The chemical catalyst global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Chemical Catalyst Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The chemical catalyst market size has grown strongly in recent years. It will grow from $37.22 billion in 2023 to $39.75 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to petrochemical industry growth, expanding chemical manufacturing, environmental regulations and emission control, increasing demand for clean energy, growth in refinery activities.
The chemical catalyst market size is expected to see strong growth in the next few years. It will grow to $49.57 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increased investment in renewable energy, growing demand for specialty chemicals, rise in adoption of hydrogen economy, stringent emission standards, expansion of chemical and petrochemical industries in developing regions. Major trends in the forecast period include technological advancements in catalysis, transition to green and sustainable technologies, advancements in catalytic technologies, rising importance of nanocatalysts, shift towards bio-based catalysts.
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Scope Of Chemical Catalyst Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Chemical Catalyst Market Overview
Market Drivers –
The expansion of the chemical industry is expected to propel the growth of the chemical catalyst market going forward. The chemical industry refers to a sector that encompasses a series of activities, procedures, and entities focused on producing chemicals and related products. Chemical catalysts are used in numerous industrial procedures where chemical reactions transform raw materials into valuable products. They are essential in the production of various fine and specialty chemicals. For instance, in February 2023, according to the Chemistry Industry Association of Canada, a Canada-based association representing the chemistry industry, Canada’s Chemicals Industry reported a record $30.8 billion in shipments in 2022, marking an 11.2% increase from 2021. Additionally, exports reached a record high of $24.8 billion by the end of 2022, reflecting an 11.5% growth compared to the prior record in 2021. Therefore, the expansion of the chemical industry is driving the chemical catalyst market.
Market Trends –
Major companies operating in the chemical catalyst market focus on product innovation to produce advanced products, such as, CircleStar catalyst, designed to process renewable feedstocks and achieve 99.5% selectivity for the ethanol-to-ethylene (E2E) conversion. The CircleStar catalyst contributes to transforming the chemical industry to climate neutrality. It supports net-zero targets, and the unique star shape of the CircleStar catalyst maximizes the active geometrical surface area for the reaction, leading to better mass transfer and a longer catalyst lifetime. For instance, in September 2022, BASF SE, a Germany-based chemicals company, launched a new product called CircleStar catalyst, which is designed to decrease the CO2 footprint in the bio-ethylene value chain for products ranging from jet fuel to plastics. The novel star-shaped catalyst operates at a temperature of more than 25°C lower than conventional processes, helping to decrease the carbon footprint in the bio-ethylene value chain for products ranging from jet fuel to plastics by more than 10 percent while keeping the same performance.
The chemical catalyst market covered in this report is segmented –
1) By Type: Homogeneous, Heterogeneous, Heterogenized Homogeneous Catalyst, Biocatalyst
2) By Material: Metal And Metal Oxides, Zeolites, Chemical Compound
3) By Application: Petrochemicals, Chemical Synthesis, Environmental Catalysis, Polymerization, Refining, Pharmaceuticals, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the chemical catalyst market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chemical catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the chemical catalyst market report are China Petroleum & Chemical Corporation, Royal Dutch Shell Public Limited Company, ExxonMobil Corporation, BASF SE, Dow Inc., LyondellBasell Industries N.V., Heraeus Group, INEOS Group Holdings S.A., Johnson Matthey plc, Evonik Industries AG, Solvay S.A., DuPont de Nemours Inc., Akzo Nobel N.V., Arkema S.A., Sumitomo Metal Mining Co., Ltd., Albemarle Corporation, Clariant AG, Chevron Phillips Chemical Company LLC, Umicore N.V., JGC Catalysts and Chemicals , W.R. Grace & Co., Criterion Catalysts & Technologies L.P., Haldor Topsoe A/S, Dorf Ketal Chemicals India Private Limited, Tronox Holdings Plc , UOP LLC, Axens S.A., Nett Technologies Inc., Davison Chemical Co. Ltd., Vineeth Precious Catalysts Pvt. Ltd.
Table of Contents
1. Executive Summary
2. Chemical Catalyst Market Report Structure
3. Chemical Catalyst Market Trends And Strategies
4. Chemical Catalyst Market – Macro Economic Scenario
5. Chemical Catalyst Market Size And Growth
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27. Chemical Catalyst Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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