Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Precious Metal Catalysts Market size was USD 61.11 billion in 2024 and is estimated to reach USD 218.57 billion by the end of 2037, expanding at a CAGR of 10.3% during the forecast period, i.e., 2025-2037. In 2025, the industry size of precious metal catalysts is evaluated at USD 67.40 billion.
The global precious metal catalysts market is anticipated to expand due to the government-implemented emission regulations to control pollution levels. For instance, even at lower quantities than previously thought, the harm that air pollution causes to human health is amply demonstrated by the new WHO Global Air Quality Guidelines (AQGs). By lowering levels of important air pollutants, some of which also contribute to climate change, the guidelines recommend new air quality standards to safeguard public health.
By using an internal combustion process that catalyzes chemical reactions, catalytic converters reduce emissions from harmful byproducts of automobile engines. Regulators have placed stringent restrictions on these products' performance attributes in order to guarantee that pollution limits are fulfilled, which is anticipated to increase demand for precious metal catalysts. Therefore, it is anticipated that throughout the projected period, stringent government restrictions will propel the growth of the precious metal catalysts market.
Catalytic converters have key technological implications beyond simply reducing emissions since they serve as a vital link between industrial, automotive, and environmental stewardship. To address worldwide issues regarding health, these air pollution gadgets, which are required in numerous settings to reduce air pollution, are crucial in mitigating the environmental effects of industrialization and vehicle emissions. As they operate as catalysts for cleaner and more effective chemical transformations, catalytic converters are a shining example of sustainable practices and emphasize the importance of integrating environmental concerns into technical breakthroughs.
Precious Metal Catalysts Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing use of nanoparticle catalysts: Because noble materials perform better and faster during chemical processing, as well as to help offset their expensive cost, the use of nanoparticle catalysts manufactured from these materials has grown. Hydrogen and oxygen are easily absorbed into the environment by the nanoscale metal particles present in precious metal catalysts. Under typical circumstances, absorbed oxygen and hydrogen react easily with a wide range of replacements. Therefore, it is possible to achieve a relatively high product yield by minimizing the development of byproducts and preserving moderate reaction conditions. The creation of precious metal catalysts has advanced as a result of recent developments in nanotechnology. Consequently, production costs have dropped, productivity has grown, and energy has been conserved.
- Growing research & development activities: The precious metal catalysts market is expected to grow as a result of an increase in research and development activities. To boost the precious metal industry, manufacturers are attempting to concentrate more on investments. Reducing costs and maximizing returns are the primary goals of this investment. The need for innovative technology from a variety of industries, including construction and automotive, is another driver for research methods. Globally, there is a chance to boost the use of precious metal catalysts because of all these variables.
Challenges
- Fluctuating prices: However, during the forecast period, the growth of precious metal catalysts will be hindered by their temperature-dependent performance and loss of activity due to poising, thermal deactivation, and coming out of nanoparticle catalysts. Meanwhile, market challenges will come from the volatility of precious metal prices and the growing demand for electric vehicles.
- Lack of awareness: Because they lessen rutting, cracking, and stripping, asphalt additives can greatly extend the service life of asphalt pavements. As a result, asphalt road surfaces require less upkeep. However, because they are focused on lowering the cost of materials and construction, contractors and road builders in emerging nations do not take these considerations into account. Many road builders and contractors may not be aware of the various types of asphalt additives that are available, their benefits, and the proper way to include them in asphalt mixtures. This ignorance could lead to the inappropriate application or underuse of asphalt additives, which would impair the pavement's performance.
Precious Metal Catalysts Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
10.3% |
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Base Year Market Size (2024) |
USD 61.11 billion |
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Forecast Year Market Size (2037) |
USD 218.57 billion |
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Regional Scope |
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Precious Metal Catalysts Segmentation
State (Solid, Granules, Powder)
Solid-state segment is estimated to account for precious metal catalysts market share of around 80.3% by 2037. Their stability, effectiveness, and ease of recycling make them the most often utilized. Solid-state precious metal catalysts are becoming popular as a result of their hardness and huge surface area, which are crucial for catalytic processes. Additionally, they speed up chemical reactions without changing their original shape. As a result, they can be used more widely, which boosts the demand for precious metal catalysts.
Grade (Industrial, Technical, Reagent)
The industrial segment is anticipated to garner a significant precious metal catalysts market share during the assessed period. The market is growing as a result of more catalytic activity and fewer environmental concerns. The market demand for industrial-grade precious metal catalysts is directly driven by their application in a variety of industries, such as chemical, automotive, electronics, petroleum etc., which in turn fuels the industry's expansion. The segment's rapid rise can be attributed to the demand for superior catalysts and more environmentally friendly production processes. Furthermore, the introduction of cutting-edge technology to lower costs has boosted the market for precious metal catalysts.
Our in-depth analysis of the global precious metal catalysts market includes the following segments:
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Component |
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State |
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Grade |
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Application |
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Customize this ReportPrecious Metal Catalysts Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific in precious metal catalysts market is set to hold over 39.5% revenue share by the end of 2037. Growing industrialization techniques are the reason for the region's expansion. Increasing investments in technology and infrastructure also contribute to the market's expansion. Precious metal catalysts serve a wide range of industries, including electronics, medicines, and the automotive sector, and they also encourage more effective and clean operations. The major players are nations like China, South Korea, and Japan, which are attempting to concentrate more on investing in and developing precious metal catalysts for a range of industrial sectors.
Additionally, they support the expansion of R&D and industrial activity. All things considered, technological developments, expanding consumer options, and industry collaborations are driving the worldwide Asia-Pacific precious metal catalysts market's high demand. Thus, the market for precious metal catalysts is driven.
North American Market Analysis
North America precious metal catalysts market is expected to grow at a significant rate during the projected period. The advanced industrial facilities and increased emphasis on research and development are responsible for the region's growth. Innovations about catalyst development are primarily the responsibility of the U.S. region. As a result, effective and sustainable catalysts with fewer hazardous qualities are introduced. Additionally, the region's automobile industry supports the market expansion for precious metal catalysts.
Companies Dominating the Precious Metal Catalysts Landscape
- American Elements
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent developments
- Regional Presence
- SWOT Analysis
- Sabin Metal Corporation
- Chimet S.p.A.
- BASF SE
- Evonik Industries AG
- Clariant
- Nornickel
- Heraues Precious Metals GmbH & Co. KG
- Alfa Aesar
- Johnson Matthey plc
The precious metal catalysts market is defined by the existence of well-established competitors who compete based on technological breakthroughs, product quality, and innovation. Key market players frequently use strategic moves like mergers, acquisitions, and expansions to increase their market presence and effectively fulfill the growing demand.
In the News
- In July 2023, Nornickel and partners developed a new palladium-based catalytic layer composition for electrode applications. Palladium has unique features, including catalytic activity, which accelerates the electrochemical reaction. Researchers believe that synergistic effects of catalytic characteristics with additional platinum group metals could increase the service life of palladium-based catalytic coatings.
- In March 2022, Heraeus Precious Metals collaborated with Johannes Kepler University Linz to create an industrial precious metal catalyst for effective lignin conversion. The catalyst is well-suited for the industrial-scale conversion of the natural substance lignin to phenolic components and has previously been patent-pending.
Author Credits: Rajrani Baghel
- Report ID: 7514
- Published Date: Apr 16, 2025
- Report Format: PDF, PPT
