Industrial Catalyst Market

Global Industrial Catalyst Market:

The global industrial catalyst market size reached USD 24.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 33.1 Billion by 2033, exhibiting a growth rate (CAGR) of 3.34% during 2025-2033. The expanding petrochemical industries, ongoing technological advancements, and the shift towards renewable energy are primarily driving the market.

Industrial Catalyst Market Analysis:

• Major Market Drivers: The rising establishment of petrol refining capacities and the need for various chemical products and eco-friendly fuels are positively influencing the market. In addition, extensive investments in R&D activities are acting as significant growth-inducing factors.
• Key Market Trends: The development of nano-catalysts that assist in enhancing catalytic procedures in the pharmaceutical and food and beverage (F&B) industries is bolstering the market. Moreover, strategic collaborations amongst leading industry players to enhance catalyst efficiency while minimizing operational costs are propelling the market growth.
• Competitive Landscape: Some of the prominent market companies include Albemarle Corporation, Arkema S.A., BASF Corporation, Clariant AG, Evonik Industries AG, Exxon Mobil Chemical Corporation, Akzo Nobel N.V., Chevron Phillips Chemical Company, and The DOW Chemical Company, among many others.
• Geographical Trends: Asia Pacific dominates the overall market. Rapid industrialization in major economies like China, India, Japan, and Southeast Asia is leading to increased demand for industrial catalysts across sectors, such as chemicals, petrochemicals, and energy.
• Challenges and Opportunities: Fluctuating raw material prices and high competition from low-cost manufacturers are hampering the market. However, the shift towards renewable energy sources and sustainable technologies, such as biofuels, hydrogen, and carbon capture, presents a major opportunity for catalyst manufacturers.
   

Industrial Catalyst Market Trends:

Growing Petrochemical Industry

The growing petrochemical industry is a major driving force behind the expansion of the market. For instance, according to IMARC, the global petrochemicals market size reached US$ 616.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 949.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032. Industrial catalysts are crucial in petrochemical processes as they accelerate chemical reactions, improve efficiency, and ensure higher yields of desired products. This is escalating the industrial catalyst market demand.

Expanding Renewable Energy Sector

The growing consumption of renewable energy is a significant driver of growth in the market. For instance, according to the International Energy Agency (IEA), as part of the Net Zero Emissions Scenario 2021-2050, hydrogen and hydrogen-based fuels could avoid up to 60 gigatonnes of CO2 emissions, equivalent to 6% of total cumulative emissions reductions. As per the industrial catalyst market analysis report, this is acting as a significant growth-inducing factor. As per the industrial catalyst market analysis report, this is acting as a significant growth-inducing factor.

Environmental Regulations

Governments across various regions are setting goals to reduce greenhouse gas emissions, particularly in industries like power generation, refining, and manufacturing. For instance, the regulatory authority of Japan has implemented energy policies aiming at achieving carbon neutrality, or net-zero greenhouse gas (GHG) emissions, by 2050 through emissions reductions in the electric generation, industrial, and transportation sectors. Industrial catalysts are essential in processes like catalytic combustion and selective catalytic reduction (SCR), which help in reducing harmful emissions, including nitrogen oxides (NOx) and carbon dioxide (CO₂).

Global Industrial Catalyst Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with the industrial catalyst market forecast at the global and regional levels from 2025-2033. Our report has categorized the market based on type, raw material, and application.

Breakup by Type:

• Heterogeneous Catalysts
• Homogeneous Catalysts
• Biocatalysts
   

Heterogeneous catalysts exhibit a clear dominance in the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes heterogeneous catalysts, homogeneous catalysts, and biocatalysts. According to the report, heterogeneous catalysts represented the largest market segmentation.

According to the industrial catalyst market outlook, heterogeneous industrial catalysts are vital in numerous industrial processes because of their ability to speed up reactions while remaining in a different phase than the reactants (typically solids interacting with gases or liquids). Moreover, they are extensively used in the petrochemical and refining sectors, particularly in processes, such as cracking, reforming, hydrodesulfurization, and hydrotreating.

