Catalyst Market
Report ID: SQMIG15E2342
Catalyst Market Size, Share, Growth Analysis, By Raw Material (Metals, Chemical Compounds), By Application (Petroleum Refining, Environmental), By Product Type, By End User (Oil & Gas, Environmental Protection), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2342 |
Region:
Global |
Published Date: November, 2024
Pages:
265
|Tables:
92
|Figures:
76
Catalyst Market Insights
Global Catalyst Market size was valued at USD 33.9 billion in 2022 and is poised to grow from USD 35.4 Billion in 2023 to USD 49.2 billion by 2031, growing at a CAGR of 4.2% during the forecast period (2024-2031).
Catalyst is a chemical compound that is used in small amounts to speed up a reaction by lowering the activation energy. The catalyst does not undergo any chemical change during a chemical reaction and remains in its initial state throughout the reaction.
Catalysts are widely utilized in various type of technologies and are essential for regulation of industrial emissions, and in the production of energy. Due to their extensive use in manufacturing methods, they can have a bad impact on environment. Hence, quest for novel materials, such as Environment Friendly Catalysts, are likely to drive the market growth substantially.
Increased number of newly developed catalytic technologies across the globe have either hit the market or are currently being tested in fully functional pilot plants are expected to drive the market growth in the coming years. For instance, ExxonMobil is utilizing High Throughput Experimentation (HTE) to identify and apply novel catalyst technologies which are crucial for future advancements to quicker the speed of catalyst innovation.
US Catalyst Market is poised to grow at a sustainable CAGR for the next forecast year.
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Catalyst Market Segmental Analysis
Global Catalyst Market is segmented by Raw Material, Application, Product Type, End User and Region. Based on Raw Material, the market is segmented into Chemical compounds (Peroxides Acids, Amines & others), Metals (Precious metals, Base metals), Zeolites, and Others. Based on Application, the market is segmented into Chemical synthesis, Petroleum refining, Polymers & petrochemicals, Environmental and others. Based on Product Type, the market is segmented Heterogeneous Catalyst, Homogeneous Catalyst, Biocatalysts, and Others. Based on end user, the market is segmented into Oil & Gas, Chemical Manufacturing, Automotive, Environmental Protection, Energy, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Catalyst Market Analysis by Type
By type, the heterogenous catalysts segment accounted for the largest market share in 2021 owing to the properties like recyclable, ecologically friendly, and easily recoverable. Due to their exceptional performance, heterogenous catalysts are being heavily used in the production of biodiesel from non-edible oil across the globe. Furthermore, there is a rising demand for heterogenous catalysts to produce biodiesel from microalgal oil as a reliable feedstock in comparison to others, which is significantly expected to contribute in the growth of this segment during the forecast period.
Moreover, the homogeneous catalysts segment is accounted for a significant market share in 2021. Homogeneous catalysts are more preferable as compared to heterogeneous catalysts because they can easily carry out the reaction at softer conditions, have higher selectivity, and are simpler to spectroscopically monitor. All these factors of homogeneous catalysts are projected to drive the growth of the segment throughout the forecast period.
Catalyst Market Analysis by Application
By application, the chemical synthesis segment dominated the market with 28.3% share in 2021, and is expected to maintain its dominance throughout the forecast period owing to their properties such as alkyne activation, high stability, and enantioselective process promotion. Furthermore, they posses exceptional functional group tolerance, cost-effective, and do not require additional ligands. All of these factors are responsible for the extensive growth in the usage of chemical synthesis and are expected to boost the market in the near future.
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Catalyst Market Regional Insights
Globally, Asia Pacific dominated the catalyst market with a contribution of more than 40% of market share in 2021, owing to rise in demand for automotive from developing economies, such as India and China, Furthermore, rapid industrialization activities, stringent automotive legislation, and increase number of applications in end-user industries are some other factors that are expected to foster the market growth in the region over the forecast period. For instance, in February 2022, BASF and Heraeus have agreed to create and launch a joint venture (BASF 50% and Heraeus 50%) to recover valuable metals from wasted catalysts of automobiles. The newly formed business will be based in Pinghu, China and known as BASF HERAEUS (China) Metal Resource Co., Ltd.
