Catalyst Market Size, Share & Trends Report

Catalyst Market Size, Share & Trends Analysis Report By Raw Material (Chemical Compounds, Zeolites, Metals), By Product (Heterogeneous, Homogeneous), By Application, By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Jul, 2020
  • Base Year for Estimate: 2019
  • Report ID: 978-1-68038-228-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 115

Report Overview 

The global catalyst market size was valued at USD 33.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2020 to 2027. The escalating demand for catalysts from applications including chemical synthesis, petroleum refining, polymers and petrochemicals, and environmental is driving demand for process optimization, yield improvement, cost-saving, and energy-saving amongst the manufacturers globally. Additionally, environmental catalysts help manufacturers meet all the stringent mandates related to NOx, Sox, and carbon dioxide emissions. Shifting energy trends towards alternative fuels including biodiesel and shale gas fuel have propelled the demand for catalysts. Additionally, manufacturers seeking to add value to their feedstock or refining by producing value-added petrochemicals and chemicals such as methanol and polyolefins, have encouraged the demand for the product from petrochemicals and chemicals applications.

U.S. catalyst market size

With the unprecedented outbreak of COVID-19, which has led to the closure of factories and manufacturing sites, there has been a significant decline in demand for oil, first such instance in a decade. Additionally, the price war between Russia and KSA has led to much decline in oil prices.

Global fuel demand is expected to drop by 15-10% in Q2, 2020 due to halt in air travel and national lockdowns. A number of plants have been shut down and some are running but at reduced rates which may thus impact the market demand especially in Iran, the U.S., China, India, France, Italy, and the U.K., that are some of the worst-hit economies.

Raw Material Insights

Chemical compounds emerged as the dominant raw material segment of the market representing a value share of 38.3% in 2019. Chemical compounds such as sulfuric acid, hydrofluoric acid, and calcium carbonate are used as catalyst raw materials for numerous applications in chemical, petrochemical, and polymer industries.

Metals used for dehydrogenation and hydrogenation are the noble metals (platinum, palladium, ruthenium, rhodium, gold, and copper), non-noble metal (tungsten and molybdenum), and others such as nickel and cobalt are also used as a key catalyst raw materials. These metals accelerate the process of breaking and re-arranging the aromatics and olefins to produce fractions such as alkanes and naphthenes.

Besides metals and chemical compounds, zeolites are another type of prominent raw material used in catalysts that are majorly used catalyzing and adsorbent applications owing to their porosity and large surface area. Zeolites can accommodate a diversity of ions supported by their porous structure. These are obtained naturally and can also be manufactured commercially from crystallization reactions.

Product Insights

Heterogeneous catalysts emerged as the prominent product segment of the market with a value share of 72.1% in 2019. Homogeneous catalysts are converted into heterogeneous catalysts via solid supports to reduce their toxicity. Some common examples of heterogeneous catalysts include sulfated zirconia, sulfonated carbon materials, sulfonated silica materials, and sulfonated MOFs materials.

The benefits of heterogeneous catalyst application include economical usage, simple separation of catalyst from products, and ease of application, which are likely to drive the segment. Further, gaining acceptance of heterogeneous catalysts over their homogenous counterparts for biodiesel production is likely to accelerate the growth of the catalyst market over the forecast period.

Homogeneous catalysts include products such as boric acid, phosphoric acid, hydrochloric acid, p-toluenesulfonic acid, and sulfuric acid. These catalysts are reported to show better performance in industrial and raw material reactions compared to their heterogeneous counterparts. However, these procedures create huge amounts of toxic waste, causing environmental hazards. This has prompted the need for environment-friendly catalysts, and the availability of biodegradable homogeneous catalysts such as methanesulfonic acid (MSA) has helped to meet such demands.

Application Insights

Chemical synthesis emerged as the prominent application segment of the market with a value share of 26.3% for heterogeneous catalysts in 2019. Chemical synthesis includes raw material and in raw material chemistry wherein processes such as Contact, Haber, and converting ammonia to nitric acid involve the use of catalysts. Therefore, global chemical industry growth is expected to augment catalyst demand over the forecast period.

Global catalyst market share

Application of catalysts in chemical synthesis is popular for their superior characteristics and properties such as the promotion of enantioselective processes, alkene, and alkyne activation and higher stability. Furthermore, they possess exceptional functional group tolerance, are cost-competitive, and do not require additional ligands. All the above-mentioned factors are responsible for increasing the use of catalysts in chemical synthesis and drive the segment growth.

Besides chemical synthesis, catalysts are primarily used in cracking of feedstock components in petroleum refining to increase the yield of high-quality products. The application of a catalyst promotes the optimization of hydrocracking reactions along with cost-saving and energy-saving benefits. This has favored the market growth in petroleum refining applications. 

