Metal Catalysts Market By Catalyst Type (Platinum, Ruthenium, Pallladium, Titanium, Zinc, Copper, Others), By Applications (Automotive, Petrochemical, Pharmaceutical, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The metal catalysts market was valued at $18.8 billion in 2021 and is estimated to reach $29.1 billion by 2031, exhibiting a CAGR of 4.5% from 2022 to 2031.
Metal catalysts are chemical compounds which are used to enhance rate of a chemical reaction by balancing the activation energy of metal. Some of the precious metal catalysts includes platinum, palladium, vanadium, zinc, titanium, and others. These metal catalysts are corrosion resistant, thermally stable, environment friendly, and best suited for high-performance applications owing to which it finds wide range of applications in industrial, petrochemical, automotive, medical, and others.
Increase in the demand from emerging end use industries and increase in the production rate of metal catalyst from leading manufacturers has spurred the growth of industrial sectors. For instance, according to an article published by Indian Express in December 2022, India’s industrial sector is projected to grow at 11.8% in the year 2021-2022 and plans like Production Linked Scheme (PLI) for various sector has enhanced the growth of industrial sector in India. Metal catalyst plays a significant role in the industrial sector where it is widely used in refining petroleum to break the long chain hydrocarbon molecules into smaller ones. This may act as one of the driving factors responsible for the growth of the metal catalyst market during the forecast period.
Habitual exposure to metal catalysts in the automotive, industrial, and metal fabrication industries will have adverse effects on the workers. In addition, several metal catalysts involved in organic synthetic reactions rely on heavy metals and tend to contaminate the environment if they are not disposed of properly. It is therefore essential to reduce the quantity of these metal catalysts that we use in each reaction. In addition, metal catalysts are expensive and toxic which may restrain market growth.
The growing population coupled with an increase in the per capita income of consumers, improvement in the standard of living, and rise in the demand for commercial vehicles has led the Indian government has set up large orders for automobile. For instance, according to an article published Invest India December 2022, the automobile industry produced a total 22.93 million vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers, and quadricycles in April 2021 to March 2022. Platinum–based metal catalyst This is anticipated to increase sales of metal catalyst market in the automobile industry; thus, creating lucrative opportunities for the market.
The global metal catalyst market analysis is done on the basis of catalysts type, applications, and region. the market is divided into platinum, ruthenium, palladium, titanium, zinc, copper, and others. On the basis of application, it is fragmented into automotive, petrochemical, pharmaceutical, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The major companies profiled in this report include Alfa Aesar, Thermo Fisher Scientific., Alfa Chemistry., American Elements, BASF SE, CHIMET, Clariant AG, Evonik Industries AG, Heraeus Holding, Johnson Matthey, and Vineeth Precious Catalysts Pvt. Ltd.
Key Findings :
By catalyst type, the platinum segment is expected to hold 30% of the market share in 2021.
By application, the automotive segment is estimated to grow faster and accounted for 4.5% of CAGR during 2022-2031.
By region North America hold largest market share generating region followed by Asia-Pacific
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the metal catalysts market analysis from 2021 to 2031 to identify the prevailing metal catalysts market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the metal catalysts market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global metal catalysts market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Catalyst Type
Platinum
Ruthenium
Pallladium
Titanium
Zinc
Copper
Others
By Applications
Automotive
Petrochemical
Pharmaceutical
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Alfa Chemistry
BASF SE
Chimet S.p.A.
heraeus holding gmbh
Clariant AG
Alfa Aesar, Thermo Fisher Scientific
Johnson Matthey plc
Vineeth Precious Catalysts Pvt. Ltd.
AMERICAN ELEMENTS
Evonik Industries AG
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