Global Precious Metal Catalysts Market: Surging at a CAGR of 7.5% to Reach $23.26 billion by 2029

"
Driven by Demand in Automotive Sector and Prospects in Pharmaceuticals

What Is The Projected Market Size Of The Global Precious Metal Catalysts Market And Its Growth Rate?

• The precious metal catalysts market was worth $16.34 billion in 2024 and is projected to reach $17.41 billion in 2025, expanding at a CAGR of 6.5%. Reasons for this growth include increased economic prosperity in emerging markets, a growing demand for palladium catalysts, and an increase in the use of precious metal catalysts in the pharmaceutical industry.
• Moving out to 2029, the market is expected to continue its strong growth, reaching $23.26 billion, a CAGR of 7.5%. The forecast period's growth can be linked to government support, increased usage of platinum catalysts in fuel cells, and an uptick in the use of precious metal catalysts in the automotive sector.

What Is Driving The Growth In The Precious Metal Catalysts Market?

The precious metal catalyst market is being propelled by increasing demand in the automotive industry. The application of precious metal catalysts in fuel cell-driven vehicles, electric vehicle cathode materials, and automotive catalysts is driving this growth. Precious metals play a crucial role in the expanding automotive sectors by enabling the development of advanced products for electric vehicles and fuel-cell vehicles. Notably, the Russian mining and smelting firm 'Nornickel' reported in February 2022 that demand for palladium in the automotive industry increased by 0.6% in 2022 compared to 2021.

Request A Free Sample Copy:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7644&type=smp

Who Are The Key Players Driving Precious Metal Catalysts Market Growth?

Key players driving the growth of the precious metal catalysts market include:
• Johnson Matthey Plc
• BASF SE
• Heraeus Holding
• Evonik Industries AG
• Umicore SA
• Sino-Platinum Metals Co., Ltd
• Kaili Catalyst & New Materials Co Ltd
• Clariant International Ltd
• Alfa Aesar
• Shaanxi kai Da chemical co. LTD
• Sud-Chemie India Pvt. Ltd.
• Indian Platinum Pvt. Ltd.
• Xi'an Catalyst Chemical Co., Ltd.
• Vineeth Precious Catalysts Pvt. Ltd.
• Zibo Jiulong Chemical Co., Ltd
• Haldor Topsøe
• Thermo Fisher Scientific
• AlS Globsl
• Stanford Advanced Material
• Hindustan Platinum
• Tanaka Kikinzoku International America Inc.
• Specialty Metals Smelters & Refiners, LLC
• J & J Materials, Inc.
• Molecular Products, Inc.
• CDTi Advanced Materials Inc.
• Metal & Catalyst Resources
• Mottcorp
• Dorf Ketal
• AB Enterprises
• Metalor
• Petra Precious Metals Recycling
• Nobilis PGM

What Are The Key Trends In The Precious Metal Catalysts Market?

Major trends in the precious metal catalysts market include:
• Developments of new technologies and product solutions to strengthen market position
• Strategic collaborations and acquisitions to improve financial strength, product portfolio, and geographical presence
• Potential investments in production capacities to develop new product solutions and to satisfy the growing demand for precious metal catalysts
• Emphasis on product innovations

What Are The Segments Of The Global Precious Metal Catalysts Market?

• By Type: Platinum, Palladium, Rhodium, Iridium, Ruthenium, Other Types
• By Reaction Type: Hydrogenation, Asymmetric Hydrogenation, Reductive Amination, Alkylation, Carbonylation, Other Reaction Types
• By Application: Automotive, Refining, Petrochemical, Oil And Mining, Other Applications

Which Region Leads The Precious Metal Catalysts Market?

Asia-Pacific was the largest region in the precious metal catalyst market in 2024 and is projected to be the fastest-growing region during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Pre-book the Report for Swift Delivery:
https://www.thebusinessresearchcompany.com/report/precious-metal-catalysts-global-market-report

What Is Covered In The Precious Metal Catalysts Market Global Market Report?

- Market Size Analysis: Analyze the Precious Metal Catalysts Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Precious Metal Catalysts Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Precious Metal Catalysts Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Precious Metal Catalysts Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Request Customization for This Report:
https://www.thebusinessresearchcompany.com/customise?id=7644&type=smp

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
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

"Learn More About The Business Research Company
The Business Research Company offers comprehensive, data-rich research and insights. With over 15,000+ reports from 27 industries covering 60+ geographies and armed with 1,500,000 datasets, it thrives on in-depth secondary research and unique insights from industry leaders for informed decision-making. The Global Market Model (GMM) remains its premier market intelligence platform delivering comprehensive and updated forecasts."

This release was published on openPR.