Dublin, Nov. 21, 2024 (GLOBE NEWSWIRE) -- The "Homogeneous Precious Metal Catalyst Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
This Homogeneous Precious Metal Catalyst market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. Asia-Pacific was the largest region in the homogeneous precious metal catalyst market in 2023.
The global homogeneous precious metal catalyst market size has grown rapidly in recent years. It will grow from $2.36 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historical period can be attributed to key factors such as the industrial revolution, advancements in chemical engineering, the discovery of catalytic properties of metals, the development of the automotive industry, environmental regulations, and increasing demand for cleaner fuels.
The global homogeneous precious metal catalyst market size is expected to see rapid growth in the next few years. It will grow to $4.22 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be linked to a heightened emphasis on sustainability, the expansion of chemical and petrochemical industries, the adoption of green chemistry practices, increased investments in research and development, and the emergence of new applications.
Major trends anticipated in this period include technological innovations, greater utilization of renewable feedstocks, a shift towards environmentally friendly catalytic processes, the advancement of bi-functional and multi-functional catalysts, integration of nanotechnology in catalyst design, and a strong focus on process intensification.
The expanding pharmaceutical industry is poised to drive growth in the homogeneous precious metal catalyst market. Factors contributing to its growth include advancements in medical research and technology, an aging global population, increased prevalence of chronic diseases, rising healthcare expenditure, and improved healthcare accessibility in developing regions. Homogeneous precious metal catalysts play a critical role in this sector by facilitating essential chemical reactions needed for synthesizing complex organic molecules and active pharmaceutical ingredients (APIs). For example, the European pharmaceutical industry's production rose from €323 billion ($349 billion) in 2021 to €340 billion ($367 billion) in 2022, according to the European Federation of Pharmaceutical Industries and Associations, indicating significant market expansion driven by these catalysts.
Leading firms in the homogeneous precious metal catalyst market are leveraging innovative technologies such as additive manufacturing to maintain their competitive edge. Additive manufacturing enables advancements such as BASF SE's X3D technology. Introduced in September 2022, this technology allows for the production of uniform catalysts with precise shapes, ensuring consistent performance across diverse applications. It enables the integration of multiple active components within a single catalyst particle, enhancing catalytic efficiency through synergistic effects. Moreover, additive manufacturing offers greater flexibility in catalyst design compared to traditional methods, facilitating customization to meet specific customer needs by adjusting parameters such as infill pattern, fiber diameter, and orientation. This capability supports increased reactor output, improved product quality, and reduced energy consumption.
Research Scope
Markets Covered:
1) By Product: Platinum; Palladium; Rhodium; Ruthenium; Iridium; Gold; Other Products
2) By Solvent: Polar Protic Solvents; Polar Aprotic Solvents; Nonpolar Solvents; Other Solvents
3) By Application: Refineries; Pharmaceutical And Biomedical; Power Generation; Agrochemicals; Electrochemical; Other Applications
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Companies Profiled in this Homogeneous Precious Metal Catalyst Market Report: BASF SE; Heraeus Group; Johnson Matthey plc; Solvay SA; Evonik Industries AG
Other major companies profiled in the report include:
- Clariant International Ltd.
- Umicore SA
- Nippon Shokubai Co. Ltd.
- Tanaka Holdings Co. Ltd.
- Sabin Metal Corporation
- Metalor Technologies SA
- Strem Chemicals Inc.
- American Elements Corp.
- DCL International Inc.
- Shaanxi Sirui Advanced Materials Co. Ltd.
- Chempur GmbH
- Sinocompound Catalysts Co. Ltd.
- Fine Chemicals Corporation (Pty) Ltd.
- Materion Corporation
- Kaili Catalyst New Materials Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/nqohc8
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
