Catalyst Industry | Forecast 2030
Catalyst Industry Data Book – Heterogeneous Catalyst and Homogeneous Catalyst Market
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, 2022 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 Insights
The global heterogeneous catalyst market size was valued at USD 21.3 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030. The heterogeneous catalysts are widely used in industrial processes such as oil refining, chemical synthesis, and energy production. The growth of these industries, along with the need for more efficient and sustainable processes, increases the demand for market.
Heterogeneous catalysts are solid materials that promote chemical reactions by offering an active surface for reactant molecules to adsorb, undergo reactions, and subsequently desorb as products. These substances find widespread application across various industrial domains, encompassing petroleum refining, petrochemicals, pharmaceuticals, food processing, polymers, and environmental preservation.
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Homogeneous Catalyst Market
The global homogeneous catalyst market size was valued at USD 8.42 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. This is attributed to the advancing use of the product in variety of chemical reactions across different end use industries for yield improvement, optimization, cost reduction, and energy conservation. Their ability to provide better performance in industrial and organic reactions as compared to their heterogeneous alternatives is another factor anticipated to drive the demand for the product over the forecast period. However, these catalytic reactions create huge amounts of toxic waste, causing environmental hazards. This has led to increase in production of biodegradable homogeneous catalysts such as methane sulfonic acid (MSA) to cater to the demand.
Homogeneous catalysts are compounds that are used to accelerate chemical reactions by reducing the activation energy required to initiate a reaction. They are majorly used for the esterification of carboxylic acids, which is likely to create a stable demand for the product. In addition, the growing popularity of organometallic compounds for the production of polyethylene and polypropylene is further expected to fuel their demand in the near future. Enzymes and biocatalysts, which are some popular types of homogeneous catalysts, are being increasingly deployed in the food & beverage and pharmaceutical industries on account of their longer shelf life and eco-friendly nature. Thus, all these factors are anticipated to contribute to the product demand over the forecast period.
Table of Contents – Sectoral Outlook Report
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
Chapter 2. Executive Summary
2.1. Industry Snapshot
2.2. Key Trends – Highlights
Chapter 3. Industry Trend Analysis
3.1. Regulatory Framework & Benchmark
3.2. Value Chain Analysis
3.2.1. Manufacturing/Technological Outlook
3.3. Competitive Benchmarking
3.3.1. Heat-map Analysis
3.3.2. Distribution Channel Analysis
3.4. Macro Environmental Trend Analysis
3.4.1. Industry Driving Forces & Impact Analysis
3.4.2. Opportunities & Challenges
- Albemarle Corporation
- Haldor Topsoe A/S
- BASF SE
- Evonik Industries AG
- LyondellBasell Industries Holdings B.V.
- The Dow Chemical Company
- Haldor Topsoe A/S
- R. Grace & Co.-Conn.
- Johnson Matthey
- Honeywell UOP
- Zeolyst International
- Exxon Mobil Corporation