The global industrial catalyst market reached a value of US$ 21.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 27.9 Billion by 2027, exhibiting a CAGR of 4.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Catalysts are substances that are utilized in large quantities for accelerating chemical reactions between two substances without undergoing physical or chemical changes themselves. They enhance chemical processes and minimize cost and energy usage. Apart from this, they assist in the production of improved oil fractions for clean fuels, such as biodiesel, ethanol, natural gas and propane. As a result, they find a wide range of applications, including petrochemical production, petroleum refining, polymer processing, environment protection reactions, and synthesis of bulk chemicals. Industrial Catalyst Industry Trends:
Catalysts are employed in the petroleum industry for improving product yields as most of the processes undertaken in refineries are catalytic in nature. With the escalating demand for petroleum-based products, especially from the industrial and power generation sectors, the market is currently experiencing steady growth. Apart from this, there is an increase in the manufacturing of catalytic converters that are utilized in the emission control system of automobiles to minimize toxic emissions. This can be accredited to the growing environmental concerns, in confluence with the implementation of stringent regulations by governing agencies of numerous countries. Furthermore, the burgeoning automotive industry is also fueling the growth of the industrial catalyst market growth. Moreover, there has been a rise in the demand for nano-catalysts that help in improving the catalytic process in the pharmaceuticals and food processing industries across the globe.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial catalyst market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on type, raw material and application.
Breakup by Type: Heterogeneous Catalysts
Heterogeneous catalysts exhibit a clear dominance in the market.
Breakup by Raw Material:
Mixed catalysts account for the majority of the total market share.
Breakup by Application:
At present, petroleum refineries hold the largest market share.
Middle East and Africa
Asia Pacific currently enjoys the leading position in the market.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Albemarle Corporation, Arkema S.A., BASF Corporation, Clariant AG, Evonik Industries AG, Exxon Mobil Chemical Corporation, Akzo Nobel N.V., Chevron Phillips Chemical Company and The DOW Chemical Company. Key Questions Answered in This Report:
How has the global industrial catalyst market performed so far and how will it perform in the coming years?
What are the key regions in the industry?
What has been the impact of COVID-19 on the global industrial catalyst market?
What are the key application segments in the industry?
What are the key raw material types in the industry?
Which are the popular types in the industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the market and who are the key players?
What is the degree of competition in the industry?
How are industrial catalysts manufactured?
What are the import and export trends of industrial catalysts?