Catalyst Industry: Emerging Trends and Strategies

The economic value generated by the catalyst industry was estimated at approximately USD 29.72 billion in 2022.

Catalyst Industry | Forecast 2030

Grand View Research’s catalyst sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

The economic value generated by the catalyst industry was estimated at approximately USD 29.72 billion in 2022. This economic output is an amalgamation of basic catalyst categories namely, heterogenous and homogenous.

Access the Global Catalyst Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

The global catalyst market has witnessed remarkable growth in the recent past. This growth can be attributed to the rising demand for catalysts from manufacturers across the world. These manufacturers seek catalysts to optimize their processes, improve yields, save costs, and conserve energy. The demand stems from various applications such as chemical synthesis, petroleum refining, polymers & petrochemicals, and environmental purposes. A catalyst is a substance that accelerates chemical reactions by providing an alternative pathway with lower energy requirements. By doing so, it enables reactions to occur at faster rates and under milder conditions. Catalysts can exist in different forms, either as heterogeneous substances (solid/gas or solid/liquid) or as homogeneous substances (in the same phase as the reactants). Regardless of their form, catalysts are designed to interact with reactant molecules, ultimately leading to the desired products.

Heterogeneous Catalyst Market Report Highlights

• The polymer segment emerged as the fastest growing end-use segment with a CAGR of 5.0% from 2023 to 2030; as polymers enable and control and efficient synthesis of various polymers with desired properties

• The zeolite-based segment emerged as the fastest growing product segment with market share of 21.0% from 2023 to 2030; zeolite-based catalysts find extensive applications in the petroleum and petrochemical industries, providing high selectivity and stability in processes like catalytic cracking, isomerization, and alkylation

• Asia Pacific emerged as the fastest growing region with a CAGR of 5.3% from 2023 to 2030 due to high population, land fertility, increased demand for food grains, and effective use of land through fertilizer

• R. Grace & Co.-Conn., announced the completion of its acquisition of Rive Technology, Inc., a prominent manufacturer of FCC catalysts. This strategic acquisition encompassed a complete array of service offerings, highly skilled workforce, and cutting-edge technological assets, all of which were seamlessly integrated into the operational framework of W.R. Grace & Co.-Conn

• Market participants are dedicated to intensively optimizing and managing the efficiency of their supply chains. Their objective is to enhance operational efficiency, increase productivity, reduce lead time, and effectively address sourcing needs. This strategy enables them to remain competitive in the market and effectively contend with other industry players

Order your copy of Free Sample of “Catalyst Industry Data Book – Heterogeneous Catalyst and Homogeneous Catalyst Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Homogeneous Catalyst Market Report Highlights

• The polymer segment emerged as the growing application segment with a CAGR of 5.0% from 2023 to 2030. This is attributed to the fact the homogeneous catalysts such as Ziegler-Natta helps impart specific tactility to polymers which is difficult to attain from any other process.

• The chemical compound segment emerged as the fastest growing product segment with market share of 31.0% from 2023 to 2030. Chemical compounds, such as Wilkinson’s catalyst ([RhCl(PPh3)3]), are extensively used as homogeneous catalysts, particularly in the hydrogenation of alkenes. They consist of a central metal atom coordinated with various ligands, such as phosphines, amines, or halides, which determine their catalytic activity.

• Asia Pacific emerged as the fastest growing region with a CAGR of 5.8% from 2023 to 2030. This technological advancements which have led to the use of catalysts for the synthesis of fine chemicals such as carotenoids, vitamins, and flavoring & fragrance compounds, which is expected to fuel the utilization of the product in the region.

• In August 2022, Albemarle Corporation, which is a major player in the specialty chemicals industry worldwide, has declared that it will retain its catalysts business as a wholly-owned subsidiary as part of its strategic plan. The objective of this move is to enable the business to respond more efficiently to specific customer requirements and the changing dynamics of the global market.

Company Profiles

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

Competitive Insights

Companies are actively pursuing mergers and partnerships as a means to solidify their market position. A prime example of this is W. R. Grace & Co.-Conn., which recently completed its acquisition of Rive Technology, Inc., a manufacturer of FCC catalysts. As part of the acquisition, W. R. Grace & Co.-Conn. integrated all of Rive Technology’s service offerings, employees, and technological assets into its own business model. This integration of technology has enabled the company to offer a more customer-centric product range, catering to the increasing catalyst demands of the petrochemical and refining sectors.

Moreover, innovation, product differentiation, and a strong focus on customer needs are key factors that drive success in the catalyst industry, ensuring that companies can meet the ever-evolving demands of the chemical industry while contributing to a sustainable future. Some of the prominent players include Albemarle Corporation, Haldor Topsoe A/S, BASF SE, Evonik Industries AG, LyondellBasell Industries Holdings B.V., Arkema, The Dow Chemical Company, Haldor Topsoe A/S, W. R. Grace & Co.-Conn., Johnson Matthey, Axens, Honeywell UOP, Zeolyst International, Clariant, Umicore, and Exxon Mobil Corporation.