The expansion of the automotive sector and increasing consumption of fuels, the rising production cost of petroleum derivatives through syngas, and the expansion of the chemical industry are boosting the Industrial Catalyst market. 

Industrial Catalyst Market Size – USD 19.00 Billion in 2019, Growth - CAGR of 4.0%, Trends – The rising demand for industrial catalyst for manufacturing ecofriendly fuels  

The Global Industrial Catalyst market is forecast to reach USD 26.48 Billion by 2027, according to a new report by Reports and Data. The increasing demand for eco-friendly fuels is boosting the growth of the sector. The underlying reason being, with increasing demand for eco-friendly fuels, there has been a growing demand for this catalyst due to its effectiveness in promoting clean fuel, enhancing operational efficiency and addressing fuel standards. Furthermore, there has been growing emphasis on industrial research and expansion of chemical industries, which is also acting as a driving factor for the market growth, wherein this catalyst is used as an accelerating element between two chemical reactions and involves less energy for activation. In various sectors ranging from automotive industry, petrochemical industries, chemical industries, among others, it finds application for emission control.    

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Top Companies: BASF SE, Albemarle Corporation, Akzonobel N.V., Exxon Mobil Chemical Corporation, Arkema SA, Chevron Phillips Chemical Company, Evonik Industries AG, The DOW Chemical Company, Clariant AG and I. Du Pont De Nemours and Company (Dupont).

Further Key Finding from the Report Suggestion:

  • In regards to Type, the Heterogeneous Catalyst segment held a significance share of more than 60.0% the in 2019. The market share held by the Heterogeneous Catalyst segment is attributed to various advantages associated with it like ease of separation, reusable and stable, which results in its wide preference among end-users.   
  • In context to Raw Material, the Metal segment held a considerable share of the market of more than 35.0% in 2019. The market share held by the Metal segment is attributed the elevated application of metal like CO-Metal when managing CO and catalyst.
  • In context to Application, the Petroleum Refinery segment held a considerable share of the market of 35.0% in 2019. The market share held by the Petroleum Refinery segment is attributed to continuous expansion of the automotive sector, rising demand for fuel and elevating refining capacity expansion which is contributing to the market share held by this segment.   
  • In December 2017, BASF had made an investment in Ṥroda ṤlÄ…ska, Polan, wherein the aim of the investment was expanding mobile emissions catalysts site. It aims at providing innovative catalysts solutions for supporting users to meet stringent emission regulation standards.
  • In March 2017, BASF Catalysts India Private Limited inaugurated mobile emissions catalysts manufacturing site. The site was launched in Chennai, India. The focus of the expansion of upgrading production capacities of the company to support local automakers meet stricter government emissions standards.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

Download Summary:

The global Industrial Catalyst market is segmented into:

Dilution Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

  • Homogeneous Catalyst
  • Heterogeneous Catalyst
  • Biocatalysts

Raw Materials Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

  • Chemicals
  • Metals
  • Organometallic Material
  • Zeolites

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

  • Chemical Synthesis
  • Petroleum Refinery
  • Petrochemicals
  • Others

End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

  • Oil and Gas Industry
  • Chemical Industry
  • Automotive and Transportation Industry
  • Energy Industry
  • Manufacturing Industry
  • Pharmaceutical and Medical Industry
  • Plastics and Polymer Industry
  • Pharmaceutical and Medical Industry
  • Agricultural Industry
  • Pharmaceutical and Medical Industry
  • Others

Regional Outlook:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market?
  • What kind of strategic business plans have they made?

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