Catalyst Market Size, Share & Trends Analysis Report By Raw Material, By Product by Application (Heterogeneous, Homogeneous), By Region, And Segment Forecasts, 2023 - 2030

ReportOverview

The global catalyst market size was valued at USD 29.7 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030. There has been an increase in demand for catalysts from manufacturers worldwide for process optimization, yield improvement, cost-saving, and energy saving due to the escalating demand from applications such as petroleum refining, chemical synthesis, polymers & petrochemicals, and environmental. The polymer market is highly fragmented and includes thermosets, thermoplastics, andelastomers. Growth in these individual markets is anticipated to boost the market for catalysts over the next eight years. The consistent rise in demand for polymers in various end-use industries, including the automotive and electrical & electronic industries, is anticipated to have the highest potential for growth of the catalyst market, as China is likely to fuel the demand for polypropylene and polyethylene due to low-cost labor, downstream processing capacity conditions, and government stimulus packages.

Moreover, stringent environmental regulations are a major disadvantage to the refining industry; however, they prove to be very advantageous to therefinery catalyst market. The use of “drop-in” catalysts is a preferred choice for existing refinery setups. Intensive R&D activities are being undertaken by catalyst manufacturers to keep pace with the rapidly expanding refinery industry.

The U.S. catalyst market is projected to grow at a significant rate on account of expanding end-use industries including chemical, refinery, andpetrochemical. The growing gasoline demand in the U.S. is anticipated to contribute to the significance of hydrocracking and FCC activities intended for transforming heavy crude oil to light cuts, thereafter, influencing the catalyst market on a positive note.

Product By Application Insights

The heterogeneous product segment dominated the market with a revenue share of 71.7% in 2022. This growth is attributed to its ability to reduce their toxicity, homogeneous catalysts are changed into heterogeneous catalysts using rigid supports. The key heterogeneous catalysts are silicon dioxide, titanium dioxide, calcium carbonate, and barium sulfate. These compounds are used, among other things, in the dehydration of D-xylose into furfural, the creation of ethyl acetate from ethanol and acetic acid, the transesterification of palm oil with methanol into biodiesel, and the hydrolysis of cellulose.

Homogenous compounds are majorly used for the esterification of carboxylic acids, which is likely to create a stable demand for the product. In addition, the growing popularity of organometallic compounds for the production of polyethylene and polypropylene is further expected to fuel their demand in the near future.

Raw Material Insights

The chemical compounds raw material segment dominated the market with a revenue share of 39.7% in 2022. This growth is attributed to the growing consumption of chemical compounds for catalysts used in the manufacturing of polypropylene and polyethylene. Some of the key chemical compounds used in polymer, petrochemical, and chemical industry are sulfuric acid, hydrofluoric acid, and calcium carbonate.

In the production of olefins, which are then processed to create a variety of polymer compounds, metal catalysts are used in downstream sectors to transform saturated compounds like alkanes. Noble, non-noble, and other metals, as well as others, are the materials that perform dehydrogenation and hydrogenation. Diesel, jet fuel, LPG, and gasoline fractions with high octane ratings are among the main products made in refineries that use metal catalysts in the hydrocracking process.

Zeolitesare created naturally when layers of volcanic rocks and ash combine with alkaline water. Due to the inclusion of quartz and other elements, natural zeolites are impure. On the other hand, zeolites can also be produced commercially by slowly crystallizing silica-alumina gel with numerous additional atoms added to boost their activity and performance in a specific process.

Catalysts are an integral part of the polymerization process of a monomer with a carbon-carbon double bond. In chain reaction polymerization, the catalyst used is generally a free radical from organic peroxide. The segment is expected to witness significant growth owing to increasing demand for high-quality plastics.

Regional Insights

Asia Pacific emerged as the dominating region with a revenue share of 34.5% in 2022. This growth is attributed to the dominance of China's chemical, polymer, petrochemical, and automobile sectors. Due to rising domestic demand and lower manufacturing costs than the U.S. and other European Union nations, China, which had a sizable number of chemical and polymer production companies, became a major manufacturing hub for chemical and petrochemical goods.

Low sulfur and automotive regulations are changing the catalyst industry in North America, necessitating the use of environmental compounds in the region. The demand for market, which are essential for converting heavy crude oil into light fractions like kerosene, diesel, and gasoline, is expected to rise as gasoline usage in the U.S. rises. Additionally, one of the major factors driving the development of the North American catalysts market is Mexico's expanding chemical and oil & gas industries.

Key Companies & Market Share Insights

The market for catalysts is highly competitive with the presence of a large number of independent small-scale and large-scale manufacturers and suppliers. While large-scale companies concentrate on mergers, expansions and product development, small-scale players primarily compete based on price.

