Global Hydrogenation Catalyst Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hydrogenation Catalyst Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Hydrogenation catalyst refers to the catalyst used when the compound is added to hydrogen. The common types are metal catalysts of group VIII transition metal elements, noble metal-based catalysts and others. It is mainly used for product production, raw material purification, and product refining.

Market Overview:


The latest research study on the global Hydrogenation Catalyst market finds that the global Hydrogenation Catalyst market reached a value of USD 3248.87 million in 2022. It’s expected that the market will achieve USD 3920.93 million by 2028, exhibiting a CAGR of 3.18% during the forecast period.

Influence of COVID-19 Outbreak on Hydrogenation Catalysts Industry Development

After the global outbreak of COVID-19, it has had a certain impact on the hydrogen catalyst industry.

Firstly, the COVID-19 outbreak has affected the hydrogenation catalyst industry chain. Due to blockade measures introduced by various countries and considerations for the health of employees, many factories have chosen to temporarily suspend operations or reduce production capacity, which reduces the demand for hydrogenation catalysts to a certain extent. For companies in areas where the epidemic is relatively mild and can start operations normally, even if they start operations at normal times, they will face an insufficient supply of raw materials, resulting in lower-than-normal capacity utilization. The spread of epidemics caused by transportation will affect normal cargo transportation. According to data, the incubation period of the new coronavirus that caused this epidemic is about 7-14 days. In many countries, there are many transmission cases in long-distance buses, trains, airplanes and other means of transportation. Therefore, there is a risk of spreading the virus due to long-distance transportation. Therefore, areas with more severe epidemics have taken certain measures to control transportation. The supply side is under tremendous pressure.

COVID-19 has also affected the development of hydrogenation catalysts. COVID-19 has brought economic challenges to some companies. For some companies, changes in business prospects are likely to affect the companys R&D expenditure and budget in the short term. In addition, the global petrochemical industry demand for hydrogenation catalysts has declined. There may be austerity policies in hydrogenation catalyst research and development activities. In addition, due to the blockade measures of various countries, there will be fewer exchange activities in some industries, which will result in a short-term blow to the research and development of hydrogenation catalysts

Driving Factors for this Market

Increasing downstream demand

An important downstream application of hydrogenation catalysts is the oil refining industry. Due to the slowdown in global economic growth and the intensified changes in crude oil prices, crude oil quality has become increasingly deteriorating and re-qualifying. The amount of catalyst required to produce ultra-low sulfur diesel fuel from oil sands is dozens of times higher than that required to produce ultra-low sulfur diesel fuel from conventional crude oil. Secondly, the continuous improvement of product cleanliness requirements and the energy saving and emission reduction requirements in the production process have stimulated the demand for hydrogenation catalysts. According to the new environmental protection requirements, the refinery must take measures to reduce the emission of toxic and harmful gases and choose better processing techniques during production. Fuel regulations require refineries to produce cleaner gasoline and diesel, and less heavy fuel oil. In order to meet the stringent low-sulfur gasoline and diesel standards, the world's oil refining industry has invested heavily in transformation and construction of more hydro processing units to meet low-sulfur requirements.

Challenging Factors for this Market

Increasing stricter environmental protection policy in some regions with the increasing awareness of environmental protection in the whole society, national environmental protection efforts are continuously strengthened, and more stringent environmental protection standards may be issued in the future, placing higher environmental protection requirements on chemical companies. One of the examples is China. As the fastest-growing emerging economy, China has begun to focus on the ecological environment in recent years. In order to resolutely curb the occurrence of illegal dumping cases of solid waste and ensure the safety of the ecological environment of the Yangtze River, the Ministry of Ecology and Environment launched the Special Action Against Solid Waste Environmental Illegal Activities on 9 May 2018, which is called Removal Action 2018. The Waste Removal Action 2018 inspection team carried out week-long inspection work in 11 provinces (cities). Before the end of June 2018, the chemical parks and chemical enterprises still existing in environmentally sensitive areas were canceled according to law; Chemical companies within 1 km of the line must move out and enter the compliance zone.
The improvement of environmental protection standards requires the company to further increase environmental protection investment and increase operating costs, which may have a certain impact on the company's profit level. In addition, if the company's sewage treatment is not up to standard, exhaust gas leakage, etc. causes environmental pollution accidents, the company will face the risk of administrative punishment and suspension of production and rectification, which adversely affects the company's performance.

Region Overview:


North America was the largest revenue market with a market share of 50.84% in 2015 and 48.54% in 2019, an increase of -2.3%. In 2019, the Europe market share was 32.76%, ranking second.

Company Overview:


The top three companies are Advanced Refining Technologies (ART), Shell Catalysts & Technologies, Albemarle with the revenue market share of 17.07%, 15.17% and 12.85% in 2019.

Segmentation Overview:


Among different product types, Transition Metal Based Catalysts segment is anticipated to contribute the largest market share in 2027.

Application Overview:


By application, the Refining segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Hydrogenation Catalyst market covered in Chapter 3:

Evonik
Haldor Topsoe
Albemarle
Criterion
Johnson Matthey
Advanced Refining Technologies (ART)
BASF
Axens
Sinopec
UOP
Clariant
CNPC

In Chapter 4 and Chapter 14.2, on the basis of types, the Hydrogenation Catalyst market from 2018 to 2029 is primarily split into:

Transition Metal Based Catalysts
Noble Metal Based Catalyst
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hydrogenation Catalyst market from 2018 to 2029 covers:

Refining
Petrochemicals
Oil & Fat Hydrogenation
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)