Catalysts Market

GMI Research analysis indicates that the Catalysts Market size was estimated at USD 28.6 billion in 2022 and is slated to register a single digit CAGR of 4.7% over the forecast period, and is projected to reach USD 41.3 billion in 2030.

Major Catalysts Market Drivers

The global catalyst market growth is predicted to rise due to a growth in the consumption of fuels, increase in demand for catalysts from different industries, a high rise in investments in businesses, speedy development in the pharmaceutical industry, and shifting power requirements for alternative fuels including biodiesel. The demand for catalysts increased significantly from global producers for cost-saving, process optimization, yield development, and power-saving because of the growing need for applications including chemical synthesis, petroleum refining, and polymers & petrochemicals. Additionally, there is a significant rise in demand for environmental catalysts as they aid producers in fulfilling vigorous regulatory mandates about CO2, Sox, and NOx emissions. The rise in carbon emissions and subsequent climate changes has forced the legal authorities to move towards sustainable power sources and a considerable surge in government initiatives is pushing the producers to move towards alternative fuel. The growing implementation of alternative power and fuel such as shale gas fuel and biodiesel is predicted to drive the catalyst market trends during the forecast period.

In addition, the polymer market is significantly fragmented and includes thermoplastics, thermosets, and elastomers. It is predicted that the considerable development in these markets fosters the growth of the global catalyst market in the forecast period. Also, in different end-use industries including electrical and electronics, automotive, and others there is a regular increase in demand for polymers is predicted to have a high potential for global catalyst market size. Besides this, continuous research and development of more effective and relevant catalysts, the succeeding industry due to the ongoing rise in demand for polymers and plastics, and the considerably increasing automotive industry are other popular factors that are anticipated to foster the global catalyst market value in the forecast period. The rapid development in sustainable energy sources such as hydrogen, and biofuels has boosted the market growth and resulted in different market growth opportunities. Different upcoming and continuous infrastructure development practices are also introducing demand for catalysts used in the practices of the construction industry.

Different organizations across different industries are incorporating sustainability and CSR into their business strategies which leads to a substantial rise in demand for eco-friendly catalysts, in turn fostering the global catalyst market growth. The substantial boom in the customer goods industry, driven by a high rise in urbanization and a growing population, is another contributor to the developed catalysts demand in chemical creation and other manufacturing procedures. Moreover, an increase in spending on research and development activities, as well as supportive government initiatives including tax & other incentives, lessened custom duty, and relaxed FDI rules, for end-users to accept eco-friendly practices are other factors introducing different market growth opportunities for the market players functioning in the global catalyst market.

The significant adoption of different supportive environmental regulations and emission rules globally has pushed several industries to move towards cleaner and greener production procedures to decrease hazardous emissions. Catalysts offer different benefits in different segments including waste treatment, emission reduction, & pollution control which in turn drives the catalyst market growth globally. In addition, the growing demand for sustainable fuels for sustainable transportation due to a significant rise in environmental concerns is another popular factor driving the demand for catalysts, and in turn, propelling the global catalyst market trends and growth in the forecast period.

The global catalyst market presents significant market growth opportunities, but its development is restrained by factors including intricate manufacturing procedures for catalysts and the scarcity of raw materials. Technological innovations in key fields such as chemical synthesis decrease the demand for catalysts, leading to a negative impact on global market demand. The high production cost and concerns connected to sintering, a leading source of the worsening of catalytic performance in industrial catalysts functioning at high temperatures, are significant limitations for the growth of global catalysts market growth.

By Raw Material, Chemical Compound segment led the market growth

Chemical compound including sulfuric acid, calcium carbonate, and hydrofluoric acid are heavily utilized as catalyst raw material for different applications in chemical, polymer, and petrochemical industries globally. The growth of this segment is aided by the significant increase in the usage of chemical compounds for catalysts utilized in the polypropylene and polyethylene manufacturing procedures. Moreover, their effectiveness as absorbents for different gases and volatile organic compounds has led to increased usage in environmental applications such as water and air purification, removal of harmful substances, and emission control from industrial effluents. These applications introduce growth opportunities for the global catalyst market.

By Product, Heterogeneous product segment significantly dominated the market growth

Heterogeneous catalysts can be introduced from homogeneous materials with the usage of solid assistance. Sulphated zirconia serves as a common example of heterogeneous catalysts. The heterogeneous catalysts offer different benefits such as cost-effectiveness, ease of use, and parting of applications and products. It is also predicted that these will be adopted more significantly than their homogenous materials in biodiesel production in the forecast period. Furthermore, the significant growth in interest in utilizing the heterogenous catalysts to introduce biodiesel from microalgal oil, a reliable feedstock compared to others, is significantly attributed to the revenue growth of this segment in the global catalyst market.

By application, chemical synthesis held the largest market share in the market

The catalysts applications are popular in chemical synthesis due to their different properties, and superior characteristics, including high stability, promoting enantioselective procedures, and alkene and alkyne activation. Chemical synthesis catalysts are predominantly utilized to introduce raw materials for petroleum refining and carry high-quality products in different industries. Also, due to their superior properties, they have excellent functional group easiness and are cost-effective. All the above factors aid in growing the usage of catalysts in chemical synthesis and fostering the growth of this segment.

