According to the report published by Allied Market Research, the global catalyst market generated $35.5 billion in 2020, and is expected to reach $57.5 billion by 2030, registering a CAGR of 4.9% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
High utilization of catalytic process, stringent environmental legislation regarding automotive emissions, and surge in number of applications in end-user industries drive the growth of the global catalyst market. However, concerns related to development and distributions of new catalysts hinder the market growth. On the other hand, development of biochemicals through catalysts presents new opportunities in the coming years.
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Covid-19 Scenario:
- Daily operations in the sectors including oil & gas, polymer catalysis, chemical manufacturing, automotive, and others have been disrupted due to lockdown imposed by governments during the Covid-19 pandemic. Owing to high dependence on these sectors, the catalyst market has been impacted negatively.
- Several chemical manufacturing companies, in which catalysts are widely used for chemical synthesis, hydroprocessing, and other applications, have closed down their operations either completely or partially due to the risk of infections among the workforce.
- Major market players such as BASF SE and others have been looking forward to widening their footprints and availing new investment opportunities amid the Covid-19 pandemic. For instance, BASF SE invested in expansion of its capacity of mobile emission catalyst facility in Chennai, India.
The report offers detailed segmentation of the global catalyst market based on type, process, application, and region.
Based on type, the metals segment contributed to the highest share in 2020, holding nearly one-fourth of the total share, and is expected to continue its leadership status during the forecast period. However, the enzymes segment is estimated to witness the largest CAGR of 5.5% from 2021 to 2030.
Based on process, the recycling segment accounted for the highest share in 2020, contributing to nearly half of the global catalyst market, and is projected to continue its lead position during the forecast period. However, the regeneration segment is expected to manifest the fastest CAGR of 5.2% from 2021 to 2030.
Based on region, Asia-Pacific held the highest share in 2020, accounting for nearly two-fifths of the total share, and is projected to maintain its dominance by 2030. Moreover, this segment is expected to portray the highest CAGR of 5.4% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global aluminum cladding panels market analyzed in the research include Albemarle Corporation, Chevron Phillips Chemical Company LLC, BASF SE, Dorf Ketal Chemicals (I) Pvt. Ltd., Clariant AG, Evonik Industries AG, Dow Chemical Company, Johnson Matthey, Exxonmobil Corporation, and W.R. Grace and Co.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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