Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Platinum and Palladium Carbon Catalyst Market is affected by several factors. The main one is that the automotive industry, which uses platinum and palladium as catalysts in automobile catalytic converters to reduce emissions pollutants. Consequently, increased global focus on environmental legislations and clean vehicles has led to corresponding demand for platinum and palladium carbon catalysts.
It is therefore estimated that, by 2024, the overall market size of platinum and palladium carbon catalyst’s will be above $540 million indicating a CAGR of 4.0% over 2016-2024.
This boost has also been caused by other factors such like growth in renewable energy sector. For instance, fuel cells are critical elements in this area since it represents one of the most important technology required for cleaner energy sources. Thus based on need for sustainable energy solutions worldwide there is anticipated to experience that significant rise in demand where fuels cell use these precious metals such as platinum or palladium as catalysts.
Furthermore, technological changes and developments in catalytic converter designs also influence its performance. In other words on-going research activities tackling improvement of efficiency of catalytic converters whilst reducing dependence on these rare earth metals may affect requirements for automotive industry vis-Ă -vis use of platinum or palladium carbenes.
Therefore recycling policies have an impact upon it too. Recycling becomes a vital part of their dynamics due to limited resources for platinum and palladium. More so advanced methods help maintain availability of these valuable earth materials through sustainable recycling practices thereby impacting upon their availability .
At times ethics can change this market space direction completely . Therefore; consumer preference for ethically extracted minerals means companies operating in this market have to adopt sustainable mining practices to remain relevant.However customer’s behavior must change before effective marketing strategy targeting people who will be willing to pay more for “dirt-free” platinum and palladium carbenes could be implemented.
Platinum Palladium Carbon Catalyst Market Highlights:
Market Overview
The global platinum and palladium carbon catalyst market is estimated to reach over USD 540 million by the end of 2024, expanding at a CAGR of 4.0% during the forecast period.
Platinum- and palladium-carbon catalysts are extensively used in the chemical and pharmaceutical manufacturing industries as hydrogenation catalysts for a wide variety of organic synthesis and coupling reactions. Platinum catalyst and palladium catalyst are supported on charcoal or activated carbon to optimize the surface area and activity. Platinum- and palladium-carbon catalyst are often referred to as platinum on carbon (Pt/C) and palladium on carbon (Pd/C). These catalysts find application in the chemical, pharmaceutical, automotive, petrochemical, and electronic industries as they enhance the performance during chemical processing and organic synthesis. The performance of platinum- and palladium-carbon catalyst can be described based on mesh size, noble metal content, and purity of carbon, among others. Moreover, the activity of platinum and palladium on carbon is highly susceptible to the method chosen to introduce palladium/platinum into the structure and to absorb it on the surface of the charcoal particles.
The platinum catalyst is widely used in the automobile exhaust system to reduce the emission of volatile organic compounds, oxides of sulfur and nitrogen, and other pollutants. Palladium catalyst is widely used in the industrial organic industry and reactions, including carbon-carbon multiple bond reduction, reduction of nitro and nitroso compounds, aromatic ring saturation, reductive aminations/alkylation, and hydrogenolysis.
The positive outlook of the automotive industry and efforts made by automakers to reduce the emission and carbon footprint owing to increasing environmental concerns and stringent emission regulations are expected to drive the growth of the global platinum carbon catalyst market during the forecast period. The market growth is also influenced by the surging demand for hydrogen fuel cell vehicles, particularly in Europe, the US, and Japan. Furthermore, the growing chemical and pharmaceutical industries in the developing economies such as India, China, Brazil, and ASEAN countries is also expected to fuel the growth of the global market. By metal type, platinum carbon catalyst segment is expected to dominate the global market and witness healthy growth owing to its lower price as compared to palladium.
However, the high cost of platinum and palladium, and the availability of substitute products are expected restrain the growth of the global market during the forecast period. Â
Key Players
Some of the key players operating in the global platinum- and palladium-carbon catalyst market are Johnson Matthey (UK), Evonik Industries AG (Germany), BASF AG (Germany), Clariant AG (Switzerland), Vineeth Precious Catalysts Pvt. Ltd (India), Sabin Metal Corporation (US), FUJIFILM Wako Pure Chemical Corporation (Japan), American Elements (US), Chimet S.p.A. (Italy), Heraeus Group (UK), Alfa Aesar (US), Shaanxi Kaida Chemical Engineering Co., Ltd (China), Shanxi Kaida Chemical (China), KaiDa Chemicals (China), and Umicore N.V. (Belgium).
Global Platinum and Palladium Carbon Catalyst Market Share, By End-Use Industry, 2018 (%) Â 
Source: MRFR Analysis
Regional Analysis
The global platinum- and palladium-carbon catalyst market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Asia-Pacific dominated the global platinum- and palladium-carbon catalyst market in 2018 and is expected to witness significant growth during the forecast period, on the account of robust chemical, pharmaceutical and automobile manufacturing outlook in the region, particularly in India, China, and ASEAN countries. China is expected to witness healthy growth in terms of demand for platinum catalyst and palladium catalyst, owing to the growth of the automotive and chemical industries in the country. Moreover, initiatives by the governments to support the growth of domestic manufacturing index is expected to drive the growth of the platinum- and palladium-carbon catalyst market in India.
North America and Europe are expected to be prominent markets for platinum- and palladium-carbon catalyst, owing to the recovering automotive industry with increasing demand for electric vehicles. Latin America is expected to be an opportunistic market and witness healthy growth owing to recovering economics and expanding automotive and chemical industries in Brazil and Mexico. The Middle East & Africa is projected to witness relatively moderate growth in the global platinum- and palladium-carbon catalyst market during the forecast period.
Segmentation Analysis
The global market has been segmented based on metal, end-use industry, and region.
On the basis of metal, the global platinum- and palladium-carbon catalyst market has been categorized into platinum-carbon catalyst and palladium-carbon catalyst.
By end-use industry, the global platinum- and palladium-carbon catalyst market has been divided into automotive, chemicals, aerospace, pharmaceuticals, and others.
The global platinum- and palladium-carbon catalyst market, by region, has been segregated into North America, Latin America, the Middle East & Africa, Europe, and Asia-Pacific.
Target Audience
- Manufacturers of platinum- and palladium-carbon catalyst
- Traders and distributors of platinum- and palladium-carbon catalyst
- Research/education institutes
- Industry associations
- Potential investors
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
