Chemical Catalyst Market - By Type (Heterogeneous, Homogeneous), By Material (Metals and metal oxides, Zeolites, Chemical compound), By Form (Powder, Bead, Extrudate), By Process, By Application & Forecast, 2023 – 2032

Chemical Catalyst Market Size

Chemical Catalyst Market size was valued at around USD 39.2 billion in 2022 and will grow at a CAGR of 4.5% from 2023 to 2032. The growth of various industrial processes, such as petrochemicals, polymers, chemicals, and pharmaceuticals, drives the demand for chemical catalysts to facilitate and optimize these reactions. The expansion of the chemical industry globally, driven by increasing demand for chemicals in various sectors, fuels the need for efficient catalysts to enhance production processes and yield.
 

The growing demand for petrochemicals, such as ethylene and propylene, used in plastics and other products, creates a need for catalysts to optimize these processes.

Developing new catalysts can be expensive and time-consuming due to the need for extensive research, testing, and optimization. The high development costs can hinder the commercialization of novel catalysts. Catalysts can become deactivated or lose their activity over time due to factors like fouling, poisoning, and thermal degradation. Designing catalysts with specific properties and selectivity for desired reactions can be complex and challenging. Thus, the high-end pricing and risks associated with Chemical catalyst may drive down the acceptance rate, further hampering the business growth.
 

COVID-19 Impact

During the height of the pandemic and lockdown measures, many industries experienced reduced activity or temporary closures. This resulted in a decline in the demand for catalysts used in various industrial processes, such as petrochemicals, refining, and specialty chemicals. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the Chemical catalyst industry expansion in the upcoming years.
 

Chemical catalyst Market Trends

The demand for sustainable and environmentally friendly catalysts has been increasing. Green catalysts, which promote cleaner and more energy-efficient reactions, are gaining popularity as industries focus on reducing their environmental footprint. Digitalization and the use of artificial intelligence (AI) and machine learning in catalyst development are enabling faster and more efficient screening of potential catalysts, accelerating the discovery of novel catalyst materials. Thus, the growing prevalence is expected to expedite the chemical catalyst industry growth.
 

Chemical Catalyst Market Analysis

Based on product type, the chemical catalyst market is segmented as heterogeneous and homogeneous. Heterogeneous held a majority market value of USD 22.7 billion in 2022. Heterogeneous catalysts are widely used in industrial processes, such as petrochemical refining and chemical synthesis, due to their ease of separation and reuse. The demand is driven by the growing petrochemical industry and the need for cleaner and more efficient chemical transformations. Moreover, an increasing usage will further accelerate the segmental growth.
 

Based on material, the chemical catalyst market is segmented as Metals and metal oxides, zeolites, chemical compound. Metals and metal oxides held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace till 2032. Metal catalysts, such as platinum, palladium, and nickel-based catalysts, are used in numerous reactions, including hydrogenation, oxidation, and hydrogen production. The demand is driven by the growing adoption of metal catalysts in various industries, including petrochemicals, pharmaceuticals, and environmental applications.
 

Based on form, the chemical catalyst market is segmented as powder, bead, extrudate, others. Powder held a dominant market share in 2022 and is anticipated to grow at 3.3% CAGR through 2032. Powder catalysts are versatile and widely used in various catalytic processes, such as petrochemical refining, chemical synthesis, and environmental applications. Their high surface area and ease of handling drive their demand.
 

Based on process the market is segmented as fluid catalytic cracking (FCC), hydrogenation, oxidation, isomerization, alkylation, polymerization, others. Fluid Catalytic Cracking held a dominant chemical catalyst market share in 2022 and is anticipated to grow significantly till 2032. The growth of the petroleum refining industry, driven by increasing demand for transportation fuels and petrochemical feedstocks, fuels the demand for FCC catalysts.
 

Based on application, the chemical catalyst market is segmented as petrochemicals, chemical synthesis, environmental catalysis, polymerization, refining, pharmaceuticals, others. Petrochemicals held a dominant market share in 2022 and is anticipated to grow till 2032. The petrochemical industry is a significant consumer of chemical catalysts for processes such as cracking, alkylation, reforming, and polymerization. The growing demand for petrochemical products, including plastics and synthetic rubbers, drives the demand for catalysts in this sector.
 

U.S. dominated the North American region with majority market share and a revenue of USD 7.9 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. The North American region has a significant petrochemical industry, with demand for chemical catalysts in processes such as catalytic cracking, alkylation, and reforming to produce valuable petrochemicals and fuels. Thus, the above-mentioned variables would augment the Chemical catalyst business growth in the North America positively.
 

Chemical Catalyst Market Share

Some of the major players operating in the Chemical catalyst market are

• BASF SE
• Clariant AG
• Johnson Matthey PLC
• Albemarle Corporation
• W. R. Grace & Co.
• Evonik Industries AG
• Haldor Topsoe A/S
• Arkema SA
• UOP LLC (Honeywell)
• ExxonMobil Corporation
• Sinopec Catalyst Company
• LyondellBasell Industries N.V.
• Royal Dutch Shell PLC
• DuPont de Nemours, Inc.
• Chevron Phillips Chemical Company LLC

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Chemical Catalyst Industry News:

• In March 2023, W. R. Grace & Co.-Conn. announced the completion of its acquisition of Rive Technology, Inc., an FCC catalysts manufacturer. The acquisition included all of the service offerings, employees, and technological assets, which were integrated into W.R Grace & Co. - Conn’s business model.
   

Chemical catalyst market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Units from 2018 to 2032, for the following segments:

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By Type

• Heterogeneous
• Homogeneous

By Material

• Metal and metal oxides
• Zeolites
• Chemical compound

By Form      

• Powder
• Bead
• Extrudate
• Others

By Process

• Fluid Catalytic Cracking (FCC)
• Hydrogenation
• Oxidation
• Isomerization
• Alkylation
•  Polymerization
• Others

By Application

• Petrochemicals
• Chemical Synthesis
• Environmental Catalysis
• Polymerization
• Refining
• Pharmaceuticals
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt