Catalyst Market Is Expected To Boost Due To Escalating Demand For Catalysts Till 2027

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. 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.

Gather more insights about the market drivers, restrains and growth of the Global Catalyst Market

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

Catalyst Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• North America

• Europe

• Asia Pacific

• South America

• Middle East & Africa (MEA)

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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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.