The ‘Global Catalyst Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global catalyst market, assessing the market on the basis of its segments like material, product, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5%
Increasing urbanisation and industrialisation are supporting the significant growth of the global catalyst market. The major drivers of the market include the rising demand for environmental catalysts and the growing adoption of catalysts in various sectors like petroleum refining and polymers. The rising utilisation of catalytic converters in car exhausts in order to reduce airborne pollutants which harm the environment, is bolstering the growth of the market for catalysts. Furthermore, catalysts play an integral role in the pharmaceutical industry, where they are being widely used to convert functionally-grouped molecules into new molecules. This is likely to increase the demand for catalysts in various industries in the forecast timeline.
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Chemical compound materials of catalysts are likely to witness a significant growth in the global catalyst market owing to the surging demand for catalysts in the production of polypropylene and polyethylene. Heterogeneous catalyst products are forecasted to register a spike due to the growing need for conversion of homogeneous catalysts into heterogeneous catalysts, in order to reduce toxicity. Meanwhile, homogeneous catalyst products are also likely to increase in demand in the future due to their ability to carry out reactions under easier conditions, while possessing higher selectivity.
A catalyst is a chemical compound that increases the rate of a reaction without undergoing any chemical change itself. Typically, solid catalysts are halides, oxides or sulphides of semi metallic or metallic elements silicon, boron and aluminium. While solid catalysts are usually dispersed in other substances, their gaseous and liquid forms are either used with appropriate carriers/solvents or used in their pure form.
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On the basis of material, the market is classified into:
• Chemical Compounds
o Breakup by type
Peroxides
Acids
Amines
Others
• Metals
o Breakup by type
Precious Metals
Base Metals
• Zeolites
• Others
Based on product, the market is bifurcated into:
• Heterogeneous
• Homogeneous
On the basis of application, the market is categorised into:
• Heterogeneous Catalyst
o Chemical Synthesis
o Petroleum Refining
o Polymers and Petrochemicals
o Environmental
• Homogeneous Catalyst
o Chemical Synthesis
o Petroleum Refining
o Polymers and Petrochemicals
o Environmental
Based on region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
The key trends propelling the growth of the catalyst market include the growing research and development activities and the rising adoption of cheaper, abundant base metal catalysts. The rising demand for high-quality food products and food safety has surged the demand for catalysts in the food and beverages industry, further expanding the market for catalysts. Key manufacturers are increasingly focussing on producing ecological catalysts in order to meet the mandates by various governments regarding carbon emissions. This, coupled with the rising establishments of various petroleum capacities, is enhancing the growth of the market for catalysts.
The advent of novel catalyst technologies using high throughout experimentation (HTE) is expected to revolutionise the market for catalysts. The development of metal reclaiming processes in order to reduce cost and scarcity of rare metal- catalytic species is also adding to the growth of the market. The rising demand for gasoline and the significantly rising hydrocracking activities is positively influencing the catalyst market. The increased applications of nickel and cobalt as catalysts in the process of breaking and arranging olefins and aromatics is also impacting this market positively.
The major players in the global catalyst market report are
• Albemarle Corporation
• Evonik Industries AG
• Honeywell International Inc.
• BASF SE
• The Dow Chemical Company
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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