Precious Metal Catalysts Market Size (2024 - 2029)

The Precious Metal Catalysts Market is projected to experience growth over the forecast period, driven by the increasing demand for high-performance transportation fuel. Despite the challenges posed by the COVID-19 pandemic, which disrupted the supply chain and affected key industries such as automotive and petrochemicals, the market has shown signs of recovery. High production costs present a challenge to market expansion, but the development of new applications for precious metal catalysts offers potential growth opportunities. The Asia-Pacific region leads in market consumption, with significant contributions from countries like China, ASEAN nations, and India.

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Market Size of Precious Metal Catalysts Industry

Precious Metal Catalysts Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 0.75 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Precious Metal Catalysts Market Major Players

*Disclaimer: Major Players sorted in no particular order

Precious Metal Catalysts Market Analysis

The Precious Metal Catalysts Market size is estimated at 444.35 tons in 2024, and is expected to reach 461.26 tons by 2029, growing at a CAGR of 0.75% during the forecast period (2024-2029).

COVID-19 severely impacted the demand and supply chain of the precious metal catalysts market. The automobile and petrochemical industries, the market's major applications, were negatively impacted by the pandemic due to the lockdown regulations on transportation issued by governments, thus affecting the precious metal catalysts market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.

  • In the medium term, one of the major factors driving the market studied is the accelerating demand for high-performance transportation fuel.
  • Conversely, high production costs will likely hinder the studied market's growth.
  • Moreover, developing new and improved applications for precious metal catalysts will likely offer opportunities to the market studied.
  • Asia-Pacific dominated the market, with the largest consumption coming from China, ASEAN countries, and India.

Precious Metal Catalysts Industry Segmentation

Precious metal catalysts, also known as noble metal catalysts, are widely used in the chemical industry because they can speed up the chemical process. Precious metals possess an incompletely filled d-orbital to lend or withdraw electrons from the reagent, depending on the nature of the reaction. They show high activity and selectivity in catalysis. The precious metal catalysts market is segmented by type, application, and geography. The market is segmented by type into platinum, palladium, rhodium, iridium, ruthenium, and other types. The market is segmented by application into automotive, pharmaceutical, petrochemicals, and other applications. The report also covers the market size and forecasts for the precious metal catalysts market in 15 countries across major regions. Each segment's market sizing and forecasts are based on volume (tons).

Type
Platinum
Palladium
Rhodium
Iridium
Ruthenium
Other Types
Application
Automotive
Pharmaceutical
Petrochemicals
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Precious Metal Catalysts Market Size Summary

The precious metal catalysts market is poised for moderate growth over the forecast period, driven by the increasing demand for high-performance transportation fuels and the automotive sector's need to reduce CO2 emissions. The market experienced a setback due to the COVID-19 pandemic, which disrupted supply chains and reduced demand in key sectors like automotive and petrochemicals. However, a recovery was observed in 2021, with the market rebounding as demand picked up. The automotive industry, particularly in Europe, is a significant segment of this market, with stringent emission regulations like Euro 6 and Euro 7 driving the use of platinum catalysts. These catalysts are essential for reducing harmful emissions from gasoline and diesel engines, contributing to improved energy efficiency in industrial processes.

Asia-Pacific is the dominant region in the precious metal catalysts market, with China, ASEAN countries, and India leading in consumption. China's robust automotive industry, coupled with its status as a major hub for chemical processing and pharmaceuticals, significantly contributes to the market's growth. The country's focus on innovation and R&D, as part of its "Made in China 2025" initiative, further bolsters the demand for precious metal catalysts. Despite challenges such as COVID-19 outbreaks and a chip shortage, China's auto market continues to grow, with a notable shift towards electric vehicles. The market is partially consolidated, with key players like Clariant, BASF SE, Evonik Industries AG, Johnson Matthey, and Umicore Galvanotechnik GmbH holding substantial shares.

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Precious Metal Catalysts Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Accelerating Demand for High-Performance Transportation Fuel

      2. 1.1.2 Increasing Investment in Refineries

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 High Production Costs

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Type

      1. 2.1.1 Platinum

      2. 2.1.2 Palladium

      3. 2.1.3 Rhodium

      4. 2.1.4 Iridium

      5. 2.1.5 Ruthenium

      6. 2.1.6 Other Types

    2. 2.2 Application

      1. 2.2.1 Automotive

      2. 2.2.2 Pharmaceutical

      3. 2.2.3 Petrochemicals

      4. 2.2.4 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 ASEAN Countries

        6. 2.3.1.6 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Precious Metal Catalysts Market Size FAQs

The Precious Metal Catalysts Market size is expected to reach 444.35 tons in 2024 and grow at a CAGR of 0.75% to reach 461.26 tons by 2029.

In 2024, the Precious Metal Catalysts Market size is expected to reach 444.35 tons.

Precious Metal Catalysts Market Report Snapshots

Precious Metal Catalysts Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)