The Precious Metal Catalysts Market size is estimated at 444.35 tons in 2024, and is expected to reach 461.26 tons by 2029, growing at a CAGR of 0.75% during the forecast period (2024-2029).
COVID-19 severely impacted the demand and supply chain of the precious metal catalysts market. The automobile and petrochemical industries, the market's major applications, were negatively impacted by the pandemic due to the lockdown regulations on transportation issued by governments, thus affecting the precious metal catalysts market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
The precious metal catalysts market is partially consolidated, with the top five players accounting for a considerable global market share. Some prominent players in the market include Clariant, BASF SE, Evonik Industries AG, Johnson Matthey, and Umicore Galvanotechnik GmbH, among others.
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