Overview and Scope
A heterogeneous catalyst is a catalyst that exists in a different phase from the reactants and products of the chemical reaction it catalyzes. It is widely used in various industries due to its ease of separation, recyclability, and often higher thermal stability than homogeneous catalysts.
Sizing and Forecast
The heterogeneous catalyst market size has grown strongly in recent years. It will grow from $26.42 billion in 2023 to $27.92 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to increased applications in the automotive sector, increased need for emissions control, increased use in the production of biofuels, increased demand for hydrogen, rise in demand for zeolites.
The heterogeneous catalyst market size is expected to see strong growth in the next few years. It will grow to $35.28 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to increasing demand for efficient and sustainable chemical processes, stringent environmental regulations, growing emphasis on sustainability, transition to cleaner energy sources, growing demand for petrochemicals. Major trends in the forecast period include advancements in nanotechnology, demand for novel catalyst materials, advancements in catalytic converters, demand for chemical synthesis, demand for metal-based catalysts.
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Segmentation & Regional Insights
The heterogeneous catalyst market covered in this report is segmented –
1) By Product: Metal-Based, Chemical-Based, Zeolites-Based, Other Products
2) By Application: Petroleum Refining, Chemical Synthesis, Environmental Catalysis, Polymerization, Hydrogenation, Other Applications
3) By End-User Industry: Oil And Gas, Chemicals And Petrochemicals, Environmental, Other End-User Industries
Asia-Pacific was the largest region in the heterogeneous catalyst market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heterogeneous catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for chemicals is expected to propel the growth of the heterogeneous catalyst market going forward. The growing demand for chemicals is due to growth demand from manufacturing, pharmaceuticals, and agriculture industries, technological innovations, and a shift towards sustainable practices and green technologies. The heterogeneous catalysts play a critical role in meeting the growing demand for chemicals across various industries by improving chemical processes’ efficiency, cost-effectiveness, scalability, and environmental sustainability. For instance, in July 2023, according to the US Bureau of Labor Statistics, a US-based government agency, the trade value of the US chemical manufacturing products exported in 2022 amounted to $288.0 billion, reflecting a growth of 13.4% compared to 2021. Therefore, the increasing demand for chemicals drives the demand for the heterogeneous catalyst market.
Key Industry Players
Major companies operating in the heterogeneous catalyst market are Shell Plc, BASF SE, ExxonMobil Chemical, Rio Tinto Ltd., SABIC Corp., LyondellBasell Industries Holdings B.V., Honeywell International Inc., Heraeus Group, Evonik Industries AG, Johnson Matthey Plc, Sinopec Group, Solvay SA, DuPont de Nemours Inc, Arkema Group, INEOS Group AG, Albemarle Corporation, Clariant International AG, JGC Catalysts and Chemicals Ltd, Umicore NV, Haldor Topsoe A/S, Axens SA, Gelest Inc., Zeolyst International Inc, AGGARWAL Chempack Industries Private Limited, W.R. Grace & Co
The heterogeneous catalyst market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
………
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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