Industrial Catalysts Market Analysis

Increasing the overall yield of an industrial chemical process id boost the market growth.

The prominent factors driving the growth of the Industrial Catalysts Market are rapid industrialization in emerging economies across the globe, increasing demand for various commodity and specialty chemicals, and high consumption of crude oil-based products. The demand for industrial catalysts is predicted to witness significant growth during the assessment period owing to expanding petroleum and allied industries. Significant growth of crude oil production in major oil-producing countries is anticipated to be an important factor favoring the growth of the Industrial Catalysts Market during the review period.

Additionally, owing to the rising need for sulfur-treated petroleum end products resulting in increasing demand for oil & gas industries. Increasing demand for basic chemicals & commodity chemicals to polymers & specialty chemicals is estimated to fuel the growth of the market. Furthermore, rapid industrialization coupled with the increasing gross domestic product (GDP) in emerging economies is predicted to propel the growth of the market during the assessment period. 

Additionally, In the manufacture of polymers, textiles, fertilizers, chemicals, detergents, and numerous other goods, catalysts are employed. Additionally, the creation of the preservatives used in fruits and vegetables as well as the quick ripening of fruits depends on catalysts. Catalysts are used in almost all sectors for at least one process. Catalysts are a crucial component in the manufacturing processes of many different industries, including those that generate food, clothing, medicine, and a variety of other goods. Catalysts enable lower-cost product production, making high-quality.

Clariant, a sustainability-focused specialty chemical company, announced today that Jiangsu Shenghong Petrochemical Co., Ltd has awarded it a major contract to use Clariant's SynDane 3142 LA catalyst in its new maleic anhydride (MA) production plant in Lianyungang, Jiangsu province, China. With a manufacturing capacity of 200,000 tons per year, the new plant, which is set to begin operations in 2025, will be one of MA's largest production facilities worldwide.

Cisco will introduce its industrial Catalyst switch in 2022. The IE9300 employs Cisco Cyber Vision to enhance visibility and security. The latest hardware expands Cisco's Catalyst hardware offering for industrial applications.

The Global Industrial Catalysts Market Industry is projected to experience substantial growth over the coming years. With a market value anticipated to reach 21.7 USD Billion in 2024 and further expand to 36.3 USD Billion by 2035, the industry is poised for a robust trajectory. The compound annual growth rate of 4.8% from 2025 to 2035 underscores the increasing reliance on catalysts across various sectors, including automotive, chemical manufacturing, and energy production. This growth reflects the ongoing innovations and adaptations within the industry, as stakeholders seek to enhance efficiency and sustainability in their operations.

The automotive sector is a significant driver of the Global Industrial Catalysts Market Industry, particularly due to the increasing production of vehicles equipped with advanced emission control systems. Catalysts play a crucial role in reducing harmful emissions from internal combustion engines, aligning with global environmental standards. The shift towards electric vehicles also necessitates the use of catalysts in battery production and hydrogen fuel cells. As the automotive industry continues to innovate and adapt to regulatory pressures, the demand for industrial catalysts is expected to rise, contributing to the market's anticipated growth to 36.3 USD Billion by 2035.

The expansion of the chemical manufacturing sector is a key factor influencing the Global Industrial Catalysts Market Industry. As global populations grow and urbanization accelerates, the demand for chemicals, plastics, and fertilizers increases. Catalysts are integral to various chemical processes, enhancing reaction rates and product yields. For instance, the Haber-Bosch process, which relies on catalysts for ammonia production, is vital for the agricultural sector. This growing need for efficient chemical production methods is likely to drive the market forward, as industries seek to optimize their processes and meet rising consumer demands.

Technological advancements in catalytic processes are reshaping the Global Industrial Catalysts Market Industry. Innovations such as the development of nanocatalysts and improved catalyst formulations enhance efficiency and selectivity in chemical reactions. These advancements not only optimize production processes but also reduce operational costs for industries. For example, the introduction of more effective catalysts in petrochemical refining has led to increased yields and lower energy consumption. As industries adopt these cutting-edge technologies, the market is poised for growth, with a projected compound annual growth rate of 4.8% from 2025 to 2035, reflecting the ongoing evolution in catalytic applications.

The Global Industrial Catalysts Market Industry is experiencing a surge in demand driven by the transition towards cleaner energy solutions. Governments worldwide are implementing stringent regulations aimed at reducing carbon emissions, which in turn propels the need for catalysts that facilitate cleaner production processes. For instance, catalysts are essential in hydrogen production and biofuel synthesis, which are pivotal in achieving sustainability goals. This shift is expected to contribute significantly to the market's growth, with projections indicating a market value of 21.7 USD Billion in 2024, highlighting the increasing reliance on innovative catalytic technologies.

Regulatory pressures aimed at environmental compliance are significantly impacting the Global Industrial Catalysts Market Industry. Governments are enforcing stricter regulations on emissions and waste management, compelling industries to adopt cleaner technologies. Catalysts are essential in meeting these regulatory requirements, as they facilitate the reduction of pollutants in various industrial processes. For example, the implementation of catalytic converters in industrial exhaust systems has become a standard practice to minimize emissions. As industries strive to comply with these regulations, the demand for effective catalysts is expected to increase, further propelling market growth.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific is likely to account for the largest value share corresponding to 33.7% in 2019, supported by the dominance of the automobile, petrochemicals, polymer, and chemical industries in China. China had a significant chunk of chemical and polymer production companies and thus, emerged as a manufacturing destination for chemical and petrochemical products owing to growing domestic demand and low manufacturing costs compared to the U.S. and the European Union countries.

The market growth in the Asia Pacific is further augmented by the increasing FDI investments and lucrative growth opportunities projected by developing nations such as India and Vietnam.

Figure 3:  INDUSTRIAL CATALYSTS MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

North America is the second-largest market, owing to the evolving low sulfur and automotive mandates that necessitate the application of environmental catalysts in the region. The mounting consumption of gasoline in the U.S. is anticipated to escalate the demand for catalysts used for transforming heavy crude oil into light fractions such as kerosene, diesel, and gasoline. Further, the growth of the oil and gas and chemical sectors in Mexico is a key factor contributing to market growth in North America.

The Middle East and Africa which represented a market value share of 6.5% in 2019 are expected to project lucrative opportunities for petroleum refining catalysts on account of oil and gas industry dominance in Saudi Arabia, Oman, Kuwait, and Qatar, countries of the region. A surge in domestic demand in the automotive, construction, packaging, and pharmaceutical industries is expected to propel chemical manufacturers to boost their production output for polymers and petrochemicals in the Middle East.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Industrial Catalysts market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Industrial Catalysts industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Industrial Catalysts. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Industrial Catalysts industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Industrial Catalysts industry to benefit customers and expand the market sector. The Industrial Catalysts market has recently given medicine some of the most important advantages. Major Industrial Catalysts market players, including Bayer AG (Germany), The Dow Chemical Company (US), Albemarle Corporation (US), BASF SE (Germany), and others, are attempting to increase market demand by funding R&D initiatives.

BASF is a company that provides petrochemicals, intermediates, performance materials, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals. It conducts its operations through six business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions.

Also, Albemarle is a developer, manufacturer, and marketer of highly engineered specialty chemicals. It operates through three segments: Lithium, Bromine, and Catalysts. The company offers lithium and lithium derivatives; bromine specialties for fire safety, oilfield drilling, pharmaceutical manufacturing, high-tech cleaning, water treatment, and food safety; and catalysts for hydroprocessing, isomerization, and alkylation, fluidized