Environmental Catalysts Market is estimated to be US$ 69.1 billion by 2034 with a CAGR of 5.10% during the forecast period

Published Date: February 2024

Environmental catalysts are a type of catalyst that is primarily used to reduce the levels of different harmful emissions and pollutants associated with process and energy-based industrial businesses. Furthermore, environmental catalysts are widely used in a variety of industrial applications and are also used to minimize emissions from automobiles. Catalysts are therefore commonly used in chemical plants, steel mills, railroad engines, gas turbines, waste incineration plants, FCC units in refineries, cement production, calcination plants, steam crackers, gas and diesel engines, and power plants. Such diverse applications of the catalyst are expected to drive growth in the global environmental catalysts market from 2024 to 2034.

Region Analysis:

Europe and North America are the main regions in the global environmental catalysts market, according to the analysis. Increased environmental consciousness is projected to drive the market in North America to expand rapidly. Asia Pacific, led by China, is expected to grow rapidly in the next years. This is due to the fact that Asia consumption of compounded catalysts is predicted to rise, aided by the region rising population, improving infrastructure, and steady economic expansion. Environmental catalysts and polymer products are projected to be in high demand in emerging economies such as China and India. In the anticipated time, abundant coal-to-chemical processes and shale gas investment are expected to improve China's growth rate.

Key Highlights:

  • In 2020, BASF will launch Fortune, a novel FCC catalyst for gasoil feedstock. The product uses BASF's Multiple Framework Topology (MFT) technology to provide greater butylene over propylene selectivity while retaining catalytic activity.
  • Sinopec completed the core unit of the AL-Zout refinery project in Kuwait in 2019. The refinery will generate 3,150 tonnes of oil per year, increasing demand for the company's refinery catalyst.

Key Market Insights from the report:

Environmental Catalysts Market was valued at US$ 42  Billion in 2024 and is projected to grow at a CAGR of 5.10% to reach US$ 69.1 Billion by 2034. The environmental catalyst market report segments the market on the basis of raw material, product, application, and region.

  • Based on Raw Material, Environmental Catalysts Market is segmented into Chemical Compounds, Metals, and Zeolites.
  • Based on Product, Environmental Catalysts Market is segmented into Heterogeneous and Homogenous.  
  • Based on application, Environmental Catalysts Market is segmented into Chemical Synthesis, Petroleum Refining, Polymers & Petrochemicals, and Environmental. 
  • By Region, the Environmental Catalysts Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Environmental Catalysts Market:

The key players operating in the Environmental Catalysts Market includes BASF SE, Johnson Matthey PLC, CRI Catalyst Co., Ltd, Axens SA, Environmental Catalyst Technologies Co., Ltd., Treibacher Industrie AG, Applied Catalysts Inc., Evonik Industries, Dow Chemicals and EmeraChem LLC.

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