Press release
2024 Global Market Overview: Industrial Catalysts and Their Impact
Industrial Catalyst Market Size
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Report Coverage & Details:
• Forecast Period: 2024-2033
• Base Year: 2023
• Market Size In 2024: $25.47 billion
• Revenue Forecast In 2033: $30.59 billion
• CAGR: 4.7%
Global Industrial Catalyst Market: Segmentation
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
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Industrial Catalyst Market Report: Growth Drivers
The ongoing expansion of the petroleum industry is expected to enhance the industrial catalyst market's growth in the future. The petroleum industry, also known as the oil and gas sector, includes the exploration, extraction, refining, and marketing of petroleum products. Catalysts play a crucial role in hydroprocessing units, which involve hydrotreating to eliminate sulfur and nitrogen impurities from crude oil fractions to enhance product quality, as well as hydrocracking, which breaks down heavier hydrocarbons into lighter ones to increase the yield of valuable products. For instance, in August 2023, a report from the International Energy Agency, a France-based intergovernmental organization, projected that global oil demand would increase by 6% between 2022 and 2028, reaching 105.7 million barrels per day, driven by robust demand from the petrochemical and aviation sectors. Additionally, upstream investments in oil and gas exploration, extraction, and production are anticipated to peak in 2023, with a year-on-year growth of 11%, reaching USD 528 billion. Therefore, the expansion of the petroleum industry is fueling the growth of the industrial catalyst market.
Key Developments:
Standard Industries Enhances Market Position With Acquisition Of W. R. Grace & Co.
In September 2021, Standard Industries Holdings Inc., a US-based industrial company, acquired W. R. Grace & Co. for an undisclosed amount. With this acquisition, Standard Industries is going to be better positioned to take advantage of the rising market for cutting-edge, sustainable solutions. W. R. Grace & Co. is a US-based manufacturer of industrial catalysts.
Top Market Leader Included:
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
Industrial Catalyst Industry: Regional Landscape
Asia-Pacific was the largest region in the industrial catalyst market in 2023. The regions covered in the industrial catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the industrial catalyst market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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What Does The Global Industrial Catalyst Market Report Include?
1.Introduction
• Overview of the Industrial Catalyst Market
• Comprehensive Analysis of Industrial Catalyst Market
2. Industrial Catalyst Market Drivers and Restraints
• Drivers and Restraints For Historic And Forecast Period
3. Industrial Catalyst Market Segmentation
• By Drug Class
• By Indication
• By Distribution Channel
4. Competitive Landscape And Company Profiles In The Industrial Catalyst Market
• Overview
• Products and Services
• Strategy
5. Industrial Catalyst Market Regional And Country Analysis
• By Region
• By Country
6. Market Trends And Opportunities In Industrial Catalyst Market
• Technological Advancements
• Emerging Trends
7. Industrial Catalyst Market Future Outlook and Potential Analysis
• Growth Strategies
• New Opportunities
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