Catalyst Industry Data Book - Heterogeneous Catalyst and Homogeneous Catalyst Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030
The global Catalyst Industry was valued at 7,967 kilotons in 2022 and is anticipated to increase at a significant CAGR of 4.3% from 2023 to 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.
Heterogeneous Catalyst Market Insights
The global heterogeneous catalyst market size was valued at 5,875.3 kilotons in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.2% 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.
The U.S. is a major player in the petroleum refining industry, and heterogeneous catalysts are extensively used to improve the efficiency and yield of refining processes. Product such as zeolites, which are composed of alumina and silica, find applications in catalytic cracking, isomerization, and reforming processes.
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Homogeneous Catalyst Market Insights
The global homogeneous catalyst market size was valued at USD 2,091.7 kilotons in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.6% 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.
Go through the table of content of Catalyst Industry Data Book to get a better understanding of the Coverage & Scope of the study
Catalyst Industry Data Book Competitive Landscape
The catalyst market operates within a highly competitive environment, driven by the ever-growing demand for efficient and sustainable chemical processes across various industries. The market is characterized by intense rivalry among key players, including multinational corporations, specialty chemical companies, and research institutions.
Key players operating in the Catalyst Industry are:
- Albemarle Corporation
- Haldor Topsoe A/S
- BASF SE
- Evonik Industries AG
- LyondellBasell Industries Holdings B.V.
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