Catalyst Market Set to Experience a Promising Growth, to Sustain a CAGR of 4.2% During 2022-2032 | Market.us Report

According to Market.us, Asia Pacific dominated the Catalyst Market in 2022, accounting for the highest revenue share of 33.7%, driven by China's significant percentage of chemical and plastics production companies.


New York, April 04, 2023 (GLOBE NEWSWIRE) -- The global catalyst market size was valued at USD 24.4 Bn in 2022, and it is expected to grow to USD 36.4 Bn in the forecast period 2023-2032 with an anticipated CAGR of 4.2%. Catalysts are chemical substances used to speed up chemical reactions and by alteration of activation energy. Different catalysts are widely available in the market, including zeolites, metals, substances, enzymes, and organometallic materials.

Catalyst Market

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Key Takeaway:

  • By Raw Materials, the chemical compounds segment generated a revenue share of 38.3% in 2022.
  • By Product, the heterogeneous catalyst segment has dominated the market with the largest share of 72.1%, and it is growing at the highest CAGR over the forecast period 2023 to 2032.
  • By Application, the chemical synthesis segment was dominant in the market, with the largest market share of 26.3% in 2022.
  • In 2022, Asia Pacific dominated the market with the highest revenue share of 33.7%.
  • North America will grow at a significant CAGR from 2023-2032.

Industrial catalysts are generally made of metals because they can use the free electrons in the valence electrons of most metals to speed up reactions.

Factors affecting the growth of the catalyst market

Several factors can affect the growth of the catalyst market. Some of these factors include:

  • Increasing use in the refining industry: Catalysts have significant applications such as the conversion of heavy oils into distillable, and valuable products. A catalyst such as Nickel is used in the commercial hydrogenation of edible oils.
  • Growing applications in car exhaust: Catalytic converters in car exhausts help to reduce airborne pollutants that harm the environment and individual’s health.
  • Increasing use in food production: Catalysts such as enzymes are traditionally used in food production. The use of enzymes in the food industry allows the production of high-quality food products, food safety, and security, due to this catalyst having high demand in food industries.
  • High demand in the pharmaceutical industry: Catalyst plays important role in pharma industries to convert functional groups of given molecules into new molecules to produce new starting material for further synthetic steps.

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Top Trends in Global Catalyst Market

The increasing expansion of petroleum industries has surged the demand for catalysts in refining processes for secure, fast, and effective refining to fulfill market demand. Increasing utilization of exhaust systems in cars and governmental laws to control outflow, catalysts are used in exhaust systems which drive the demand in the market.

Also, companies are expanding their research and development facilities to increase catalyst production at a low cost.  There are some current trends in the global catalyst market. Manufacturers looking to improve their feedstock or refine it by producing value-added petrochemicals, such as polyolefin or methane, have increased the need for catalysts in petrochemicals, the chemical sectors, and in chemical applications.

Market Growth

Catalyst Market companies are focusing on heterogeneous metal catalysts, which can overcome the drawbacks of homogeneous counterparts and increase product yields while reducing side reactions. These are the main market growth factor for the catalyst market.

An important step towards less expensive catalysts for the production of energy has surged demand for hydrogen production from water by using graphene doped with nitrogen and cobalt. These elements increased the demand for the catalyst, which is the main factor for the expansion of the global catalyst market.

Regional Analysis

The catalyst market was dominated by Asia Pacific, which acquired the most significant revenue share of 33.7% in 2022, owing to China’s dominance in the automotive, petrochemical, and polymer industries. China has an extensive percentage of chemical and plastics production companies. It has become a leading manufacturing destination for chemical products and petrochemicals due to rising domestic demand and low manufacturing costs compared to the US. and European Union countries. Increasing FDI investments in the Asia Pacific are anticipated to offer lucrative growth opportunities in the market.

North America is anticipated to grow at the fastest CAGR during the forecast period owing to evolving low-sulfur and automotive mandates that require environmental catalysts. The rising demand for catalysts to transform heavy crude oil into lighter fractions like gasoline, diesel, and kerosene is expected to increase the demand for catalysts in this market. The development of Mexico’s oil, gas, and chemical industries also influences the market growth in North America.

