalyst market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the catalyst market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Catalyst Market

The outbreak of covid-19 negatively affected the growth of the global catalyst market. Catalyst manufacturers mainly depend on the oil and gas industry, chemical manufacturing, production of  automobiles and many others which has been closed down during the covid-19 pandemic. Lockdowns imposed in a number of nations which had a negative influence on several industries. This pandemic has also affected the growth of the catalyst market. Problems have arisen as a result of transportation-related delays and limited production caused by travel restrictions. Major problems such as unavailability of workforce and closure of factories has affected the nations due to this pandemic has led to a main liquidity problem for the catalyst manufacturers.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Catalyst Market Scope

The catalyst market is segmented on the basis of material, type, application and process. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• Chemical Compounds
• Metals
• Zeolites
• Others

Type

• Heterogeneous Catalyst
• Homogeneous Catalyst

 Application

• Chemical Synthesis
• Petroleum Refining
• Polymers and Petrochemicals
• Environmental

Process

• Recycling
• Regeneration
• Rejuvenation

Catalyst Market Regional Analysis/Insights

The catalyst market is analysed and market size insights and trends are provided by country, material, type, application and process as referenced above.

The countries covered in the catalyst market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the catalyst market in terms of market share during the forecast period. This is due to the increasing demand for catalyst in this region. The Asia-Pacific region leads the catalyst market because this region is the demand centre of most of the petroleum fuels due to large number of vehicle population in this region.

During the projected period, North America is anticipated to be the fastest developing region due to the world's highest crude refining capacity.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Catalyst Market Share Analysis

The catalyst market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to catalyst market.

Some of the major players operating in the catalyst market are:

• Albemarle Corporation (U.S.)
• W R Grace (U.S.)
• BASF SE (Germany)
• Topsoe (Denmark)
• Honeywell International Inc (U.S.)
• Clariant (Switzerland)
• Axens (France)
• Johnson Matthey (U.K.)
• China Petrochemical Corporation (China)
• Shell Catalyst & Technologies (U.S.)
• Arkema (France)
• Anten Chemical Co., Ltd (China)
• Dorf-Ketal Chemicals Pvt. Ltd. (India)
• Exxon Mobil Corporation (U.S.)
• Gazprom Marketing & Trading Retail Ltd (Russia)
• JGC HOLDINGS CORPORATION (Japan)
• KNT Group (Russia)
• Kuwait Catalyst Company (Kuwait)
• N.E. CHEMCAT CORPORATION (Japan)
• Porocel (U.S.)
• Qingdao Huicheng Environmental Technology (China)
• Taiyo Koko Co. Ltd. (Japan)
• Unicat Catalyst Technologies (U.S.)
• Yueyang Sciensun Chemicals (China)