The Industrial Catalyst Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Industrial Catalyst Global Market Report 2024, The industrial catalyst market size has grown strongly in recent years. It will grow from $24.05 billion in 2023 to $25.47 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to industrialization and manufacturing growth, advancements in chemical processes, increasing environmental regulations, expansion of petrochemical and refining industries, demand for cleaner and more efficient production processes.
The industrial catalyst market size is expected to see steady growth in the next few years. It will grow to $30.59 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to growing demand for sustainable and green chemistry solutions, expansion of the pharmaceutical and biotechnology industries, development of renewable energy technologies, increasing focus on hydrogen economy and fuel cell technology, emergence of new applications in emerging markets. Major trends in the forecast period include adoption of catalytic converters for emissions control in automotive and industrial sectors, development of catalysts for carbon capture and utilization, utilization of catalysts for bio-based plastics production,integration of nanotechnology in catalyst design and development, emphasis on circular economy principles in catalyst recycling and reusability.
The growing expansion of the petroleum industry is expected to propel the growth of the industrial catalyst market going forward. The petroleum industry, or the oil and gas industry, encompasses the exploration, extraction, refining, and marketing of petroleum products. Catalysts are essential in hydroprocessing units, involving hydrotreating to remove sulfur and nitrogen impurities from crude oil fractions for improved, refined product quality and hydrocracking, breaking down heavy hydrocarbons into lighter ones to increase the yield of valuable products. For instance, in August 2023, according to a report published by the International Energy Agency, a France-based intergovernmental organization, between 2022 and 2028, global oil demand was projected to increase by 6%, reaching 105.7 million barrels per day, driven by strong demand from the petrochemical and aviation sectors. Further, the upstream investments in oil and gas exploration, extraction, and production are expected to reach their peak in 2023, with a year-on-year growth of 11% to USD 528 billion. Therefore, the growing expansion of the petroleum industry is driving the growth of the industrial catalyst market.
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The industrial catalyst market covered in this report is segmented –
1) By Type: Heterogeneous Catalysts, Homogeneous Catalysts, Biocatalysts
2) By Material: Metal, Chemical, Zeolites, Organometallic
3) By Application: Petroleum Refinery, Chemical Manufacturing, Petrochemicals, Food Processing, Automotive and Transportation, Other applications
Major companies operating in the industrial catalyst market are developing advanced technologies, such as additive manufacturing technologies, to better serve customers with advanced features. Additive manufacturing technology, also known as 3D printing, refers to a process of creating three-dimensional objects by layering or sequentially adding material. For instance, in September 2022, BASF SE, a Germany-based manufacturer of industrial catalysts, launched the X3D technology. The unique feature of the X3D technology in additive manufacturing for catalysts lies in its capacity for 3D printing. Catalysts created using this technology exhibit an open structure, leading to a reduced pressure drop across the reactor and a substantial increase in surface area, thereby enhancing catalyst performance. BASF, equipped with the capability to provide commercial quantities, offers greater flexibility in catalyst design compared to traditional production methods. This technology takes catalyst performance to new heights, allowing customization based on specific customer conditions and needs, involving the design of infill patterns, fiber diameter, and orientation. The X3D technology empowers customers to achieve heightened reactor output, superior product quality, and lower energy consumption.
The industrial catalyst market report table of contents includes:
- Executive Summary
- Industrial Catalyst Market Characteristics
- Industrial Catalyst Market Trends And Strategies
- Industrial Catalyst Market - Macro Economic Scenario
- Global Industrial Catalyst Market Size and Growth
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- Global Industrial Catalyst Market Competitive Benchmarking
- Global Industrial Catalyst Market Competitive Dashboard
- Key Mergers And Acquisitions In Industrial Catalyst Market
- Industrial Catalyst Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Sinopec
- BASF SE
- The DOW Chemicals Company
- Lyondellbasell Industries Holdings B.V.
- Honeywell International Inc.
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Industrial Catalyst Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2019-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Industrial Catalyst include ExxonMobil Chemical Co., Evonik Industries AG, E.I DU Pont de Nemours & Company, Arkema SA, and Chevron Philips Chemical Company..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Industrial Catalyst Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/industrial-catalyst-market/download-sampleMarket SegmentationThe broad Industrial Catalyst has been sub-grouped into Application and Region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
The Global Industrial Catalyst Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.Industrial catalyst refers to catalysts used in industries for chemical synthesis and refining.
Catalysts are chemical agents which help in speeding up chemical process without undergoing any change in themselves.
Industrial catalyst play a significant role in increasing the efficiency of industrial process, produce high quality refined fuel and help in maintain ecological balance through clean fuels.
Industrial catalyst finds application in various industries including chemical, refining, petrochemical and others.
High demand for fuel and increased refining activities in major economies like China and India surge the growth of this market in Asia Pacific region.
