Hydrogenation Catalyst Market Analysis by Product Type (Precious Metal-Based Hydrogenation Catalyst, Common Metal Based Hydrogenation Catalyst, and Alloys & Others); by Form (Heterogeneous, and Homogenous); and by End Use Industry (Chemical, Oil & Gas, Food, Pharmaceutical, Polymer, and Environmental)-Global Supply & Demand Analysis & Opportunity Outlook 2021-2031

 Global Hydrogenation Catalyst Market Size, Forecast, and Trend Highlights Over 2021 - 2031

The global hydrogenation catalyst market is estimated to garner a revenue of USD 34,182.8 Million by the end of 2031 by growing at a CAGR of 4.6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 21,872.5 Million in the year 2021. Hydrogenation catalyst is highly used in petrochemical refining. Growing petrochemical industry is to elevate the growth of hydrogenation catalyst market. The petrochemical sector uses approximately 10% of total worldwide energy demand, making it the largest sector of the industrial energy user.

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Rising merger and acquisition among key players to advance the technology of catalyst is expected to augment the hydrogenation catalyst market. For instance, in September 2021, HydRegen, an UK based company has announced to leverage DrySyn OCTO reaction station from Asynt to invent a next generation biocatalyst system, that’s aims at making chemical manufacturing safer, cleaner and more adroit. Furthermore, the rising need to limit greenhouse gases emission and higher demand of hydrogenation catalyst in pharma products is to boost the market growth.

Global Hydrogenation Catalyst Market: Growth Drivers and Challenges

Growth Drivers

• Higher Requirement of Hydrogenation Catalyst in Chemical Industry

Heterogeneous catalyst is an essential element of chemical industry as it is responsible for producing over 80% of chemical products in the world. It is extensively used in the production of fragrances, flavors, chemicals and others.

• Alarming Need to Reduce Green House Gases Emission

Hydrogenation catalyst is easily recyclable. It enables to carry out manufacturing of various chemical, health, cosmetic products in green and sustainable way. It prevents secondary pollution and generation of harmful gases such as greenhouse gases. According to World Economic Forum, in United States, manufacturing industry accounts for 23% of direct carbon emission.

• Increased Demand for Hydrogenation Catalyst from Pharmaceutical Industry

Hydrogenation catalyst demand is driven by its use in the production of vitamins, dietary supplements, cosmetics, medicines and others. Therefore, rising demand of these products is to influence the market growth. In the time frame of 2017-2018, among the United States’ adults aged 20 or above, nearly 58% used dietary supplements.

• Use of Nano Catalyst in Textile Industry

Coloring dyes from textile industry are directly discharged in water. The effluents of dye pollute water and affect marine organisms, therefore, Nano catalyst is highly textile industry to form a dye which is easily decomposable and curbs water pollution. According to IOP Science, each year approximately 60,000 tons of dyes is released into environment as a waste

• New Development in Research of Hydrogenation Catalyst

Rising development in research area is to broaden the opportunity area for hydrogenation catalyst market. For instance, in December 2021, Clariant announced to enhance the R&D unit. It made significant investment to advance research unit in Japan, to promote faster and more efficient catalyst experiments.

Challenges

• Detrimental effects of hydrogenation catalyst on Human Health

• Rules and Regulations Imposed by Environmental Regulatory Authorities

• End User Industries Facing Financial Crisis Poses Obstacles on Hydrogenation Catalyst Market

The hydrogenation catalyst market is segmented and analyzed for demand and supply by end use industry into chemical, oil & gas, food, pharmaceutical, polymer, and environmental. Amongst these, the oil & gas segment is anticipated to hold the largest market size by the end of 2031. The segment is further projected to grow at the highest CAGR of 5.3% over the forecast period. The segment also garnered the revenue of USD 9217.1 million in 2021. This growth is expected on the account of higher demand of petrochemicals, as hydrogenation catalyst is highly used for refining of unsaturated hydrocarbon from petrochemicals. Out of global demand of all the oils, Petroleum demands consist of approximately 12%. Furthermore, petrochemical is forecasted to consume 56 billion cubic meters of natural gas by 2030.

Global Hydrogenation Catalyst Market Regional Synopsis

Regionally, the global hydrogenation catalyst market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2031. The market in the Asia Pacific is to grow at the highest CAGR of 5.3% over the forecast period. It is expected to accumulate a revenue of USD 12,781.9 million by the end of 2031. Higher demand for catalyst in China is to propel the market growth in the region. For instance, in the first half of 2020, Clariant’s sales of catalyst has increased by nearly 3% in China, valuing at approximately 1.4 million yuan. Further, the rising demand for petroleum refining in Japan is expected to augment the market growth. In 2020, Japan’s domestic demand for catalyst for the refinement of petroleum was nearly 398 tons.

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Market Segmentation

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

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Key Companies Dominating the Global Hydrogenation Catalyst Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global hydrogenation catalyst market that are included in our report are Clariant AG, Johnson Matthey, Exxon Mobil Corporation, Sinopec Int’l, Albemarle Corporation, Topsoe, Honeywell International Inc., Reaxa Limited, W. R. Grace and Co.-Conn., Solvias AG, Evonik Industries AG, BASF SE, and others.

Global Hydrogenation Catalyst Market: Latest Developments

• September, 2021: BASF introduces a next generation range of its selective hydrogenation catalysts. These new cost effective E 15x light catalysts complete BASF’s selective hydrogenation portfolio with the well-established E 15x series by enhancing their efficiency and throughput rates.

• April, 2021: Axens Selene launches a new portfolio of catalyst especially dedicated towards selective hydrogenation to meet customer needs. This new product range aims to deliver optimal performance and improving the active phase impregnation.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal. 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• 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 Analys  & 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

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