Inorganic Catalyst Market By Product Type, By Manufacturers, By End-User And Market Trend Analysis Forecast 2033

The Inorganic Catalyst by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Inorganic Catalyst , The inorganic catalyst market size has grown steadily in recent years. It will grow from $25.77 billion in 2023 to $26.99 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to shift in chemical manufacturing practices, focus on catalytic efficienc, industrial automation, global market expansion, research and development..

The inorganic catalyst market size is expected to see steady growth in the next few years. It will grow to $32.45 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to industrial growth and expansion, demand in energy sector, rising demand for specialty chemicals, focus on sustainable practices.. Major trends in the forecast period include industry digitization and automation, increased environmental regulations, shift towards sustainable chemistry, rising demand in petrochemical industry, advancements in nanotechnology..

The growing demand for petroleum and petrochemical products is driving the inorganic catalysts market going forward. Petrochemicals are chemical products derived from crude oil and petroleum. Inorganic catalysts such as zeolite are widely used in petrochemical manufacturing for greater yield and efficiency. For instance, in 2021, according to the International Energy Agency, a France-based autonomous intergovernmental organization, the oil demand is forecasted to rise by 1.7 mb/d in 2023 and is expected to reach 104.1 mb/d by 2026. Similarly, petrochemicals would account for over a third of the growth in oil demand by 2030. As a result, the increasing demand for petroleum and petrochemicals is driving the inorganic catalysts market.

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The inorganic catalyst market covered in this report is segmented –

1) By Type: Zeolites, Metals, Chemical Compounds, Other Types

2) By Process: Recycling, Regeneration, Rejuvenation

3) By Applications: Petroleum Refining, Chemical Synthesis, Polymers And Petrochemicals, Environmental

Technological advancements are a key trend gaining popularity in the inorganic catalysts market. Major companies in the market are introducing innovative technologies such as the tri-metal catalyst technology to sustain their position in the market. For instance, in October 2023, Grace & Co, a US-based chemical company, launched PARAGON™ FCC catalyst technology. The PARAGON FCC catalyst combines a new, rare-earth-based Vanadium (V) trap into high matrix surface area FCC unit catalytic solutions. With PARAGONTM technology, refiners can expand their FCC operating window and increase their flexibility to process a variety of feedstocks for increased profitability.

The inorganic catalyst market report table of contents includes: