Press release
Inorganic Catalyst Market is Anticipated to Expand upto $33.58 Billion in 2029
Inorganic Catalyst
What Is the Forecasted Market Growth Rate of the Inorganic Catalyst Industry?
The market size for inorganic catalysts has been experiencing a stable rise in the past few years. There will be an increase from $26.81 billion in 2024 to $27.6 billion in 2025, displaying a compound annual growth rate (CAGR) of 3.0%. This growth during the historic timeframe could be credited to changes in chemical production methods, enhancement in catalytic efficiency, implementation of industrial automation, worldwide market proliferation, and intensive research and development.
How Will the Inorganic Catalyst Market Size Evolve From 2025 to 2029?
Expectations are high for considerable expansion in the inorganic catalyst market over the coming years. It's predicted that the market will amplify to $33.58 billion in 2029, increasing at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth during the forecast period can be ascribed to various factors including industrial growth and expansion, increased demand in the energy sector, a surge in the demand for specialty chemicals, and a concentration on sustainable practices. Key future trends impacting this period are industry digitization and automation, heightened environmental regulations, the move towards sustainable chemistry, growing demand in the petrochemical industry, and advancements in nanotechnology.
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What Are the Main Growth Drivers in the Inorganic Catalyst Market Today?
The inorganic catalysts market is poised to grow due to the increasing need for petroleum and petrochemical products. Petrochemicals are essentially chemical products extracted from crude oil and petroleum. Inorganic catalysts like zeolite are heavily utilized in petrochemical production to enhance yield and efficiency. For instance, in August 2023, the International Energy Agency (IEA), an intergovernmental organization based in France, reported a rise in global oil demand by 2.2 million barrels per day (mb/d), making the total demand approximately 102 mb/d. This surge is mainly attributed to a strong revival in China's petrochemical industry, expected to represent nearly 60% of the demand growth. Therefore, the escalating need for petroleum and petrochemical products is fueling the advancement of the inorganic catalysts market.
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Which Inorganic Catalyst Market Segment Is Expected to Lead Through 2029?
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
Which Market Trends Are Expected to Dominate Inorganic Catalyst Industry Growth?
In the market for inorganic catalysts, technological advancements are becoming a significant growing trend. To maintain their market position, leading companies introduce groundbreaking technologies such as the tri-metal catalyst technology. For example, Grace & Co, an American chemical firm, unveiled the PARAGONTM FCC catalyst technology in October 2023. This novel technology merges a unique, Vanadium (V) trap that is based on rare-earth into FCC unit catalytic solutions with a high matrix surface area. The implementation of the PARAGONTM technology equips refiners with the capability to broaden their FCC operating window. Additionally, it enhances their adaptability to process various feedstock forms, leading to boosted profitability.
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Which Companies Hold the Largest Market Share in the Inorganic Catalyst Sector?
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.
Where Is the Inorganic Catalyst Market Experiencing the Highest Growth?
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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