June 25, 2024

Industrial Catalysts Market Size To Worth USD 31.49 Bn By 2032

The industrial catalysts market size is poised to grow by $ 31.49 billion by 2032 from $ 20.65 billion in 2023, exhibiting a CAGR of 4.80% during the forecast period 2023-2032.

Industrial Catalysts Market Size 2023 To 2032

Key Takeaways

  • The North America region contributed more than 45% of revenue share in 2022.
  • Asia Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
  • By material, the chemicals segment has held the largest market share of 62% in 2022.
  • By material, the permanent magnet motor segment is anticipated to grow at a remarkable CAGR of 5.4% between 2023 and 2032.
  • By type, the heterogeneous catalyst segment generated over 59% of revenue share in 2022.
  • By type, the homogeneous catalyst segment is expected to expand at the fastest CAGR over the projected period.
  • By application, the chemical synthesis segment generated over 61% of revenue share in 2022.
  • By application, the petrochemicals segment is expected to expand at the fastest CAGR over the projected period.

The Industrial Catalysts Market plays a pivotal role in driving chemical processes across various industries, facilitating the transformation of raw materials into valuable products. These catalysts serve as agents that accelerate reactions, enhance efficiency, and enable the production of essential chemicals and materials on a large scale. As key components in industrial processes, catalysts contribute significantly to the economic and sustainable development of diverse sectors, including petrochemicals, manufacturing, and environmental management.

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Growth Factors:

  1. Technological Advancements: The continuous evolution of catalyst technologies has been a major growth factor in the Industrial Catalysts Market. Innovations such as advanced catalyst formulations, novel materials, and sophisticated manufacturing processes contribute to increased efficiency, reduced energy consumption, and enhanced selectivity in chemical reactions. This technological progress not only improves existing industrial processes but also opens avenues for new applications, driving market expansion.
  2. Environmental Sustainability: The global push towards environmental sustainability has led industries to adopt cleaner and greener processes. Industrial catalysts play a crucial role in these efforts by enabling processes with reduced environmental impact. Catalysts that support cleaner production, waste minimization, and lower emissions are in high demand. As regulatory pressures intensify, industries are increasingly investing in catalysts that align with stringent environmental standards, driving market growth.
  3. Rising Demand in Emerging Economies: Growing industrialization in emerging economies has significantly contributed to the demand for industrial catalysts. As these economies expand their manufacturing capabilities, there is a heightened need for efficient and cost-effective catalysts to drive various chemical processes. The Industrial Catalysts Market experiences substantial growth as industries in these regions seek to optimize production and enhance overall operational efficiency.
  4. Petrochemical Industry Expansion: The petrochemical industry stands as a major consumer of industrial catalysts, driving market growth. As the demand for petrochemical products such as polymers, plastics, and specialty chemicals rises globally, the need for catalysts in refining and petrochemical processes increases. Ongoing expansions and investments in the petrochemical sector contribute significantly to the sustained growth of the Industrial Catalysts Market.

Industrial Catalysts Market Scope

Report Coverage Details
Market Size in 2023 USD 20.65 Billion
Market Size by 2032 USD 31.49 Billion
Growth Rate from 2023 to 2032 CAGR of 4.80%
Largest Market North America
Base Year 2022
Forecast Period 2023 To 2032
Segments Covered By Type, By Material, and By Application
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Read More: Healthcare Predictive Analytics Market Size To Attain USD 98.54 Billion By 2032

Type

The types of industrial catalysts play a crucial role in determining their specific applications and effectiveness. Broadly classified, industrial catalysts can include heterogeneous catalysts, homogeneous catalysts, and biocatalysts. Heterogeneous catalysts are commonly used, involving a phase boundary between the catalyst and reactants. Homogeneous catalysts are in the same phase as the reactants, allowing for more uniform reactions. Biocatalysts, derived from living organisms, are gaining popularity for their environmental sustainability.

Material

The material composition of industrial catalysts influences their catalytic activity and durability. Common materials include metals like platinum, palladium, and rhodium, which are widely used in automotive catalytic converters. Other materials such as zeolites, silica, and alumina are prevalent in heterogeneous catalysts, contributing to their unique properties. The choice of material depends on the desired reaction and the specific industry requirements, with ongoing research focusing on developing novel materials for enhanced catalytic performance.

