What Has Been the Growth of the Industrial Catalyst Market So Far?
The industrial catalyst market has seen considerable growth due to a variety of factors.
• Over the past few years, the industrial catalyst market has seen significant expansion. The estimated increase from $25.47 billion in 2024 to $26.96 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%, demonstrates this.
The historic period's growth is tied to industrial and manufacturing development, progress in chemical procedures, a rise in environmental laws, the enlargement of petrochemical and refining industries, and a need for purer and more efficient manufacturing processes.
How Will the Industrial Catalyst Market?
The industrial catalyst market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the industrial catalyst market is predicted to experience persistent growth, eventually reaching a value of $31.83 billion in 2029, with a compound annual growth rate (CAGR) of 4.2%.
The expected growth within the forecast period is due to a rise in the need for sustainable and green chemistry solutions, growth in the biotechnology and pharmaceutical sectors, advancements in renewable energy technology, increasing emphasis on hydrogen economy and fuel cell technology, as well as new application emergence in developing markets. The forecast period likely sees trends such as the integration of catalytic converters for emission control in the automotive and industrial sectors, the development of catalysts for carbon capture and usage, use of catalysts in the production of bio-based plastics, incorporation of nanotechnology in the design and development of catalysts, and a focus on the principles of a circular economy in the recycling and reusability of catalysts.
Which Factors Are Boosting Growth In The Industrial Catalyst Market?
The anticipated growth of the industrial catalyst market is closely tied to the ongoing expansion of the petroleum industry. This industry, which includes oil and gas, is involved in the discovery, extraction, refinement, and distribution of petroleum products. Catalysts play an integral role in hydroprocessing units, where they help purify crude oil fractions by eliminating sulfur and nitrogen impurities, consequently enhancing the quality of the refined product. They also assist in hydrocracking, which is the process of converting heavy hydrocarbons into lighter ones to boost the production of valuable products. As an example, a report from the France-based International Energy Agency in August 2023 suggested that between 2022 and 2028, it is predicted that global oil demand will ramp up by 6%, reaching 105.7 million barrels per day. This growth is mainly fueled by high demand from the petrochemical and aviation sectors. Moreover, the peak of upstream investments in oil and gas exploration, extraction, and production is expected in 2023, representing a year-on-year growth of 11%, amounting to USD 528 billion. It's clear then that the expanding petroleum industry serves as a key driver for the growth of the industrial catalyst market.
What Key Areas Define The Segmentation Of The Global Industrial Catalyst Market?
The industrial catalyst market covered in this report is segmented –
1) By Type: Heterogeneous Catalysts, Homogeneous Catalysts, Biocatalysts
2) By Material: Metal, Chemical, Zeolites, Organometallic
3) By Application: Petroleum Refinery, Chemical Manufacturing, Petrochemicals, Food Processing, Automotive And Transportation, Other Applications
Subsegments:
1) By Heterogeneous Catalysts: Metal-Based Catalysts, Metal Oxide Catalysts, Supported Catalysts
2) By Homogeneous Catalysts: Organometallic Catalysts, Acid-Base Catalysts, Coordination Complex Catalysts
3) By Biocatalysts: Enzymes, Microbial Catalysts, Cell-Based Catalysts
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How Are Emerging Trends Reshaping The Dynamics Of The Industrial Catalyst Market?
Major businesses operating in the industrial catalyst market, such as BASF SE, are expanding their technological capabilities by adopting advanced technologies like additive manufacturing to improve customer experience with innovative features. Example of one such technology is 3D printing, which involves constructing three-dimensional artifacts by adding materials systematically. Innovative X3D technology was essentially launched by BASF SE, a German industrial catalyst producer in September 2022. This 3D printing-based technology has significantly transformed the manufacturing of catalysts by furnishing them with an open structure that reduces pressure drop across the reactor while exponentially increasing surface area - thus boosting catalyst performance. Notably, BASF SE can mass-produce catalysts using this technology and provides more design versatility than conventional manufacturing processes. This leads to improved catalyst performance, enabling personalization according to individual customer conditions and requirements, which include the devising of infill patterns, fiber diameter, and orientation. Ultimately, the X3D technology allows clients to attain superior reactor output, enhanced product quality, and reduced energy consumption.
Who Are the Key Players In The Industrial Catalyst Market?
Major companies operating in the industrial catalyst market report are:
• Sinopec
• BASF SE
• The DOW Chemicals Company
• Lyondellbasell Industries Holdings B.V.
• Honeywell International Inc.
• Ineos Group Limited
• Johnson Matthey PLC
• Evonik Industries AG
• Chevron Philips Chemical Company
• Arkema S.A.
• Albemarle Corporation
• Dorf Ketal Chemicals India Pvt. Ltd.
• Clariant AG
• Umicore N.V.
• ExxonMobil Chemical
• W. R. Grace and Co.
• Axens SA
• Topsoe A/S
• Akzo Nobel N.V
• Criterion Catalysts & Technologies
• KNT Group
• Zeolyst International
• Anten Chemical Co. Ltd.
• JGC Catalysts and Chemicals Ltd.
• Univation Technologies LLC
What Is The Most Dominant Region In The Industrial Catalyst Market?
Asia-Pacific was the largest region in the industrial catalyst market in 2024. The regions covered in the industrial catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