There are lucrative opportunities for petroleum refining catalysts in Africa and the Middle East region due to their dominance in Oman and Kuwait, as well as Saudi Arabia, Oman, and Qatar.

Competitive Landscape

The rising investments by market players will open new opportunities in the global catalyst market. Some of the major players include CIECH SA, Ciner Group Resources Corporation, Genesis Energy L.P., GHCL Limited, Lianyungang Soda Ash Co. Ltd, NIRMA LIMITED, Sisecam Group, Solvay S.A, Shandong Haihua Group Co. Ltd, Tata Chemicals Limited, FMC Corporation, Novacap Group, DCW Limited, OCI COMPANY Ltd., Tronox limited, SEQENS Group, IMARC Group, and Other Key Players.

Recent Development of the Catalyst Market

  • In September 2020, Clariant announced the construction of a new catalyst production site in China.
  • In May 2021, BASF SE announced its plan to expand projects at Platinum Group Metals(PGM).

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Scope of the Report

Report AttributeDetails
Market Value (2022)USD 24.4 Billion
Market Size (2032)USD 36.4 Billion
CAGR (from 2023 to 2032)4.2%
Asia Pacific Revenue Share33.7%
Historic Period2016 to 2022
Base Year2022
Forecast Year2023 to 2032

Market Drivers

The demand for catalysts is increasing due to applications in industrial processes such as chemical synthesis, and petroleum refinery drives the need for catalysts in the process of optimization and yield improvement. Ecological catalysts can help manufacturers to comply with all mandates regarding NOx and Sox, as well as carbon dioxide emissions which are driving the demand for catalysts in the global market. Shifting trends toward alternative renewable fuels such as biodiesel, shale gas, and diesel fuel boosts the demand for the catalysts market.

Market Restraints

High costs of production and processing costs are some of the major restraints on the growth of the global catalyst market. Technological advancements in fields like chemical synthesis also have a negative impact on market growth.

Market Opportunities

The rising use of catalysts in different areas like oil refining, polymers and petrochemicals, and biological applications for process streamlining, yield improvement, cost-cutting, and energy-saving is expected to create lucrative growth opportunities in the market.

Catalyst plays an important role in producing clean fuels, converting raw materials into essential energies, and controlling NOx production. The reduction of greenhouse gas is the most important benefit of catalysts to the environment, which is expected to offer significant growth opportunities in the market.

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Report Segmentation of the Catalyst Market

Raw Material Insight

Based on raw materials, the chemical compounds segment was dominant in the market, with the largest market revenue share of 38.3% in 2022, and is anticipated to remain dominant in the market during the forecast period. The applications of sulphuric acid, calcium carbonate, and hydrofluoric acid as catalyst raw material for chemical, petrochemical, and polymer industries is the main growth factor of this segment.

Product Insight

Based on product, the heterogeneous segment was dominant in this market with the largest market share of 72.1% in 2022 and is anticipated to remain dominant in the market during the forecast period. The growth of the segment is propelled by benefits such as ease to use and cost-effectiveness. Heterogeneous catalysts are made from homogeneous materials using solid supports. Sulfated zirconia is a common example of a heterogeneous catalyst.

Application Insight

Based on application, the chemical synthesis segment was dominant in the market with the largest market share of 26.3% in 2022, and is anticipated to remain dominant in the market during the forecast period. The chemical synthesis process covers raw materials and chemical industries. The growth of the segment is attributed to the superior properties of catalysts, such as exceptional functional groups and low costs.

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Market Segmentation

Based on Raw Material

  • Chemical Compounds
  • Metals
  • Zeolites
  • Others

Based On Product

  • Heterogeneous
  • Homogeneous

Based On Application

  • Petroleum Refining
  • Chemical Synthesis
  • Environmental
  • Polymers and Petrochemicals

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Key Market Players

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