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 2031

  • Report ID: 3872
  • Published Date: Feb 06, 2023
  • Report Format: PDF, PPT

Global Hydrogenation Catalyst Market Highlights Over 2022 - 2031

The global hydrogenation catalyst market is estimated to garner a substantial revenue by growing at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. 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

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. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals (% of Value Added in Manufacturing)

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Hydrogenation Catalyst Market 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 is estimated to witness noteworthy growth over the forecast period on the back of the 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.

Hydrogentaion Catalyst Market Share

The global hydrogenation catalyst market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global hydrogenation catalyst 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

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

Top Featured Companies Dominating the Market

  • 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

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:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 3872
  • Published Date: Feb 06, 2023
  • Report Format: PDF, PPT

Key Questions Answered in the Report

1) What are the major factors driving the growth of the hydrogenation catalyst market?

Ans: The major factors driving market growth are rising demand for heterogenous catalysts from industrial and chemical application areas, and growing use of hydrogenation for manufacturing medicines and aroma chemicals.

2) What would be the CAGR of hydrogenation catalyst market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022-2031.

4) Which region will provide more business opportunities for growth of hydrogenation catalyst market in future?

Ans: Asia Pacific will provide more business opportunities for market growth owing to the increasing investments in oil & gas exploration activities, where hydrogenation catalysts are used for petroleum refining.

5) Who are the major players dominating the hydrogenation catalyst market?

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

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the hydrogenation catalyst market?

Ans: The market is segmented by product type, form, end user, and by region.

8) Which segment captures the largest market size in the form segment in the hydrogenation catalyst market?

Ans: The heterogenous segment is anticipated to hold largest market size and is estimated grow at a modest CAGR over the forecast period and display significant growth opportunities.

8) What are the challenges affecting the market growth?

Ans: Toxicity of hydrogenation catalysts is estimated to hamper the market growth.

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