The global catalyst market was valued at ~$35.3 billion in 2020. The market is forecast to grow at a CAGR of ~4.5% during the forecast period from 2021-2027. 

It is a chemical compound that lowers or raises the activation energy of a reaction, thus increasing the rate at which it occurs. In contrast, the metals are not corroded during the reaction, they may also be recycled after treatment. In the market, catalysts come in various types, including zeolites, metals, chemicals, enzymes, and organometallic materials. There are two types of zeolites: naturally occurring ones and synthetic ones that are porous, hydrated aluminosilicates. Their crystal structure makes them most useful as molecular sieves since they act as molecular sieves. Metals are used by industry as industrial catalysts since most metals have an abundance of electrons in their valence state. The catalysts can then use these free electrons to aid in their reaction before resuming their function. 

Factors Affecting the Global Catalyst Market

• Researchers have increasingly focused on heterogeneous metal catalysts to overcome the limitations of homogeneous metal catalysts to maximize product yields while minimizing side reactions. The market growth factors mentioned above is the major catalysts.
• Scientists have demonstrated that carbon nanotubes doped with nitrogen and augmented with cobalt atoms can produce hydrogen from water, replacing platinum as an effective and durable catalyst for energy conversion. These factors together spur the growth of the global catalyst market.
• There are many different types of chemical reactions and different catalysts are required for each. Catalyst market growth is hampered by this factor. 
• The advantage of using base metal catalysts is that apart from being abundant and low cost, they also exhibit low toxicity and are environmentally benign. Global catalyst market experts anticipate new opportunities with this factor. 

Covid-19 Impact: The Global Catalyst Market

• Several industries have been adversely affected following the Covid-19 pandemic, including oil and gas, chemical manufacturing, polymer catalysis, automotive, and others. 
• During Covid-19, oil refineries have been temporarily closed, which has caused disruptions in demand and supply. The oil refineries were severely affected by this, especially in the area of catalysts used for desulfurization, fluid catalytic cracking (FCC), and other purposes. 
• The majority of chemical manufacturing companies that use catalysts for chemical synthesis, hydroprocessing, and other processes have either shut down or reduced their operations due to the risk of infections among the workforce. It has temporarily hampered the demand for catalysts during the period of Covid-19. 
• Due to the falling incomes of customers, sales of both light and heavy-duty vehicles have declined, thereby decreasing the need for catalysts in the automotive sector.
• Several key players are continually looking for new investment opportunities as Covid-19 unfolds. 

Regional Outlook- The Global Catalyst Market

During the expected period, Asia-Pacific's catalyst market size is projected to have the highest growth rate. Due to Asia's growing population, improving infrastructure, and stable economic growth, compounded catalyst consumption is expected to grow in the region. The highest increases in demand for polymer products and environmental catalysts are expected in emerging markets like China and India. Over the next few years, China is expected to increase its growth rate because of ample coal-to-chemicals processes and shale gas investments.

Key Players: The Global Catalyst Market

The prominent players in the Global Catalyst Market are: 

• Albemarle Corporation Johnson Matthey
• Johnson Matthey
• W.R. Grace and Co
• BASF SE 
• Clariant AG
• Dorf Ketal Chemicals (I) Pvt. Ltd.
• Dow Chemical Company
• Chevron Phillips Chemical Company LLC
• Evonik Industries AG
• Exxonmobil Corporation

Aim of the Report: The Global Catalyst Market

The global catalyst market is segmented on the basis of Application, Process, Type, and Region.

Segmentation based on Application

• Petroleum Refining
• Fluid Catalytic Cracking (FCC)
• Alkylation Catalysts
• Hydro Processing Catalysts
• Catalytic Reforming
• Others
• Chemical Synthesis
  • Polyolefins
  • Catalytic Oxidation
  • Hydrogenation Catalysts
  • Others
• Polymer Catalysis
  • Ziegler Natta
  • Reaction Initiator
  • Single Site
  • Others
• Environmental
  • Light-Duty Vehicles
  • Heavy-Duty Vehicles
  • Others

Segmentation based on Process

• Recycling
• Regeneration
• Rejuvenation

Segmentation based on Type

• Zeolites
• Linde Type A (LTA)
• Faujasite (FAU)
• Mobil Five (MFI)
• Others
• Metals
  • Base Metals
  • Precious Metals
• Chemical Compounds
  • Acids
  • Amines
  • Peroxides
  • Other Chemicals
• Enzymes
• Organometallic Materials

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America