Top Catalyst Companies

Catalyst Market size was valued at USD 35.4 Billion in 2023 and is poised to grow from USD 36.89 Billion in 2024 to USD 51.27 Billion by 2032, growing at a CAGR of 4.2% during the forecast period (2025-2032).

The catalyst industry is fairly fragmented with the presence of many large and medium-sized players accounting a majority of market share across the globe such as BASF SE, Dow Chemical Company, and Clariant AG. Key players are impending various strategies, mergers & acquisitions, testing, and launching more attractive catalyst solution. For instance, In March 2020, BASF announced that they have created and successfully tested a novel tri-metal catalyst technology, supported by Sibanye-Stillwater and Impala Platinum. 'BASF SE (Germany)', 'Johnson Matthey (UK)', 'Clariant International Ltd. (Switzerland)', 'Honeywell UOP (USA)', 'Shell Catalysts & Technologies (Netherlands)', 'ExxonMobil Catalysts and Licensing (USA)', 'LyondellBasell Industries (USA/Netherlands)', 'Albemarle Corporation (USA)', 'Haldor Topsoe (Denmark)', 'Umicore (Belgium)', 'W.R. Grace & Co. (USA)', 'Sinopec (China)', 'Arkema S.A. (France)', 'The Dow Chemical Company (USA)', 'DuPont de Nemours, Inc. (USA)', 'Cabot Corporation (USA)', 'Engelhard Corporation (acquired by BASF, USA)', 'KNPC (Kuwait)', 'CRI Catalyst Company (USA)', 'Mitsubishi Chemical Corporation (Japan)'

Growing demand for petroleum refined products, petrochemicals, and chemical synthesis are the key driving factors of the global catalyst industry. The ability and capacity of a catalyst to reduce the amount of energy to produce an end product, environmental regulations on emissions control, and lowering energy cost is also a major driver contributing to market growth over the forecast period.

Growing expansion of the petroleum industry is resulting in the rising establishment and development of petroleum capacities along with the increase in need for various chemical products and eco-friendly fuels. This has resulted in a positive impact on the global market. As per the catalyst market trend, the rapid growth for the petroleum-based products from power generation plants is expanding the market growth of petrochemicals plants and petroleum refining for a safer, faster, and convenient production process.

Globally, Asia Pacific dominated the market with a contribution of more than 40% of market share in 2023, owing to rise in demand for automotive from developing economies, such as India and China, Furthermore, rapid industrialization activities, stringent automotive legislation, and increase number of applications in end-user industries are some other factors that are expected to foster the catalyst market growth in the region over the forecast period. For instance, in February 2022, BASF and Heraeus have agreed to create and launch a joint venture (BASF 50% and Heraeus 50%) to recover valuable metals from wasted catalysts of automobiles. The newly formed business will be based in Pinghu, China and known as BASF HERAEUS (China) Metal Resource Co., Ltd.