Breakup by Raw Material:

• Mixed
• Oxide
• Metallic
• Sulfide
• Organometallic
   

Mixed account for most of the market share

The report has provided a detailed breakup and analysis of the market based on the raw material. This includes mixed, oxide, metallic, sulfide, and organometallic. According to the report, mixed represented the largest market segmentation.

According to the industrial catalyst market forecast report, mixed catalysts can involve combinations of metallic, oxide, or other types tailored for specific industrial reactions. The demand for chemicals, such as ammonia (for fertilizers) and methanol, is a major driver, particularly in agricultural and petrochemical industries. Moreover, mixed catalysts are also used in renewable energy processes, such as biomass conversion and green ammonia production, contributing to demand growth. Besides this, as industries seek to optimize gas processing and reduce carbon emissions, mixed catalysts find applications in syngas production, carbon capture, and gas purification.

Breakup by Application:

• Petroleum Refinery
• Chemical Synthesis
• Petrochemicals
• Others
   

Petroleum refinery presently holds the largest market share

The report has provided a detailed breakup and analysis of the market based on the application. This includes petroleum refinery, chemical synthesis, petrochemicals, and others. According to the report, petroleum refinery represented the largest market segmentation.

According to the industrial catalyst market outlook report, the extensive use of catalysts in refining processes, combined with the global dependence on petroleum products, has made refineries a key driver of catalyst demand. Moreover, catalysts are essential in transforming crude oil into valuable products like gasoline, diesel, jet fuel, and other petrochemical feedstocks. Furthermore, increasingly stringent environmental regulations on fuel emissions have driven demand for advanced catalysts that enable refineries to produce low-sulfur fuels and reduce harmful emissions.

Breakup by Region:

• Asia Pacific
• North America
• Europe
• Middle East and Africa
• Latin America
   

Asia Pacific currently holds the leading position in the market

The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. According to the report, Asia Pacific holds a leading position in the market.

According to the industrial catalyst market share, Asia Pacific countries are undergoing rapid industrialization, which is fueling demand for energy, chemicals, and manufactured goods. Moreover, the region is home to several of the world's largest and most modern refineries, particularly in China, India, South Korea, and Japan. The region's refining capacity is expanding to meet rising fuel demand both domestically and for export. This growth drives the demand for catalysts used in refining processes like fluid catalytic cracking (FCC), hydrotreating, and hydrocracking. Countries in Asia-Pacific are increasingly adopting environmental regulations to combat air pollution. For instance, in September 2024, the government of the Jakarta, Indonesia, planned to deliver low-sulfur fuel without raising fuel prices, giving the public access to better quality and cleaner fuel.

Competitive Landscape:

The industrial catalyst market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include: 

• Albemarle Corporation
• Arkema S.A.
• BASF SE
• Clariant AG
• Evonik Industries AG
• Exxon Mobil Chemical Co
• Akzo Nobel N.V.
• Chevron Phillips Chemical Company
• The DOW Chemical Company
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Industrial Catalyst Market Recent Developments:

• August 2024: Catalyst Power Holdings LLC, an independent integrated provider of retail power and cleaner energy solutions for the commercial and industrial sectors, launched retail electricity services in Maryland.
• August 2024: BASF Catalysts India (BCIL), the Indian subsidiary of BASF Environmental Catalyst and Metal Solutions (BASF ECMS), established a new Research, Development, and Application (RD&A) laboratory at Mahindra World City, Chennai, Tamil Nadu.
• March 2024: Evonik introduced Octamax, a catalyst that improves sulfur removal in refinery fuels and promotes industry sustainability.

Industrial 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 industrial catalyst market from 2019-2033.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global industrial catalyst market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assists 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 industrial catalyst industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.