Global chemical processing catalysts market analysis and insights
The global market for Chemical Processing Catalysts estimated at US$14.2 billion in the year 2023, is projected to reach US$20.5 billion by 2030, driven by the increasing demand for cleaner fuels and environmentally friendly chemical processes. With stringent environmental regulations and the push for reducing greenhouse gas emissions, there is a growing need for catalysts that enable more efficient and sustainable production methods in industries such as petrochemicals, refining, and chemicals manufacturing. Catalysts play a crucial role in enhancing the efficiency of chemical reactions, thereby reducing energy consumption and minimizing waste production.
Moreover, advancements in catalyst technology are creating new growth opportunities in the market. Innovations such as nanocatalysts, which offer higher surface area and improved catalytic activity, are being developed to meet the evolving needs of various end-use industries. Additionally, the increasing focus on renewable energy sources and bio-based chemicals is driving the demand for catalysts that can facilitate the conversion of biomass into valuable chemicals and fuels. The rise in investments in R&D by major industry players to develop advanced catalysts that improve process efficiencies and product yields further underscores the future growth potential of the chemical processing catalysts market.
Furthermore, the integration of digital technologies and artificial intelligence (AI) in catalyst development and process optimization is opening new avenues for growth. This technological integration is expected to accelerate innovation and enhance the competitive edge of companies operating in the chemical processing catalysts market. The growing emphasis on circular economy practices, which focus on recycling and reusing materials, also provides opportunities for catalyst manufacturers to develop solutions that enable more sustainable and efficient chemical processes.
Chemical processing catalysts regional market insights
North American chemical processing catalysts market is expected to grow significantly over the forecast period 2023-2030. This growth can be attributed to the increasing use of high-performance catalysts for pushing up process yields in polymer and chemical industries in the region. United States contributed around 79% of the total North American chemical processing catalysts market, with a market size of US$3.9 billion in 2023. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 4.2% and 3.5% respectively over the forecast period.
Asia-Pacific region commands the largest share of the market, primarily owing to the large concentration of chemical production in the region. In addition, the trend of shifting chemical production to Asian countries from developed markets is continuing, resulting in the Asia-Pacific region forecast to emerging as the fastest growing market with a CAGR of 6.8% over the analysis period. China is expected to dominate the Asia-Pacific market and reach a market size of US$4.6 billion by 2030.
Within Europe, Germany, France, Italy and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 5.8% over the forecast period.
Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.
Key players
Key players profiled in the report include Air Products and Chemicals, Inc.; Albemarle Corporation; BASF Catalysts LLC; Clariant International; Evonik Industries AG; INEOS Group Holdings S.A; Johnson Matthey plc; LyondellBasell Industries N.V. and W. R. Grace & Company, among others.
Competitive Landscape
June 28, 2024 – Technip Energies and Shell Catalysts & Technologies have formed a strategic alliance to expedite the market launch of Technip Energies’ groundbreaking Bio-2-Glycols™ technology. This cutting-edge technology enables the sustainable production of bio-based Mono Ethylene Glycol (MEG) from glucose, offering an eco-friendly alternative to traditional MEG production methods. The collaboration leverages Shell’s extensive expertise in catalyst technology and Technip Energies’ pioneering advancements in bio-based solutions, positioning both companies at the forefront of the renewable chemicals market.
June 12, 2024 – Clariant, a sustainability-focused specialty chemical company, announced that it was awarded a contract to supply CATOFIN catalysts for Qingyang Tongxin Petroleum Technology’s first-ever paraffin dehydrogenation plant. The unit will be based in Qingyang City, Gansu Province, China, and designed to process 300 KTA of combined propane and isobutane from liquefied petroleum gas feedstock to produce chemicals and refined products. For the project, Clariant will be collaborating with its long-standing process partner, Lummus Technology.
Chemical processing catalysts market scope
- By type
- Heterogeneous catalysts
- Homogeneous catalysts
- Biocatalysts
- Others
- By product category
- Polymerization catalysts
- Metallocene catalysts
- Oxidation catalysts
- Organic synthesis catalysts
- Synthesis gas catalysts
- Others
- By component
- Zeolites
- Metals
- Chemicals
- Organometallic materials
- Others
- By end-use industry
- Petroleum refining
- Chemical
- Polymer and plastics
- Environmental
- Pharmaceutical
- Renewable energy
- Textile
- Cosmetics and personal care
- Others
- By region
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
| Report Attribute | Details |
| No. of Pages | 238 |
| Published | July-2024 |
| Forecast Period | 2023-2030 |
| Estimated Market Size in 2023 | US$14.2 billion |
| Forecasted Market Size by 2030 | US$20.5 billion |
| CAGR | 4.71% |
| Regions Covered | North America, South America, Europe, Asia Pacific, Middle East and Africa |
| Companies Mentioned | Air Products and Chemicals, Inc.; Albemarle Corporation; BASF Catalysts LLC; Clariant International; Evonik Industries AG; INEOS Group Holdings S.A; Johnson Matthey plc; LyondellBasell Industries N.V. and W. R. Grace & Company, among others. |
The research report provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.
Research Methodology
