Global Catalyst Market Size, Trends and Growth Opportunity, By Material (Chemical Compounds, Metals, Zeolites, Others), Type (Heterogeneous Catalyst, Homogeneous Catalyst), Application (Chemical Synthesis, Petroleum Refining, Polymers and Petrochemicals, Environmental), Process (Recycling, Regeneration, Rejuvenation), By Region and Forecast Till 2027.
Global Catalyst Market
The Global Catalyst Market was valued at US$36 billion in 2021 and it is expected to reach at US$51 billion in 2027 at a CAGR of 4.57% during forecast period 2022-2027.
A chemical reaction can happen more quickly or under different circumstances, such as at a lower temperature, with the help of a catalyst. The reaction rate typically rises as a result. For instance, iron is utilized in the Haber process and nickel is used in the hydrogenation process.
Market Drivers
The petrochemical industry's rapid expansion has increased the demand for catalysts from those industries. In order to manufacture various gases and chemicals, the petrochemical industry has increased demand for catalysts. The need for high-performance catalysts is raising as the number of refineries rises, which is anticipated to fuel market expansion throughout the forecast period.
Market Restraints
During the projection period, it is projected that changes in oil and gas prices would have an impact on the market for catalysts. Furthermore, strict environmental norms and regulations are changing daily, which is likely to act as a restraint on the catalyst industry.
Market Segmentation
The global catalyst market is segmented into material, type, application and process. By material it segmented into chemical compounds, metals, zeolites, others. By type it segmented into heterogeneous catalyst, homogeneous catalyst. By application it segmented into chemical synthesis, petroleum refining, polymers and petrochemicals, environmental. By process it segmented into recycling, regeneration, rejuvenation.
Regional Analysis
The global catalyst market segmented into five regions North America, Europe, Latin America, Asia Pacific, Middle East and Africa. During the anticipated period, Asia-Pacific will hold a dominant market share in the catalyst industry. This is a result of the region's rising need for catalyst. Because of the vast number of vehicles in this region and the high demand for petroleum fuels, the Asia-Pacific region dominates the market for catalysts.
Key Players
Various key players are listed in this report such as Albemarle Corporation (U.S.), W R Grace (U.S.), BASF SE (Germany), Topsoe (Denmark), Honeywell International Inc (U.S.), Clariant (Switzerland), Axens (France), Johnson Matthey (U.K.), China Petrochemical Corporation (China), Shell Catalyst & Technologies (U.S.)
Market Taxonomy
By Material
Compounds
Metals
Zeolites
Others
By Type
Heterogeneous Catalyst
Homogeneous Catalyst
By Application
Chemical Synthesis
Petroleum Refining
Polymers and Petrochemicals
Environmental
By Process
Recycling
Regeneration
Rejuvenation
Key Question Addressed by the Report
What are the Key Opportunities in Global Catalyst Market?
What will be the growth rate from 2022 to 2027.
Which segment/region will have highest growth?
What are the factors that will impact/drive the Market?
What is the role of key players in the value chain?
What is the competitive Landscape in the industry?
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