Catalyst Market Forecast Assessment Report Till 2027

Catalyst Industry Overview

The global catalyst market size is expected to reach USD 48.0 billion by 2027, expanding at a CAGR of 4.4%, as per a new report by Grand View Research Inc. Increasing the manufacturing of polymers is projected to play a vital role in the growth of the market. In addition, the presence of regulations supporting the manufacturing and use of catalysts is expected to augment market growth over the next eight years.

U.S. catalyst market size

Catalyst Market Segmentation

Grand View Research has segmented the global catalyst market on the basis of raw material, product by application, and region:

Based on the Raw Material Insights, the market is segmented into Chemical compounds, Metals, Zeolites, and Others

  • Chemical compounds emerged as the dominant raw material segment of the market representing a value share of 38.3% in 2019. Chemical compounds such as sulfuric acid, hydrofluoric acid, and calcium carbonateare used as catalyst raw materials for numerous applications in chemical, petrochemical, and polymer industries.
  • Metals used for dehydrogenation and hydrogenation are noble metals (platinum, palladium, ruthenium, rhodium, gold, and copper), non-noble metals (tungsten and molybdenum), and others such as nickel and cobalt are also used as key catalyst raw materials. These metals accelerate the process of breaking and re-arranging the aromatics and olefins to produce fractions such as alkanes and naphthenes.
  • Besides metals and chemical compounds, zeolites are another type of prominent raw material used in catalysts that are majorly used in catalyzing and adsorbent applications owing to their porosity and large surface area. Zeolites can accommodate a diversity of ions supported by their porous structure. These are obtained naturally and can also be manufactured commercially from crystallization reactions.

Based on the Product Insights, the market is segmented into Heterogeneous Catalyst, and Homogeneous Catalyst

  • Heterogeneous catalysts emerged as the prominent product segment of the market with a value share of 72.1% in 2019. Homogeneous catalysts are converted into heterogeneous catalysts via solid supports to reduce their toxicity.
  • The benefits of heterogeneous catalyst application include economical usage, simple separation of catalyst from products, and ease of application, which are likely to drive the segment. 
  • Homogeneous catalysts include products such as boric acid, phosphoric acid, hydrochloric acid, p-toluenesulfonic acid, and sulfuric acid. These catalysts are reported to show better performance in industrial and raw material reactions compared to their heterogeneous counterparts.

Catalyst Market Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Key manufacturers of the product including Albemarle Corporation and Johnson Matthey Plc hold significant market share in terms of segmental revenue. These players have global operations and diversified product portfolios.

Some of the prominent players in the catalyst market include:

  • Albemarle Corporation
  • Haldor Topsoe A/S
  • Evonik Industries AG
  • LyondellBasell Industries Holdings B.V.

Order a free sample PDF of the Catalyst Market Intelligence Study, published by Grand View Research.

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