Chemical Catalyst Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Chemical Catalyst Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
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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Market Segmentation:
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

Major Driver - Growth In The Chemicals Industry Is Anticipated To Drive The Chemical Catalyst Market
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.

Competitive Landscape:
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.

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