Catalyst Market - Global Industry Size, Share, Trends, Opportunity & Forecast, Segmented By Raw Material (Chemical Compounds, Metals, Zeolites, Others), By Product (Heterogeneous Catalyst, Homogeneous Catalyst), By Application (Petroleum Refining, Chemical Synthesis, Polymers and Petrochemicals, Environmental, Others), By Region, & Competition, 2020-2030F

Market Overview

The Catalyst market was valued at USD 32.52 Billion in 2024 and is expected to reach USD 42.55 Billion by 2030 with a CAGR of 4.58%. The Global Catalyst Market serves as a fundamental enabler of critical industrial operations across diverse sectors, including refining, petrochemicals, automotive, pharmaceuticals, and emissions control. Catalysts are indispensable for enhancing reaction kinetics, maximizing yield, and reducing energy intensity positioning them as a strategic asset in both legacy production systems and the next generation of sustainable technologies.

Increasingly, the market is shifting away from a commodity-focused framework toward a value-oriented, performance-driven model, where customized catalyst solutions are developed to address efficiency, environmental compliance, and complex reaction requirements. This transformation is being accelerated by rising regulatory pressures, the demand for cleaner processes, and the need for advanced process optimization in high-value chemical production.

Key Market Drivers

Rising Automotive Production and Electrification Trends

The global automotive industry is undergoing a dynamic transformation, marked by steady growth in vehicle production and an accelerating shift toward electrification and cleaner mobility solutions. This dual trend is emerging as a significant driver for the catalyst market, influencing demand patterns across both traditional internal combustion engine (ICE) vehicles and next-generation electric and hybrid vehicles. Catalysts play a vital role in emissions control, battery material processing, and fuel cell technologies, positioning the automotive sector as a key growth engine for the global catalyst industry. Despite the rise of electric vehicles, ICE-powered vehicles continue to dominate global automobile sales, particularly in developing and emerging economies such as India, Indonesia, Brazil, and parts of Africa. Global sales of internal combustion engine (ICE) vehicles reached approximately 69.2 million units, reflecting the continued dominance of conventional powertrains in overall automotive demand despite growing momentum in electrification. Catalytic converters are essential for ICE vehicles to comply with increasingly stringent emission regulations worldwide. These systems use platinum group metal (PGM)-based catalysts to convert harmful pollutants such as nitrogen oxides (NOx), carbon monoxide (CO), and unburned hydrocarbons into less harmful substances. The demand for three-way catalysts (TWCs) in gasoline engines and selective catalytic reduction (SCR) and diesel oxidation catalysts (DOCs) in diesel engines remains strong, especially in markets enforcing newer emission norms such as Euro 6, Bharat Stage VI, and China VI. As automakers continue to ramp up production to meet rising consumer demand, especially in populous regions, the need for advanced emission control catalysts grows in parallel.

Governments worldwide are implementing tighter vehicle emission standards, compelling automotive manufacturers to adopt high-performance catalyst systems that ensure compliance without compromising fuel efficiency or engine performance. In response, the automotive sector is increasingly investing in next-generation catalyst technologies that offer greater thermal stability, broader operating temperature ranges, and enhanced conversion efficiency. Regulatory pressure is also driving innovation in low-PGM or PGM-free catalyst materials, expanding the scope of the catalyst market and attracting R&D investment. This regulatory environment acts as a long-term catalyst market growth enabler, especially as countries aim to combat urban air pollution and meet climate goals.

In 2024, global electric vehicle (EV) sales are projected to exceed 17 million units, accounting for over 20% of total new car sales a clear signal of accelerating consumer adoption and market shift toward electrified mobility. Industry forecasts indicate that EV sales will surpass 20 million units by 2025, underscoring the rapid scaling of electric vehicle penetration across key markets. While battery electric vehicles (BEVs) do not use traditional exhaust catalysts, the overall electrification trend including plug-in hybrid (PHEVs) and hybrid electric vehicles (HEVs) continues to support catalyst demand. Hybrid vehicles, which combine an electric motor with a conventional ICE, still require full emission control systems, often operating under more dynamic engine conditions. This creates demand for more robust and adaptable catalyst solutions. Additionally, the production of lithium-ion batteries used in EVs involves catalytic processes in the manufacturing of cathode materials (e.g., lithium cobalt oxide, nickel manganese cobalt oxide), where transition metal catalysts are employed to enhance reaction efficiency and product purity. Fuel cell electric vehicles (FCEVs) though still a niche use platinum-based catalysts in proton exchange membrane (PEM) fuel cells to enable electrochemical reactions that generate electricity from hydrogen. Therefore, the electrification trend, rather than reducing catalyst demand, is diversifying it expanding the market into new applications beyond emission control.

Urbanization and Industrial Growth in Emerging Markets

Urbanization is accelerating worldwide, with over 50% of the global population currently residing in urban areas. This shift is expected to intensify in the coming decades, as United Nations projections estimate that 68% of the world’s population will live in cities by 2050 and industrial development across emerging markets particularly in Asia Pacific, Latin America, the Middle East, and parts of Africa is significantly driving the expansion of the global catalyst market. As these regions undergo profound economic transformation, their growing demand for energy, infrastructure, manufactured goods, and cleaner technologies is creating a surge in catalyst usage across various industries such as refining, petrochemicals, automotive, construction, chemicals, and environmental management. Emerging economies are ramping up investments in refining and petrochemical capacities to meet domestic energy needs, reduce reliance on imports, and support downstream manufacturing industries. Countries like India, China, Indonesia, Vietnam, Nigeria, and Saudi Arabia are commissioning new refinery projects and upgrading existing units with advanced hydroprocessing and catalytic cracking technologies. These operations require large volumes of catalysts, particularly for processes such as hydrodesulfurization (HDS), hydrocracking, reforming, alkylation, and fluid catalytic cracking (FCC). This expansion is contributing to strong, sustained demand for a wide range of heterogeneous catalysts in these regions, making them key growth engines for the global market.

As urbanization accelerates, emerging markets are witnessing a sharp increase in demand for construction materials, plastics, fertilizers, pharmaceuticals, paints, and coatings, which are all heavily reliant on catalyst-driven chemical processes. Governments are promoting domestic production of chemicals and specialty chemicals as part of broader industrialization and self-reliance strategies. Catalysts are critical to large-scale chemical synthesis operations such as oxidation, hydrogenation, polymerization, and isomerization, enabling higher yields, lower energy consumption, and reduced by-products. This industrial expansion creates continuous and large-scale demand for catalysts, particularly in sectors like fertilizer production (e.g., ammonia synthesis), polymer manufacturing, and specialty chemicals. According to the World Bank, low- and middle-income countries require up to USD2.7 trillion annually to develop and maintain green infrastructure and essential services. Separately, the G20-supported Global Infrastructure Hub (GI Hub) estimates a global infrastructure investment need of USd94 trillion by 2040, with Asia accounting for the largest share of this projected demand. With rising urban populations, there is growing pressure on local and national governments to develop sustainable urban infrastructure, improve air and water quality, and manage industrial waste more efficiently. Catalytic converters and emission control systems are increasingly being deployed in public transportation, construction machinery, and industrial vehicles to comply with urban air quality norms. Catalysts are used in municipal and industrial wastewater treatment to break down harmful contaminants through advanced oxidation and photocatalytic processes. Waste-to-energy plants and incinerators in developing cities also rely on emission reduction catalysts to minimize pollutants like NOx, dioxins, and CO. Urbanization, therefore, not only drives increased consumption of catalyst-enabled products, but also mandates cleaner production and waste management processes, fueling catalyst market growth from both demand and compliance standpoints.

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Key Market Challenges

Volatility in Raw Material Prices and Limited Availability

A major challenge facing the global catalyst industry is the high cost and price volatility of key raw materials, particularly platinum group metals (PGMs) like platinum, palladium, and rhodium, as well as rare earth elements such as cerium and lanthanum.

These materials are essential components in a wide range of catalysts, including automotive emission control catalysts, petrochemical catalysts, and hydrogenation catalysts. Supply of these critical metals is highly concentrated in a few countries, making the market vulnerable to geopolitical tensions, trade restrictions, and supply chain disruptions. Price fluctuations not only affect profit margins for catalyst manufacturers, but also increase operating costs for end-users in refining, automotive, and chemical sectors.

This unpredictability complicates long-term planning and investment decisions, especially for companies in cost-sensitive markets. Additionally, the limited global availability of certain rare elements raises concerns over resource sustainability and supply security, prompting the need for recycling, substitution, or innovation in catalyst design.

Environmental and Disposal Challenges of Spent Catalysts

Another major restraint is the environmental impact and disposal complexity of spent (used) catalysts, which often contain toxic metals, hazardous chemicals, or radioactive residues depending on the application.

In sectors such as oil refining, chemical processing, and automotive emissions control, catalysts have a finite operational life and must be periodically replaced. Disposal of these spent catalysts involves complex, regulated procedures, as they are often classified as hazardous waste. This adds to operational costs and requires strict compliance with environmental laws across jurisdictions. Inadequate disposal or recycling practices can lead to soil and water contamination, resulting in environmental liability and reputational risks for both manufacturers and users.

Although the catalyst recycling industry is growing, it remains underdeveloped in several emerging markets due to lack of infrastructure, technological capabilities, and regulatory clarity. These environmental challenges are pushing companies to invest in eco-friendly catalyst formulations and closed-loop recycling systems, which may not yet be economically feasible for all market players.

Key Market Trends

Integration of Artificial Intelligence (AI) and Machine Learning in Catalyst Design

The incorporation of artificial intelligence (AI) and machine learning (ML) into catalyst research and development is revolutionizing the way catalysts are discovered and optimized.

AI models are increasingly being used to predict catalytic behavior, reaction mechanisms, and material compatibility based on vast chemical data sets. This data-driven approach allows for faster screening of catalyst candidates, reducing the time and cost associated with traditional trial-and-error methods in laboratories. Companies and research institutions are now leveraging computational chemistry and predictive analytics to design catalysts with enhanced selectivity, durability, and activity tailored to specific industrial processes.

As AI becomes more accessible and powerful, it is expected to enable rapid innovation cycles, drive custom catalyst development, and ultimately transform catalyst manufacturing into a more efficient, knowledge-intensive process.

Emergence of Circular Catalyst Economy and Catalyst-as-a-Service (CaaS) Models

The catalyst industry is gradually moving toward a circular economy approach, where catalyst lifecycle management, recycling, and regeneration become integral components of the value chain. This shift is being reinforced by the adoption of Catalyst-as-a-Service (CaaS) models.

In a CaaS model, catalyst suppliers retain ownership of the catalyst and provide it to industrial users as a performance-based service rather than a one-time product sale. These arrangements include on-site catalyst performance monitoring, regeneration, recycling, and replacement, thereby improving overall process efficiency and environmental compliance. The shift toward circularity also encourages recovery of valuable metals such as platinum, palladium, and rare earth elements from spent catalysts, helping to reduce raw material dependency and mitigate supply chain risks.

This trend is enabling more sustainable, cost-effective, and customer-centric business models, particularly in industries with high catalyst turnover such as refining, chemicals, and emissions control.

Segmental Insights

Product Insights

Based on the category of Product, the Heterogeneous Catalyst emerged as the fastest growing in the market for Catalyst in 2024. Heterogeneous catalysts solid catalysts used in reactions where the reactants are in a different phase (typically liquid or gas) offer superior process efficiency, ease of separation, and reusability, which significantly reduce operating costs in industrial settings. These catalysts can be easily separated from the reaction mixture without complex purification steps, reducing downtime and energy consumption. Their long operational life and consistent performance make them ideal for continuous large-scale processes, especially in refining and petrochemical industries.

A major driver of the segment’s growth is the extensive use of heterogeneous catalysts in petroleum refining, where they are indispensable in key processes such as Hydrodesulfurization (HDS), Fluid Catalytic Cracking (FCC), Hydrotreating, Reforming. With global refiners increasingly processing heavier and sourer crude grades, there is heightened demand for robust heterogeneous catalysts capable of handling higher sulfur and metal content while meeting stricter fuel quality standards. The transition to ultra-low sulfur fuels in emerging markets is accelerating the deployment of HDS and FCC catalysts. Heterogeneous catalysts are central to environmental protection technologies, particularly in the reduction of industrial and vehicular emissions. These catalysts are widely used in Selective Catalytic Reduction (SCR) systems to reduce nitrogen oxide (NOx) emissions from power plants and diesel engines. Automotive exhaust systems rely on three-way catalysts (TWC) and diesel oxidation catalysts (DOC) both heterogeneous in nature for compliance with stringent emission norms in Europe, North America, and increasingly in Asia. With growing focus on air quality, especially in densely populated and industrializing countries, demand for these emission control catalysts is rising rapidly. These factors contribute to the growth of this segment.

Raw Material Insights

Based on the category of Raw Material, the chemical compounds segment emerged as the dominating segment in the market for Catalyst in 2024. Chemical compounds such as metal oxides, metal salts, acids, alkalis, and organometallics are essential precursors in the synthesis of catalysts used in oil refining, petrochemicals, chemicals, environmental protection, and renewable energy applications. Metal oxides (e.g., alumina, silica, titanium oxide) act as supports or active materials in heterogeneous catalysts. Transition metal compounds such as cobalt, nickel, molybdenum, platinum, palladium, and vanadium are integral to catalytic functions in hydrotreating, hydrocracking, and polymerization processes. Organometallic compounds play a central role in homogeneous catalysis used in fine chemicals and pharmaceutical manufacturing. This widespread applicability makes chemical compounds the most preferred and utilized raw materials in the global catalyst industry.