By Region, Asia Pacific region accounted the largest CAGR of the global catalysts market

The growth of Asia Pacific region, specifically in China and India, is propelled by their subsequent industrial segments and the extensive demand for catalysts in different end-user verticals, including chemicals, petrochemicals, refining, and environmental applications, among others. During the present years, the speedy economic growth and industrial innovations in the APAC region have led to increased productivity and consumption of fuels, chemicals, and other commodities, and have introduced substantial global demand for catalysts to boost and develop these practices of production.

In addition, the growing petrochemical industry, specifically in China, is a significant contributor to the APAC catalyst market growth due to its strong dependency on catalysts for chemical plant operations and refineries. Moreover, China become the leading manufacturing nation for petrochemicals and chemical goods due to the effective growth in demand and low manufacturing costs related with the European Union and US nations. The growing spending by government entities and increase in FDI investments in the region and the profitable growth opportunities and strategies predicted by emerging nations such as India will drive the regional market growth. Furthermore, the presence of giant market players and strategic collaborations between market players and the manufacturing and transportation of catalysts, particularly in emerging markets, has resulted in continued growth in the forecast period.

By Region, North America region is predicted to observe steady growth in the global catalyst market

The regional growth is propelled by to significant move in energy demand for sustainable substitute fuels, the existence of giant pharmaceutical enterprises, and growth in the need for PGM for use in decarbonizing energy systems, which has led to a rise in catalyst demand. The demand for catalysts has increased owing to favorable government regulations, which have motivated their usage in different industries. Furthermore, it is predicted that the US is one of the top exporters of refined petroleum which further increase demand for catalyst around the North American region and propels the revenue growth of the catalysts market around the region.

Top Market Players

Various notable players operating in the market include Albemarle Corporation, Haldor Topsoe A/S, BASF SE, Evonik Industries AG, LyondellBasell Industries Holdings B.V., Arkema, The Dow Chemical Company, W. R. Grace & Co., Johnson Matthey, Honeywell, Nippon Shokubai Co., Ltd. among others

Key Developments

• • In 2023, Albemarle Corporation announced the launch of a wholly-owned subsidiary, Ketjen Corporation to develop catalyst solutions for the refining and specialty chemicals, and petrochemical industries.
  • In 2023, Evonik expanded in China for catalyst production and to support local demand with the supply of high-quality goods to significantly increase applications in different industries.
  • In 2023, Johnson Matthey signed an agreement with Hystar AS to foster the production of green hydrogen and support companies to fulfill their net-zero emission objectives.
  • In 2023, NIPPON SHOKUBAI CO., LTD joined hands with Mitsubishi Heavy Industries, Ltd to deliver material demanded by people and society and developing the portfolio.
  • In 2023, Evonik Catalysts announced an investment in production expansion to meet the increasing need for its metal-free powder hydrogenation catalysts from agrochemical, pharmaceutical, and sugar alternative industries.
  • In 2022, BASF announced the launch of X3D technology to manufacture catalysts with finest shape to accomplish efficiency and high performance while decreasing power consumption.
  • In 2022, BASF launched CircleStar to lessen the carbon footprint in the bio-ethylene value chain for goods varying from jet fuel to plastics and possess sustainable feedstocks.
  • In 2021, BASF announced the acquisition of Zodiac Enterprises LLC to extend the capacity of production and fulfill the growing demand for consumers.

Segments covered in the Report:

The Global Catalysts Market has been segmented on the basis of Product, application and Raw Material. Based on the Product the market is segmented into Heterogeneous Catalyst, Homogeneous Catalyst. Based on the application the market is segmented into Chemical Synthesis, Petroleum Refining, Polymers and Petrochemicals, Environmental. Based on the raw material the market is segmented into Chemical Compounds, Metals, Zeolites and Others.

Report Coverage	Details
Market Revenues (2022)	USD 28.6 Billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Product, By Application, By Raw Material, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Albemarle Corporation, Haldor Topsoe A/S, BASF SE, Evonik Industries AG, LyondellBasell Industries Holdings B.V., Arkema, The Dow Chemical Company, W. R. Grace & Co., Johnson Matthey, Honeywell, Nippon Shokubai Co., Ltd., among others; a total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Catalysts Market by Product

• • Heterogeneous Catalyst
  • Homogeneous Catalyst

Global Catalysts Market by Application:

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

Global Catalysts Market by Raw Material 

• • Chemical Compounds
  • Metals
  • Zeolites
  • Others

Global Catalysts Market by Region

• • North America Catalysts Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Application
    • By Raw Material
    • US Market All-Up
    • Canada Market All-Up
  • Europe Catalysts Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Application
    • By Raw Material
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Catalysts Market (Option 3: As a part of the free 25% customization)
    • By Product
    • By Application
    • By Raw Material
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Catalysts Market (Option 4: As a part of the free 25% customization)
    • By Product
    • By Application
    • By Raw Material
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Catalysts Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Albemarle Corporation
  • Haldor Topsoe A/S
  • BASF SE
  • Evonik Industries AG
  • LyondellBasell Industries Holdings B.V.
  • Arkema
  • The Dow Chemical Company
  • R. Grace & Co.
  • Johnson Matthey
  • Honeywell
  • Nippon Shokubai Co., Ltd.