Global Heterogeneous Catalyst Market Size Insights Forecasts to 2032

• The Global Heterogeneous Catalyst Market Size was valued at USD 19.5 Billion in 2022.
• The Market Size is Growing at a CAGR of 6.2% from 2022 to 2032.
• The Worldwide Heterogeneous Catalyst Market Size is expected to reach USD 35.7 Billion by 2032.
• North America is expected to Grow the fastest during the forecast period.

The Global Heterogeneous Catalyst Market Size is expected to reach USD 35.7 Billion by 2032, at a CAGR of 6.2% during the forecast period 2022 to 2032.

Heterogeneous catalysts are chemical catalysts that have a distinct physical phase from the reactants and/or products involved in the catalyzed chemical reaction. Solid phase heterogeneous catalysts are commonly used for easing the breakdown of two gaseous reactants. Metal catalysts, metal oxides, metal chalcogenides, and metal free catalysts are less expensive than homogeneous catalysts, making them suitable as electrocatalysts. Heterogeneous catalysis is critical because it allows for speedier, large-scale manufacturing as well as selective product generation. Heterogeneous catalysts are particularly valuable because they allow for the relatively large-scale manufacturing of various commercially relevant compounds. Heterogeneous catalysts play an important role in industrial chemical extraction. They are preferred due to their resilience and lower operating costs, especially due to better recovery/separation from the products, which allows for the optimization of chemical processes. The global market is projected to expand in the coming years as a result of economic Growth in newly industrialized nations, a greater understanding of the benefits of heterogeneous catalyst costs among developed nations, rising output and Growing capacities in the chemical industry, and the robust development in the pharmaceutical and food & beverage sectors in developing countries.

Driving Factors

Heterogeneous catalysis is now considered to be among the most important industrial processes in chemical manufacturing. Catalysts like these are commonly utilized in industrial operations like oil refining, chemical synthesis, and energy generation. The expansion of these industries, combined with demands for improved efficiency and environmentally friendly operations, raises consumer demand. These products aid in the conversion of heavy crude oil fractions into lucrative gasoline, diesel, and other refined products, resulting in the most efficient use of indigenous crude oil resources.

Heterogeneous catalysts are also utilized in different stages of petrochemical and chemical production, such as cracking, hydrogenation, oxidation, and isomerization. The expansion of end-use sectors such as automotive, construction, and packaging is driving demand for petrochemicals and chemicals. These sectors require a diverse range of materials and chemical products for their production methods, which boosts petrochemical demand. Petrochemicals are used in the construction sector to make a variety of building materials such as insulation, pipelines, and roofing materials. Furthermore, demand for petrochemicals and chemicals is predicted to rise further due to the rising worldwide populations, gentrification, and the expansion of emerging economies. Moreover, the drive for sustainability and lower emissions is boosting demand for heterogeneous catalysts that can assist greener energy and chemical manufacturing processes. Regulations and policies aiming at decreasing emissions and improving air quality also stimulate the adoption of sustainable catalysts. Companies are additionally making investments in R&D to generate more sustainable catalysts.

Restraining Factors        

The high cost of heterogeneous catalysts, on the other hand, could hamper their use in certain applications, especially in industries where cost is a significant concern. The production and processing of heterogeneous catalysts necessitates specific equipment and expertise, which can lead to increased prices. The cost of raw materials used in the manufacture of heterogeneous catalysts can also contribute to the cost in general. Furthermore, limited raw material availability might lead to greater prices and supply chain concerns, limiting the use of heterogeneous catalysts in some applications. This can be especially difficult for small and medium-sized businesses, which may lack the capacity to obtain legitimate raw material sources.

Market Segmentation

By Product Insights

The metal-based segment is dominating the market with the largest revenue share over the forecast period.

On the basis of product, the global heterogeneous catalyst market is segmented into the metal-based, chemical-based, zeolites-based, and others. Among these, the metal-based segment is dominating the market with the largest revenue share of 38.6% over the forecast period. This is due to the widespread usage of metal-based catalysts such as platinum, palladium, and rhodium in industries such as petroleum refining, petrochemicals, and car manufacturing. These items enable critical processes in the petroleum refining business, such as catalytic cracking and hydrotreating, aiding the processing of crude oil into valuable fuels and related products. Metal-based materials are also used in catalytic converters, which reduce greenhouse gases from vehicles while simultaneously supporting environmental sustainability.

By Application Insights

The petroleum refining segment accounted for the largest revenue share of more than 34.2% over the forecast period.

On the basis of application, the global heterogeneous catalyst market is segmented into petroleum refining, chemical synthesis, polymer, environmental, and others. Among these, the petroleum refining segment is dominating the market with the largest revenue share of 34.2% over the forecast period. Heterogeneous catalysts are critical in the petroleum refining industry for a variety of refining processes such as fluid catalytic cracking, hydrocracking, alkylation, and reforming. These catalysts assist in the transformation of crude oil components into usable products such as gasoline, diesel, kerosene, and others. They also aid in the improvement of gasoline octane and the removal of sulfur and nitrogen molecules, both of which are environmental contaminants. The petroleum refining segment has always been critical in the heterogeneous catalyst industry due to the global demand for energy and refined petroleum products. Furthermore, advances in refining technologies have resulted in more efficient procedures that make better use of catalysts over time.

Regional Insights

Asia Pacific dominates the market with the largest market share over the forecast period.

Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. With its tremendous industrial Growth, the Asia Pacific region has emerged as a key participant in the worldwide heterogeneous catalyst market. Catalyst demand has increased in countries such as China, India, and South Korea due to strong industrial Growth, particularly in the chemical and petrochemical sectors. Additionally, the region's Growing automobile sector, combined with emission control rules, has increased the usage of heterogeneous catalysts in pollution control systems. Furthermore, the region's thriving chemical industry uses catalysts in a variety of processes ranging from polymer synthesis to specialty chemicals. Moreover, as urbanization Grows, there is a greater emphasis on pollution reduction, resulting in a greater demand for catalysts in the region.

North America, on the contrary, is expected to Grow the fastest during the forecast period. North America has a solid industrial foundation that is dependent on heterogeneous catalysts, particularly in petrochemical refineries, chemical industries, and environmental applications. The United States and Canada have sizable petrochemical sectors that rely on heterogeneous catalysts for refining and derivative manufacturing. Strict environmental rules, particularly those governing automobile and industrial process emissions, fuel the demand for heterogeneous catalysts to reduce pollution.

The Europe market is expected to register a substantial CAGR Growth rate during the forecast period. Europe is a major player in the heterogeneous catalyst market due to its long history in the chemical and automotive industries. European research institutions are at the front edge of catalyst research, generating innovation and novel uses for heterogeneous catalysts.

List of Key Market Players

• Clariant AG
• BASF SE
• Axens
• Umicore
• Exxonmobil Corporation
• Dow Chemical Company
• Evonik Industries AG
• Johnson Matthey
• Haldor Topsoe A/S
• Honeywell UOP
• Rio Tinto Ltd.
• W.R. Grace and Co
• Zeolyst International
• Albemarle Corporation
• Dorf Ketal Chemicals (I) Pvt. Ltd.
• Chevron Phillips Chemical Company LLC
• The Dow Chemical Company
• LyondellBasell Industries Holdings B.V.

Key Market Developments

• On January 2023, Heraeus Precious Metals and Hulteberg Chemistry & Engineering AB have formed a strategic alliance to develop and market a wide range of catalysts used in the operation of solid oxide fuel cells (SOFC). The collaboration will strengthen both companies' positions in the emerging fields of SOFCs and the hydrogen economy. Hulteberg Chemistry & Engineering AB specializes in heterogeneous catalyst research, development, and production, with an emphasis on hydrogen production, electronics, and renewable and recycled fuels and chemicals.

• In January 2022, BASF SE announced a €90 million investment in China to increase catalyst production capacity. The investment will help to meet China's expanding demand for emissions-reduction technologies.

• In May 2021, Albemarle Corporation announced intentions to invest $30 million in Germany to increase its lithium hydroxide production capacity. The investment will help meet the rising demand for lithium-ion batteries in the automotive and energy storage sectors.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Heterogeneous Catalyst Market based on the below-mentioned segments:

Heterogeneous Catalyst Market, Product Analysis

• Metal-based
  • Iron
  • Nickel
  • Copper
  • Others
• Chemical-based
• Zeolites-based
  • Mordenite (MOR)
  • Zeolite Y
  • MFI
  • FER
  • BEA
  • Others

Heterogeneous Catalyst Market, Application Analysis

• Petroleum Refining
• Chemical Synthesis
• Polymer
• Environmental
• Others

Heterogeneous Catalyst Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa