The global chemical catalyst market size was valued at USD XXXXX million and is anticipated to grow to USD XXXXX million, with a CAGR of XX% during the forecast period. Catalyst are small chemical compounds that when added, control the amount of chemical reaction by increasing or decreasing the activation energy of the process. Additionally, the reaction process does not consume the catalyst, they can be reused after the treatment.
The global chemical catalyst market size is driven by growing demand for chemicals in various industries like personal care products, petroleum, ointments, food products, packed food and modified dairy products. Chemical catalyst is garnering popularity as it reduces the manufacturing cost of chemicals, petrochemicals and polymers. Various types of catalysts available in the market are zeolites, chemical compounds, enzymes and metals used in production of various daily need products. Growth in economic factors like rising population along with growing economic development in developing countries, alert and strict environmental rules with respect to emissions from vehicles, and the growing number of users for individuals are the factors that drive the market growth. Chemical catalyst market share is growing owing to increased investment in research and development even during the economic slowdown.
However, development of biochemicals through catalysis has led to new opening. But limited production and distribution of catalysts product hamper the market growth.
The Global chemical catalyst market size is segmented in terms of Type, Application and region. On the basis of Type the market is divided into Heterogeneous Catalyst, Homogeneous Catalyst, Enzymatic Catalyst, By Material, Zeolites, Metals and Chemical Compounds. The Heterogeneous chemical catalyst is the largest type and is popular as it can be easily separated post the reaction process. Often, it is solids that are added to gas or liquid reaction mixtures. Heterogeneous chemical catalysts are popularly used in petroleum refinery, additionally in chemical synthesis and manufacturing of petrochemical process.
On the basis of raw material, chemical processing catalysts market uses Zeolites, Metals and Chemical compounds and many others. Metals is further segmented as Base Metals and Precious Metals. Chemical compounds is further segmented Peroxide, Acid and Amines and others. Chemical catalyst find applications in many industries like Petroleum refining, Polymer, Chemical synthesis, Environmental. Petroleum refining is further divided as FCC, Alkylation, Hydrotreating, Hydrocracking, and Catalytic reforming. Chemical synthesis is further divided as Polyolefins, Adsorbents, and Chemical catalysts. Polymer is further segmented as Ziegler-Natta, Reaction Initiator, Urethane, Chromium, Single-site and others. Environmental is further divided as Light duty vehicles, Heavy duty vehicles, Motorcycles and others.
Global chemical catalyst market size is segmented on the basis of region as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia-Pacific is expected to be the fastest growing market owing to the high number of active pharmaceutical ingredients producers in China. Some of the key players in the chemical catalyst market share are BASF, Albemarle Corporation, ExxonMobil, Johnson Matthey and AkzoNobel N.V., W.R. Grace & Company and many others.
A study indicates that, environmental catalysts for emissions reduction/conversion will lead to a growth value of more than 4.5% p.a. whereas petrochemical catalysts will propel faster. Polymerization catalysts are anticipated to show a value of around 4% p.a and refining catalysts (dominated by transport fuels) growing at 3.7% p.a. due to encroachment via EVs and efficiency gains. Merchant catalyst market across the globe is envisioned to scale up from $xx.x BIL/yr in 2017 to $xx.x BIL/yr by 2023.
The most significant events observed in the upcoming years are refining industry’s growth getting restrained due to environmental regulations and less transport fuels demand as fuel-driven vehicles are expected to be replaced by the encroachment of EVs. The prospects for the chemical/petrochemical industries are growing with higher intensity as producers are adding value to their feedstock or refining positions. The thermoplastics industries will consolidate in catalyst and process licensing, leading to premium grades yielding enhanced margins in selected PE (and PP) applications. Environmental catalysts continue to deploy innovative combinations of catalysts and systems to fulfill more stringent mandates, scattering globally. New GHG/CO2 rules and regulations are driving innovations for reduced NOx/SOx, new products derived from CO2 emissions and improved energy efficiency.
The ExOne Company, a global provider of 3D printed and other products, three-dimensional (“3D”) printing machines, materials and services to industrial customers, declared its collaboration with Catalysis Additive Tooling (“Catalysis”). This step is taken to develop a new process for 3D printed tooling especially for low-to-medium volume production parts. Catalysis is basically based in Powell, Ohio, which is popular for offering a full-fledged solution which includes 3D-printing tooling and designing, as well as manufacturing parts. This collaboration has premium output which is a revolutionary novel rapid tooling process. Benefits to Catalysis customers is cost, speed and the ability to formulate a uniquely reusable tool for low-to-medium run production.