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Precious Metal Catalysts Market - Global Outlook & Forecast 2022-2027

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    Report

  • 234 Pages
  • December 2022
  • Region: Global
  • Arizton
  • ID: 5699647
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The global precious metal catalysts market is expected to grow at a CAGR of 5.51% during 2021-2027. Factors such as the rapidly increasing global population, spreading of new infectious diseases, increasing transportation activities, and increasing agriculture are leading the growth of the precious metal catalysts market. China, India, Japan, and South Korea led APAC’s precious metal catalysts market, whereas, in North America, US & Canada are the major markets for precious metal catalysts. The global precious metal catalysts market demand is increasing due to increasing awareness and changing government policies.

Precious metal catalysts are the metal substances used for the increasing rate of a chemical reaction by offering oxidation and carrion resistance properties. Six precious metal catalysts come from platinum group metal (PGM), such as platinum, palladium, rhodium, ruthenium, iridium, and osmium. The precious metal catalyst is also called a noble metal catalyst. These are used in various industries for various purposes, such as in the pharmaceutical industry; these are used in manufacturing drugs for DNA/RNA treatment, cancer, heart-related disease, and other treatments.

Precious metal catalysts are used in various pharmaceutical, automotive, aerospace, oil & gas, agrochemical, and other industries. Due to emerging technology, sustainability is increasing all over the world. Companies are adopting sustainable standards in their manufacturing processes. To improve sustainability, the companies are training their suppliers and improving supplier's sustainability and found that they are getting good financial returns from such investments. Companies have started using precious metal catalysts instead of chemical catalysts to improve sustainability. Thus, boosting the growth of the precious metal catalysts market.

MARKET DRIVERS & OPPORTUNITIES

Increase in Investment in Refinery Sector and Increasing Environmental Concern

  • Precious metal catalysts are beneficial in reducing carbon emissions in the oil & gas industry. In the conversion method of oil refining, catalysts are required for cracking hydrocarbons and converting them into lighter molecules. Platinum, Ruthenium, Palladium, and Rhodium are the precious metals catalyst used in the catalytic reaction process in oil & gas, thereby boosting the precious metal catalysts market growth.
  • The increasing demand for natural resources and fossil fuels is causing biodiversity loss and environmental degradation. Further, in the water sector, dumping human and industrial waste, including personal care and pharmaceutical products, in the water is causing increased contamination levels. Also, after the COVID-19 pandemic, people are focusing on the role of air pollution & hazardous gases. Even the government has restricted air pollution and has given regulatory norms. Due to this, various companies have increased the usage of precious metal catalysts in their production, which helps to reduce carbon emissions.

Increasing Demand from Automotive

  • Combustion engines play a crucial role in the automotive industry for operating vehicles. In combustion engines, the fuel is used for producing large amounts of energy. Primarily hydrocarbons are used as a fuel in the combustion engine. In combustion engines, hydrocarbons have polluting substances and harmful chemicals such as nitrogen oxide and carbon monoxide. Platinum, palladium, and rhodium metal catalysts reduce carbon emissions from motor vehicle exhaust, boosting the global precious metal catalysts market share in the automotive industry.

INDUSTRY CHALLENGES

Precious Metal Catalysts Price Volatility

  • The fluctuation in the price is a big challenge for companies that work in the precious metal catalysts market. They are the restraints that affect the success of the business, such as competitiveness, capital commitment, and margin, as per the secondary data of Heraeus Holding. Handling this volatility in the price of precious metals is very crucial. It requires the right conditions, such as expertise, time, and experience.
  • Platinum and other metals are rare; thus, the price is higher than gold. Also, the usage of platinum is high in the jewelry industry, and its demand is increasing from the automotive industry to reduce carbon emissions in motor vehicles. With the changing government regulations about carbon emissions, companies focus on lowering carbon emissions. Thus, platinum metal catalyst usage is increasing, accounting for the price of precious metals. But, the disadvantage of investing in precious metals is that there will be no cash flow; thus, the investor will not receive income, making the price of precious metal catalysts volatile.

MARKET SEGMENTATIONS

INSIGHTS BY TYPE

The platinum precious metal catalyst market holds the largest market share and is expected to cross USD 8.52 billion by 2027. Platinum is a chemical element and a member of the platinum group metal. Platinum is a rare metal found in the earth’s crust. Due to these properties, the demand for the platinum metal is very high. Platinum catalysts are the most active catalyst in oxidization reactions. In motor vehicles, it is used to resist carbon emission in combustion engine exhaust.

Palladium is the 2nd largest precious metal catalyst used in the world, as per the data from the US Department of Energy. In the oil & gas industry, palladium is used as a catalyst for running hydrocracking. Palladium metal catalyst is used to reduce the automotive industry's carbon emissions. It absorbs hazardous particles in the exhaust of the combustion engine. In alcohol production, it is used for the oxidation of alkaline media.

Segmentation by Type

  • Platinum
  • Palladium
  • Rhodium
  • Ruthenium
  • Other

INSIGHTS BY END-USE

The global pharmaceutical precious metal catalysts market is the largest segment under end-use, growing at a CAGR of 6.84% during the forecast period. The high share of the pharmaceutical segment is attributed to the demand for pharmaceutical products being expected to grow significantly during the forecast period. The pharmaceutical industry uses catalysts for molecular biology, medically important extraction compounds, diagnostic procedures, chemical pharmaceutical manufacturing, and deficiencies supplements. There is a massive demand for the precious metal catalysts used in drug manufacturing to treat infectious diseases. Further, the demand for pharmaceutical products is increasing due to the rapidly growing population and changing variants of chronic diseases.

The global oil & gas precious metal catalysts market was valued at USD 3.718 billion in 2021. The industry is growing rapidly after the COVID-19 pandemic. The global demand for gasoline oil is very high due to increasing usage in various industries. Further, the palladium, platinum, ruthenium, and rhodium catalysts are used in the catalytic reactions in the oil & gas industry. For separating gasoline from heavier oils, catalysts play a crucial role.

Segmentation by End-Use

  • Pharmaceutical
  • Oil & Gas
  • Automotive
  • Other

GEOGRAPHICAL ANALYSIS

APAC holds the largest global precious metal catalysts market share, accounting for 44.46% in value. The region is led by China, India, Japan, South Korea, and others, where the penetration of precious metal catalysts is very high, and revenue has been increasing steadily. The rapidly developing infrastructure, readily increasing population, and growing demand from various industries such as pharmaceutical, automotive, oil & gas drive the region’s growth.

North America's precious metal catalysts market was valued at USD 3.4 billion in 2021 and was the second-largest industry. The region is one of the largest producers of vehicles. US & Canada are the major markets in the global automotive industry. Thus, the region's demand for platinum & palladium catalysts is increasing rapidly. Alfa Chemistry (US) and Sabin Metal Corporation (US) are significant companies that produce platinum & palladium catalysts for usage in agricultural chemicals. Europe’s precious metal catalysts market is growing with a CAGR of 5.38 during the forecast period. The region was led by countries like Germany, France, Italy, Spain, the UK, and others. The demand for pharmaceutical products is increasing in Europe due to growing infectious diseases, pushing the demand for precious metal catalysts in the region.

Segmentation by Geography

  • Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Rest of Europe
  • North America
  • US
  • Canada
  • APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of APAC
  • Latin America
  • Brazil
  • Mexico
  • Rest Of Latin America
  • Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of MEA

VENDOR LANDSCAPE

The major companies in the precious metal catalysts market follow the merger and acquisition strategy; this gives companies a competitive advantage that boosts the market share of the company. The key companies have undertaken various strategies to grow in the precious metal catalysts market. Investments in R&D, technological advancement, and environmental and economic challenges are driving the demand for innovative and sustainable precious metal catalysts products. Companies in the market are competing strategically, whereas growth in a sustainable manner has been a challenge for all companies globally.

