Catalyst Market Share, Size, Trends, Industry Analysis Report, By Product (Heterogeneous Catalyst, Homogeneous Catalyst); By Type; By Process; By Application; By Region; Segment Forecast, 2024- 2032

Catalyst Market Share, Size, Trends, Industry Analysis Report, By Product (Heterogeneous Catalyst, Homogeneous Catalyst); By Type; By Process; By Application; By Region; Segment Forecast, 2024- 2032

The global catalyst market size is expected to reach USD 50.44 billion by 2032, according to a new study by Polaris Market Research. The report “Catalyst Market Share, Size, Trends, Industry Analysis Report, By Product (Heterogeneous Catalyst, Homogeneous Catalyst); By Type; By Process; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The enforcement of strict environmental regulations and global emission standards has compelled industries to transition to cleaner and more environmentally friendly production methods to mitigate harmful emissions. Catalysts play a pivotal role in reducing emissions, managing waste, and controlling pollution, making them essential for compliance with these regulations.

Furthermore, the increasing emphasis on renewable energy sources such as biofuels, hydrogen, and other sustainable alternatives has generated a need for catalysts utilized in various processes, including renewable energy production, fuel cells, and biomass conversion. Additionally, the growing demand for cleaner fuels to address escalating environmental concerns in sustainable transportation is a significant factor intensifying the need for catalysts, thereby propelling the Global Catalyst Market.

Moreover, catalysts are experiencing a surge in usage across various industries. In the refining sector, they play a crucial role in converting heavy oils into distillable and valuable products, with Nickel catalyzing the commercial hydrogenation of edible oils. Additionally, catalysts are gaining prominence in the automotive sector, particularly in car exhaust systems, where catalytic converters contribute to reducing airborne pollutants that can negatively impact the environment and human health. In the realm of food production, catalysts, particularly enzymes, have been traditionally employed, enabling the production of high-quality food products while ensuring food safety and security.

Consequently, there is a growing demand for catalysts, especially enzymes, within the food industry. Moreover, the pharmaceutical industry relies heavily on catalysts to facilitate the conversion of functional groups in molecules, creating new compounds and serving as crucial starting materials for subsequent synthetic processes. This multifaceted usage underscores the high demand for catalysts across diverse industrial applications, crop of Formonsequently projected to drive the demand for catalyst market throughout the forecast period.

Catalyst Market Report Highlights

In 2023, the enzyme segment accounted for the largest market share due to its broad application in industries facilitated by their precise catalysis of particular processes, also used in the pharmaceutical industry for the synthesis of various drugs and pharmaceutical intermediates.

The petrol and refining segment is projected to grow at the fastest CAGR during the forecast period. Catalysts are essential to the refining process and are helping to drive the growth of this market as the industry moves toward biofuels and sustainable technology. Increased focus on maintaining and upgrading existing catalysts can contribute to market growth.

In 2023, Asia Pacific accounted for the largest market; catalyst demand in the region may be driven by the global transition towards greener energy sources, which includes improvements in the refining processes for cleaner fuels.

North America is expected to witness the fastest-growing CAGR during the forecast period. Catalysts that enable cleaner and greener manufacturing processes are increasingly being adopted in North America as sustainability and environmentally friendly practices become more salient.

The global key market players include Albemarle Corporation, Arkema, Axens, BASF SE, Clariant, Evonik Industries AG, Exxon Mobil Corporation, Haldor Topsoe A/S, Honeywell UOP, Johnson Matthey, LyondellBasell Industries Holdings B.V., The Dow Chemical Company, Umicore, W. R. Grace & Co.-Conn., Zeolyst International.

Polaris Market Research has segmented the catalyst market report based on product, type, process, application, and region:

Catalyst, Product Outlook (Revenue - USD Billion, 2019 - 2032)

Heterogeneous Catalyst

Homogeneous Catalyst

Catalyst, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Zeolites

Linde Type A (LTA)

Faujasite (FAU)

Mobil Five (MFI)

Others

Metals

Base Metals

Precious Metals

Chemical Compounds

Acids

Amines

Peroxides

Other Chemicals

Enzymes

Organometallic Materials

Catalyst, Process Outlook (Revenue - USD Billion, 2019 - 2032)

Recycling

Regeneration

Rejuvenation

Catalyst, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Petroleum Refining

Fluid Catalytic Cracking (FCC)

Alkylation Catalysts

Hydro Processing Catalysts

Catalytic Reforming

Others

Chemical Synthesis

Polyolefins

Catalytic Oxidation

Hydrogenation Catalysts

Others

Polymer Catalysis

Ziegler Natta

Reaction Initiator

Single Site

Others

Environmental

Light Duty Vehicles

Heavy Duty Vehicles

Others

Catalyst, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Australia

Rest of Asia Pacific

Latin America

Argentina

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of Middle East & Africa