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

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

Hydrogenation is a common reaction in which molecular hydrogen is added via double or triple bonds and has been widely used in industrial applications. This reaction usually requires a hydrogenation catalyst, which can reduce the conditions required for the reaction.

Market Overview:

The latest research study on the global Hydrogenation Catalysts market finds that the global Hydrogenation Catalysts market reached a value of USD 3542.67 million in 2022. It’s expected that the market will achieve USD 5659.35 million by 2028, exhibiting a CAGR of 8.12% during the forecast period.

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 company’s R&D expenditure and budget in the short term. In addition, the global petrochemical industry’s 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.

Improving requirements for downstream applications drive industry development

Hydrogenation catalysts are widely used in refining and petrochemicals, and the demand for products corresponding to these catalysts also promotes market development. Hydrogenation catalyst manufacturers are paying attention to the high recovery rate of the catalyst. In addition, the heterogeneous catalyst market has achieved revenue growth due to advances in the manufacturing process involved in the hydrogenation reaction. For example, metal surfaces must be better used in the heterogeneous catalyst market. They also tried to solve the problem of selectivity, which is common in many reactions. Stereoselectivity research has released the new functional advantages of new hydrogenation catalyst arrays. As the downstream application market has higher product requirements, it is expected to increase the performance requirements of hydrogenation catalysts, which will drive the development of the hydrogenation catalyst industry.

Environmental factor

The main pollutants produced during the production and use of hydrogenation catalysts include exhaust gas, wastewater, solid waste and noise. With the continuous improvement of society’s awareness of environmental protection and the continuous strengthening of government environmental protection work, stricter environmental protection standards may be introduced in the future, and higher environmental protection requirements will be put forward for both the petrochemical industry and the catalyst industry. For example, the Ministry of Ecology and Environment of China launched a special action to combat solid waste environmental violations on May 9, 2018. The improvement of environmental protection standards requires companies to further increase investment in environmental protection and increase operating costs, which may have a certain impact on the company's profit level. In addition, if the company's sewage treatment fails to meet the standards, and waste gas leakage causes environmental pollution accidents, the company will face administrative penalties and the risk of suspension of production for rectification, which will adversely affect the company's performance. Environmental factors will restrict the development of the hydrogenation catalyst industry to a certain extent.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

Shell (Criterion) is one of the major players operating in the Hydrogenation Catalysts market, holding a share of 19.36% in 2022.

Shell (Criterion)

Shell (Criterion) supplies catalysts and associated services. The Company operates in the areas of hydrogenation, oxidation, dehydrogenation, and environmental catalysts and systems. Shell (Criterion) offers services to refining and petrochemical industries.

Albemarle

Albemarle is a producer of catalyst solutions and performance chemicals. The company's products are used as additives to, or intermediates for, a wide range of products manufactured by pharmaceutical companies, cleaning product manufacturers, water treatment companies, agricultural companies, electronics goods manufacturers, refineries, and paper and photographic companies.

Segmentation Overview:

By type, Transition Metal Based Catalysts segment accounted for the largest share of market in 2021.

Transition Metal Based Catalysts

Transition Metal Based Catalysts refer to the role of transition metals and their compounds as catalysts due to their ability to change the oxidation state or, in the case of metals, adsorb other substances on their surface and activate in the process.

Noble Metal Based Catalyst

Noble Metal Based Catalyst needs precious metal material that can change the speed of chemical reaction without participating in the final product of the reaction. It has high catalytic activity, and also has comprehensive excellent characteristics such as high temperature resistance, oxidation resistance, and corrosion resistance.

Application Overview:

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

Refining

Refining usually uses hydrogenation catalysts to upgrade inferior petroleum fractions to high-quality fuels.

Petrochemicals

In petrochemicals, the use of hydrogenation catalysts can convert unsaturated compounds into saturated derivatives.

Oil & Fat Hydrogenation

The hydrogenation catalyst can be used for the oil & Fat Hydrogenation and oils to convert liquid oil into solid or semi-solid fat, making it more effective and better flavor stability.

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

UOP
Wenzhou Huahua Group
Sinopec
BASF
Schendly Industry Co., Ltd
CNPC
Johnson Matthey
Zibo Luyuan Industrial Catalyst Co., Ltd.
Zhejiang Tide New Material Co., Ltd.
Clariant
Porocel (Evonik)
JGC C&C
Zibo Qimao Catalyst Co., Ltd.
Jiangxi ECAST technology co., LTD. (ECAST catalyst)
Shandong Qilu Keli Chemical Institute Co., Ltd.
Shell (Criterion)
Haldor Topsoe
Grace (ART)
Xi'an Sunward Aeromat Co., Ltd.
Albemarle
Shandong Avant New Material Technology Co., Ltd.
Axens
Beijing Sanju

In Chapter 4 and Chapter 14.2, on the basis of types, the Hydrogenation Catalysts 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 Catalysts 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)