Catalysts Market: By Type (Zeolites, Metals, Chemical Compounds, Enzymes and Organometallic Materials), By Application (Petroleum Refining, Chemical Synthesis, Polymer Catalysis and Environmental) and Geography  

Catalysts Market valued USD 36.9 billion in 2022 and is poised to grow at a CAGR of 4.7% from 2023-2029. Existence of policies supporting the manufacturing and use of catalysts, worldwide population growth together with rising economic development in developing economies, growing demand for petroleum refined products, environmental rules on emission control and rising income levels with vehicle ownership rates are some key factors fueling the market growth. However, factors such as inadequate availability of raw materials, limited development and distribution of new catalysts may limit the market growth. Chemical synthesis, petroleum refining, polymers and petrochemicals, and environmental applications are driving demand for process optimization, yield enhancement, cost-cutting, and energy-saving catalysts among businesses throughout the world. Environmental catalysts also assist firms in meeting all of the strict NOx, SOx, and carbon dioxide emission regulations. Catalyst demand has risen in response to changing energy trends toward alternative fuels such as biodiesel and shale gas fuel. Noble metals (platinum, palladium, ruthenium, rhodium, gold, and copper) and non-noble metals (tungsten and molybdenum) are utilised as catalyst raw materials for dehydrogenation and hydrogenation, although nickel and cobalt are also used. Breaking and rearranging aromatics and olefins to form fractions like alkanes and naphthenes is accelerated by these metals. Apart from metals and chemical compounds, zeolites are another common raw material used in catalysts. Their porosity and wide surface area make them ideal for catalysing and adsorbent applications. Zeolites' porous structure allows them to tolerate a wide range of ions.