Homogeneous Catalyst Market To Reach $12.37 Billion By 2030

Homogeneous Catalyst Market Growth & Trends

The global homogeneous catalyst market size is expected to reach USD 12.37 billion by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.9% from 2023 to 2030. This is attributable to their ability to provide higher selectivity and reaction rates. They can facilitate complex reactions that are not possible with heterogeneous alternatives, making them valuable in a variety of industries, including petrochemicals, pharmaceuticals, and fine chemicals. Additionally, they can also reduce the time and energy required for a reaction, making them more cost-effective. Moreover, the emerging end use industries such as chemical and petrochemical in developing economies are further creating the growth opportunities for the product market.

Homogeneous catalysts play a critical role in organic chemistry. They are commonly used in various reactions, such as hydrogenation, oxidation, and hydroformylation. In hydrogenation reactions, for example, homogeneous catalysts like palladium and platinum are used to promote the addition of hydrogen molecules to carbon-carbon double bonds and carbon-carbon triple bonds, resulting in the production of saturated hydrocarbons. Additionally, products such as osmium tetroxide and manganese dioxide are used in the oxidation reactions of alcohols to produce ketones and aldehydes. Thus, the advancement of the chemicals industry is anticipated to drive the product demand over the forecast period.

However, strict government regulations on the use of certain chemical materials due to environmental concerns are acting as a restraining factor for the product market. Governments have imposed rules and regulations governing the production and use of homogeneous catalysts to minimize environmental degradation. This has led to increased costs for manufacturers, which in turn hinders the growth of product in the market.

Alternative technologies are becoming increasingly prevalent in the chemical industry, creating stiff competition for the product. Heterogeneous catalysts, for example, are inexpensive and readily available, and have gained wide acceptability in various chemical applications. This increased competition exerted by alternatives such as heterogeneous catalysts is attributed to hinder the market growth.

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Homogeneous Catalyst Market Report Highlights

• The polymer segment emerged as the growing application segment with a CAGR of 5.0% from 2023 to 2030. This is attributed to the fact the homogeneous catalysts such as Ziegler-Natta helps impart specific tactility to polymers which is difficult to attain from any other process.

• The chemical compound segment emerged as the fastest growing product segment with market share of 31.0% from 2023 to 2030. Chemical compounds, such as Wilkinson's catalyst ([RhCl(PPh3)3]), are extensively used as homogeneous catalysts, particularly in the hydrogenation of alkenes. They consist of a central metal atom coordinated with various ligands, such as phosphines, amines, or halides, which determine their catalytic activity.

• Asia Pacific emerged as the fastest growing region with a CAGR of 5.8% from 2023 to 2030. This technological advancements which have led to the use of catalysts for the synthesis of fine chemicals such as carotenoids, vitamins, and flavoring & fragrance compounds, which is expected to fuel the utilization of the product in the region.

• In August 2022, Albemarle Corporation, which is a major player in the specialty chemicals industry worldwide, has declared that it will retain its catalysts business as a wholly-owned subsidiary as part of its strategic plan. The objective of this move is to enable the business to respond more efficiently to specific customer requirements and the changing dynamics of the global market.

Homogeneous Catalyst Market Segmentation

Grand View Research has segmented the global homogeneous catalyst market based on product, application, and region:

Homogeneous Catalyst Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Metal based

• Chemical Compound

• Other Types

Homogeneous Catalyst Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Petroleum Refining

• Chemical Synthesis

• Polymer

• Environmental

Homogeneous Catalyst Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Russia

  • Netherlands

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Malayia

  • Indonesia

  • Australia

• Central & South America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Homogeneous Catalyst Market

• BASF SE

• Evonik Industries AG

• LyondellBasell Industries Holdings B.V.

• W. R. Grace & Co.-Conn.

• Johnson Matthey

• Axens

• Zeolyst International

• Clariant

• Umicore

• Synthesis with Catalysts Pvt. Ltd

• Heraeus Holding