Regional Insights

Asia Pacific is likely to account for the largest value share corresponding to 33.7% in 2019, supported by the dominance of the automobile, petrochemicals, polymer, and chemical industries in China. China had a significant chunk of chemical and polymer production companies and thus, emerged as a manufacturing destination for chemical and petrochemical products owing to growing domestic demand and low manufacturing cost compared to the U.S. and the European Union countries. The market growth in the Asia Pacific is further augmented by the increasing FDI investments and lucrative growth opportunities projected by developing nations such as India and Vietnam.

North America is the second-largest market, owing to the evolving low sulfur and automotive mandates that necessitate the application of environmental catalysts in the region. The mounting consumption of gasoline in the U.S. is anticipated to escalate the demand for catalysts used for transforming heavy crude oil to light fractions such as kerosene, diesel, and gasoline. Further, the growth of oil and gas and chemical sectors in Mexico is a key factor contributing to market growth in North America.

Middle East and Africa which represented a market value share of 6.5% in 2019 is expected to project lucrative opportunities to petroleum refining catalysts on account of oil and gas industry dominance in Saudi Arabia, Oman, Kuwait, and Qatar, countries of the region. A surge in domestic demand in the automotive, construction, packaging, and pharmaceutical industries is expected to propel chemical manufacturers to boost their production output for polymers and petrochemicals in the Middle East.

Key Companies & Market Share Insights

Key manufacturers of the product including Albemarle Corporation and Johnson Matthey Plc hold significant market share in terms of segmental revenue. These players have global operations and diversified product portfolio. Prominent operational strategies of the market players include positioning in high-growth countries such as India and Vietnam, acquisitions, alliances, investments, and building and operating fully optimized supply chains. Key focus areas of product development among the manufacturers are in-house R&D, sustainable production, technology licensing, and customized product offerings. Production expansion in line with the evolving automotive mandates and maintaining long-term supply contracts with refineries and petrochemical plants along with business integration and technology licensing have helped the manufacturers remain competitive and maintain stable sales throughout. Some of the prominent players in the catalyst market include:

  • Albemarle Corporation

  • Haldor Topsoe A/S

  • BASF SE

  • Evonik Industries AG

  • LyondellBasell Industries Holdings B.V.

Catalyst Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 35 million

Revenue forecast in 2027

USD 48 million

Growth Rate

CAGR of 4.4% from 2020 to 2027 (Value)

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in kilotons, Revenue in USD million, and CAGR from 2020 to 2027

Report coverage

Volume and revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Raw material, product by application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

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

Key companies profiled

Albemarle Corporation; BASF SE; Evonik Industries AG; LyondellBasell Industries Holdings B.V.; Arkema; W. R. Grace & Co.-Conn.; W. R. Grace & Co.-Conn.; Johnson Matthey Plc; Axens SA; Clariant International Ltd.; Exxon Mobil Corporation; Umicore

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global catalyst market report on the basis of raw material, product by application, and region:

  • Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Chemical compounds

      • Peroxides

      • Acids

      • Amines & others

    • Metals

      • Precious metals

      • Base metals

    • Zeolites

    • Others

  • Product By Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Heterogeneous Catalyst

      • Chemical synthesis

        • Chemical catalysts

        • Adsorbents

        • Syngas production

        • Others

      • Petroleum refining

        • FCC

        • Alkylation

        • Hydrotreating

        • Catalytic Reforming

        • Purification

        • Bed grading

        • Others

      • Polymers and petrochemicals

        • Ziegler Natta

        • Reaction Initiator

        • Chromium

        • Urethane

        • Solid Phosphorous Acid catalyst

        • Others

      • Environmental

        • Light-duty vehicles

        • Motorcycles

        • Heavy-duty vehicles

        • Others

    • Homogeneous Catalyst

      • Chemical synthesis

        • Chemical catalysts

        • Adsorbents

        • Syngas production

        • Others

      • Petroleum refining

        • FCC

        • Alkylation

        • Hydrotreating

        • Catalytic Reforming

        • Bed grading

        • Purification

        • Others

      • Polymers and petrochemicals

        • Ziegler Natta

        • Reaction Initiator

        • Chromium

        • Urethane

        • Solid Phosphorous Acid catalyst

        • Others

      • Environmental

        • Light-duty vehicles

        • Motorcycles

        • Heavy-duty vehicles

        • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • The U.K.

      • France

      • Italy

      • Netherlands

      • Spain

      • Russia

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Australia

      • Indonesia

      • Malaysia

    • South America

      • Brazil

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

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