Some major players in the global precious metal catalysts market include BASF SE (Germany), Johnson Matthey (UK), Evonik (Germany), Umicore (Germany), and Heraeus Holding (Germany). These players have adopted expansion, acquisitions, new product development, joint ventures, and others to increase their market revenues. Furthermore, other prominent companies such as Clariant (Switzerland), American Elements (US), Kaili Catalysts (China), Dyadic International (US), and others have invested significant capital in R&D to develop precious metal catalysts-based products that will appeal to the customers. Therefore, these other prominent companies are giving tough competition to major companies.

Key Vendors

  • BASF SE
  • Evonik
  • Johnson Matthey
  • Heraeus Holding
  • Umicore

Other Prominent Vendors

  • Alfa Chemistry
  • American Elements
  • Arora Matthey Limited
  • Clariant International Ltd.
  • Chimet S.p.A.
  • Dongguan City Betterly New Materials Co., Ltd.
  • Halder Topsoe A/S
  • J&J Materials Inc.
  • Kaili Catalyst New Materials CO., LTD
  • N.E. Chemcat Corporation
  • Synthesis with Catalysts Pvt. Ltd. (SWC)
  • Sabin Metal Corporation
  • Souvenier Chemicals
  • Stanford Advanced Materials
  • Takasago International Corporation
  • Vineeth Precious Metal Catalysts Pvt. Ltd.

KEY QUESTIONS ANSWERED

1. What is the revenue forecast for the global precious metal catalysts market?
2. What is the growth rate of the precious metal catalysts market?
3. Who are the key players in the global precious metal catalysts market?
4. Which region dominates the global precious metal catalysts market?
5. What are the key driving factors in the precious metal catalysts market?
Frequently Asked Questions about the Precious Metal Catalysts Market

What is the estimated value of the Precious Metal Catalysts Market?

The Precious Metal Catalysts Market was estimated to be valued at $13490.13 Million in 2021.

What is the growth rate of the Precious Metal Catalysts Market?

The growth rate of the Precious Metal Catalysts Market is 6.5%, with an estimated value of $19760.47 Million by 2027.

What is the forecasted size of the Precious Metal Catalysts Market?

The Precious Metal Catalysts Market is estimated to be worth $19760.47 Million by 2027.

Who are the key companies in the Precious Metal Catalysts Market?

Key companies in the Precious Metal Catalysts Market include BASF SE, Evonik, Johnson Matthey, Heraeus Holding, Umicore, Alfa Chemistry, American Elements, Arora Matthey Limited, Clariant International Ltd. and Chimet S.p.A..

