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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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