Catalysts for Energy Market Outlook:
Catalysts For Energy Market size were USD 26.2 billion in 2024 and are estimated to reach USD 50.3 billion by the end of 2037, registering a CAGR of 5.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of catalysts for energy is evaluated at USD 27.4 billion.
The main factor driving growth in the Catalysts for Energy market is the increase in global refining capacity alongside stricter emissions regulations. According to data from the U.S. Bureau of Labor Statistics, the Producer Price Index (PPI) for refined petroleum products, which significantly depend on hydrotreating and FCC catalysts, experienced a rise of approximately 27% year-over-year, with jet fuel prices increasing by 36% in industrial applications. On the consumer front, the index for finished consumer energy goods reached 215.47 by August 2024. These inflationary trends, supported by regulatory demands for cleaner fuels, continually enhance the utilization of catalysts in refining processes across the globe. Additionally, government initiatives such as Euro 7, Bharat VI, and EPA Tier 3 further solidify this demand.
Critical raw materials such as platinum group metals and rare earth elements extracted 75–90% from geopolitically sensitive areas such as South Africa, Russia, China contribute to the volatility of the raw material supply chain. In 2022, the prices of nickel and cerium oxide experienced significant increases of 260% and 24% respectively, primarily due to export restrictions. The energy-intensive production processes, including high-temperature calcination, have resulted in considerable growth in catalyst manufacturing facilities in the EU and U.S. However, logistical delays continue to create lead-time disruptions of 10–15 weeks. Research and development investments, driven by regulatory requirements, focus on finding alternatives to scarce PGMs and enhancing catalyst efficiency demonstrated by multi-million-dollar federal grants allocated for electrochemical catalyst technologies in recent government budgets. For instance, DOE funding lines exceed $110 million annually for the development of green hydrogen catalysts.