Table of Contents

1 Research Methodology2 Research Objectives3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.3.1 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Premium Insights
6.1 Market Synopsis
6.1.1 Drivers
6.1.2 Opportunities
6.1.3 Challenges
6.2 Segment Review
6.2.1 End-Use
6.2.2 Type
6.3 Geography
6.4 Company and Strategies
7 Market at a Glance
8 Introduction
8.1 Overview
9 Market Opportunities & Trends
9.1 Increasing Demand from Automotive Industry
9.2 Increasing Demand from Pharmaceutical Industry
9.3 Adoption of Sustainability Standards
10 Market Growth Enablers
10.1 Rise in Demand for Fuels Used in Transportation
10.2 Increasing Investments in Refinery Sector
10.3 Increasing Environmental Concern
11 Market Restraints
11.1 Price Volatility of Precious Metal Catalysts
11.2 Rising Demand for Ev Batteries
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.2.1 Value
12.2.2 Volume
12.3 Five Forces Analysis
12.3.1 Threat of New Entrants
12.3.2 Bargaining Power of Suppliers
12.3.3 Bargaining Power of Buyers
12.3.4 Threat of Substitutes
12.3.5 Competitive Rivalry
13 Type
13.1 Market Overview
13.2 Market Snapshot & Growth Engine
13.2.1 Value
13.2.2 Volume
13.3 Platinum
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Market by Geography
13.4 Palladium
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Market by Geography
13.5 Rhodium
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.5.3 Market by Geography
13.6 Ruthenium
13.6.1 Market Overview
13.6.2 Market Size & Forecast
13.6.3 Market by Geography
13.7 Other
13.7.1 Market Overview
13.7.2 Market Size & Forecast
13.7.3 Market by Geography
14 End-Use
14.1 Market Overview
14.2 Market Snapshot & Growth Engine
14.2.1 Value
14.2.2 Volume
14.3 Pharmaceutical
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.3.3 Market by Geography
14.4 Oil & Gas
14.4.1 Market Overview
14.4.2 Market Size & Forecast
14.4.3 Market by Geography
14.5 Automotive
14.5.1 Market Overview
14.5.2 Market Size & Forecast
14.5.3 Market by Geography
14.6 Other End-Uses
14.6.1 Market Overview
14.6.2 Market Size & Forecast
14.6.3 Market by Geography
15 Geography
15.1 Market Snapshot & Growth Engine
15.1.1 Value
15.1.2 Volume
15.2 Geographic Overview
16 North America
16.1 Market Overview
16.2 Market Size & Forecast
16.2.1 Value
16.3 Type
16.3.1 Market Size & Forecast
16.4 End-Use
16.4.1 Market Size & Forecast
16.5 Key Countries
16.6 US
16.6.1 Market Size & Forecast
16.7 Canada
16.7.1 Market Size & Forecast
17 Europe
17.1 Market Overview
17.2 Market Size & Forecast
17.2.1 Value
17.3 Type
17.3.1 Market Size & Forecast
17.4 End-Use
17.4.1 Market Size & Forecast
17.5 Key Countries
17.6 Germany
17.6.1 Market Size & Forecast
17.7 France
17.7.1 Market Size & Forecast
17.8 Italy
17.8.1 Market Size & Forecast
17.9 Spain
17.9.1 Market Size & Forecast
17.10 UK
17.10.1 Market Size & Forecast
17.11 Rest of Europe
17.11.1 Market Size & Forecast
18 Apac
18.1 Market Overview
18.2 Market Size & Forecast
18.2.1 Value
18.3 Type
18.3.1 Market Size & Forecast
18.4 End-Use
18.4.1 Market Size & Forecast
18.5 Key Countries
18.6 China
18.6.1 Market Size & Forecast
18.7 Japan
18.7.1 Market Size & Forecast
18.8 India
18.8.1 Market Size & Forecast
18.9 South Korea
18.9.1 Market Size & Forecast
18.10 Rest of Apac
18.10.1 Market Size & Forecast
19 Latin America
19.1 Market Overview
19.2 Market Size & Forecast
19.2.1 Value
19.3 Type
19.3.1 Market Size & Forecast
19.4 End-Use
19.4.1 Market Size & Forecast
19.5 Key Countries
19.6 Brazil
19.6.1 Market Size & Forecast
19.7 Mexico
19.7.1 Market Size & Forecast
19.8 Rest of Latin America
19.8.1 Market Size & Forecast
20 Middle East & Africa
20.1 Market Overview
20.2 Market Size & Forecast
20.2.1 Value
20.3 Type
20.3.1 Market Size & Forecast
20.4 End-Use
20.4.1 Market Size & Forecast
20.5 Key Countries
20.6 Saudi Arabia
20.6.1 Market Size & Forecast