Application:

The applications of industrial catalysts span various industries, each with its unique requirements. In the petrochemical industry, catalysts are employed in processes like refining and cracking to enhance the production of fuels and chemicals. Environmental applications involve catalysts in emissions control systems, aiding in the reduction of pollutants from industrial processes and vehicle exhaust. The pharmaceutical industry utilizes catalysts in the synthesis of pharmaceutical compounds, while the food industry employs them in edible oil processing and flavor enhancement. The diverse range of applications underscores the significance of industrial catalysts across multiple sectors.

Reasons to Purchase this Report:

  • Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
  • In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
  • Market size in USD million and volume in million units provided for each segment and sub-segment.
  • Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
  • Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

Industrial Catalysts Market Players

  • Albemarle Corporation
  • Johnson Matthey
  • BASF SE
  • Axens
  • Clariant AG
  • W. R. Grace & Co.
  • Evonik Industries AG
  • Chevron Phillips Chemical Company
  • Arkema SA
  • ExxonMobil Corporation
  • Shell Global Solutions
  • Dow Inc.
  • Honeywell International Inc.
  • Solvay SA
  • Zeolyst International

Segments Covered in the Report

By Type

  • Homogenous
  • Heterogenous

By Material

  • Metals
  • Chemical
  • Organometallic

By Application

  • Petroleum refining
  • Chemical Manufacturing
  • Environmental
  • Food Processing

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Industrial Catalysts Market 

5.1. COVID-19 Landscape: Industrial Catalysts Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Industrial Catalysts Market, By Type

8.1. Industrial Catalysts Market Revenue and Volume, by Type, 2023-2032

8.1.1 Homogenous

8.1.1.1. Market Revenue and Volume Forecast (2020-2032)

8.1.2. Heterogenous

8.1.2.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 9. Global Industrial Catalysts Market, By Material

9.1. Industrial Catalysts Market Revenue and Volume, by Material, 2023-2032

9.1.1. Metals

9.1.1.1. Market Revenue and Volume Forecast (2020-2032)

9.1.2. Chemical

9.1.2.1. Market Revenue and Volume Forecast (2020-2032)

9.1.3. Organometallic

9.1.3.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 10. Global Industrial Catalysts Market, By Application 

10.1. Industrial Catalysts Market Revenue and Volume, by Application, 2023-2032

10.1.1. Petroleum refining

10.1.1.1. Market Revenue and Volume Forecast (2020-2032)

10.1.2. Chemical Manufacturing

10.1.2.1. Market Revenue and Volume Forecast (2020-2032)

10.1.3. Environmental

10.1.3.1. Market Revenue and Volume Forecast (2020-2032)

10.1.4. Food Processing

10.1.4.1. Market Revenue and Volume Forecast (2020-2032)

Chapter 11. Global Industrial Catalysts Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.1.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.1.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.1.4. U.S.

11.1.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.1.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.1.4.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.1.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.1.5.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.2. Europe

11.2.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.2.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.2.4. UK

11.2.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.2.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.4.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.2.5. Germany

11.2.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.2.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.5.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.2.6. France

11.2.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.2.6.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.6.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.2.7.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.2.7.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.3. APAC

11.3.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.3.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.3.4. India

11.3.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.3.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.4.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.3.5. China

11.3.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.3.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.5.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.3.6. Japan

11.3.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.3.6.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.6.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.3.7.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.3.7.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.4. MEA

11.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.4.4. GCC

11.4.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.4.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.4.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.4.5. North Africa

11.4.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.4.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.5.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.4.6. South Africa

11.4.6.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.4.6.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.6.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.4.7.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.4.7.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.5. Latin America

11.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.5.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.5.4. Brazil

11.5.4.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.5.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.5.4.3. Market Revenue and Volume Forecast, by Application (2020-2032)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Volume Forecast, by Type (2020-2032)

11.5.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)

11.5.5.3. Market Revenue and Volume Forecast, by Application (2020-2032)

Chapter 12. Company Profiles

12.1. Albemarle Corporation

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Johnson Matthey

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. BASF SE

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Axens

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Clariant AG

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. W. R. Grace & Co.

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. Evonik Industries AG

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Chevron Phillips Chemical Company

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Arkema SA

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. ExxonMobil Corporation

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

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