Catalyst Industry Overview
The global catalyst market size was valued at USD 33.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2020 to 2027. The escalating demand for catalysts from applications including chemical synthesis, petroleum refining, polymers and petrochemicals, and environmental is driving demand for process optimization, yield improvement, cost-saving, and energy-saving amongst the manufacturers globally.
Additionally, environmental catalysts help manufacturers meet all the stringent mandates related to NOx, Sox, and carbon dioxide emissions. Shifting energy trends towards alternative fuels including biodiesel and shale gas fuel have propelled the demand for catalysts.
Gather more insights about the market drivers, restrains and growth of the Global Catalyst Market
Additionally, manufacturers seeking to add value to their feedstock or refining by producing value-added petrochemicals and chemicals such as methanol and polyolefins, have encouraged the demand for the product from petrochemicals and chemicals applications.
With the unprecedented outbreak of COVID-19, which has led to the closure of factories and manufacturing sites, there has been a significant decline in demand for oil, the first such instance in a decade. Additionally, the price war between Russia and KSA has led to a much decline in oil prices.
Global fuel demand is expected to drop by 15-10% in Q2, 2020 due to a halt in air travel and national lockdowns. A number of plants have been shut down and some are running but at reduced rates which may thus impact the market demand, especially in Iran, the U.S., China, India, France, Italy, and the U.K., which are some of the worst-hit economies.
Browse through Grand View Research's Catalysts Enzymes Industry Research Reports.
- Methanol Market - The global methanol market size was estimated at USD 31.81 billion in 2018 and is projected to accelerate at a CAGR of 2.9% from 2019 to 2025. Increasing consumption of methanol for the production of dimethyl ether and Methyl tert-butyl ether (MTBE), utilized as the alternatives for gasoline, is expected to propel the growth. DME is used as a fuel (diesel) in the passenger vehicle and aerosol propellant and is also blended in Liquefied Natural Gas (LNG).
- Polyolefin Market - The global polyolefin market size was estimated at 149.78 million tons in 2016. Increasing innovation in plastic technologies, the advent of cheap interior furnishings in automobiles, and strict industrial standards concerning carbon emissions have been key factors driving the industry. Polyethylene is the fastest growing product in terms of volume, expanding at a CAGR of 6.4% during the forecast period.
Catalyst Market Segmentation
Grand View Research has segmented the global catalyst market on the basis of raw material, product by application, and region:
Catalyst Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Chemical compounds
- Peroxides
- Acids
- Amines others
- Metals
- Precious metals
- Base metals
- Zeolites
- Others
Catalyst Product By Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Heterogeneous Catalyst
- Chemical synthesis
- Chemical catalysts
- Adsorbents
- Syngas production
- Others
- Petroleum refining
- FCC
- Alkylation
- Hydrotreating
- Catalytic Reforming
- Purification
- Bed grading
- Others
- Polymers and petrochemicals
- Ziegler Natta
- Reaction Initiator
- Chromium
- Urethane
- Solid Phosphorous Acid catalyst
- Others
- Environmental
- Light-duty vehicles
- Motorcycles
- Heavy-duty vehicles
- Others
- Homogeneous Catalyst
- Chemical synthesis
- Chemical catalysts
- Adsorbents
- Syngas production
- Others
- Petroleum refining
- FCC
- Alkylation
- Hydrotreating
- Catalytic Reforming
- Bed grading
- Purification
- Others
- Polymers and petrochemicals
- Ziegler Natta
- Reaction Initiator
- Chromium
- Urethane
- Solid Phosphorous Acid catalyst
- Others
- Environmental
- Light-duty vehicles
- Motorcycles
- Heavy-duty vehicles
- Others
- Chemical synthesis
- Chemical synthesis
Catalyst Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- North America
- Europe
- Asia Pacific
- South America
- Middle East Africa (MEA)
Market Share Insights
- November 2021: BASF SE partnered with Pentel to launch erasers made with non-phthalate plasticizers under brand alliance in the Japanese and global markets.
- October 2021: Albemarle Corp. introduced Action Plus catalyst technology, next-generation butylene yields, and gasoline octane.
- July 2021: Clariant International Ltd. successfully established a joint venture for renewable ethylene oxide derivatives with India Glycols.
Key Companies profiled:
Some prominent players in the global catalyst market include
- Albemarle Corporation
- Haldor Topsoe A/S
- BASF SE
- Evonik Industries AG
- LyondellBasell Industries Holdings B.V.
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