Chemical Catalyst Global Market Size, Share, Emerging Trends, Key Growth, Challenges and Forecast By 2033 | Evonik Industries AG, Solvay S.A., Clariant AG, UOP LLC

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.

Market Overview -
A chemical catalyst refers to a substance that accelerates the rate of a chemical reaction without itself undergoing any permanent chemical change. Catalysts are used in various industrial processes to enhance the efficiency and yield of reactions.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=13403&type=smp

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.

CircleStar Catalyst Revolutionizing Renewable Feedstock Processing for Sustainable Chemical Production
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.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/chemical-catalyst-global-market-report

Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model "

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.