Catalyst Market Size, Share & Trends Report

Catalyst Market Size, Share & Trends Analysis Report By Raw Material (Chemical Compounds), By Product by Application (Heterogeneous, Homogeneous), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-228-0
  • Number of Report Pages: 290
  • Format: PDF, Horizon Databook

Research Methodology

A three-pronged approach was followed for deducing the catalyst market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for catalyst market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of catalyst market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Catalyst Market Categorization:

The catalyst market was categorized into three segments, namely raw material (Chemical Compounds, Metals, Zeolites), product by application (Heterogeneous Catalyst, Homogeneous Catalyst), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The catalyst market was segmented into raw material, product by application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The catalyst market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; Netherlands; Spain; Russia; China; India; Japan; South Korea; Australia; Indonesia; Malaysia; Brazil; South Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Catalyst market companies & financials:

The catalyst market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Albemarle Corporation: Albemarle is a chemical company that is involved in the manufacturing and distribution of specialty chemicals. The company is a prominent producer of performance chemicals and a provider of catalyst solutions. The products manufactured by the company are used as intermediates or additives to a broad range of products manufactured by cleaning products manufacturers, pharmaceutical companies, agricultural companies, water treatment companies, refineries, electronic goods & paper manufacturers, and photography firms. The company operates through business segments, namely lithium, bromine specialties, and catalysts. Catalysts are offered for clean fuel technologies, fluid catalytic cracking, organometallics, curatives, and catalyst courier applications.

  • BASF SE: It is a German chemical production company offering products to several end-use industries including agriculture, chemicals, construction, electronic & electric, energy & resources, pharmaceuticals, and automotive & transportation. The company is operating through five business segments, namely performance products, chemicals, agricultural solutions, functional materials & solutions, and oil & gas. The chemical segment specializes in manufacturing products such as petrochemicals, catalysts, intermediates, and monomers. It provides specific catalysts including mobile emission catalysts, process catalysts, battery materials, stationery emissions, precious metal services, adsorbents, indoor air quality, refining catalysts, and aircraft cabin/fuel inerting in several end-use applications. The catalysts business division is headquartered in Iselin, New Jersey, U.S. This division operates with 30 manufacturing sites across the globe and engages over 5,000 employees worldwide.

  • Evonik Industries AG: The company is a global manufacturer of specialty chemicals that was established in 2007 from RAG Beteiligungs AG to its current name. The company operates production plants in 24 countries along with corporate offices in more than 100 countries across the globe. It operates through three business segments including nutrition and care, resource efficiency, and performance materials. The company manufactures catalysts under its resource efficiency and specialty material segments. The resource efficiency segment provides solutions to several end-use industries such as construction, adhesives, paints & coatings, and automotive.

  • LyondellBasell Industries Holdings B.V.: The company is a global chemicals and plastics manufacturer and refining company. It offers materials and products for applications including the improvement of electronics & appliances functionality, improving fuel efficiency, durability & versatility of pipes, and flexible, lightweight packaging. Polypropylene production and its technology licensing are some of the key business areas of the company. The company’s product categories include chemicals, polymers, advanced polymer solutions, fuels, and technology & quality systems. For technology, it provides catalysts under the brand name Avant for polyolefin process and product applications.

  • Arkema: The company is a prominent manufacturer of specialty and advanced materials. The company operates through three business segments including coating solutions, industrial chemicals, and performance products. It is engaged in manufacturing products for various application industries such as construction, consumer goods, oil & gas, paints, coatings & adhesives, and others. The company manufactures catalysts under the industrial chemicals business unit, which offers products to various end-use industries including pharmaceutical, oil & gas, and plastics. It has a presence in different regions including Europe, North America, and Asia Pacific with 13 research centers and marketing subsidiaries in around 40 countries. The company has 85 production facilities worldwide, majorly in Europe, and over 19,000 employees globally.

  • Dow Inc.: Dow Inc. is a global manufacturer of products for food & beverage; electronics; agriculture, feed, and animal care; building, construction, and infrastructure; beauty and personal care; automotive and transportation; chemical manufacturing and industrial; consumer goods and appliances; and textiles, leather, and nonwovens markets among others. It offers catalysts for ethylene oxide (EO) and oxo alcohol production applications. Its NORMAX Catalyst is available only for customers licensing LP OxoSM Process Technology from Dow and Johnson Matthey Davy Technologies Limited while MR2000 Catalyst is available to customers that use any EO/EG process technology. The company merged with DowDuPont in 2017 and subsequently separated into a public company via a corporate spinoff in April 2019.

  • Haldor Topsoe A/S: Haldor Topsoe A/Smanufactures over 150 catalysts and designs & fabricates custom catalysts for specific applications. The company’s catalysts are designed to cater to a wide range of processes, some of which include hydrocracking, hydrotreating, lube oil processing, pressure drop control, gas processing, gasoline synthesis, and petrochemical processing. For hydrotreating, it offers hydrodesulfurization (HDS) catalysts that help remove contaminants and sulfur hydrogenation in distillates. Apart from catalyst manufacturing, the company designs, engineers, and licenses a broad range of processes for hydroprocessing, emissions management, and chemical processing. It has regional offices in North & South America, Europe, and Asia Pacific. The company invests annually approximately 10% of its revenue in research & development activities. It operates through its production plants located in Denmark, China, and in the countries of North & South America.

  • W. R. Grace & Co.-Conn.: Johnson Matthey Plc operates three business segments including grace catalysts technologies, grace materials technology, and grace construction products. The company offers catalysts for a wide range of applications including dehydrogenation, hydrogenation, petrochemical applications, reductive amination, hydrogenolysis, reduction alkylation, aromatics, and oxidation. The products offered by the company are suitable for several end-use industries including plastics, pharmaceuticals, personal care, nutraceuticals, food & beverage, coatings & inks, and chemical processing. The company operates through 15 manufacturing plants for catalysts across the globe, specifically in North America (10), Asia Pacific (2), and Europe, Middle East & Africa (EMEA) (3).

  • Johnson Matthey Plc: Johnson Matthey Plc is a global manufacturer, specializing in catalysts and related services for end-use industries such as automotive, chemical, pharmaceutical & medical, oil & gas, agrochemicals & fertilizers, food & beverage, energy generation & storage, and glass. The company operates through five divisions, namely emission control technologies (ECT), process technologies, precious metal products, fine chemicals, and new businesses. ECT division offers heavy-duty and light-duty diesel catalyst systems for industry use and vehicles. The process technologies division provides licensing technologies, catalysts, and several other services to petrochemical, oleo/biochemical, syngas, gas processing, and oil refining industries. Under this division, the company also offers pyrolysis gasoline catalysts that help reduce fouling in downstream hydrodesulfurization units.

  • Axens SA: Axens SA is a global manufacturer of products such as adsorbents, catalysts, modular units, and equipment furnaces for oil refining, petrochemicals, gases, water, and renewables markets. It offers catalysts for hydrotreating, sweetening, hydrogenation, reforming, hydrocracking, and sulfur removal among others. For sulfur removal, the company provides hydrodesulfurization catalysts under the brand LCPS 10 that can treat LPG. For hydrotreating, it provides catalysts that can treat naphtha, diesel, kerosene, and VGO among other types of distillates. These catalysts are produced in its manufacturing sites located in the U.S., France, Canada, and Saudi Arabia.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Catalyst Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Catalyst Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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