Growth in Sales of Hydrogenation Catalyst Market to Push Revenue Growth in the Global Market

Hydrogenation catalysts are used in industries that use a main metal along with a promoter and/or inhibitor. Promoters are additives that enhance the activity, stability and processability of the metallic hydrogenation catalyst. Inhibitors or poisons are added to reduce or control the catalytic activity of the hydrogenation catalyst. Hydrogenation catalysts are prominently used in the oil & gas industry for hydroprocessing (hydrotreating and hydrocracking processes) and are prominently metal – based catalysts.
Based on form, homogeneous hydrogenation catalysts offer several advantages over their heterogeneous counterparts. Their higher solubility leads to the use of each molecule for the hydrogenation reaction and hence, these catalysts utilize low volumes. In case of heterogeneous hydrogenation catalysts, only the surface is available for the reaction, which limits its selectivity. The choice of the base metal in a hydrogenation catalyst is also quite crucial and the addition of promoters and inhibitors is mandatory during the manufacturing of a hydrogenation catalyst.

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Hydrogenation Catalyst Market: Dynamics
The Hydrogenation Catalyst market is a highly consolidated market and there is high competition among the few market participants who operate in the market. Hence, research & development investments are estimated to drive the market due to the introduction of novel products, manufacturing processes and/or application processes. Hydrogenation catalysts producers engaged in research & development activities are also seen to have a competitive edge as they are able to offer customized products to end users in order to meet their specific requirements. The regeneration of a catalyst also plays a significant role in its consumption and hence, the hydrogenation catalyst manufacturers work closely with end-use industries to gain knowledge about the processes employed.
However, owing to the slowdown in the global financial growth, end-use industries have suffered and are posing obstacles to the growth of the hydrogenation catalyst market. The catalysts industry is under strict scrutiny from the environmental authorities. With the introduction of “Energy and GHG Reductions in the Chemicals Industry via Catalytic Processes, 2013”, technology roadmap by ICCA/DECHEMA/IEA, the introduction of greener hydrogenation catalysts or processes producing lesser GHGs can be expected in near future.

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Several hydrogenation catalyst producers are adhering to their strategy of expansion in order to meet the growing market demand. Considering the market scenario, such activities are not expected to lead to overcapacities in the production of hydrogenation catalyst, but will largely impact the growth of the market owing to the increasing demands for hydrogenation catalysts, prominently in the oil & gas sector. The manufacturers are supplying engineered products that remain unaffected by the common impurities present in the feedstock. With the specialized products priced higher, the small scale players in the chemical industry are preferring common hydrogenation catalysts that can be used for a variety of feedstock options.
Hydrogenation Catalyst Market: Segmentation
The global hydrogenation catalyst market can be segmented on the basis of product type, process type, form and end use.
On the basis of product type, the global hydrogenation catalyst market can be segmented into:
• Precious Metal based Hydrogenation Catalyst
o Platinum
o Palladium
o Ruthenium
o Rhodium & Others
• Common Metal based Hydrogenation Catalyst
o Nickel
o Cobalt
o Copper & Others
• Alloys and Other Compounds based Hydrogenation Catalyst
On the basis of process type, the global hydrogenation catalyst market can be segmented into:
• Oleochemical Hydrogenation Process
• Industrial Hydrogenation Process
• Other Hydrogenation Processes
On the basis of form, the global hydrogenation catalyst can be segmented into:
• Heterogeneous Hydrogenation Catalyst (Insoluble Catalyst)
• Homogeneous Hydrogenation Catalyst (Soluble Catalyst)
On the basis of end use, the global hydrogenation catalyst can be segmented into:
• Chemical
• Oil & Gas
o Refining
o Petrochemicals
• Pharmaceutical
• Polymer

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