Players are entering into mergers and partnerships so as to establish their position in the market. For instance, W. R. Grace & Co.-Conn. announced the completion of its acquisition of Rive Technology, Inc., an FCC catalysts manufacturer. The acquisition included all of the service offerings, employees, and technological assets, which were integrated into W.R Grace & Co. - Conn’s business model. This integration of technology allowed a better customer-centric product range to meet the growing catalysts demands from petrochemical and refining sectors. Some of the prominent players in the catalyst market include:

• Albemarle Corporation

• Haldor Topsoe A/S

• BASF SE

• Evonik Industries AG

• LyondellBasell Industries Holdings B.V.

• Arkema

• The Dow Chemical Company

• Haldor Topsoe A/S

• W. R. Grace & Co.-Conn.

• Johnson Matthey

• Axens

• Honeywell UOP

• Zeolyst International

• Clariant

• Umicore

• Exxon Mobil Corporation

Recent Devlopment

• In January 2023, Albemarle Corporation introduced Ketjen-a specialized brand offering tailored advanced catalyst solutions for petrochemical, refining, and specialty chemicals.

• In May 2023, Johnson Matthey (JM) and Hystar joined forces in a three-year strategic supply agreement to bolster renewable hydrogen production which involves the use of catalysts in the membrane electrode assemblies to drive the electrolysis process and produce renewable hydrogen.

• In September 2022, BASF SE unveiled a groundbreaking catalyst innovation, the X3DTM technology, harnessing the power of 3D printing in manufacturing. This cutting-edge technology enables the production of open-structure catalysts, effectively reducing pressure drop within the reactor and achieving a remarkably high surface area for enhanced performance.

• 2022年9月,巴斯夫SE推出CircleStar™,an exceptional dehydration catalyst specifically designed to process renewable feedstocks. This innovative catalyst operates at temperatures over 25°C lower than conventional processes, resulting in a significant reduction in the carbon footprint along the bio-ethylene value chain for a wide range of products, from jet fuel to plastics, by more than 10 percent

• In November 2021, Axens unveiled the latest addition, the P/PR 200 Series, to their esteemed Symphony® catalyst family. Through an extensive pilot testing program, this innovative series showcases enhanced activity, stability, and improved product selectivity compared to its predecessor, driving remarkable unit economics and granting increased operational flexibility for the valued partners

• In December 2021,ExxonMobil Chemical Companyrevealed the acquisition of California-based catalyst technology company, Materia, Inc. The strategic move aims to establish a new class of structural materials, leveraging groundbreaking catalyst discoveries made by professor Dr. Robert Grubbs, who pioneered a series of ruthenium catalyst technologies during the 1900s, promising unparalleled opportunities for commercial-scale applications

Catalyst Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 31.09 billion
Revenue forecast in 2030	USD 42.6 billion
Growth rate	CAGR of 4.6% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030
Quantitative units	Volume in kilotons, revenue in USD million/billion, and CAGR from 2023 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Raw material, product by application, region
Regional scope	North America; Europe; Asia Pacific; Central and South America; MEA
Country Scope	U.S.; Canada; Mexico; Germany; UK; France; Italy; Netherlands; Spain; Russia; China; India; Japan; South Korea; Australia; Indonesia; Malaysia; Brazil; South Arabia; South Africa
Key companies profiled	Albemarle Corporation; BASF SE; Evonik Industries AG; LyondellBasell Industries Holdings B.V.; Arkema; W. R. Grace & Co.-Conn.; W. R. Grace & Co.-Conn.; Johnson Matthey Plc; Axens SA; Clariant International Ltd.; ExxonMobil Corporation; Umicore
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
革命制度党cing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Global Catalyst Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global catalyst market report on the basis of raw material, product by application, and region:

• Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Chemical Compounds

    • Peroxides

    • Acids

    • Amines & Others

  • Metals

    • Precious Metals

    • Base Metals

  • Zeolites

  • Others

• Product by Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Heterogeneous Catalyst

    • Chemical Synthesis

      • Chemical Catalysts

      • Adsorbents

      • Syngas Production

      • Others

    • Petroleum Refining

      • FCC

      • Alkylation

      • Hydrotreating

      • Catalytic Reforming

      • Purification

      • Bed Grading

      • Others

    • Polymers And Petrochemicals

      • Ziegler Natta

      • Reaction Initiator

      • Chromium

      • Urethane

      • Solid Phosphorous Acid Catalyst

      • Others

    • Environmental

      • Light-duty vehicles

      • Motorcycles

      • Heavy-duty vehicles

      • Others

  • Homogeneous Catalyst

    • Chemical Synthesis

      • Chemical Catalysts

      • Adsorbents

      • Syngas Production

      • Others

    • Petroleum Refining

      • FCC

      • Alkylation

      • Hydrotreating

      • Catalytic Reforming

      • Bed Grading

      • Purification

      • Others

    • Polymers And Petrochemicals

      • Ziegler Natta

      • Reaction Initiator

      • Chromium

      • Urethane

      • Solid Phosphorous Acid catalyst

      • Others

    • Environmental

      • Light-duty Vehicles

      • Motorcycles

      • Heavy-duty Vehicles

      • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • The U.K.

    • France

    • Italy

    • Netherlands

    • Spain

    • Russia

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Indonesia

    • Malaysia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa

    • Saudi Arabia