Aluminum Nickel Catalysts Market Size (2024 - 2029)

Aluminum Nickel Catalysts Market Analysis

The Aluminum Nickel Catalysts Market size is estimated at USD 417.94 million in 2024, and is expected to reach USD 513.65 million by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).

The COVID-19 pandemic resulted in a decline in demand for aluminum nickel catalysts, as many industries that use these catalysts, such as refinery and petrochemical industries, were forced to reduce or suspend operations. However, post-COVID, the market is recovering and is expected to grow in the forecast period.

• The major factor driving the growth of the market studied is the augmenting demand for hydrogenation reactions, as it is used to produce a wide range of products, including chemicals, pharmaceuticals, and food ingredients.
• On the flip side, there are a number of alternative catalysts that can be used for the same applications as aluminum nickel catalysts. For instance, cobalt catalysts and palladium catalysts are both effective for hydrogenation reactions.
• Booming natural gas production to provide future opportunities for hydrodesulfurization is likely to provide a major growth opportunity for the market studied during the forecast period.
• Asia-Pacific is dominating the market as there is rapid growth in the chemical industry driven by factors such as increasing urbanization, rising disposable incomes, and growing demand for consumer goods.

Aluminum Nickel Catalysts Industry Segmentation

The aluminum nickel catalyst market is mainly utilized in the hydrogenation of various functional groups, including nitro, azide, carbon-carbon double bond, nitrile, and oxime groups. This catalyst is also applied in hydrogenation reactions involving very high pressure and temperature.

The aluminum nickel catalyst market report is segmented by type, industry vertical, application, and geography. By type, the market is segmented into activated and non-activated. By industry vertical, the market is segmented into the refinery industry, chemical industry, and others (polymer, renewables, and pharmaceuticals). By application, the market is segmented into hydrogenation, desulfurization, dehydrogenation, and others (refinery and chemical). The report also covers the market size and forecasts for the aluminum nickel catalyst market in 15 countries across major regions. For each segment, the market sizing and forecasts are done on the basis of value (USD).