Soaring Demand Set to Propel Industrial Catalyst Market to $31.83 Billion by 2029

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What Is the Expected CAGR for the Industrial Catalyst Market Through 2025?
There has been a robust growth in the industrial catalyst market size in the last few years. It is projected to rise from $25.47 billion in 2024 to $26.96 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.8%. The surge in the historic period is credited to the progression of industrialization and manufacturing, enhancements in chemical practices, growth in environmental rules and regulations, the broadening of the petrochemical and refining sectors, and the demand for purer and more efficient manufacturing techniques.

What's the Projected Size of the Global Industrial Catalyst Market by 2029?
Anticipations suggest that the industrial catalyst market is likely to experience a consistent surge in the upcoming years, with its predictions reaching $31.83 billion by 2029 through an annual compound growth rate of 4.2%. Possible causatives for this anticipated growth within the forecast period can include the rise in demand for eco-friendly and sustainable chemistry methods, the expansion in biotechnology and pharmaceutical sectors, the advancements in renewable energy technologies along with an enhanced focus on fuel cell technology and hydrogen economy and the introduction of new applications in blossoming markets. During this period, we can expect some prominent trends such as the implementation of catalytic converters for emission management within automotive and industrial sectors, developing catalysts to capture and utilize carbon, the use of catalysts in the production of bio-based plastics, incorporating nanotechnology techniques in the design and development of catalysts, and focusing on circular economy principles for recycling and reusing catalysts.

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Top Growth Drivers in the Industrial Catalyst Industry: What's Accelerating the Market?
The escalation in the petroleum industry is projected to stimulate the industrial catalyst market's expansion. The scope of the petroleum industry, which includes the hunting, mining, refining, and promotion of petroleum products, is vast. Catalysts play a critical role in hydroprocessing units, engaged in the hydrotreatment to eliminate sulfur and nitrogen impurities from crude oil fractions for superior refined product quality, and hydrocracking to decompose heavy hydrocarbon into lighter ones to enhance the output of valuable products. For example, a report by the France-based intergovernmental organization, the International Energy Agency, made public in August 2023, stated that global oil demand would rise by 6% between 2022 and 2028, reaching 105.7 million barrels per day, fuelled by significant demand from the petrochemical and aviation sectors. Moreover, upstream investments in locating, extracting, and producing oil and gas are predicted to hit their maximum in 2023, culminating in an annual growth of 11% to USD 528 billion. Therefore, the burgeoning expansion of the petroleum industry is fuelling the growth of the industrial catalyst market.

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What Trends Will Shape the Industrial Catalyst Market Through 2029 and Beyond?
Leading enterprises in the industrial catalyst market like BASF SE, a Germany-based firm, are embracing innovative technologies such as additive manufacturing techniques or 3D printing, to provide customers with improved services and features. 3D printing involves the creation of three-dimensional objects through a layered or sequential addition of material. Notably, in September 2022, BASF SE introduced the X3D technology, notable for its unique feature in additive manufacturing for catalysts, which largely centers around its 3D printing capabilities. Catalysts produced with this technology present an open structure, resulting in lessened pressure drop across the reactor and a significant rise in surface area, which in turn improves catalyst performance. BASF SE, having the capacity to provide commercial quantities, offers a greater degree of flexibility in catalyst design compared to conventional production methods. Through this cutting-edge technology, BASF SE enhances catalyst performance and enables customization to meet specific customer conditions and requirements, such as designing infill patterns, deciding fiber diameter and orientation. Ultimately, the X3D technology equips customers with the ability to achieve enhanced reactor productivity, superior product quality, and reduced energy usage.

What Are the Main Segments in the Industrial Catalyst Market?
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

Subsegments:
1) By Heterogeneous Catalysts: Metal-Based Catalysts, Metal Oxide Catalysts, Supported Catalysts
2) By Homogeneous Catalysts: Organometallic Catalysts, Acid-Base Catalysts, Coordination Complex Catalysts
3) By Biocatalysts: Enzymes, Microbial Catalysts, Cell-Based Catalysts

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Which Top Companies are Driving Growth in the Industrial Catalyst Market?
Major companies operating in the industrial catalyst market report are 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

Which Regions Will Dominate the Industrial Catalyst Market Through 2029?
Asia-Pacific was the largest region in the industrial catalyst market in 2024. The regions covered in the industrial catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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