Refining and petrochemical sectors are the largest consumers of catalysts globally, and these industries heavily rely on catalysts derived from inorganic chemical compounds. For instance, hydrodesulfurization (HDS) and hydrocracking catalysts typically use molybdenum, cobalt, or nickel oxides supported on alumina. Fluid catalytic cracking (FCC) catalysts are primarily composed of zeolite-based materials, synthesized using various chemical compounds. Given the scale and technical complexity of refining operations, the demand for chemically stable and high-performing raw materials is constant, reinforcing the dominance of this segment. Chemical compounds used in catalyst production are readily available at industrial scale, supported by a mature and globally integrated chemical supply chain. This availability ensures Stable sourcing for catalyst manufacturers, Lower material cost volatility compared to more exotic or rare raw materials, Greater flexibility in customizing catalyst formulations for specific end-use applications. The chemical industry’s global footprint further enhances this advantage, ensuring uninterrupted supply across key markets.

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Regional Insights

Asia Pacific emerged as the largest market in the global Catalyst market in 2024, holding the largest market share in terms of value. Asia Pacific hosts some of the world’s fastest-growing economies, including China, India, South Korea, and Southeast Asian nations. The region's booming industrial and manufacturing sectors, particularly in petrochemicals, refining, chemicals, automotive, and pharmaceuticals, have fueled consistent demand for catalysts, which are essential for increasing reaction efficiency and reducing energy consumption in various processes. China, for example, is the global leader in chemical production and refining capacity, accounting for a substantial share of catalyst consumption. India is rapidly expanding its refining and petrochemical infrastructure, contributing to growing catalyst demand.

With rising energy demand and an increasing appetite for refined petroleum products, the region is witnessing massive investments in refining and petrochemical complexes. Numerous Greenfield and Brownfield refinery projects across China, India, Vietnam, and Malaysia are driving demand for hydroprocessing, reforming, and FCC (fluid catalytic cracking) catalysts. Asia Pacific accounts for a significant portion of the world’s new refining capacity additions, making it a key growth engine for refining catalysts. Stricter environmental standards are compelling industries across Asia to adopt cleaner and more efficient catalytic technologies. Governments in the region are mandating the use of low-sulfur fuels and tightening emission norms, which is boosting demand for catalysts used in hydrodesulfurization (HDS), selective catalytic reduction (SCR), and catalytic converters. China’s "Blue Sky" initiative and India's BS-VI fuel standards are major regulatory drivers. Rapid urbanization and pollution control measures are increasing adoption of automotive and industrial emission control catalysts.

Recent Developments

• In May 2025, Honeywell has announced the acquisition of Johnson Matthey’s Catalyst Technologies business, a strategic move aimed at enhancing its Energy and Sustainability Solutions portfolio. By integrating Johnson Matthey’s advanced catalyst technologies and process expertise, Honeywell expects to unlock synergies in low-carbon hydrogen, sustainable fuels, and carbon capture applications. The transaction is positioned to drive operational efficiencies, expand solution capabilities, and accelerate the development of decarbonization technologies across key industrial sectors. This acquisition reflects Honeywell’s focused strategy to strengthen its position in high-growth, sustainability-driven markets.
• In December 2024, BASF has officially inaugurated its new Catalyst Development and Solids Processing Center at its Ludwigshafen site in Germany. This state-of-the-art research facility is designed to support pilot-scale synthesis of chemical catalysts, significantly accelerating BASF’s ability to deliver next-generation catalytic solutions to its global customer base. Strategically positioned within BASF’s innovation ecosystem, the center will play a critical role in advancing solids processing technologies, serving as a core platform for scaling lab innovations into market-ready products.

Key Market Players

• Albemarle Corporation
• Topsoe A/S
• BASF SE
• Evonik Industries AG
• LyondellBasell Industries Holdings B.V.
• Arkema
• The Dow Chemical Company
• Johnson Matthey
• Clariant
• Exxon Mobil Corporation

Report Scope:

In this report, the Global Catalyst Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Catalyst Market, By Raw Material:

o   Chemical Compounds

o   Metals

o   Zeolites

o   Others

• Catalyst Market, By Product:

o   Heterogeneous Catalyst

o   Homogeneous Catalyst

• Catalyst Market, By Application:

o   Petroleum Refining

o   Chemical Synthesis

o   Polymers and Petrochemicals

o   Environmental

o   Others

• Catalyst Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Catalyst Market.

Available Customizations:

Global Catalyst market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).