Platinum and Palladium Carbon Catalyst Market is Expanding Chemical Industry and is Expected to Boost Growth by 2024

Pune, India, June 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Platinum and Palladium Carbon Catalyst Market.  

Market Summary

The Platinum and Palladium Carbon Catalyst Market is expected to register a CAGR of 4.0% to reach a value of USD 540 Million by 2024. The global platinum- and palladium-carbon catalyst market is expected to witness healthy growth during the forecast period on account of rapid industrialization, rising demand for chemicals, increasing expenditure on research activities, and demand in the automotive industry. Platinum on carbon and palladium on carbon are used for catalytic hydrogenations in organic synthesis.

Segment Analysis

Based on metal, the global platinum- and palladium-carbon catalyst market has been segmented into platinum-carbon catalyst and palladium-carbon catalyst. The platinum-carbon catalyst segment accounted for the largest share of the global market in 2018. The segment is expected to witness healthy growth during the forecast period, owing to the high demand in the automotive and chemical industries, due to its relatively low cost. The increasing R&D investment in the platinum catalyst and palladium catalyst to reduce the precious metal content in the catalyst while enhancing the performance and reducing the operating cost is driving the market growth. Most of the liquid phase batch hydrogenations are performed with 5% palladium on carbon paste. While 50% platinum on carbon paste is generally used for polymer electrolyte fuel cell (PEMFC), microbial fuel cell (MFC), direct methanol fuel cell (DMFC), and phosphoric acid fuel cell (PAFC) applications.

By end-use industry, the global platinum- and palladium-carbon catalyst market has been divided into automotive, chemical, aerospace, pharmaceutical, and others. The chemical segment accounted for the largest share of the global platinum- and palladium-carbon catalyst market, followed by the automotive segment. The demand in the automotive industry is expected to increase significantly, owing to increasing efforts made by automakers to reduce the emission and carbon footprint due to increasing environmental concerns and stringent emission regulations.

Competitive Analysis

Some of the key players operating in the global platinum- and palladium-carbon catalyst market are Evonik Industries AG (Germany), Johnson Matthey (UK), Clariant AG (Switzerland), and Vineeth Precious Catalysts Pvt. Ltd (India), BASF AG (Germany), Sabin Metal Corporation (US), American Elements (US), Chimet S.p.A. (Italy), FUJIFILM Wako Pure Chemical Corporation (Japan), KaiDa Chemicals (China), Alfa Aesar (US), Heraeus Group (UK), Shaanxi Kaida Chemical Engineering Co., Ltd (China), Umicore N.V. (Belgium), and Shanxi Kaida Chemical (China), among others.

Regional Analysis

The global platinum- and palladium-carbon catalyst market, by region, has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific led by India, China, and Japan is expected to dominate the global platinum- and palladium-carbon catalyst market through the forecast period. Backed by the expanding automotive and chemical industries, the demand for platinum- and palladium-carbon catalyst is expected to increase significantly during the forecast period. Europe was the second-largest market for platinum- and palladium-carbon catalyst in 2018 and is expected to showcase moderate growth during the forecast period owing to increasing automotive production led by Germany, France, the UK, Italy, and Russia. The North American market is expected to be another prominent market for platinum- and palladium-carbon catalyst owing to the increasing demand in the chemical, petrochemical, and automotive industries. The Middle East & Africa is expected to witness moderate growth backed by increasing investments in chemical and petrochemical industries, particularly in the Middle East. The market in Latin America is expected to exhibit significant growth during the forecast period due to expanding end-use industries, such as automotive, aerospace, and electrical & electronics in the region.

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