Catalyst Market size to grow by USD 5.80 billion from 2021 to 2026|Growing rate of industrialization is one of the key drivers - Technavio

NEW YORK, July 4, 2023 /PRNewswire/ -- The catalyst market size is estimated to increase by USD 5.80 billion from 2021 to 2026. The market is estimated to grow with a CAGR of 4.20%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The catalyst market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of the vendors listed Below -

Albemarle Corp., BASF SE, Chevron Phillips Chemical Co. LLC, Clariant International Ltd., Dorf Ketal Chemicals (I) Pvt. Ltd., Dow Inc., Evonik Industries AG, Exxon Mobil Corp., Johnson Matthey Plc, and W. R. Grace and Co. Download a Sample Report!

Catalyst market - Segmentation Analysis

This report extensively covers catalyst market segmentation by type (heterogeneous catalyst and homogeneous catalyst) and geography (APAC, North America, Europe, South America, and MEA). 

• The market share growth by the heterogeneous catalyst segment will be significant during the forecast period. The growth can be attributed to the factor that the heterogeneous catalysts are being widely preferred by the end-users owing to the ease of separation from the products. Furthermore, these catalysts are used in various critical industrial processes owing to their capability of accelerating the rate of reactions with high conversion, cost efficiency, and enhanced product selectivity. Hence, there is an increase in the demand for heterogeneous catalysts for oil refineries, fine chemical synthesis, energy production, and bulk chemical production, among others.

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Catalyst market - Market Dynamics

Key Drivers

The rising rate of industrialization in emerging economies is one of the key drivers influencing market growth during the forecast period. Catalysts are used in various industries, including oil and gas, polymer synthesis, chemicals, and consumer goods. Hence, the growth of the market in focus is highly influenced by the growing rate of industrialization across the world, especially in emerging economies. The rising number of consumer goods companies and polymer production companies in APAC is another factor that will significantly trigger the demand for catalysts used in these industries during the forecast period.

Major Challenges

Stringent regulations by regulatory agencies are a significant challenge impeding the growth of the global catalyst market. Various agencies that are involved in the regulation are the US Environmental Protection Agency (EPA) and the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH). These agencies regulate the production and distribution of volatile organic compound (VOC) content of specialty chemicals, such as catalysts used in paints and coatings, adhesives, and sealants. VOC limit on the usage of a variety of products, including catalysts, adhesives, and sealants in industrial and commercial applications, will hamper the catalyst market growth during the forecast period.

Catalyst market - Geographic Analysis
The market is segmented by region APAC, North America, Europe, South America, and MEA. An analysis of key leading countries has been included.

• APAC is estimated to account for 37% of the global market growth. Market growth in the region will be faster than the growth of the market in other regions. Factors such as rapid industrialization and the increasing demand for agrochemicals, petrochemicals, food additives, and agrochemicals will facilitate the catalyst market growth in APAC over the forecast period. Hence, such factors boost the growth of the regional market during the forecast period.

For insights on the market dynamics & segmentations VIEW PDF SAMPLE !

What are the key data covered in this catalyst market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the catalyst market between 2022 and 2026
• Precise estimation of the size of the catalyst market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the catalyst market across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of catalyst market vendors

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Table of Contents

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Type

• Market segments
• Comparison by Type
• Heterogeneous catalyst - Market size and forecast 2021-2026
• Homogeneous catalyst - Market size and forecast 2021-2026
• Market opportunity by Type

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2021-2026
• North America - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Albemarle Corp.
• BASF SE
• Chevron Phillips Chemical Co. LLC
• Clariant International Ltd.
• Dorf Ketal Chemicals (I) Pvt. Ltd.
• Dow Inc.
• Evonik Industries AG
• Exxon Mobil Corp.
• Johnson Matthey Plc
• W. R. Grace and Co.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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