Catalyst Market Size, Share & Trends Report

Catalyst Market Size, Share & Trends Analysis Report By Product (Heterogeneous, Homogeneous), By Raw Material (Zeolite, Metals), By Application (Chemical Synthesis, Environmental), And Segment Forecasts, 2019 - 2025

  • Published Date: May, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-228-0
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 250

Industry Insights

The global catalyst market size was estimated at USD 25.0 billion in 2018 and is anticipated to expand at a CAGR of 4.5% by 2025. Catalysts help in reducing environmental emissions and manufacturing costs and favorable environmental regulations across industries and countries has have been a key factor driving the market.

Increasing demand for polymers from end-use industries such as electrical and electronics and automotive is also driving the market. Catalysts are widely used in the electrical and electronics industry as an essential component in the synthesis process. Moreover, rising product demand by automotive manufacturers to adhere to carbon emission norms is boosting market growth.

U.S. catalyst Market

The chemical industry in U.S. is expected to grow significantly in the forecast period due to rising demand from numerous end-use industries, such as plastics, electrical and electronic appliances, and rubber. Amongst these, the automotive industry is positively supporting the chemical industry, thereby driving the regional market.

Increasing replacement of conventional crude oil and natural gas with shale gas and tight oil in the U.S. and Canada is forcing the market players to increasing spending on refining. Moreover, growing economies and growing energy demand on the global scale, especially in non-OECD economies is promoting the scope of refining in the region.

Increase in demand for diesel powered vehicles is expected to boost the shift in refinery catalyst product mix since refiners will be potentially increasing the consumption of pumping systems. Furthermore, growing demand for advanced polymer composites in industries like military and aerospace sectors is expected to drive the market.

Growth of these end-use industries is will ultimately propel the demand for polymer, thereby driving the market. However, fluctuating raw material prices is hampering the market. Nonetheless, if the raw material is manufactured from organic sources, the prices are expected to increase, positively affecting the catalyst pricing.

Raw Material Insights

The chemical compounds segment is expected to expand at a CAGR of 4.7% over the forecast period due to increasing use by various industries. Chemical compounds are increasingly used as catalyst materials for a wide range of applications. Moreover, rising popularity of organometallic compounds for the manufacture of polyethylene and polypropylene is one of the major drivers of the market.

Economical prices of chemical compounds as compared to metals, enzymes, and zeolites are predicted to drive the market. Additionally, low production cost and growing application of chemicals in emerging economies of Asia Pacific will fuel product demand over the forecast period.

The metal segment accounted for 24.8% of the global revenue in 2018 and is estimated to expand at a CAGR of 4.5% by 2025 due to increasing use as a catalyst for improving the reaction rate in refining, chemical processing, and making of polymers. Increase in demand for metal catalysts, such as molybdenum and iron, for the manufacture of ammonia is also driving the market.

Increased manufacture of metals such as nickel, chromium, copper, molybdenum, platinum, palladium, ruthenium, gold, and rhodium in emerging countries of South Africa and Chile is fueling the market. This is primarily due to supportive regulations to ensure steady supply of raw materials. Among these metals, platinum is most widely used owing to its exceptional properties.

Product Insights

The heterogeneous segment dominated the global catalyst market in 2018 with a revenue of USD 18.0 billion that year, fueled by increased usage in end-use industries. Heterogeneous catalysts are widely used in polymer, chemical, automobile, and petrochemical industries.

The solubility property of these product variants in the reactants stage is driving its use in polymer, petrochemical, and chemical production. They are also mainly used in the form of iron for ammonia production. Moreover, increasing popularity of enzymes is anticipated to drive product demand in the forthcoming years.

The homogeneous segment is expected to expand at a CAGR of 4.8% over the forecast period due to increasing use in the esterification of carboxylic acids. Additionally, increasing popularity of organometallic compounds for the manufacture of polypropylene and polyethylene is driving the segment.

Biocatalysts and enzymes are highly preferred in pharmaceutical and food and beverage industries due to their environment-friendly nature and longer shelf-life. Increasing popularity of biofuels due to supportive regulations is also driving the market.

