Industrial Catalyst Market Analysis | 2024-2030

Market Insights

"The industrial catalyst market was estimated at USD 23.27 billion in 2023 and is likely to grow at a CAGR of 4.5% during 2024-2030 to reach USD 31.66 billion in 2030".

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Market Dynamics

Introduction

An industrial catalyst is a substance that speeds up the rate of a chemical reaction without itself being consumed in the reaction. Industrial catalysts are used in a wide variety of industries, including petroleum refining, petrochemical production, environmental protection, organic synthesis, and polymer processing.

Market Drivers

The growth of the market is being driven by a number of factors, such as

• Including the increasing demand for petroleum derivatives.
• The growing need for environmental protection.
• The rising demand for eco-friendly fuels.

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Key Players

The following are the key players in the industrial catalyst market:

• BASF SE
• Johnson Matthey PLC
• Albemarle Corporation
• Evonik Industries
• Clariant AG
• Honeywell International Inc.
• WR Grace and Co.
• Sumitomo Chemicals
• AkzoNobel NV

Segment Analysis

By Type

Based on the type, the Industrial Catalyst market is segmented into Heterogenous and Homogeneous. The dominant type of industrial catalyst in the market is heterogeneous catalysts. Heterogeneous catalysts are solids that are dispersed in a liquid or gas phase. They are the most widely used type of catalyst because they are relatively easy to manufacture and handle. They are also more stable than homogeneous catalysts, which makes them more suitable for use in industrial processes. The fastest-growing type of industrial catalyst is the homogeneous catalyst. Homogeneous catalysts are dissolved in the liquid or gas phase. They are becoming increasingly popular because they can be more selective than heterogeneous catalysts. This means that they can be used to produce more desired products and less waste.

By Material Type

Based on the material type, the market is segmented into Metal, Chemical, Zeolites, and Organometallic Materials. The dominant material used in industrial catalysts is metal. Metals are used in a wide variety of industrial processes, including petroleum refining, petrochemical production, and environmental protection. They are also used in the production of a variety of products, including fuels, plastics, and fertilizers. The fastest-growing material in the industrial catalyst market is organometallic materials. Organometallic materials are a combination of metal and organic compounds. They are becoming increasingly popular because they can be more selective than traditional metal catalysts. This means that they can be used to produce more desired products and less waste.

By Application Type

In terms of Applications, the market is segmented into Petroleum Refining, Chemical Synthesis, Petrochemicals, and Others. The dominant application of industrial catalysts is petroleum refining. Petroleum refining is the process of converting crude oil into a variety of products, including gasoline, diesel fuel, and jet fuel. Catalysts are used in several steps in the petroleum refining process, including cracking, reforming, and hydrotreating. The fastest-growing application of industrial catalysts is chemical synthesis. Chemical synthesis is the process of creating new chemicals from existing chemicals. Catalysts are used in several steps in the chemical synthesis process, including polymerization, hydrogenation, and oxidation.

Regional Insights

The dominant region in the industrial catalyst market is North America. North America is home to several major catalyst manufacturers, including BASF SE, Johnson Matthey PLC, and Albemarle Corporation. The region also has a strong demand for industrial catalysts, driven by the oil & gas industry. The fastest-growing region in the industrial catalyst market is Asia-Pacific. Asia-Pacific is home to several emerging economies, such as China and India, which are experiencing rapid growth in their industrial sectors. The region is also home to several new catalyst manufacturers, which are driving innovation in the market.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s industrial catalyst market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com