Hydrogenation catalyst Market Size, Share & Industry Analysis, By Product Type (Precious metal based, Common metal based, Alloy based), By Form (Homogenous Catalyst, Heterogeneous Catalyst), By End-Use (Oil & Gas, Chemical, Pharmaceuticals, Petrochemicals, Polymer, Others) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Hydrogenation is a significant chemical reaction between hydrogen and other chemical, compound or element in presence of catalysts like nickel palladium or platinum. The catalysts used for hydrogenation are called as hydrogenation catalyst. These catalysts are commercially used in hydrogenation of Carbon-Carbon (C-C) bond, nitro group reduction, and also removal of benzyloxycarbonyl and benzyl groups. Some of the examples of these catalysts are Crabtree’s catalyst, Wilkinson’s catalyst, metals like platinum, palladium, and others.
The growing demand for heterogeneous catalysts from chemical & industrial application areas is likely to drive the market. use of hydrogenation reaction for various synthesis and manufacturing of products. Additionally, increasing adoption of asymmetrical hydrogenation is one of the key factor boosting the market.
However, there are stringent regulations imposed by regulatory authorities for environmental well-being of society. The catalyst industry is under strict scrutiny due to the potential negative effects due to emission of toxins.
Key Market Driver -
Increasing adoption of hydrogenation in several syntheses.
Key Market Restraint -
Stringent regulations imposed by environmental regulatory authorities.
Market Segmentation:
Based on product type, the global hydrogenation catalyst market is segmented into precious metal based, common metal based, and alloy based catalysts. Based on form, the market is segmented into heterogeneous and homogenous. Based on end-use, market is segmented into oil & gas, chemical, pharmaceuticals, petrochemicals, polymer, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global hydrogenation catalyst market consists of global & regional players operating. Some of the key players in the market include BASF, Evonik, Sinopec, CNPC, Johnson Matthey, Advanced Refining Technologies (ART), Albemarle, and others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the Hydrogenation Catalyst Market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Market
Regional Analysis:
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market due to the multidimensional research and development in chemical and production techniques. Increasing scientific research for the platinum and exploring the capabilities of platinum group metals shall drive the regional market. Asia Pacific is estimated to show significant growth due to the large manufacturing base for chemicals and specialty chemicals. Europe is expected to show considerable growth due to the demand for pharmaceutical sector. Latin America & Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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Segmentation
ATTRIBUTE | DETAILS |
By Product Type |
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By Form |
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By End-Use |
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By Geography |
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Hydrogenation catalyst Industry Developments
- In September 2020, BASF announced the launch of new series of selective hydrogenation catalysts portfolio. The new palladium alumina catalyst shows tolerance to sulphur impurities and offers superior activity.
- In February 2020, Evonik launched hydrogenation pilot plant in India. This plant is set up for optimizing the production processes of hydrogenation catalysts for oils and fats.
- Ongoing
- 2023
- 2019-2022
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