Catalyst Market

Catalyst Market Size and Share:

The global catalyst market size was valued at USD 41.46 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 58.68 Billion by 2033, exhibiting a CAGR of 3.74% during 2025-2033. Asia-Pacific currently dominates the market, holding a significant market share of 49.1% in 2024. Rapid industrialization and strong demand from sectors like automotive, chemicals, and petrochemicals, is strengthening the market growth. The catalyst market share is increasing in countries like China, India, and Japan due to growing usage in emission control, refining, and energy-efficient processes. Besides this, supportive government policies and investments in sustainability further fuels market growth.

Stricter environmental regulations worldwide are compelling manufacturers to adopt catalysts for emission control and pollution reduction. Automotive emissions standards require the use of catalysts in catalytic converters to minimize harmful pollutants. These regulations target reductions in nitrogen oxides (NOx), carbon monoxide, and hydrocarbons, directly driving catalyst demand. Increased sulfur content regulations in fuels are encouraging the use of catalysts in refining processes. In the chemical industry, regulatory standards focus on reducing volatile organic compounds (VOCs) and other pollutants, influencing catalyst adoption for cleaner production. Regulatory frameworks also promote the use of catalysts in renewable energy technologies, such as biofuels and hydrogen production, to meet sustainability goals. Compliance with these regulations often requires the implementation of advanced catalyst technologies that improve efficiency while reducing emissions. Governments worldwide are enforcing carbon emission reduction targets, which further accelerate the demand for environmentally friendly catalysts.

The United States catalyst market demand is driven by aadvancements in waste-to-resource technologies that promote sustainable manufacturing. The development of catalysts that convert waste materials, such as methane, into valuable resources, encourages greener industrial practices. For instance, in December 2024, chemical engineers from MIT designed a catalyst that can convert methane into polymers. As industries focus on reducing waste and minimizing environmental impact, catalysts play a critical role in these processes. Waste-to-resource technologies also reduce the reliance on raw materials, helping to conserve natural resources and cut costs. The government is encouraging the adoption of cleaner energy solutions, which further accelerates the demand of such catalytic technologies. Increasing investments in recycling and waste management technologies require advanced catalysts to improve efficiency and product yield. Moreover, the growing focus on reducing carbon footprints drives the need for innovative catalysts that enable more sustainable production processes.

Catalyst Market Trends:

Industrial expansion

The rapid growth in the chemical and polymer manufacturing sectors, along with the expansion of petrol refining capacities, has led to the widespread use of catalysts for optimizing chemical processes and improving product yields. India, which is presently a leading refining hub with a refining capacity of 248.9 MMTPA, is a key player in this trend, according to the Ministry of Petroleum and Natural Gas. In addition, governments' green initiatives driven by rising environmental concerns are encouraging original equipment manufacturers (OEMs) to incorporate catalysts like platinum, palladium, and rhodium in automobiles, further fueling market growth. Demand for platinum in automotive applications is expected to reach 3,283,000 ounces in 2023, a 13% increase from 2022. These catalysts help reduce nitrogen oxides (NOx), sulfur oxides (SOx), and carbon emissions. Furthermore, the increasing use of catalysts in biochemicals production and substantial investments in research and development (R&D) to improve catalyst efficiency are positively impacting market expansion. Reports indicate that global bio-based chemical and polymer production is projected to reach nearly 90 million tons, contributing to the growing need for catalysts across various industries.

Growing demand for cleaner energy

As per the data published by the International Energy Agency, renewable energy in power generation, is anticipated to increase by 46% by 2030. As renewable energy sources gain momentum, catalysts are essential for optimizing processes like electrolysis for hydrogen production. The shift toward cleaner energy is motivating industries to adopt catalysts that reduce harmful emissions in energy production. Catalysts help improve the efficiency of energy conversion processes, making renewable energy sources more viable and competitive. With stricter global environmental regulations, the need for catalysts that minimize pollutants in fuel production is increasing. These catalysts help ensure compliance with emission reduction targets and standards, especially in sectors like transportation and power generation. Moreover, the growing focus on reducing carbon footprints in industrial processes further drives the demand for green catalysts. As governments worldwide encourages cleaner energy adoption, investments in catalyst technologies are rising to meet these goals. Consequently, the demand for innovative catalysts continues to grow as industries strive for energy solutions that are both efficient and environmentally friendly.

