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Inorganic Catalyst Market Trends That Will Shape the Next Decade: Insights from Technology Advancements In The Inorganic Catalysts Market
Inorganic Catalyst
How Large Will the Inorganic Catalyst Market Size By 2025?
The scale of the inorganic catalyst industry has consistently expanded in previous years. The market is expected to rise from $26.81 billion in 2024 to $27.99 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 4.4%. The historical growth is largely due to changes in chemical production methods, increased attention to catalyst efficiency, industrial automation, expansion of global markets, and research and development.
How Big Is the Inorganic Catalyst Market Size Expected to Grow by 2029?
The market size for inorganic catalyst is predicted to experience robust expansion in the forthcoming years. It's projected to reach $34.58 billion by 2029, showing a compound annual growth rate (CAGR) of 5.4%. This growth during the predicted period can be credited to factors like industrial growth and expansion, increasing demand in the energy division, escalating demand for specialty chemicals and an emphasis on sustainable practices. Leading trends during this predicted period are digitization and automation in the industry, heightened environmental regulations, the shift towards green chemistry, an increased demand in the petrochemical industry, and developments in nanotechnology.
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Which Key Market Drivers Powering Inorganic Catalyst Market Expansion and Growth?
The inorganic catalysts market is predicted to experience growth due to the escalating demand for petroleum and petrochemical products. Petrochemicals, derived from petroleum and crude oil, frequently use inorganic catalysts like zeolite for improved yield and efficiency in their manufacturing processes. For example, The International Energy Agency (IEA), an intergovernmental organization based in France, reported in August 2023 that global oil demand surged by 2.2 million barrels per day (mb/d), bringing the total demand to around 102 mb/d. This surge is largely attributed to a robust revival in China's petrochemical sector, which is forecasted to contribute to nearly 60% of the demand increase. As such, the rise in demand for petroleum and petrochemical products fuels the growth of the inorganic catalysts market.
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Which Fast-Growing Trends Are Poised to Disrupt the Inorganic Catalyst Market?
The growth of technological innovations is a notable trend gaining traction in the inorganic catalysts market. To maintain their market standing, leading firms are rolling out pioneering technologies like the tri-metal catalyst technology. For example, Grace & Co, an American chemical firm, unveiled its PARAGONTM FCC catalyst technology in October 2023. This technology merges a novel, rare-earth-based Vanadium (V) trap with high matrix surface area FCC unit catalytic solutions. Leveraging the PARAGONTM technology, refiners gain the ability to broaden their FCC operating scope and enhance their adaptability to process diverse feedstock for improved profitability.
What Are the Emerging Segments in the Inorganic Catalyst Market?
The inorganic catalyst market covered in this report is segmented -
1) By Type: Zeolites, Metals, Chemical Compounds, Other Types
2) By Process: Recycling, Regeneration, Rejuvenation
3) By Applications: Petroleum Refining, Chemical Synthesis, Polymers And Petrochemicals, Environmental
Subsegments:
1) By Zeolites: Natural Zeolites, Synthetic Zeolites
2) By Metals: Noble Metals, Base Metals
3) By Chemical Compounds: Metal Oxides, Salts And Coordination Compounds
4) By Other Types: Heterogeneous Catalysts, Homogeneous Catalysts, Mixed Catalysts
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Who Are the Global Leaders in the Inorganic Catalyst Market?
Major companies operating in the inorganic catalyst market include 3M Company, Ahlstrom-Munksjö Oyj, Lydall Performance Materials India LLP, Nordic Air Filtration A/S, Sandler AG, Sefar AG, Freudenberg Filtration Technologies India Private Limited, Eaton Corporation Public Limited Company., Donaldson Company Inc., Alfa Laval India Private Limited, Lenntech B.V, W.L. Gore & Associates Inc., Hengst SE & Co. KG., BASF SE, Johnson Matthey plc, W.R. Grace & Co., Clariant AG, Albemarle Corporation, Evonik Industries AG, Solvay S.A., Cataler Corporation, Umicore N.V., Axens S.A., Haldor Topsoe A/S, JGC C&C Co. Ltd., Zeolyst International Inc., Ceramisphere Pty Ltd., Applied Catalysts LLC, CRI Catalyst Company LP, KNT Group, INTERCAT Inc., Silbond Corporation, SACHEM Europe B.V.
Which are the Top Profitable Regional Markets for the Inorganic Catalyst Industry?
Asia-Pacific was the largest region in the inorganic catalyst market share in 2024. The regions covered in the inorganic catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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