Catalyst Market Size, Share & Trends Report

Catalyst Market Size, Share & Trends Analysis Report By Raw Material (Metal, Chemical Compounds), By Product (Heterogeneous, Homogeneous), By Application (Polymers & Petrochemicals, Environmental), And Segment Forecasts, 2019 - 2025

  • Published Date: Feb, 2019
  • Base Year for Estimate: 2016
  • Report ID: 978-1-68038-228-0
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 300

Industry Insights

The global catalyst market size was valued at USD 23.08 billion in 2016 and is projected to register a CAGR of 4.5% during the forecast period. This growth can be attributed to increasing demand for catalytic reforming process in the downstream oil & gas sector since catalysts improve yield of light cut oils including gasoline, high-speed diesel, and superior kerosene oil. Strict regulations about the usage of major emission control catalyst systems in the petroleum and petrochemical industries by European Catalyst Manufacturers Association (ECMA) due to increasing sulfur and NOx emissions are projected to boost market growth.

In addition, the emission control segment is anticipated to grow in tandem with the automotive and energy segments in Asia Pacific, as rising automotive sales and escalating demand for power add to the need for emission control products. Rising expenditure for the production of petroleum derivatives through syngas is likely to promote the usage of catalysts in the near future. Fluctuating prices of raw materials, particularly zeolite and precious metals, due to their increasing demand in other applications like automotive and construction is expected to result in limited product supply to the manufacturers.

U.S. catalyst market

As a result, this trend will lead to increased prices of the product, which, in turn, is likely to hamper the industry growth. Moreover, the emergence of biocatalysts on account of increasing R & D spending in the healthcare sector is expected to open new avenues. The U.S. chemical industry is likely to expand at a fast pace due to increasing demand from several end-use sectors, thereby augmenting the market growth. In contrast, the European chemical industry is facing major challenges as value chain is increasingly moving eastward, drawn by economic growth and market opportunities in Asia.

However, Europe has been recovering from the economic slowdown, especially in the automotive and construction sector, which is expected to boost the chemical market in the region. This will boost the catalyst industry during the forecast period. Growing demand for diesel-powered vehicles is expected to drive a shift in the refinery catalyst product mix as refiners will be forced to turn to hydrocracking and Fluid Catalytic Cracking (FCC) processes that are capable of producing a larger volume of high-value refined products.

Efforts by various developing countries, such as India and China, to curb air pollution by the reduction of fuel sulfur levels will help stimulate the demand for hydrotreating products. Demand for the product in petroleum refining industry is also expected to grow due to increasing volume of refinery market output in Africa, Middle East, and Asia Pacific regions. Escalating demand from refineries was one of the major drivers for the product during the past five years and the trend is anticipated to continue over the forecast period.

Raw Material Insights

In terms of revenue, the zeolite segment was valued at USD 4.01 billion in 2016 and is expected to record a healthy CAGR from 2017 to 2025. Rising importance of FCC for converting high molecular weight hydrocarbons into light cuts, such as gasoline and diesel, is expected to fuel the demand for zeolites. Refinery expansion in Middle East and India on account of supportive government policy is expected to propel FCC and hydrocracking, thereby boosting the overall market development. The metal segment is expected to witness a strong growth during the projected period.

Growing importance of organic synthesis on account of high complexity than its inorganic counter processes in oil & gas industry is expected to fuel demand for products, such as platinum, gold, rhodium, and iridium. Growing production of the aforementioned metals in emerging economies like Chile, China, and South Africa on account of favorable regulatory support for FDI in mineral production is expected to ensure the raw material supply. However, high demand for these metals in other applications is expected to restrict the availability and may challenge market growth.

Chemical compound segment is also likely to witness. Lower prices of chemical compounds than zeolites, metals, and enzymes are expected to have a positive impact on the segment growth. In addition, low manufacturing cost and wide scope of application of chemicals in emerging markets of China and India are expected to ensure raw material supply for chemical catalysts production. The government of India has framed Draft National Chemical Policy, intended to increase the domestic chemical production output from 3% to 6% by 2020. This policy is expected to attract new foreign investments in the segment over the forecast period.

Product Insights

Heterogeneous catalyst was the majorly segment in 2016. Vast application scope of these products in chemical, polymer, petrochemicals, and automobile industries is expected to drive the market in near future. These products are majorly used in the form of iron in Haber process for the production of ammonia. Growing production of ammonia as fertilizers on account of new product development, such as nitrogenous fertilizers, coupled with growing agriculture industry in India and China is expected to fuel segment development over the forecast period.

In addition, rising importance of ammonia as an alternative to CFC compounds in refrigeration applications is expected to augment the segment growth further. Homogeneous is anticipated to be the fastest-growing product segment during the estimated period. Growing F & B industry in China, India, Brazil, and Saudi Arabia on coupled with favorable support toward increasing the domestic output is expected to fuel the segment growth in near future. Moreover, demand for biofuels owing to favorable regulatory support is expected to augment enzymes market growth as homogeneous products in the coming years.

