The North America industrial catalyst market size reached US$ 6.9 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 8.9 Billion by 2032, exhibiting a growth rate (CAGR) of 2.9% during 2023-2032.
Catalysts refer to substances that speed up or initiate reactions by providing an alternative path of reaction with a lower activation energy than the uncatalyzed reaction. They accelerate both the rates of the forward and reverse reaction so that the equilibrium constant remains the same. Catalyzed reactions form the basis of many industrial chemical processes. They are extensively used in the food industry, pollution control and for producing petroleum, energy, chemicals and polymers. Owing to the huge demand, catalyst manufacturing has itself emerged as a rapidly growing industrial process.
The North America industrial catalyst market is currently being driven by several factors. Industrial catalysts are majorly being used in petroleum refining and basic petrochemical industries as there is an increasing demand for these products. Petroleum- based fuels such as diesels, gasoline, kerosene, fuel-oils and jet fuels are the most widely consumed fuels in the region. The demand for these petroleum products from the industrial and power generation sectors is anticipated to drive the demand for the catalyst industry. Moreover, the escalating usage of industrial catalyst in the automotive sector has fueled the market growth in the region. The demand for palladium continues to rise which is used during the manufacturing of catalytic converters, as it helps to reduce toxic emissions. Apart from this, catalysts are also used in the pharmaceutical industry because of the rising demand for chiral compounds. Normally, the compounds used in pharmaceuticals are generally complex multifunctional molecules which are built up by a sequence of chemical reactions. Industrial catalysts also help in the production of cleaner fuels and lubricants with increased performance properties.
Catalysts refer to substances that speed up or initiate reactions by providing an alternative path of reaction with a lower activation energy than the uncatalyzed reaction. They accelerate both the rates of the forward and reverse reaction so that the equilibrium constant remains the same. Catalyzed reactions form the basis of many industrial chemical processes. They are extensively used in the food industry, pollution control and for producing petroleum, energy, chemicals and polymers. Owing to the huge demand, catalyst manufacturing has itself emerged as a rapidly growing industrial process.
The North America industrial catalyst market is currently being driven by several factors. Industrial catalysts are majorly being used in petroleum refining and basic petrochemical industries as there is an increasing demand for these products. Petroleum- based fuels such as diesels, gasoline, kerosene, fuel-oils and jet fuels are the most widely consumed fuels in the region. The demand for these petroleum products from the industrial and power generation sectors is anticipated to drive the demand for the catalyst industry. Moreover, the escalating usage of industrial catalyst in the automotive sector has fueled the market growth in the region. The demand for palladium continues to rise which is used during the manufacturing of catalytic converters, as it helps to reduce toxic emissions. Apart from this, catalysts are also used in the pharmaceutical industry because of the rising demand for chiral compounds. Normally, the compounds used in pharmaceuticals are generally complex multifunctional molecules which are built up by a sequence of chemical reactions. Industrial catalysts also help in the production of cleaner fuels and lubricants with increased performance properties.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the North America industrial catalyst market report, along with forecasts at the regional and country level from 2024-2032. The report has categorized the market based on type, raw material and application.- Key Regions Analyzed
- United States
- Canada
- Mexico
- Analysis for Each Country
Market by Type
- Heterogenous Catalysts
- Homogeneous Catalysts
- Biocatalysts
Market by Raw Material
- Mixed Catalysts
- Oxide Catalysts
- Metallic Catalysts
- Sulphide Catalysts
- Organometallic Catalysts
Market by Application
- Petroleum Refinery
- Chemical Synthesis
- Petrochemicals
- Others
- Value Chain Analysis
- Key Drivers and Challenges
- Porters Five Forces Analysis
- PESTEL Analysis
- Government Regulations
- Competitive Landscape
- Competitive Structure
- Key Player Profiles
Key Questions Answered in This Report:
- How has the North America industrial catalyst market performed so far and how will it perform in the coming years?
- What are the key regions in the North America industrial catalyst market?
- What has been the impact of COVID-19 on the North America industrial catalyst market?
- What is the breakup of the North America industrial catalyst market on the basis of type?
- What is the breakup of the North America industrial catalyst market on the basis of raw material?
- What is the breakup of the North America industrial catalyst market on the basis of application?
- What are the various stages in the value chain of the North America industrial catalyst industry?
- What are the key driving factors and challenges in the North America industrial catalyst industry?
- What is the structure of the North America industrial catalyst industry and who are the key players?
- What is the degree of competition in the North America industrial catalyst industry?
- What are the profit margins in the North America industrial catalyst industry?
Table of Contents
1 Preface3 Executive Summary14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Industrial Catalyst Market
6 North America Industrial Catalyst Market
7 North America Industrial Catalyst Market: Breakup by Type
8 North America Industrial Catalyst Market: Breakup by Raw Material
9 North America Industrial Catalyst Market: Breakup by Application
10 North America Industrial Catalyst Market: Breakup by Country
11 SWOT Analysis
12 Value Chain Analysis
13 Porter’s Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 125 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 6.9 Billion |
| Forecasted Market Value ( USD | $ 8.9 Billion |
| Compound Annual Growth Rate | 2.9% |
| Regions Covered | North America |
