Catalysts Market: Current Analysis and Forecast (2021-2027)

Report Description

The global Catalysts market was stood around $33 billion in 2020 and is expected to demonstrate the growth of ~4% during the forecast period (2021-2027). The property of catalyst to initiates, accelerates, or selectively directs a chemical reaction without being consumed in the reaction is aiding catalysts to occupies place in both academic research and industrial areas including chemical synthesis, petroleum refining, polymer & petrochemical, and environmental, among others. For instance, it is estimated that catalysts are used in the manufacturing of 90% of commercially produced chemicals. Therefore, demand of catalyst is directly proportional to the production from such industries. Between 2010 to 2019, the global oil production had increased from 83,293 thousand barrels per day to 94,961 thousand barrels per day. This, in turn increase the demand of catalysts from petroleum refining industry as well as from petrochemical industry as these industries are highly interconnected with each other.

However, 2020 was a negative year for the catalyst market with the production from end use industry declined. For instance, production of oil declined to 88,391 thousand barrels per day in 2020 from 94,961 thousand barrels per day in 2019.

Insights Presented in the Report

“Amongst material, metals category held prominent share in the market in 2020.”

Based on material, the market is categorized into chemicals, metals, zeolites, and others. Among these, metals held the substantial share in the market as they found application at most of the catalyst application areas owing to their ability to exists in a variety of oxidation states, interchange between oxidation states, form complexes with organic ligands, and act as a good source of electrons. Examples of heterogeneous catalysts are pure metals such as platinum (Pt), palladium (Pd,) and iridium (Ir).

“Amongst type, heterogenous held the dominating position in the market in 2020.”

Based on type, the market is categorized into heterogenous catalyst and homogenous catalyst. Of both, heterogenous catalyst held the dominating position in the market in 2020 and is expected to retain its position during the forecast period. Heterogenous catalysts are consists of metals, metals alloys, metal oxides, metal sulfides, zeolites which are widely used in the industrial processes. Owing to which, heterogenous held the dominating share in the market.

“Large base of industrial process helped Asia Pacific region to obtain considerable market share”

For a better understanding of the market adoption of Catalysts, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World.  Asia Pacific held the significant market share in the global market owing to large and growing base of chemical, petroleum, and petrochemical industries and its associated sectors along with large automotive market in the market which requires catalytic convertors. Further, increasing focus on environmental protection has opened new areas of environmental catalyst in the region. This is further likely to boost the regional catalyst market.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Catalysts three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Catalysts industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Catalysts through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Catalysts market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by material, type, and application. Further regional and country-level analyses were conducted to evaluate the overall adoption of the Catalysts globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Catalysts. Further, we conducted factor analysis using dependent and independent variables such as growing concern to improve product yield and increasing concern on environment protection. A thorough analysis was conducted for demand and supply-side scenario considering increasing investment, top partnerships, merger and acquisition, business expansion, and product launches in the Catalysts industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Catalysts market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Catalysts across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Catalysts market in terms of revenue generated. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Catalysts market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of material, type, and application.

The main objective of the Catalysts market study

The current & future market trends of global Catalysts were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Catalysts in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of material, type, and application
• Defined analysis of the regulatory framework for the Catalysts industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Catalysts for the major countries
• Major regions/countries analyzed in the report includes North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
• Company profiles of the Catalysts market players and the growth strategies adopted by them to sustain in the growing market
• Deep dive country level analysis of the industry