Application Insights

The petroleum refining segment is expected to register a CAGR of 3.4% from 2017 to 2025. A catalyst promotes the removal of a negatively charged hydride ion from a paraffin compound or the addition of a positively charged proTon to an olefin compound. This enables cracking into several small compounds. Volatility in crude oil price coupled with decreasing dependence on petroleum refineries owing to adverse environmental effects is the key factor responsible for below-average growth of this application.

Global catalyst market

Asia Pacific refining segment is expected to increase on account of rising demand for automobiles in the region. Catalysts are increasingly being used in chemical synthesis on account of superior characteristics including high stability, activation of alkenes and alkynes and promoting regio-, diastereo-, and enantioselective processes. Furthermore, they possess exceptional functional group tolerance, are cost competitive, and do not require additional ligands.

Regional Insights

Asia Pacific accounted for 32.8% share of the market revenues in 2016. The market in this region relies on development of the chemical industry, primarily in developing economies like China and India. Growing production of ammonia as fertilizers on account of new product development, such as nitrogenous fertilizers, coupled with agriculture industry growth in India and China is expected to fuel product demand over the forecast period.North America is expected to witness a slow growth over the forecast period owing to shifting interest of manufacturers toward competitive regions that have abundant of raw material and low-cost labor.

Growing product demand in environmental applications across various commercial sectors, such as automotive and industrial processes, is expected to have a positive impact on the industry. Increasing investments in the refinery industry to produce novel and high-quality products is expected to drive demand for various refinery catalysts in coming years. High investments by the petroleum refinery manufacturers in new product R & D is expected to open new avenues for applications, such as hydro-cracking, hydro-treating, and catalytic reforming.

Europe is expected to witness high demand for product as it  has several advantages, such as reduction of environmental emissions, production cost optimization, and higher chemical process efficiencies. Moreover, focus on inorganic products containing metals and metal oxides based on nickel, chromium, cobalt, and titanium due to their increasing use in industrial applications like fine chemicals, refinery operations, edible oils, pharmaceuticals, and polymers will support regional growth.

Catalyst Market Share Insights

Key companies in the market include BASF SE; Akzo Nobel N.V.; Clariant International Ltd.; Zeolyst International, Inc.; Chevron Corporation; Johnson Matthey Process Technologies; W.R. Grace and Co.; Albemarle Corporation; Evonik Industries AG; and E. I. du Pont de Nemours and Company. Capacity expansion, technology licensing, and mergers & acquisitions are the key strategies undertaken by most of these firms. In July 2014, Johnson Matthey Process Technologies established a new production site in Brazil for the manufacturing of catalyst for captive hydrogen production in the refining sector. This initiative ensures product supply to refining companies in Latin America.

In June 2014, Ineos Technologies licensed its Innovene S process to Hyundai Engineering Co., Ltd. for Turkmengas’ new greenfield world-scale petrochemical complex in the Balkan Region of Turkmenistan. In 2012, Evonik and BioAmber collaborated on catalysts for sustainable chemicals made from bio-based succinic acid. This partnership supported the growth of resource efficiency by means of optimizing new catalyst needs and developing new generation products with minimum strain on the environment. In September 2014, Johnson Matthey purchased the business and assets of Catacel Corporation, a supplier of novel technology centered on the use of metal foil coated catalysts and sorbents to a range of process industries.

Report Scope

Attributes

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Volume in KiloTons; Revenue in USD Million, and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central and South America, and Middle East & Africa

Country scope

U.S., Canada, Mexico, U.K., Germany, France, Italy, Netherlands, Spain, Russia, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Brazil, South Africa, and Saudi Arabia

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report:

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global catalyst market report on the basis of raw material, product, application, and region:

  • Raw Material Outlook (Volume, KiloTons; Revenue, USD Million, 2014 - 2025)

    • Zeolites

    • Metals

      • Base Metals

      • Precious metals

    • Chemical Compounds

      • Peroxides

      • Acids

      • Amines & Others

    • Others

  • Product Outlook (Volume, KiloTons; Revenue, USD Million, 2014 - 2025)

    • Heterogeneous

    • Homogeneous

  • Application Outlook (Volume, KiloTons; Revenue, USD Million, 2014 - 2025)

    • Petroleum Refining

      • FCC

      • Alkylation

      • Hydrotreating

      • Hydrocracking

      • Catalytic Reforming

      • Others

    • Chemical Synthesis

      • Polyolefins

      • Adsorbents

      • Chemical catalysts

      • Others

    • Polymer & Petrochemicals

      • Ziegler Natta

      • Reaction Initiator

      • Urethane

      • Chromium

      • Single Site

      • Others

    • Environmental

      • Light Duty Vehicles

      • Heavy Duty Vehicles

      • Motorcycles

      • Others

  • Regional Outlook (Volume, KiloTons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Netherlands

      • Spain

      • Russia

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Indonesia

      • Malaysia

      • Australia

    • Latin America

      • Brazil

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

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