Technological advancements

Innovations in catalyst design are improving their effectiveness in various chemical and industrial processes. The development of nano catalysts is one notable advancement, providing superior surface area for increased reaction rates. Additionally, new materials and manufacturing techniques are enabling the production of more durable and efficient catalysts. Advanced catalysts allow industries to reduce energy utilization while maintaining high productivity levels in chemical reactions. With the rise of renewable energy technologies, catalysts are being optimized for green processes like biofuel production. New catalysts are also designed to meet stricter environmental regulations by reducing harmful emissions and increasing fuel efficiency. In July 2024, KBR unveiled KCOTKlean, a technology to significantly reduce carbon emissions in the catalytic olefins process. By combining KBR's K-COT with KIMM’s CPOx, it integrates circular feeds, cleaner fuels, and carbon capture. This technology enhances olefins production, focusing on decarbonization while improving combustion efficiency and offering sustainable fuel alternatives. KCOTKlean marks KBR’s commitment to sustainability in the petrochemical industry and aligns with global environmental goals, contributing to more energy-efficient, eco-friendly solutions. Research and development (R&D) in catalyst technologies focus on creating more sustainable and cost-effective solutions across industries. These innovations are making catalytic processes more viable for a wider range of applications, especially in emerging sectors.

Catalyst Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global catalyst market, along with forecasts at the global, regional, and country levels from 2025-2033. The market has been categorized based on type, process, raw material, and application.

Analysis by Type:

• Heterogeneous Catalyst
• Homogeneous Catalyst

Heterogeneous catalyst is the largest segment of 2024 holding 73.6% share in the market. These have the ability to work in different phases of reactants with easy separation at the end of a reaction, ensuring efficiency. Increasing use in petroleum refinement, chemical and automotive industries for heterogeneous catalyst is driving the respective market share. Optimizing hydro cracking and catalytic reforming at petroleum refinements ensures higher yield. Their role in reactions like ammonia production and polymerization benefit the chemical industry. Heterogeneous catalysts also provide higher selectivity, improving process yields and minimizing byproducts. This is particularly valuable in industries aiming to improve product purity and reduce waste. Their ability to endure harsh operating conditions, such as high temperatures and pressures, adds to their demand. Such catalysts are widely used in the automotive sector, reducing harmful emissions through catalytic converters in vehicles. Their versatility makes them quintessential in process efficiency enhancement as well as meeting environmental regulations. Growing demand for more sustainable and energy-efficient processes for production across industries is further fueling their adoption. Further, continued advancements in catalyst design, specifically nano catalysts, further amplify their efficiencies and support further growth in the heterogeneous catalyst market.

Analysis by Process:

• Recycling
• Regeneration
• Rejuvenation

In 2024, recycling dominates the market with a share of 47.7%. Catalysts play a vital role in recycling processes, assisting in the breakdown of intricate materials into useful resources. The increasing focus on sustainability and minimizing waste propels the use of catalytic recycling technologies. In plastic recycling, catalysts facilitate the transformation of polymers into their monomers, enhancing recycling effectiveness. These methods aid in minimizing environmental effects by utilizing raw materials again rather than depending on new resources. Catalytic processes play a crucial role in metal recycling, such as aluminum and precious metals, making it financially feasible. The rising need for recycling is further bolstered by regulatory forces aimed at reducing landfill waste and encouraging resource preservation. Catalysts improve the effectiveness of these recycling processes, reducing energy utilization and improving product output. Recycling is essential for meeting circular economy objectives, minimizing the demand for raw materials. Additionally, innovations in catalyst design enhance the efficiency and affordability of recycling methods. As more sectors adopt sustainable methods, the demand for sophisticated catalytic solutions to enhance recycling processes keeps increasing.

Analysis by Raw Material:

• Chemical Compounds
  • Peroxides
  • Acids
  • Amines
  • Others
• Metals
  • Precious Metals
  • Base Metals
• Zeolites
• Others

Chemical compounds dominate the market with 38.0% market share in 2024. Such compounds ensure the chemical properties required to make catalysts facilitate reactions effectively. Important chemical compounds utilized in catalysts are metals such as platinum, palladium, and rhodium. Such metals ensure a high level of catalytic activity. These are applied in various processes such as catalytic reforming and automotive emission control. Chemical compounds like metal oxides are also applied in the formation of heterogeneous catalysts, providing stability and enhanced reactivity. This versatility of chemical compounds allows them to be used in virtually any industry-from petrochemicals to pharmaceuticals. Industrial processes become more complex, increasing the demand for improving catalyst performance and selectivity through chemical compounds. Advancements in the field of material science have helped to design newer chemical compounds having superior catalytic performance. Innovations in catalyst technology help increase efficiency at extreme temperatures, high-pressure environments, and even against aggressive chemicals. Increasing demand is also observed on the chemical compounds front because green chemistry solutions and manufacturing processes are more in demand today.

