Precious Metal Catalyst Market Size to Boost USD 33.79 Billion By 2032 | CAGR 5.7% - Published by Emergen Research

The global precious metal catalyst market size was USD 19.41 Billion in 2022 and is expected to register a steady revenue CAGR of 5.7% during the forecast period, according to latest analysis by Emergen Research. Rising environmental concerns and regulations is primary key factor driving market revenue growth. Precious metal catalysts can be recycled and reused, which reduces waste and decreases the requirement for fresh catalyst manufacture. These catalysts are frequently made from recycled materials, which as a result minimizes the environmental effect, which enable faster production rates and higher product yields. Precious metals are also used in catalytic converters to reduce harmful emissions, such as nitrogen oxides, carbon monoxide, and unburned hydrocarbons, in vehicle exhaust.

In addition, rising demand for precious metal catalysts in the automotive industry is another key factor driving revenue growth of the market. Precious metals have a higher melting point than base metals as a result, these might accelerate various hydrogenation and oxidation reactions at high temperatures and in harsh environments, and hence are utilized in the automotive industry to treat exhaust gases.

The report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.

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Drivers of the Precious Metal Catalyst Market :

One of the primary drivers of growth in the precious metal catalyst market is the escalating demand for clean energy solutions. As nations strive to reduce their carbon footprint, there is a growing emphasis on renewable energy sources such as hydrogen fuel cells. Precious metal catalysts, particularly platinum, palladium, and rhodium, are indispensable components in these fuel cells, driving their demand in the market.

Restraints Impacting the Precious Metal Catalyst Market :

Despite the optimistic growth prospects, the precious metal catalyst market is not without its challenges. One of the prominent restraints is the volatility in raw material prices, particularly for precious metals like platinum and palladium. Fluctuations in prices can significantly impact production costs, posing challenges for manufacturers and potentially affecting market growth.

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The report also discusses the key players involved in the market such as:

Johnson Matthey, BASF SE, Heraeus Group, CLARIANT, Evonik, TANAKA Holdings Co., Ltd, Solvay, Vineeth Precious Catalysts Pvt. Ltd, American Elements, Axens, Topsoe, Catalytic Products International, SACHEM, INC., Fuel Tech Inc., ALS, CHIMET, J&J MATERIALS, ReMetall Deutschland AG, Sabin Metal Corporation, and Souvenier Chemicals.

The report provides a thorough estimation of the overall impact of the pandemic on the Precious Metal Catalyst Market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Precious Metal Catalyst Market

Precious Metal Catalyst Latest Industry News

On 10 March 2020, BASF SE announced the successful development and testing of a unique Tri-Metal Catalyst technology that allows for the partial substitution of high-priced palladium with lower-priced platinum in light-duty petrol vehicles without breaching emissions regulations. BASF's research and testing of this innovative technology resulted in a satisfactory meeting of technical customer demands.

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Precious Metal Catalyst Market Segment Analysis :

For the purpose of this report, Emergen Research has segmented the global precious metal catalyst market on the basis of type of precious metal, application, end-use, catalyst manufacturing, distribution channel, and region:

Type of Precious Metal Outlook (Revenue, USD Billion; 2019-2032)
Platinum Catalysts
Palladium Catalysts
Rhodium Catalysts
Gold Catalysts
Others
Application Outlook (Revenue, USD Billion; 2019-2032)
Emission Control Catalysts
Chemical Synthesis Catalysts
Fuel Cell Catalysts
Pharmaceutical Catalysts
Petrochemical Catalysts
Environmental Catalysts
Electronics Catalysts
Others
End-use Outlook (Revenue, USD Billion; 2019-2032)
Automotive
Chemical and Petrochemical
Pharmaceuticals
Oil & Gas (O&G)
Electronics
Energy
Environmental
Food & Beverage (F&B)
Others
Catalyst Manufacturing Method Outlook (Revenue, USD Billion; 2019-2032)
Chemical Vapor Deposition (CVD)
Physical Vapor Deposition (PVD)
Sol-Gel Method
Impregnation
Electrodeposition
Others
Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)
Direct Sales
Distributors
Online Retail
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa

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