North America holds the second largest market share and anticipated to have a significant boost during the forecast period. Shifting energy demands for alternative fuels, rising demand for Platinum-Group-Metals Catalysts (PGM), and presence of large pharmaceutical companies are the major factors expected to drive the market growth and demand in the coming years. According to a data, in 2021, U.S. were the top exporter of petroleum with a total export of about 8.63 million barrel per day. Also, in 2021, the United States produced about 18.66 million b/d of petroleum and consumed about 19.78 million b/d.
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Catalyst Market Dynamics
Catalyst Market Drivers
- Growing demand for petroleum refined products, petrochemicals, and chemical synthesis are the key driving factors of the global catalyst market. The ability and capacity of a catalyst to reduce the amount of energy to produce an end product, environmental regulations on emissions control, and lowering energy cost is also a major driver contributing to market growth over the forecast period.
Catalyst Market Restraint
- High level of complexity in the production process of catalysts and limited availability of raw materials required in the production of catalyst are expected to be the restraining factors of the global catalyst market during the forecast period. Above factors can be resulted in the high production cost, wastage of time, and low reliability of product which can have a negative impact on the growth of the market in the future.
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Catalyst Market Competitive Landscape
The global catalyst market is fairly fragmented with the presence of many large and medium-sized players accounting a majority of market share across the globe such as BASF SE, Dow Chemical Company, and Clariant AG. Key players are impending various strategies, mergers & acquisitions, testing, and launching more attractive catalyst solution. For instance, In March 2020, BASF announced that they have created and successfully tested a novel tri-metal catalyst technology, supported by Sibanye-Stillwater and Impala Platinum.
Top Players in the Global Catalyst Market
- BASF SE (Germany)
- Johnson Matthey (UK)
- Clariant International Ltd. (Switzerland)
- Honeywell UOP (USA)
- Shell Catalysts & Technologies (Netherlands)
- ExxonMobil Catalysts and Licensing (USA)
- LyondellBasell Industries (USA/Netherlands)
- Albemarle Corporation (USA)
- Haldor Topsoe (Denmark)
- Umicore (Belgium)
- W.R. Grace & Co. (USA)
- Sinopec (China)
- Arkema S.A. (France)
- The Dow Chemical Company (USA)
- DuPont de Nemours, Inc. (USA)
- Cabot Corporation (USA)
- Engelhard Corporation (acquired by BASF, USA)
- KNPC (Kuwait)
- CRI Catalyst Company (USA)
- Mitsubishi Chemical Corporation (Japan)
Catalyst Market Recent Developments
- In July 2021, BASF SE announced that it has acquired Zodiac Enterprises LLC. In Caldwell, Texas, for the expansion of its capability and capacity for chemical catalyst recycling. The facility will supplement BASF’s current precious metal recycling operations in Seneca, South Carolina, by recycling precious metals from industrial scrap, primarily chemical catalysts.
- In February 2021, a subsidiary of Bharat Petroleum Corporation Ltd. has designated Axens for supplying advanced technologies in the gasoline block for its Numaligarh Refinery Expansion Project. They have planned to expand the capacity to 9000 KT per annum.
Catalyst Key Market Trends
- Growing expansion of the petroleum industry is resulting in the rising establishment and development of petroleum capacities along with the increase in need for various chemical products and eco-friendly fuels. This has resulted in a positive impact on the global catalyst market. Additionally, the rapid growth for the petroleum-based products from power generation plants is expanding the market growth of petrochemicals plants and petroleum refining for a safer, faster, and convenient production process.
- Increasing use of catalytic converters in automobile manufacturing emission control systems is creating lucrative growth opportunities for industry investors. This can also be attributed to rising concerns associated with environment and the stringent regulations for controlling emission levels. Moreover, strategic collaborations among key industry players to expand their global market reach and their product portfolio, along with increasing R&D investments, are impelling the market growth.
Catalyst Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, global catalyst market is expected to grow at a healthy rate during the forecast period owing to rising demand for various catalysts, high adoption of automobiles, and increased penetration for refined petroleum across the globe. In addition, mergers & collaborations, partnerships amongst key market players, and various government initiatives to control emission across the globe are further expected to fuel the growth of the market throughout the forecast period. However, shortage of raw materials to produce large quantity of catalysts and environmental concerns associated with the production activities might hinder the growth of the market in the near future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 33.9 billion |
| Market size value in 2031 | USD 49.2 billion |
| Growth Rate | 4.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Catalyst Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Catalyst Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Catalyst Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Catalyst Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Catalyst Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Catalyst Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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