Analysis by Application:

• Chemical Synthesis
  • Chemical Catalysts
  • Adsorbents
  • Syngas Production
  • Others
• Petroleum Refining
  • Fluid Catalytic Cracking (FCC)
  • Alkylation
  • Hydrotreating 
  • Catalytic Reforming 
  • Purification
  • Bed Grading
  • Others 
• Polymers and Petrochemicals
  • Ziegler Natta
  • Reaction Initiator
  • Chromium
  • Urethane
  • Solid Phosphorous Acid Catalyst
  • Others
• Environmental
  • Light-duty Vehicles
  • Motorcycles
  • Heavy-duty Vehicles 
  • Others

Environmental dominates the market with a 36.2% share in 2024. Catalysts are essential in reducing air and water pollution, particularly in the management of industrial emissions. In automotive uses, catalysts play a crucial role in minimizing harmful emissions of carbon monoxide, nitrogen oxides (NOx), and hydrocarbons. Vehicle catalytic converters assist in adhering to strict regulatory requirements by reducing emissions. Additionally, catalysts are utilized in power generation facilities to decrease sulfur oxide (SOx) and carbon dioxide emissions, aiding in cleaner energy production. Environmental regulations are tightening, compelling industries to implement catalytic solutions to comply with emission standards. The requirement for catalysts in air and water purification methods keeps increasing as governments emphasize sustainability. Catalysts are used in industrial operations to minimize waste and reclaim valuable resources, aiding in environmental protection. Moreover, the transition to renewable energy sources like biofuels and hydrogen necessitates employing catalysts for effective production and use. The increasing attention on climate change and sustainable development further stimulates the need for catalysts in environmental uses.

Regional Analysis:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

In 2024, Asia-Pacific accounted for the largest market share of over 49.1%. The region is home to major manufacturing industries, including chemicals, automotive, and petrochemicals, all of which require catalysts for process optimization. The expansion of the automotive sector in countries like China and India drives demand for catalysts in emission control systems. Asia Pacific has a significant refining capacity, with countries like India leading in global refining operations. This growth in refining capacity supports the need for advanced catalysts in petroleum processing and production. The region’s increasing focus on sustainability and environmental regulations also influences the adoption of catalysts for pollution control and waste reduction. The region’s investment in renewable energy technologies, such as biofuels and hydrogen production, further stimulates demand for catalytic solutions. Governments in the region are actively promoting green initiatives, creating a favorable environment for catalyst market growth. For instance, in October 2024, NTPC collaborated with Indian Institute of Petroleum for making a catalyst that can manufacture methanol via the use of gases, which are emitted from fossil-fired power plant. Furthermore, the region benefits from a large manufacturing base for catalyst production, ensuring cost-effective and efficient supply chains.

Key Regional Takeaways:

United States Catalyst Market Analysis

In North America, the United States hold 94.70% of the market share. This catalyst market of the US is influenced by demand for more efficient as well as eco-friendly industrial processes. Enhanced attention toward controlling the greenhouse effect leads to catalytic technology of industrial types like petrochemical, automobile, and refiners. The Nature Conservancy reports that the average carbon footprint for a person in the United States is 16 Tons, one of the highest rates in the world. Stricter environmental regulations, including the implementation of Tier 3 standards by the Environmental Protection Agency (EPA), is compelling refiners to adopt catalysts for reducing sulfur content in fuels. There is also an increased production of chemicals and polymers due to shale gas exploration. The automotive industry is another area where catalysts are used largely, as a result of increasing demand for low-emission vehicles, which use catalysts in catalytic converters. As electric vehicles (EVs) become increasingly popular, studies on catalysts for battery technology and hydrogen fuel cells have picked up pace, further diversifying the application landscape. Another aspect is that some leading catalyst manufacturers in the US enhance the potential growth of the market as companies invest in large amounts on innovation and research and development (R&D).

Europe Catalyst Market Analysis

Europe's market is largely influenced by strict environmental laws and a deep dedication to sustainability. The European Union's bold climate objectives, which include reaching net-zero carbon emissions by 2050, are generating substantial demand for cutting-edge catalytic technologies. Regulatory frameworks, including Euro 7 standards for vehicle emissions and guidelines on industrial pollution management, are compelling industries to implement catalysts that decrease greenhouse gas emissions and enhance efficiency. In this context, the region's robust automotive industry is vital, featuring a significant prevalence of catalytic converters in cars to comply with emission regulations. Europe is a frontrunner in the advancement of electric and hydrogen-fueled vehicles, promoting research into catalysts for hydrogen fuel cells and battery innovations. Reports indicate that in 2023, almost 3.2 million new electric cars were registered in Europe, marking an increase of nearly 20% compared to 2022. Additionally, the increased use of biofuels and renewable energy increase the need for catalysts involved in biomass conversion and CO2 utilization processes. The chemical and petrochemical sectors in Europe are experiencing a change, moving towards circular economy models and utilizing sustainable raw materials. This has heightened the need for catalysts that facilitate effective plastic recycling and the creation of bio-based chemicals. Governments and industry stakeholders are investing significantly in research and development (R&D), concentrating on creating nano catalysts and other innovative materials to improve performance and decrease environmental effects.