Application Insights

The chemical synthesis segment was valued at USD 6.7 billion in 2018 and is expected to grow in future due to increasing demand from various end-use industries. Chemical synthesis comprises inorganic and organic chemistry, including processes such as Haber, contact, and conversion of ammonia to nitric acid that requires use of catalysts. Expansion of the chemical industry on a global scale is also expected to fuel product demand.

Catalysts are widely used in chemical synthesis due to properties such as enantioselective processes, activation of alkynes and alkenes, and promoting regio-, diastereo-, and high stability. Moreover, they hold properties like excellent functional group tolerance, cost competitiveness, and no need for additional ligands, which is also expected to drive the segment.

Global catalyst Market

The environmental segment was estimated at USD 8.0 billion in 2018 and is predicted to expand at a CAGR of 5.4% by 2025 due to increasing use thanks to supportive environment-friendly properties. Catalysts are an important factor in environmental remediation like vehicle emission control systems and municipal or industrial waste treatment. Catalysts control pollution and avoid adverse environmental impacts. They also help in manufacturing low polluting refrigerants, which are majorly used in industries to treat released effluents and reduce the impact on the environment.

Availability of low-priced chemical compounds, in comparison to other materials, is expected to drive the segment in future. Moreover, growing applications of chemical compounds in emerging economies of Asia Pacific is predicted to boost product supply for manufacturing various materials. Favorable initiatives from governments in emerging economies is also driving the market.

Increasing use of catalysts in desulfurization of liquids and gases, rising octane ratings in crude oil fractions, and usage in improving reaction rate in chemical processing are driving the market. Furthermore, increasing preference for high priced precious metals in alternate applications like jewelry designing is propelling market growth.

Regional Insights

The Asia Pacific market was valued at USD 8.4 billion in 2018 and is expected to register a CAGR of over 5.o% by 2025 due to speedy development of the chemical industry, especially in emerging economies. Increasing product demand is also attributed to the exceptional properties of zeolite catalysts such as better shape and size selectivity.

North America accounted for 30.9% of the global market in 2018 and is expected to expand at a CAGR of 4.3% during the forecast period due to high demand for advanced polymer composites in the military and aerospace industries. Additionally, increase in demand for gasoline in U.S. is expected to drive the regional market.

Rising importance of catalysts in transforming heavy crude oil into light fractions such as diesel, gasoline, and kerosene is driving product demand. Growth of the chemical industry in Mexico is also contributing to product demand. Increasing technological advancements in hydraulic fracturing is also likely to emerge as a crucial factor impacting industry growth.

Catalyst Market Share Insights

Key players in the industry are focusing on adopting growth strategies such as acquisitions for more developments and catering to the growing demand on a global scale. Increasing production of major metals in emerging countries such as South Africa and Chile, on account of supportive regulations such as FDI for mineral production, is a key opportunity for players.

Leading players in the market include BASF, W.R. Grace, Chevron Australia, Albemarle Corporation, Johnson Matthey, Beach Petroleum Ltd, Evonik Industries AG, DuPont, Carnarvon Petroleum Ltd, Apache Corporation, Cue Energy Resources Ltd, ExxonMobil Australia, Australian Worldwide Exploration Ltd, Arrow Energy, and Bass Strait Oil Company Ltd.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million, Volume in Kilo Tons & CAGR from 2019 to 2025

Regional scope

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

Report coverage        

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

Country Scope

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

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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 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 based on raw material, product, application, and region:

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

    • Chemical Compounds

      • Acids

      • Peroxides

      • Amines & Others

    •  Metals

      • Precious Metals

      • Base Metals

    • Zeolites

    • Others

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

    • Heterogenous

    • Homogeneous

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

    • Chemical Synthesis

      • Chemical Catalysts

      • Adsorbents

      • Polyolefins

      • Others

    • Petroleum Refining

      • FCC

      • Alkylation

      • Hydrotreating

      • Hydrocracking

      • Catalytic Reforming

      • Others

    • Polymers & Petrochemicals

      • Ziegler Natta

      • Reaction Initiator

      • Chromium

      • Urethane

      • Single-Site

      • Others

    •  Environmental

      • Light Duty Vehicles

      •  Motorcycles

      • Heavy Duty Vehicles

      • Others

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

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Netherlands

      • Spain

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

      • Australia

      • Indonesia

      • Malaysia

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

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