20.7 South Africa
20.7.1 Market Size & Forecast
20.8 Rest of Middle East & Africa
20.8.1 Market Size & Forecast
21 Competitive Landscape
21.1 Competition Overview
21.2 Recent Developments
22 Key Company Profiles
22.1 Basf Se
22.1.1 Business Overview
22.1.2 Financial Overview
22.1.3 Product Offerings
22.1.4 Key Strategies
22.1.5 Key Strengths
22.1.6 Key Opportunities
22.2 Evonik Industries AG
22.2.1 Business Overview
22.2.2 Financial Overview
22.2.3 Product Offerings
22.2.4 Key Strategies
22.2.5 Key Strengths
22.2.6 Key Opportunities
22.3 Johnson Matthey
22.3.1 Business Overview
22.3.2 Financial Overview
22.3.3 Product Offerings
22.3.4 Key Strategies
22.3.5 Key Strengths
22.3.6 Key Opportunities
22.4 Heraeus Holding
22.4.1 Business Overview
22.4.2 Financial Overview
22.4.3 Product Offerings
22.4.4 Key Strategies
22.4.5 Key Strengths
22.4.6 Key Opportunities
22.5 Umicore Galvanotechnik
22.5.1 Business Overview
22.5.2 Financial Overview
22.5.3 Product Offerings
22.5.4 Key Strategies
22.5.5 Key Strengths
22.5.6 Key Opportunities
23 Other Prominent Vendors
23.1 Alfa Chemistry
23.1.1 Company Overview
23.1.2 Business Overview
23.1.3 Product Offerings
23.2 American Elements
23.2.1 Company Overview
23.2.2 Business Overview
23.2.3 Product Offerings
23.3 Arora Matthey Limited
23.3.1 Company Overview
23.3.2 Product Offerings
23.4 Clariant International Ltd.
23.4.1 Company Overview
23.4.2 Business Overview
23.4.3 Product Offerings
23.5 Chimet
23.5.1 Company Overview
23.5.2 Business Overview
23.5.3 Product Offerings
23.6 Dongguan City Betterly New Materials Co. Ltd.
23.6.1 Company Overview
23.6.2 Product Offerings
23.7 Halder Topsoes A/S
23.7.1 Company Overview
23.7.2 Business Overview
23.7.3 Product Offerings
23.8 J&J Materials Inc.
23.8.1 Company Overview
23.8.2 Product Offerings
23.9 Kaili Catalysts New Materials Co. Ltd
23.9.1 Company Overview
23.9.2 Business Overview
23.9.3 Product Offerings
23.10 N.E. Chimet Corporation
23.10.1 Company Overview
23.10.2 Product Offerings
23.11 Synthesis With Catalysts Pvt. Ltd. (Swc)
23.11.1 Company Overview
23.11.2 Product Offerings
23.12 Sabin Metal Corporation
23.12.1 Company Overview
23.12.2 Business Overview
23.12.3 Product Offerings
23.13 Souvenier Chemicals
23.13.1 Company Overview
23.13.2 Business Overview
23.13.3 Product Offerings
23.14 Stanford Advanced Materials
23.14.1 Company Overview
23.14.2 Product Offerings
23.15 Takasago International Corporation
23.15.1 Company Overview
23.15.2 Business Overview
23.15.3 Product Offerings
23.16 Vineeth Precious Metal Catalyst Pvt. Ltd.
23.16.1 Company Overview
23.16.2 Business Overview
23.16.3 Product Offerings
24 Report Summary
24.1 Key Takeaways
24.2 Strategic Recommendations
25 Quantitative Summary
25.1 Type
25.1.1 Platinum
25.1.2 Palladium
25.1.3 Rhodium
25.1.4 Ruthenium
25.1.5 Others
25.2 End-Use
25.2.1 Pharmaceutical
25.2.2 Oil & Gas
25.2.3 Automotive
25.2.4 Other
26 Geography
26.1 North America
26.1.1 Type
26.1.2 End-Use
26.2 Europe
26.2.1 Type
26.2.2 End-Use
26.3 Apac
26.3.1 Type
26.3.2 End-Use
26.4 Latin America
26.4.1 Type
26.4.2 End-Use
26.5 Middle East & Africa
26.5.1 Type
26.5.2 End Use
27 Appendix
27.1 Abbreviations

Companies Mentioned

  • BASF SE
  • Evonik
  • Johnson Matthey
  • Heraeus Holding
  • Umicore
  • Alfa Chemistry
  • American Elements
  • Arora Matthey Limited
  • Clariant International Ltd.
  • Chimet S.p.A.
  • Dongguan City Betterly New Materials Co., Ltd.
  • Halder Topsoe A/S
  • J&J Materials Inc.
  • Kaili Catalyst New Materials CO., LTD
  • N.E. Chemcat Corporation
  • Synthesis with Catalysts Pvt. Ltd. (SWC)
  • Sabin Metal Corporation
  • Souvenier Chemicals
  • Stanford Advanced Materials
  • Takasago International Corporation
  • Vineeth Precious Metal Catalysts Pvt. Ltd.

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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