Global Metal Based Catalysts Market – Industry Trends and Forecast to 2029

Global Metal Based Catalysts Market, By Metal Type (Platinum, Palladium, Rhodium, Ruthenium, Iridium, Gold, Others), End- Users (Automobile, Pharmaceutical, Refinery, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

The various catalysts are increasingly being used to reduce the processing time of crude oil refining while also improving the efficiency of refining equipment. Over the last few years, the market has been driven by favorable environmental regulations regarding the non-harmful effects of catalysts in various industries. The European Catalyst Manufacturers Association (ECMA) advocates for the use of catalysts in various industries to reduce emissions and pollution. Furthermore, the introduction of biocatalysts is anticipated to open up new growth prospectus for the market during the forecast period.

Global metal based catalysts market was valued at USD 15.13 billion in 2021 and is expected to reach USD 23.71 billion by 2029, registering a CAGR of 5.78% during the forecast period of 2022-2029. The "platinum" accounts for the largest type segment in the metal-based catalysts market due to its high emission control catalyst utilization. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Report Scope and Market Segmentation

Market Definition

Catalysts are chemical compounds that are used to increase the rate of a chemical reaction by lowering or increasing the process's activation energy. Metal-based catalysts play an important role in the catalytic transformation of organic compounds. As catalysts for the transformation of organic compounds, simple metal oxides, metal salts, or metal complexes can exhibit high activity.

Metal Based Catalysts Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increased Demand for Platinum

Platinum is a majorly market used within the market because the platinum catalyst helps to reduce CO2 emissions. It is primarily used in the automobile industry to reduce the impact of pollutants emitted by industrial processing units. The rise in the sale of diesel vehicles validates the majority of platinum consumption. Platinum is also used as one of the emission control catalysts. As a result of the region's implementation of more stringent Euro 6 and Euro 7 emission rules, it is expected to dominate the European market. Moreover, many essential catalysts rely on platinum, palladium, ruthenium, rhodium, iridium, and osmium, so the platinum group metals are also used in the pharmaceutical industry.

• High Utilization Across Industries and Growing Environmental Concerns

Metal catalysts are widely used in many industries, including petrochemicals, pharmaceuticals for chemical synthesis, automobiles, and refining. The significant growth of these industries in recent years, combined with strict emission control regulations and the need for cleaner fuels, heavy, and sour crudes, is driving the demand for metal catalysts. Emission control norms have become more stringent in many developing and developed countries over the last decade, with developed regions such as North America and Europe becoming tougher with legal ramifications. Stringent emission control regulations, which have been dominant in Europe and the United States, are gradually gaining traction in the Asia-Pacific region. These regulations have encouraged the growth of the global precious metal catalysts market by reducing vehicle emissions.

Furthermore, the increasing awareness about the advantages of metal based catalysts will further propel the growth rate of metal based catalysts market. Additionally, the expansion of the automotive industry is also projected to bolster the growth of the market.

Opportunities

• Surging Research and Development and Investments

Furthermore, various research and development activities to reduce costs and to improve the quality of catalysts extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the increasing investment in automobile sectors will further expand the metal-based catalysts market's future growth.

Restraints/Challenges

• Disadvantages Of Metal based Catalysts

The various disadvantages of metal-based catalysts such as performance dependency on temperature and loss of activity through poising and thermal deactivation coupled with the price volatility in metals will create hindrances for the metal-based catalysts market's growth.

• Growing Demand for Electronic Vehicles (EVs)

Also, the rising demand of electronic vehicles (EVs) further reduces the usage of precious metals in automobile will prove to be a demerit for the metal based catalysts market. Therefore, this factor is anticipated to challenge the metal based catalysts market growth rate.

This metal based catalysts 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 metal based catalysts market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Metal Based Catalysts Market

The recent outbreak of coronavirus had a negative impact on the metal based catalysts market. The automobile and petrochemical industries, which are the market's major applications, are negatively impacted by the pandemic due to government transportation lockdown regulations, affecting the precious metal catalysts market. Moreover, several countries were forced to go into lockdown, causing people to reduce their use of personal vehicles, negatively impacting the demand for automotive catalysts used in vehicle exhaust streams and, as a result, decreasing the demand for metal catalysts. Over the forecast period, the aforementioned determinants will weigh the market's revenue trajectory over the forecast period.

On the brighter side, the market is estimated to revive as individual regulatory bodies begin to relax these enforced lockdowns. The suspended and cancelled operations will continue and as a result the market is estimated to expand.

Global Metal Based Catalysts Market Scope

The metal based catalysts market is segmented on the basis of metal type and end-users. 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.

Metal Type

• Platinum
• Palladium
• Rhodium
• Ruthenium
• Iridium
• Gold
• Others

End-Users

• Automobile
• Pharmaceutical
• Refinery
• Others

Metal Based Catalysts Market Regional Analysis/Insights

The metal based catalysts market is analyzed and market size insights and trends are provided by country, metal type and end-users as referenced above.

The countries covered in the metal based catalysts 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, Israel, Egypt, South Africa, 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 market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the growth in living standards, growing population and per capita income within the region.

On the other hand, North America is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing investments and the presence of various manufacturers within the region.

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 Metal Based Catalysts Market Share Analysis

The metal based catalysts 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 metal based catalysts market.

Some of the major players operating in the metal based catalysts market are

• 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)