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The global industrial catalyst market size reached US$ 21.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 27.9 Billion by 2027, exhibiting a CAGR of 4.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A catalyst refers to a substance that improves the rate of a chemical reaction without undergoing any physical or chemical change. It enhances chemical processes and minimizes waste, production time, energy consumption, and operational cost. It assists in enhancing the air quality by controlling emissions, mitigating volatile organic compounds (VOCs), formulating improved oil fractions, including natural gas, biodiesel, and propane, and synthesizing active compounds and intermediates. As a result, industrial catalysts are widely used in petroleum refining, petrochemical production, environment protection reactions, organic synthesis, polymer processing, and bulk chemical synthesis.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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The growing expansion of the petroleum industry is resulting in the rising establishment of petrol refining capacities and the need for various chemical products and eco-friendly fuels. This, in turn, is positively influencing the market. In addition, the escalating demand for petroleum-based products from power generation plants is expanding the applications of industrial catalysts in petroleum refining and petrochemical plants for a convenient, quicker, safer, and more efficient production process. Apart from this, the rising use of catalytic converters in automobile manufacturing emission control systems is offering lucrative growth opportunities to industry investors. This can also be attributed to increasing environmental concerns and the implementation of stringent government regulations for controlling emission levels. Furthermore, the development of nano-catalysts that assist in enhancing catalytic procedures in the pharmaceutical and food and beverage (F&B) industries are creating a positive market outlook. Moreover, strategic collaborations amongst leading industry players to expand their global market reach, along with increasing investments in research and development (R&D) activities to enhance catalysts efficiency while minimizing operational costs, are impelling the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial catalyst market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on type, raw material, and application.
Breakup by Type:
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Heterogeneous catalysts exhibit a clear dominance in the market due to their robustness and lower operational cost.
Breakup by Raw Material:
Mixed catalysts account for the majority of the global industrial catalyst market share as they are extensively used in the production of selective oxidation catalysts, hydrogen, and electrocatalysis for solid oxide fuel cells.
Breakup by Application:
Petroleum refineries presently hold the largest market share due to the increasing demand for petroleum products across the globe.
Regional Insights:
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The Asia Pacific currently enjoys the leading position in the market due to the significant rise in petroleum refining and the increasing use of catalysts in various industries.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Albemarle Corporation, Arkema S.A., BASF SE, Clariant AG, Evonik Industries AG, Exxon Mobil Chemical Co, Akzo Nobel N.V., Chevron Phillips Chemical Company, LLC, and The DOW Chemical Company.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Type, Raw Material, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Albemarle Corporation, Arkema S.A., BASF Corporation, Clariant AG, Evonik Industries AG, Exxon Mobil Chemical Corporation, Akzo Nobel N.V., Chevron Phillips Chemical Company and The DOW Chemical Company |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global industrial catalyst market was valued at US$ 21.6 Billion in 2021.
We expect the global industrial catalyst market to exhibit a CAGR of 4.5% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of various end-use industries for industrial catalysts.
The rising application of industrial catalysts in petroleum refining and petrochemical plants for a convenient, quicker, safer, and more efficient production process, is primarily driving the global industrial catalyst market.
Based on the type, the global industrial catalyst market can be categorized into heterogeneous catalysts, homogeneous catalysts, and biocatalysts. Currently, heterogeneous catalysts account for the majority of the global market share.
Based on the raw material, the global industrial catalyst market has been segregated into mixed, oxide, metallic, sulfide, and organometallic. Among these, mixed catalysts currently hold the largest market share.
Based on the application, the global industrial catalyst market can be bifurcated into petroleum refinery, chemical synthesis, petrochemicals, and others. Currently, petroleum refinery exhibits a clear dominance in the market.
On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global industrial catalyst market include Albemarle Corporation, Arkema S.A., BASF SE, Clariant AG, Evonik Industries AG, Exxon Mobil Chemical Co, Akzo Nobel N.V., Chevron Phillips Chemical Company, LLC, and The DOW Chemical Company.
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