Market Trends of Aluminum Nickel Catalysts Industry
Soaring Demand From Hydrogenation Applications
- Aluminum nickel catalyst (Raney nickel catalyst) is mostly composed of nickel derived from nickel and aluminum alloy in the presence of concentrated sodium hydroxide (NaOH).
- Raney nickel is a heterogeneous hydrogenation catalyst. It promotes the reaction of hydrogen with organic compounds (compounds that contain carbon) and, like all catalysts, is not consumed in the process.
- In the petroleum industry, hydrogenation is used in a process called hydrocracking. It breaks heavy crude’s long hydrogen carbon chains into lighter petroleum products, such as diesel, gasoline, and jet fuel.
- Additionally, aluminum nickel catalysts are also used in a wide range of other hydrogenation applications, including nitro compounds, amines, carbonyls, nitriles, alcohols,amines, olefins, acetylenes, and saturates. Also, they are widely used in reductive amination, reductive alkylation, , and ammonolysis of alcohol.
- The final use of these hydrogenation reactions is mostly found in food processing, petrochemical, and petroleum industries.
- As per the Organization of the Petroleum Exporting Countries Report 2022, the global demand for crude oil (including biofuels) in 2022 amounted to 99.57 million barrels per day. It is an increase of 2.5% from the previous year, and it is forecasted to increase to 101.89 million barrels per day in 2023, driving the aluminum nickel catalyst market as it is used in hydrogenation reactions.
- The production volume of petroleum products across India amounted to over 254.3 million metric tons at the end of fiscal year 2022. It was an increase from some 233.5 million metric tons reported in the previous fiscal year, with a direct impact on the aluminum nickel catalyst market as it is used in hydrogenation reactions as the catalyst in the petroleum industry.
- Emirates Global Aluminum is the largest aluminum producer in the Middle East and contributes nearly 4% of all global aluminum. The UAE was the source of 9% of US aluminum imports in 2022.
- In 2022, as per the US Geological Survey, China, followed by India, Russia, Canada, and UAE, accounts for most of the global aluminum products. It is expected to drive the aluminum nickel catalyst market.
- Such industrial applications of hydrogenation are expected to drive the market for aluminum nickel catalysts during the forecast period.
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Asia-Pacific to Dominate the Market
- Asia-Pacific region dominated the market with a share of almost 30% with China and India being the major consumers of the market.
- For instance, most of the caprolactam is synthesized from cyclohexanone, which utilizes catalysts like Aluminum-Nickel. Caprolactam production in China is on the rise due to increased demand from Nylon-6 production.
- Aluminum-nickel catalysts are used in the production of sorbitol. China is the major producer of sorbitol in the world and accounts for around 40-45% of the global production capacity.
- As per the US Geological Survey, China is the world’s leading producer and is responsible for more than half of global aluminum output in 2022 at 40 million MT. The country also consumed a considerable amount of the metal. China experienced consistent growth in primary annual aluminum production over the past decade. China's aluminum production increased to a record high in 2022.
- India is another aluminum-producing country whose output grew consistently in recent years. In 2022, India increased its aluminum production again, although marginally, to 4 million MT, boosting the aluminum nickel catalyst market.
- NSE: VEDL (Vedanta), India’s largest aluminum-producing company, believes the country will see its aluminum output reach 5 million MT by 2026 or 2027. It will come with a positive impact on the aluminum nickel catalyst market.
- All these factors are expected to increase the demand for the Aluminum-Nickel catalysts market during the forecast period.
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