New York, United States, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Global Heterogeneous Catalyst Market Size is to Grow from USD 19.5 Billion in 2022 to USD 35.7 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.2% during the projected period.
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Heterogeneous catalysts are distinct from the reactants or products in their physical phase and are primarily used to facilitate chemical reactions between gaseous reactants. Commonly in solid phase, these catalysts are cost-effective alternatives to homogeneous catalysts. They are essential in speeding up large-scale production and ensuring selective product generation. Their significance is expected to Grow due to economic progress in emerging nations, increased understanding in developed countries of their cost benefits, surges in the chemical industry, and robust Growth in sectors like pharmaceuticals and food & beverages. As industries expand and strive for eco-friendly methods, the demand for these catalysts rises. They facilitate the efficient conversion of crude oil into valuable refined products. Their application spans various stages in petrochemical and chemical production. Additionally, with global movements toward sustainability and reducing emissions, there's a Growing need for heterogeneous catalysts supporting green processes. Regulatory measures and investment in R&D for sustainable catalysts underline this trend.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the “Global Heterogeneous Catalyst Market Size, Share, and COVID-19 Impact Analysis, By Product (Metal-based, Chemical-based, Zeolites-based, Others), By Application (Petroleum Refining, Chemical Synthesis, Polymer, Environmental, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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The metal-based segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product, the global heterogeneous catalyst market is segmented into the metal-based, chemical-based, zeolites-based, and others. Among these, the metal-based segment is dominating the market with the largest revenue share of 38.6% over the forecast period. This is because metal-based catalysts such as platinum, palladium, and rhodium are widely used in industries such as petroleum refining, petrochemicals, and automobile manufacture.
The petroleum refining segment accounted for the largest revenue share of more than 34.2% over the forecast period.
On the basis of application, the global heterogeneous catalyst market is segmented into petroleum refining, chemical synthesis, polymer, environmental, and others. Among these, the petroleum refining segment is dominating the market with the largest revenue share of 34.2% over the forecast period. In the petroleum refining industry, heterogeneous catalysts are crucial for a range of refining processes such as fluid catalytic cracking, hydrocracking, alkylation, and reforming. These catalysts aid in the conversion of crude oil components into useful products such as gasoline, diesel, and kerosene.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific holds a dominant 38.7% market share in the global heterogeneous catalyst market, attributed to its substantial industrial expansion. Countries like China, India, and South Korea are witnessing increased demand for catalysts, driven by their booming chemical, petrochemical, and automobile sectors. Emission regulations and the Growing emphasis on pollution control further boost the region's catalyst demand. Urbanization trends amplify this demand as environmental concerns rise. North America, meanwhile, is projected to experience the most rapid Growth. The region's robust industrial base, notably in the U.S. and Canada, leans heavily on heterogeneous catalysts, especially in petrochemical refineries and the chemical domain. Europe remains a significant contender in the heterogeneous catalyst market, anchored by its rich legacy in the chemical and automotive fields.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Heterogeneous Catalyst Market include Clariant AG, BASF SE, Axens, Umicore, Exxonmobil Corporation, Dow Chemical Company, Evonik Industries AG, Johnson Matthey, Haldor Topsoe A/S, Honeywell UOP, Rio Tinto Ltd., W.R. Grace and Co, Zeolyst International, Albemarle Corporation, Dorf Ketal Chemicals (I) Pvt. Ltd., Chevron Phillips Chemical Company LLC, The Dow Chemical Company, LyondellBasell Industries Holdings B.V., and among others.
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Recent Developments
- On January 2023, Heraeus Precious Metals and Hulteberg Chemistry & Engineering AB have formed a strategic alliance to develop and market a wide range of catalysts used in the operation of solid oxide fuel cells (SOFC). The collaboration will strengthen both companies' positions in the emerging fields of SOFCs and the hydrogen economy. Hulteberg Chemistry & Engineering AB specializes in heterogeneous catalyst research, development, and production, with an emphasis on hydrogen production, electronics, and renewable and recycled fuels and chemicals.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Heterogeneous Catalyst Market based on the below-mentioned segments:
Heterogeneous Catalyst Market, Product Analysis
- Metal-based
- Iron
- Nickel
- Copper
- Others
- Chemical-based
- Zeolites-based
- Mordenite (MOR)
- Zeolite Y
- MFI
- FER
- BEA
- Others
Heterogeneous Catalyst Market, Application Analysis
- Petroleum Refining
- Chemical Synthesis
- Polymer
- Environmental
- Others
Heterogeneous Catalyst Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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