Hydrogenation Catalyst Market Size & Share, by Product (Precious, Common, Alloys); Form (Heterogeneous, Homogeneous); End-user (Chemical, Oil & Gas, Food, Pharmaceutical, Polymer) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3872
  • Published Date: Aug 22, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Hydrogenation Catalyst Market size was over USD 3.51 billion in 2023 and is poised to cross USD 5.49 billion by 2036, witnessing more than 3.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of hydrogenation catalyst is estimated at USD 3.61 billion. The growth of the market can be attributed largely to the rising demand for heterogenous catalysts from industrial and chemical application areas, and growing use of hydrogenation for manufacturing medicines and aroma chemicals. Along with these, rapid shift of energy trends towards alternative fuels, such as biodiesel and shale gas, is projected to raise the demand for hydrogenation catalysts in the upcoming years. The global biofuel production in the world reached a value of about 1.8 million barrels of oil equivalent per day in 2019, up from approximately 1.6 million barrels of oil equivalent per day in the year 2018. Furthermore, growing utilization of the product for producing a variety of commercial chemicals, such as agrochemicals, flavors, pharmaceuticals, fine chemicals, and fragrances and dietary supplements, is expected to offer lucrative opportunities to the market in the near future.


Hydrogenation Catalyst Market
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Hydrogenation Catalyst Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand for Heterogenous Catalysts from Industrial and Chemical Application Areas
  • Growing Use of Hydrogenation for Manufacturing Medicines and Aroma Chemicals

Challenges

  • Toxicity of Hydrogenation Catalysts

 

Hydrogenation Catalyst Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

3.5%

Base Year Market Size (2023)

USD 3.51 billion

Forecast Year Market Size (2036)

USD 5.49 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Hydrogenation Catalyst Segmentation

The market is segmented by end user into chemical, oil & gas, food, pharmaceutical, and polymer, out of which, the food segment is anticipated to hold the largest share in the global hydrogenation catalyst market. This can be accounted to the high usage of hydrogenation for making a large variety of manufactured goods, such as spreads and shortenings, from liquid oils. Apart from this, growing utilization of hydrogenation process to increase the chemical stability of food products is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of form, the heterogeneous segment is assessed to acquire the largest share during the forecast period ascribing to the ease of separation provided during catalysis by this type of catalysts

Our in-depth analysis of the global market includes the following segments:

           By Product Type

  • Precious Metal Based Hydrogenation Catalyst
  • Common Metal Based Hydrogenation Catalyst
  • Alloys
  • Others

             By Form

  • Heterogeneous
  • Homogeneous

 

 

           By End User

  • Chemical
  • Oil & Gas
  • Food
  • Pharmaceutical
  • Polymer

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Hydrogenation Catalyst Industry - Regional Synopsis

Regionally, the global hydrogenation catalyst market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific industry is likely to hold largest revenue share by 2036, on account of increasing investments in oil & gas exploration activities, where hydrogenation catalysts are used for petroleum refining. In addition, high manufacturing of chemicals and specialty chemicals is also expected to drive market growth in the region in the coming years. According to the European Chemical Industry Council, AISBL, the total chemical sales in China in 2020 amounted for USD 1,752.38 billion, with the country contributing for 44.6% of global chemical sales in that year. Moreover, the market in North America is projected to grab the largest share during the forecast period primarily in view of the increasing multidimensional R&D activities about exploring the efficacy of platinum group metals when used as hydrogenation catalysts.

Research Nester
Hydrogentaion-Catalyst-Market-Share
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Companies Dominating the Hydrogenation Catalyst Landscape

    • BASF SE
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Evonik Industries AG
    • SOLVIAS AG
    • W. R. Grace and Co.
    • CRI/Criterion Inc.
    • Honeywell International, Inc.
    • Haldor Topsoe A/S
    • Albemarle Corporation
    • SINOPEC Catalyst Company
    • China National Petroleum Corporation

In the News

  • September 2021- BASF announced the launch of its high performance oxo alcohol catalyst Ni 3354 E, that has been qualified to produce IPA through hydrogenation of acetone.

  • February 2020- Evonik launched hydrogenation pilot plant at a site in Dombivili, India for target-oriented, fast and efficient production and testing of catalysts.

Author Credits:  Rajrani Baghel


  • Report ID: 3872
  • Published Date: Aug 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of hydrogenation catalyst is estimated at USD 3.61 billion.

Hydrogenation Catalyst Market size was over USD 3.51 billion in 2023 and is poised to cross USD 5.49 billion by 2036, witnessing more than 3.5% CAGR during the forecast period i.e., between 2024-2036. The market growth is driven by rising demand for heterogenous catalysts from industrial and chemical application areas, and growing use of hydrogenation for manufacturing medicines and aroma chemicals.

Asia Pacific industry is likely to hold largest revenue share by 2036, on account of increasing investments in oil & gas exploration activities, where hydrogenation catalysts are used for petroleum refining.

The major players in the market are BASF SE, Evonik Industries AG, SOLVIAS AG, W. R. Grace and Co., CRI/Criterion Inc., and others.

In the year 2024, the industry size of hydrogenation catalyst is estimated at USD 3.61 billion.
Hydrogenation Catalyst Market Report Scope
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