Chemical Catalyst Global Market Report 2024

The chemical catalyst market size has grown strongly in recent years. It will grow from $37.22 billion in 2023 to $39.75 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth observed in the historical period can be attributed to factors such as the growth of the petrochemical industry, expanding chemical manufacturing, adherence to environmental regulations and emission control measures, an increasing demand for clean energy, and growth in refinery activities.

The chemical catalyst market size is expected to see strong growth in the next few years. It will grow to $49.57 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period can be attributed to increased investment in renewable energy, a growing demand for specialty chemicals, the rise in adoption of the hydrogen economy, stringent emission standards, and the expansion of chemical and petrochemical industries in developing regions. Major trends expected in the forecast period include technological advancements in catalysis, a transition to green and sustainable technologies, advancements in catalytic technologies, the rising importance of nanocatalysts, and a shift towards bio-based catalysts.

The anticipated expansion of the chemical industry is poised to drive the growth of the chemical catalyst market in the future. The chemical industry encompasses a range of activities and entities dedicated to producing chemicals and related products. Chemical catalysts play a crucial role in numerous industrial processes, facilitating chemical reactions that transform raw materials into valuable end products. These catalysts are indispensable in the production of various fine and specialty chemicals. For example, the Chemistry Industry Association of Canada reported in February 2023 that Canada's Chemicals Industry achieved a record $30.8 billion in shipments in 2022, reflecting an 11.2% increase from the previous year. Additionally, exports reached a record high of $24.8 billion, marking an 11.5% growth compared to 2021. Hence, the expansion of the chemical industry is a driving force behind the chemical catalyst market.

Rapid industrial growth is expected to propel the chemical catalyst market forward. Industrial sectors, comprising businesses engaged in similar economic activities or providing related goods and services, utilize chemical catalysts to accelerate chemical reactions, enhance efficiency, reduce energy consumption, and improve yield and selectivity in various processes. This, in turn, leads to more sustainable production processes and the creation of valuable end products. For instance, Eurostat reported in August 2023 that industrial production in the euro area and the EU increased by 0.5% and 0.4%, respectively, in June 2023 compared to May 2023. Therefore, the anticipated rapid industrial growth will drive the chemical catalyst market.

The increasing costs associated with research, development, and innovation in chemical catalyst technologies are expected to restrain the growth of the chemical catalyst market. Escalating costs pose financial challenges, limiting the affordability and accessibility of advanced catalyst solutions. In August 2022, Topsoe announced price increases on its catalysts due to rising raw material and energy prices. The higher costs of natural gas, electricity, and key commodity chemicals used in catalyst production led to these price adjustments, with some products experiencing a 5-15% price increase. Hence, the increasing development costs represent a constraint on the growth of the chemical catalyst market.

Leading companies in the chemical catalyst market focus on product innovation to introduce advanced solutions, such as the CircleStar catalyst. This catalyst is designed for processing renewable feedstocks and achieving 99.5% selectivity for the ethanol-to-ethylene (E2E) conversion. The CircleStar catalyst contributes to transforming the chemical industry toward climate neutrality, supporting net-zero targets. Its unique star shape maximizes the active geometrical surface area, improving mass transfer and extending catalyst lifetime. For instance, BASF SE launched the CircleStar catalyst in September 2022, aiming to decrease the CO2 footprint in the bio-ethylene value chain. The catalyst operates at a temperature over 25°C lower than conventional processes, reducing the carbon footprint by more than 10% while maintaining performance.

In July 2021, BASF SE acquired Zodiac Enterprises LLC to enhance its chemical catalyst recycling capacity and capability. This strategic acquisition empowers BASF SE to improve the sustainability and efficiency of its catalyst solutions, aligning with the company's commitment to innovation and sustainability in the chemical industry. Zodiac Enterprises LLC is a US-based chemical catalyst recycling company offering services such as metal refining, platinum recovery, and industrial scrap catalyst recycling applications.

Major companies operating in the chemical catalyst market report are China Petroleum & Chemical Corporation, Royal Dutch Shell Public Limited Company, ExxonMobil Corporation, BASF SE, Dow Inc., LyondellBasell Industries N.V., Heraeus Group, INEOS Group Holdings S.A., Johnson Matthey PLC, Evonik Industries AG, Solvay S.A., DuPont de Nemours Inc., Akzo Nobel N.V., Arkema S.A., Sumitomo Metal Mining Co., Ltd., Albemarle Corporation, Clariant AG, Chevron Phillips Chemical Company LLC, Umicore N.V., JGC Catalysts and Chemicals, W.R. Grace & Co., Criterion Catalysts & Technologies L.P., Haldor Topsoe A/S, Dorf Ketal Chemicals India Private Limited, Tronox Holdings Plc, UOP LLC, Axens S.A., Nett Technologies Inc., Davison Chemical Co. Ltd., Vineeth Precious Catalysts Pvt. Ltd.

Asia-Pacific was the largest region in the chemical catalyst market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chemical catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the chemical catalyst market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A chemical catalyst is a substance that accelerates the rate of a chemical reaction without itself undergoing any permanent chemical change. Catalysts play a crucial role in various industrial processes by enhancing the efficiency and yield of reactions.

The main types of chemical catalysts include homogeneous, heterogeneous, heterogenized, homogeneous catalysts, and biocatalysts. Homogeneous catalysts operate in the same phase, such as gas or liquid, as the reactants. Various materials used in homogeneous catalysts include metals and metal oxides, zeolites, and chemical compounds. These catalysts find applications in diverse fields such as petrochemicals, chemical synthesis, environmental catalysis, polymerization, refining, pharmaceuticals, and others.

The chemical catalyst market research report is one of a series of new reports that provides chemical catalyst market statistics, including chemical catalyst industry global market size, regional shares, competitors with chemical catalyst market share, detailed chemical catalyst market segments, market trends, and opportunities, and any further data you may need to thrive in the chemical catalyst industry. This chemical catalyst market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The chemical catalyst market consists of sales of petroleum Products, polymers, fuels, chemical intermediates, fine chemicals, and polyurethanes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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