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Chemical Catalyst Market Trends

Report ID: GMI6351
Published Date: Jul 2023
Report Format: PDF

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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.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for chemical catalyst was valued at around USD 39.2 billion in 2022 and is estimated to reach USD 60.9 billion by the end of 2032, backed by the expansion of various industries, such as petrochemicals, polymers, chemicals, and pharmaceuticals.

Metals and metal oxides held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace by 2032, driven by the growing adoption of metal catalysts in various industries for reactions, including hydrogenation, oxidation, and hydrogen production.

U.S. chemical catalyst accounted for a revenue of USD 7.9 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032, owing to the demand from petrochemical industry for processes such as catalytic cracking, alkylation, and reforming to produce valuable petrochemicals and fuels.

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 among others.