Latin America Catalyst Market Analysis

The rich natural resources and expanding industrial foundation in Latin America are driving the market's expansion. The substantial oil and gas reserves in the region are influencing the growth of refining and petrochemical sectors, resulting in a higher demand for catalysts to improve production efficiency and satisfy quality requirements. According to the International Trade Administration, Brazil ranks as the leading oil producer in Latin America. The nation possesses the world's largest recoverable ultra-deep oil reserves, with 97.6% of Brazil’s oil output coming from offshore sources. In addition to this, the expanding importance of the agricultural sector in biofuel production, especially ethanol and biodiesel, is generating opportunities for catalysts in renewable energy processes. Regional governing bodies are advocating for biofuels within their energy transition plans, fostering advancements in catalytic technologies for biomass transformation. Environmental issues and more stringent emission laws are urging industries to embrace cleaner technologies, increasing the need for automotive and industrial emission control catalysts.

Middle East and Africa Catalyst Market Analysis

There is a rise in the demand for catalysts to improve operational efficiency and product quality due to extensive refining and petrochemical activities in the region. Countries like Saudi Arabia and the UAE are investing heavily in downstream operations, further driving the need for advanced catalytic technologies. Additionally, the demand for economic diversification and sustainable energy solutions is leading to increased focus on green technologies, including CO2 utilization and hydrogen production. Furthermore, the mining and mineral processing industries in Africa are creating opportunities for catalysts used in metallurgical processes. With supportive government policies and ongoing investments, the market shows significant growth potential. Besides this, the growing adoption of renewable energy and biofuels is catalyzing the demand for specialized catalysts in biomass conversion processes. As per data, Saudi Arabia plans to reach 50% renewable energy in the power mix by 2030 and net-zero emissions by 2060.

Competitive Landscape:

Key players are funding research and development (R&D) projects to create more efficient and sustainable catalytic solutions. By focusing on innovation, these companies enhance the boundaries of catalytic processes to meet evolving industry needs. Many leading firms collaborate with other industry stakeholders, such as research institutions, to improve catalyst technology. They develop advanced catalysts that are tailored to specific applications in industries like petrochemicals, automotive, and energy. Market leaders are also influencing trends by offering customized catalytic solutions for complex production processes. In response to stricter environmental regulations, these players are advancing eco-friendly catalysts that reduce harmful emissions. Key players are also expanding their production capacities worldwide to meet increasing demand across diverse sectors. In December 2024, BASF SE opened a new catalyst development and solids processing center in Ludwigshafen, Germany. The facility will focus on pilot-scale synthesis of chemical catalysts, enabling faster access to innovative technologies for global customers. It also plays a critical role in developing new solids processing technologies, improving BASF's research capabilities. The project is part of BASF's commitment to sustainable industrial processes, supporting the green transformation. Furthermore, they are continuously engaged in acquisitions and mergers for strengthening their market position and broadening their product portfolio.

The report provides a comprehensive analysis of the competitive landscape in the catalyst market with detailed profiles of all major companies, including:

• Albemarle Corporation
• Arkema S.A.
• Axens SA
• BASF SE
• Chevron Phillips Chemical Company LLC
• Clariant AG
• Dow Inc.
• Evonik Industries AG
• Exxon Mobil Corporation
• Honeywell International Inc.
• Johnson Matthey
• Shell plc
• W. R. Grace and Co. (Standard Industries Inc.)
• Zeolyst International Inc.

Latest News and Developments:

• January 2025: Scientists discovered new insights into tin-based catalysts for electrochemical CO₂ reduction. The electrochemical CO₂ reduction reaction (CO₂RR), especially when combined with renewable energy sources, is becoming a promising solution.
• November 2024: Researchers launched a platinum-nickel core-shell catalyst for oxygen reduction reactions. This design enhances efficiency and stability, tackling major catalyst performance challenges, and may lead to breakthroughs in renewable energy research.

Catalyst Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the catalyst market from 2019-2033.
• The catalyst market research report provides the latest information on the market drivers, challenges, and opportunities in the global market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the catalyst industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.