Catalyst Market Overview
Catalyst market was valued at $28,567 million, and is expected to reach $40,000 million by 2022, supported by a CAGR of 4.8%. Catalysts modulate the rate of chemical reaction by lowering or raising the activation energy of the process. However, they are not consumed during the reaction; moreover, spent catalysts can be reused after treatment. Various catalysts available in the market include zeolites, enzymes, chemical compounds, and metals that are used in industries such as automotive, industrial reactions, oil & gas, construction, and others. Biocompatibility of enzyme catalysts has made it ideal for use in manufacture of a wide range of life science and food products such as ointments, cosmetics, packaged foods, and modified dairy products.
Growth in macroeconomic trends such as global population growth coupled with surging economic progress in emerging economies, stringent environmental legislation regarding automotive emissions, and increase in number of applications in end-user industries are the factors that drive the market growth. Asia-Pacific is expected to register substantial growth in near future, owing to rise in demand for automotive from emerging economies, such as India and China. In addition, rise in living standards and rapid industrialization activities in the region also support the growth and development of catalyst market. Furthermore, development of biochemicals through catalysis presents new opportunities for future growth. However, restricted development and distribution of new catalysts hinder the market growth.
Based on the catalyst type, the market is segmented into zeolites, metal, chemical compounds, enzymes, and organometallic materials. By application, it is divided into petroleum refining, chemical synthesis, polymer catalysis, and environmental & others. Petroleum refining is further divided as fluid catalytic cracking (FCC), alkylation catalysts, hydroprocessing catalysts, catalytic reforming, and others. By chemical synthesis, the market is further classified as polyolefins, catalytic oxidation, hydrogenation catalysts, and others; polymer catalysis into Ziegler‐Natta, reaction initiator, single-site, and others; and environmental into light-duty vehicles, heavy-duty vehicles, and others.
By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA, coupled with country-level analysis.
Top Investment Pockets
Environmental & others is the most attractive segment in the global catalyst industry. This industry is projected to be the first preference for new entrants owing to rise in trend toward automotive ownership, particularly in emerging countries, and development of new potential applications. Though the growth of catalyst usage in environmental sector is higher as compared to petroleum refining, the increase in shale gas exploration in U.S. and China is expected to boost the refining sector. Emission control catalysts are expected to dominate the market in revenue terms making it the top choice for investments.
Top Investment Pockets, By Application
Top Winning Strategies
Expansion is the leading strategy adopted by the key market players followed by acquisition, product launch, agreement, collaboration, partnership, relocation, and technological advancements. Among these, expansion and acquisition are anticipated to cover 46 and 23% share, respectively, during the forecast period. The major focus of the key players in the global catalysts market is to increase the production rate to cater to the customers’ demand and to widen their geographical reach, which resulted in rise in the number of expansions and acquisitions.
Top Winning Strategies, By Company (2010‐2016*)
*Considered till July 2016
Asia-Pacific Catalysts Market Analysis
Asia’s consumption of compounded catalysts is expected to increase, assisted by the growth in region’s population, improvement in infrastructure, and stable economic growth. Emerging markets such as China and India are expected to show the highest increase in demand for environmental catalysts and polymer products. Abundant coal-to-chemical processes and shale gas investment are expected to boost China’s growth rate during the forecast period. Rise in catalyst demand from Japan is projected to be more reserved, owing to the sustained shift of the manufacturing base to other Asian countries, and decrease in exports resulting from capacity increases in the Middle East, U.S., and the other Asian countries.
Asia-Pacific: Catalyst market in Petroleum Refining Application, 2014‐2022 ($Million)
Major companies have adopted agreement, product launches, expansions, mergers, and agreements to sustain the intense competition in this market. The key players profiled in the report include BASF SE, Albemarle Corporation, Johnson Matthey PLC, Evonik Industries AG, Dow Chemicals, Clariant AG, Dorf Ketal Chemicals Llc, W.R. Grace & Company, Chevron Phillips Chemical Company LP, and Exxon Mobil Corporation.
Other market players (not profiled in report) in value chain include, Borealis AG, Sinopec Corp., Royal Dutch Shell PLC, Honeywell International Incorporated, Total SA, CRI Catalyst Company, Zeolyst International Inc.
KEY BENEFITS FOR STAKEHOLDERS:
- This report provides an extensive analysis of the current trends and emerging estimations & dynamics in the catalyst market.
- In-depth analysis is conducted of catalyst market estimations for key segments between 2014 and 2022.
- Competitive intelligence (of leading manufacturers and distributors of catalysts) assists in understanding the competitive scenario across the geographies.
- Global catalyst market analysis for the factors that drive and restrain the growth of the market are provided.
- Extensive analysis of the catalyst industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Key market players are profiled and their strategies are analyzed thoroughly, which provide a competitive outlook of the market.
Catalyst Market Key Segments
- Base Metals
- Precious Metals
- Chemical Compounds
- Other Chemicals
- Organometallic Materials
- Petroleum Refining
- Fluid Catalytic Cracking (FCC)
- Alkylation Catalysts
- Hydroprocessing Catalysts
- Catalytic Reforming
- Chemical Synthesis
- Catalytic Oxidation
- Hydrogenation Catalysts
- Polymer Catalysis
- Reaction Initiator
- Light-duty Vehicles
- Heavy-duty Vehicles
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA