The Super Catalyst Market is estimated to be valued at US$ 25.47 Billion in 2031

A newly published report by Coherent Market Insights reveals a sustainable growth opportunity in the super catalyst market. Coherent Market Insights’ analyst projected the super catalyst market to be valued at US$ 25.47 Bn in 2031. It is expected to exhibit a CAGR of 11.7% over the forecast period 2024-2031.

Growing demand from the petrochemical industry drives market growth. Super catalysts are extensively used in petroleum refineries for the production of gasoline and other refined petroleum products from crude oil. Also, the increasing oil & gas exploration and production activities around the world require high-performance catalysts.

Furthermore, stringent government regulations regarding vehicular emissions have increased the demand for ultra-low sulfur diesel and gasoline. This has significantly boosted the consumption of super catalysts in developed regions.

Key market trends include: Growing demand for green chemicals represents a key trend in the super catalyst market. Super catalysts play a vital role in synthesizing green chemicals from renewable feedstocks. They facilitate cost-effective production of biofuels, bioplastics, and other biomass-based chemicals. ThisGrowing adoption of hydrogen economy is another major trend. With rising focus on clean energy and fuel cells, there is increasing production of hydrogen gas through steam reforming of methane.

Mixed Metal Oxides: Mixed metal oxides exhibit excellent thermal stability, redox properties, and acid-base characteristics, making them suitable for various industrial chemical reactions. Growing demand from end-use industries such as chemical and pharmaceutical is expected to drive the demand for metal oxides and mixed oxides raw materials segment during the forecast period.

Super Catalyst Market Opportunities The nano-catalysts segment accounted for the largest market share in 2020 and is expected to maintain its dominance over the forecast period. Nanoparticles have a large surface area to volume ratio, which facilitates higher catalytic activity. Nano-enabled catalysts can operate at room temperature and normal pressure conditions as compared to conventional catalysts. They also provide improved atom economy and chemoselectivity.

Rapid advancements in nanotechnology coupled with growing research focus on developing novel nanocatalysts for various applications are fueling the growth of this segment.

Key Market Takeaways: Super Catalyst Market is anticipated to witness a CAGR of 11.7% during the forecast period 2024-2031. This is owing to rapid industrialization and stringent emission regulations mandating the use of catalysts globally.

On the basis of raw material, metal oxides and mixed oxides segment is expected to hold a dominant position, accounting for over 30% market share in 2031. This is due to their thermal stability and versatility in various industrial processes.

On the basis of type, nano-catalysts segment is expected to hold a dominant position over the forecast period. This is due to their high surface area and catalytic activity.

On the basis of region, North America is expected to hold a dominant position over the forecast period. This is owing to presence of major catalyst manufacturers and stringent environmental norms in the region.

Competitor Insights: Key players operating in the super catalyst market include BASF SE, Johnson Matthey PLC, Clariant AG, Honeywell International Inc., W.R. Grace & Co., Evonik Industries AG, Haldor Topsoe A/S, SABIC, LyondellBasell Industries N.V., Albemarle Corporation, 3M Company, UOP LLC (Honeywell), Axens S.A., Katalco LLC, and Mitsubishi Heavy Industries, Ltd.

Recent Developments: In January 2023, Ketjen, a specialist brand aimed at providing customized advanced catalyst solutions, was launched by Albemarle Corporation, a prominent worldwide manufacturer of specialty chemicals. Ketjen uses Albemarle’s vast knowledge of catalyst technology to maximize performance and efficiency in a variety of industries, such as petrochemical, specialty chemical, and refining. More information in full report