Hydrogenation Catalyst Market
Hydrogenation Catalyst Market Forecasts to 2030 - Global Analysis By Product Type (Precious Metal-Based Hydrogenation Catalyst, Common Metal-Based Hydrogenation Catalyst, Alloy Based and Other Product Types), Type (Transition Metal Based Catalysts, Noble Metal Based Catalyst and Other Types), Form (Homogenous Catalyst and Heterogeneous Catalyst), Process Type (Oleochemical, Hydrogenation Process, Industrial Hydrogenation Process and Other Process Types), End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1.49 BN |
|
Projected Year Value (2030) |
US $2.31 BN |
|
CAGR (2023 - 2030) |
6.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Middle East & Africa |
According to Stratistics MRC, the Global Hydrogenation Catalyst Market is accounted for $1.49 billion in 2023 and is expected to reach $2.31 billion by 2030 growing at a CAGR of 6.5% during the forecast period. In the presence of catalysts like nickel, palladium, or platinum, the chemical reaction of hydrogen with another substance, compound, or element is known as hydrogenation. A hydrogenation catalyst is a catalyst used to produce hydrogen. These catalysts are used in industry to remove the benzyloxycarbonyl and benzyl groups as well as hydrogenate the carbon-carbon (C-C) bond.
According to World Economic Forum, in United States, manufacturing industry accounts for 23% of direct carbon emission. Further, increased demand for hydrogenation catalyst from pharmaceutical industry is also estimated to be another important factor to drive the growth of the global hydrogenation catalyst market.
Market Dynamics:
Driver:
Growing interest in hydrogenated products
The market for hydrogenation catalysts is primarily driven by the rising demand for hydrogenated goods across numerous industries. In industries like petrochemicals, food, pharmaceuticals, and chemicals, hydrogenation is a critical procedure that is used to change unsaturated compounds into saturated ones. Moreover, the demand for hydrogenation catalysts is increased by this process, which improves the quality and stability of products.
Restraint:
Environment-related issues
Although hydrogenation techniques can enhance product quality and lower emissions, they are not entirely eco-friendly. Additionally, when hydrogen gas is consumed, it frequently comes from fossil fuels, which can increase greenhouse gas emissions. As environmental concerns increase, the environmental impact of hydrogenation processes may come under more scrutiny, which could lead to stricter regulations or the investigation of more environmentally friendly alternatives.
Opportunity:
Expansion of the pharmaceutical industry
Due to factors like rising healthcare needs and the development of innovative therapies, the pharmaceutical industry is still expanding globally. In order to synthesize pharmaceutical intermediates and active ingredients with high purity and selectivity, hydrogenation catalysts are necessary. Furthermore, manufacturers of catalysts can benefit from this burgeoning market by offering high-quality catalysts that are specifically designed to meet the demanding needs of pharmaceutical production.
Threat:
Disruption in technology
Alternatives to conventional hydrogenation techniques that are more effective or sustainable could cause market disruptions thanks to new technologies and inventive processes. Moreover, manufacturers of catalysts must keep track of developments in non-catalytic hydrogenation, alternative catalyst materials, and/or proprietary technologies that may eventually replace or lessen the need for conventional hydrogenation catalysts.
Covid-19 Impact:
On the market for hydrogenation catalysts, the COVID-19 pandemic had a wide range of effects. While lockdowns and restrictions initially caused supply chains to be disrupted, industrial activity to decline, and projects to be delayed, the market recovered as a result of industries, particularly the pharmaceutical and food processing sectors, prioritizing the production of necessities while attempting to meet a rise in demand for packaged foods and pharmaceuticals. Additionally, the pandemic highlighted the value of catalysts in vaccine development and pharmaceutical research, encouraging investment in catalyst technologies.
The Precious Metal-Based Hydrogenation Catalyst segment is expected to be the largest during the forecast period
It is anticipated that the precious metal-based hydrogen catalyst segment will hold the largest market share. This dominance is mainly attributable to the superior catalytic capabilities of precious metals like platinum, palladium, and rhodium, which allow for highly effective and selective hydrogenation reactions in a variety of sectors, including petrochemicals, pharmaceuticals, and specialty chemicals. However, they are crucial to many industrial processes because of how well they enable crucial transformations like the reduction of unsaturated compounds.
The Environmental segment is expected to have the highest CAGR during the forecast period
In the hydrogenation catalyst market, the environmental segment is growing at the highest CAGR. The growing global emphasis on sustainability and environmental responsibility is what fuels this growth. In environmental applications like the purification of emissions in air pollution control systems and the removal of pollutants from wastewater, hydrogenation catalysts are essential. Moreover, the demand for hydrogenation catalysts in environmental applications is steadily rising, making it one of the fastest-growing market segments due to strict environmental regulations and a growing awareness of the need for cleaner industrial processes.
Region with largest share:
The Asia-Pacific region holds the largest market share for hydrogenation catalysts. The region's strong industrial growth, particularly in nations like China and India, which have sizable chemical, petrochemical, and refining industries, is what's fueling this dominance. Asia-Pacific currently holds the top spot in the global hydrogenation catalyst market thanks to the rising demand for hydrogenation catalysts in these industries as well as the growing emphasis on environmentally friendly manufacturing techniques. Additionally, the region's booming food and pharmaceutical sectors also help to increase demand for these catalysts, further solidifying its position as the market leader.
Region with highest CAGR:
The Middle East and Africa (MEA) is predicted to have the highest CAGR in the market for hydrogenation catalysts. The region has a sizable presence in the oil and gas sector, including the refining of crude oil and the production of petrochemicals which is driving this rapid growth. The demand for hydrogenation catalysts is being driven by significant investments in petrochemical and refining projects in MEA, which are necessary to meet environmental regulations and optimize processes. Additionally, the area's strategic location and easy access to feedstock make it a center for chemical manufacturing, which will help fuel the market for hydrogenation catalysts' anticipated rapid expansion.
Key players in the market
Some of the key players in Hydrogenation Catalyst Market include Haldor Topsoe A/S, SOLVIAS AG, Albemarle Corporation, China National Petroleum Corporation, CRI/Criterion Inc., BASF SE, SINOPEC Catalyst Company, W. R. Grace and Co., Advanced Refining Technologies (ART), Haldor Topsoe, Johnson Matthey, Axens, Honeywell International, Inc., SJEP and Evonik Industries AG.
Key Developments:
In June 2023, QatarEnergy signed on Tuesday with China National Petroleum Corporation (CNPC) a long-term Liquefied Natural Gas sales agreement at its headquarters in Doha. The agreement entails the delivery of 4 million tonnes of LNG per year from QatarEnergy's North Field East LNG expansion project to CNPC's receiving terminals in China, spanning the course of 27 years, according to the Qatari state-owned company and the CNPC.
In May 2023, Albemarle Corporation, a global leader in providing essential elements for mobility, energy, connectivity and health, today announced a definitive agreement with Ford Motor Company to deliver battery-grade lithium hydroxide to support the automaker's ability to scale electric vehicle (EV) production. Albemarle will supply more than 100,000 metric tons of battery-grade lithium hydroxide for approximately 3 million future Ford EV batteries. The five-year supply agreement starts in 2026 and continues through 2030.
In May 2023, BASF Environmental Catalyst and Metal Solutions, a global leader in precious metals and catalysis, and Advent Technologies Holdings, Inc., an innovation-driven leader in the fuel cell and hydrogen technology sectors, have concluded the terms of a new agreement to join efforts in building a full loop component supply chain for fuel cells and enter discussions to extend the partnership into the field of water electrolysis.
Product Types Covered:
• Precious Metal-Based Hydrogenation Catalyst
• Common Metal-Based Hydrogenation Catalyst
• Alloy Based
• Other Product Types
Types Covered:
• Transition Metal Based Catalysts
• Noble Metal Based Catalyst
• Other Types
Forms Covered:
• Homogenous Catalyst
• Heterogeneous Catalyst
Process Types Covered:
• Oleochemical Hydrogenation Process
• Industrial Hydrogenation Process
• Other Process Types
End Users Covered:
• Oil & Gas
• Chemical
• Pharmaceuticals
• Food
• Refining
• Petrochemicals
• Polymer
• Environmental
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Hydrogenation Catalyst Market, By Product Type
5.1 Introduction
5.2 Precious Metal-Based Hydrogenation Catalyst
5.2.1 Platinum
5.2.2 Palladium
5.2.3 Rhodium
5.2.4 Ruthenium
5.3 Common Metal-Based Hydrogenation Catalyst
5.3.1 Nickel
5.3.2 Cobalt
5.3.3 Copper
5.4 Alloy Based
5.5 Other Product Types
6 Global Hydrogenation Catalyst Market, By Type
6.1 Introduction
6.2 Transition Metal Based Catalysts
6.3 Noble Metal Based Catalyst
6.4 Other Types
7 Global Hydrogenation Catalyst Market, By Form
7.1 Introduction
7.2 Homogenous Catalyst
7.3 Heterogeneous Catalyst
8 Global Hydrogenation Catalyst Market, By Process Type
8.1 Introduction
8.2 Oleochemical Hydrogenation Process
8.3 Industrial Hydrogenation Process
8.4 Other Process Types
9 Global Hydrogenation Catalyst Market, By End User
9.1 Introduction
9.2 Oil & Gas
9.3 Chemical
9.4 Pharmaceuticals
9.5 Food
9.6 Refining
9.7 Petrochemicals
9.8 Polymer
9.9 Environmental
9.10 Other End Users
10 Global Hydrogenation Catalyst Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Haldor Topsoe A/S
12.2 SOLVIAS AG
12.3 Albemarle Corporation
12.4 China National Petroleum Corporation
12.5 CRI/Criterion Inc.
12.6 BASF SE
12.7 SINOPEC Catalyst Company
12.8 W. R. Grace and Co.
12.9 Advanced Refining Technologies (ART)
12.10 Haldor Topsoe
12.11 Johnson Matthey
12.12 Axens
12.13 Honeywell International, Inc.
12.14 SJEP
12.15 Evonik Industries AG
List of Tables
1 Global Hydrogenation Catalyst Market Outlook, By Region (2021-2030) ($MN)
2 Global Hydrogenation Catalyst Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Hydrogenation Catalyst Market Outlook, By Precious Metal-Based Hydrogenation Catalyst (2021-2030) ($MN)
4 Global Hydrogenation Catalyst Market Outlook, By Platinum (2021-2030) ($MN)
5 Global Hydrogenation Catalyst Market Outlook, By Palladium (2021-2030) ($MN)
6 Global Hydrogenation Catalyst Market Outlook, By Rhodium (2021-2030) ($MN)
7 Global Hydrogenation Catalyst Market Outlook, By Ruthenium (2021-2030) ($MN)
8 Global Hydrogenation Catalyst Market Outlook, By Common Metal-Based Hydrogenation Catalyst (2021-2030) ($MN)
9 Global Hydrogenation Catalyst Market Outlook, By Nickel (2021-2030) ($MN)
10 Global Hydrogenation Catalyst Market Outlook, By Cobalt (2021-2030) ($MN)
11 Global Hydrogenation Catalyst Market Outlook, By Copper (2021-2030) ($MN)
12 Global Hydrogenation Catalyst Market Outlook, By Alloy Based (2021-2030) ($MN)
13 Global Hydrogenation Catalyst Market Outlook, By Other Product Types (2021-2030) ($MN)
14 Global Hydrogenation Catalyst Market Outlook, By Type (2021-2030) ($MN)
15 Global Hydrogenation Catalyst Market Outlook, By Transition Metal Based Catalysts (2021-2030) ($MN)
16 Global Hydrogenation Catalyst Market Outlook, By Noble Metal Based Catalyst (2021-2030) ($MN)
17 Global Hydrogenation Catalyst Market Outlook, By Other Types (2021-2030) ($MN)
18 Global Hydrogenation Catalyst Market Outlook, By Form (2021-2030) ($MN)
19 Global Hydrogenation Catalyst Market Outlook, By Homogenous Catalyst (2021-2030) ($MN)
20 Global Hydrogenation Catalyst Market Outlook, By Heterogeneous Catalyst (2021-2030) ($MN)
21 Global Hydrogenation Catalyst Market Outlook, By Process Type (2021-2030) ($MN)
22 Global Hydrogenation Catalyst Market Outlook, By Oleochemical Hydrogenation Process (2021-2030) ($MN)
23 Global Hydrogenation Catalyst Market Outlook, By Industrial Hydrogenation Process (2021-2030) ($MN)
24 Global Hydrogenation Catalyst Market Outlook, By Other Process Types (2021-2030) ($MN)
25 Global Hydrogenation Catalyst Market Outlook, By End User (2021-2030) ($MN)
26 Global Hydrogenation Catalyst Market Outlook, By Oil & Gas (2021-2030) ($MN)
27 Global Hydrogenation Catalyst Market Outlook, By Chemical (2021-2030) ($MN)
28 Global Hydrogenation Catalyst Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
29 Global Hydrogenation Catalyst Market Outlook, By Food (2021-2030) ($MN)
30 Global Hydrogenation Catalyst Market Outlook, By Refining (2021-2030) ($MN)
31 Global Hydrogenation Catalyst Market Outlook, By Petrochemicals (2021-2030) ($MN)
32 Global Hydrogenation Catalyst Market Outlook, By Polymer (2021-2030) ($MN)
33 Global Hydrogenation Catalyst Market Outlook, By Environmental (2021-2030) ($MN)
34 Global Hydrogenation Catalyst Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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