Global Precious Metal Catalysts Market, By Type (Platinum, Palladium, Ruthenium, Rhodium, Rhenium, Iridium, Gold, Nickel, Silver, Others), Application (Automotive, Refining, Petrochemicals, Oil, Mining, Others) – Industry Trends and Forecast to 2029.
Precious Metal Catalysts Market Analysis and Size
Since platinum, palladium, iridium, ruthenium, and other precious metals are chemically inactive and highly stable, they are used in various industries, including petrochemicals, refineries, chemicals, polymers, and pharmaceuticals.
Data Bridge Market Research analyses that the precious metal catalysts market was valued at USD 18.62 billion in 2021 and is expected to reach the value of USD 31.26 billion by 2029, at a CAGR of 6.69% during the forecast period of 2022-2029. 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 includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Precious Metal Catalysts Market Scope and Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD billion, Volumes in Units, Pricing in USD
Type (Platinum, Palladium, Ruthenium, Rhodium, Rhenium, Iridium, Gold, Nickel, Silver, Others), Application (Automotive, Refining, Petrochemicals, Oil, Mining, Others)
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
Market Players Covered
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), Vineeth Precious Catalysts Pvt. Ltd., Chimet (U.S.). Sabin Metal Corporation (U.S.), American Elements (U.S.), Remettal Deutschland AG (Germany)
Precious metals, also known as noble metals, are metals that are chemically inactive and chemically stable. Precious metals include gold, palladium, platinum, rhodium, and silver, to name a few. Precious metal catalysts are highly dispersed nano-scale precious metal particles supported by a high surface area material such as carbon, silica, or alumina. These catalysts have many applications, including refinery, petrochemicals, polymers, chemicals, pharmaceuticals, automotive, and environmental. Each precious metal catalyst has distinct properties. These catalysts are mostly employed in organic synthesis reactions.
Global Precious Metal Catalysts Market Dynamics
- Strict regulations from higher authorities towards conservation of environment
Governments implemented emission regulations to control pollution levels, and catalytic converters quickly became a common way to help meet these new requirements. Catalytic converters reduce pollution by converting toxic by-products of vehicle engines through an internal combustion technique that catalyses chemical reactions. To ensure that pollution targets are met, regulators have imposed strict regulations on the performance characteristics of these products, which are expected to drive demand for precious metal catalysts. Thus, strict government regulations are expected to drive the growth of the precious metal catalysts market during the forecast period.
- High adoption of Nano-particles
The use of nano-particle catalysts made from noble materials has increased due to improved and faster performance during chemical processing and to offset the high cost of noble materials. The nano-scale metal particles found in precious metal catalysts readily absorb hydrogen and oxygen into the atmosphere. Under normal conditions, absorbed hydrogen and oxygen readily react with a variety of substitutes. Thus, by reducing by-product formation and maintaining mild reaction conditions, achieving a relatively high product yield is possible. With recent advancements in nanotechnology, progress has been made in the preparation of precious metal catalysts. As a result, energy has been saved, productivity has increased, and production costs have decreased.
- Research and Development activities
The global precious metal catalysts market is being driven by increasing R&D investments in the precious metal market with the goal of reducing costs and maximising returns. Another factor driving the market is rising petrochemical demand from industries such as automotive and construction.
- Price volatility
However, the performance reliance on temperature and loss of activity due to poising and thermal deactivation and coming out of nano-particle catalysts will impede the growth of precious metal catalysts during the forecast period, whereas precious metal price volatility and increasing demand for electric vehicles will pose market challenges.
This precious metal 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 precious metal 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 Precious Metal Catalysts Market
COVID-19 has significantly impacted the precious metal catalysts market's demand and supply chain. 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. The COVID-19 crisis has fundamentally altered the operations of the pharmaceutical industry worldwide. In the first two quarters of 2020, the countries put short-term pressure on budgets, reduced treatment of non-COVID-19 patients, and weakened market fundamentals. However, the pharmaceutical industry is returning to normalcy, which is expected to boost demand for precious metal catalysts during the forecast period. ?
- In November 2020 Evonik Industries AG acquired the Porocel Group in Houston. (USA). With this acquisition, the company intends to broaden its competencies with new technologies and products in order to strengthen the global presence of Evonik's catalyst activities.
- In March 2020 BASF SE launched a Tri-Metal Catalyst, which can reduce the cost of catalytic converters for automakers while partially rebalancing consumer demand for Platinum Group Metals (PGMs), improving the market's sustainability.
Global Precious Metal Catalysts Market Scope
The precious metal catalysts market is segmented on the basis of type and application. The growth amongst these segments will help you analyse 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.
Precious Metal Catalysts Market Regional Analysis/Insights
The precious metal catalysts market is analysed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the precious metal 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, 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 region held the largest share of the precious metal catalysts market. Due to the growing automotive, pharmaceutical, and petrochemical industries, the Asia-Pacific region dominates global demand for precious metal catalysts. Due to the region's easy availability of raw materials at competitive prices, Asia Pacific accounts for a significant portion of the global precious metal catalysts market. Rapid growth in China, India, and South Korea's automotive and pharmaceutical industries is expected to drive demand for precious metal catalysts in the near future.
European precious metal catalysts are set to grow at the highest rate over the forecast period. Rising environmental concerns are propelling the hydrogen fuel cell vehicle market, which is reviving the automotive industry. Beginning in 2021, new passenger cars must emit 95 grams of CO2 per kilometre. Health-care spending is increasing, which increases product demand.
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 Precious Metal Catalysts Market Share Analysis
The precious metal 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 precious metal catalysts market.
Some of the major players operating in the precious metal 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)
- Vineeth Precious Catalysts Pvt. Ltd., Chimet (U.S.)
- Sabin Metal Corporation (U.S.)
- American Elements (U.S.)
- Remettal Deutschland AG (Germany)