The global precious metal catalysts market is presently valued at USD 19,410 million and is poised to amplify at a CAGR of 6.19%, thereby amassing a valuation of USD 31,380 million by end of the assessment timeframe.. It provides an in-depth analysis of the different attributes of the industry, such as trends, policies, and customers operating in different geographies. Research analysts use quantitative as well as qualitative analytical techniques to provide users, business owners, and industry professionals with accurate and actionable data.
Noble metal catalysts, or precious metal catalysts, are sophisticated types of catalysts that can be used in a variety of sectors. They are composed of metals such as ruthenium, palladium, rhodium, silver, gold, and platinum. Chemical reactions can be accelerated with their help. Precious metal catalysts are needed in a number of industries, including the chemical production sector, the automobile, electronics, pharmaceutical, and petroleum industries. The market is expanding as a result of rising demand for sophisticated catalysts with cutting-edge technology and less detrimental environmental effects. Moreover, a variety of sectors employ catalytic converters to lower pollution. Most frequently, precious metals like palladium and platinum are employed for this purpose. Additionally, a number of significant worldwide businesses are working to introduce more sophisticated technologies that can fulfill the need.
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Precious Metal Catalysts Market Trends :
Automotive Segment to Dominate the Market :
One of the market's main categories is automotive, since CO2 emissions can be decreased with the use of precious metal catalysts like platinum catalyst. Its main application is in the automotive industry to lessen the impact of pollutants emitted by industrial processing facilities. The majority of platinum usage can be validated by the increase in diesel vehicle sales. Platinum is additionally utilized as one of the catalysts for emission control. As a result of the region enacting stricter Euro 6 and Euro 7 emission regulations, it is predicted to dominate the European market.
In 2022, the United States grew by 10% from 2021 to create 10.06 million automobiles, making it the second-largest automotive manufacturer in the world, behind China. In 2022, the nation produced 8.3 million commercial vehicles and 1.75 million autos. Source: Market research on precious metal catalysts.
Robust demand from pharmaceutical industry is expected to boost the global metal catalyst demand:
The metal catalysts market is expected to rise at a rapid pace over the forecast period due to a surge in demand for precious metals from the pharmaceutical industry. The performance of the metal catalyst market, which uses palladium, iridium, and platinum metal catalyst to quickly assemble chemical structures common in antibiotics and anti-tumor compounds, has also improved due to a rise in RD spending in the biomedical sector and a strong use of platinum metal during pharmaceutical drug production. It is anticipated that these factors would increase the market's potential sales for metal catalysts in the upcoming years.
On the other hand, the expansion of metal catalysts in the automotive sectors has been accelerated by factors such as increased urbanization, population growth, increased demand for housing infrastructure, technological advancements, and modifications to car parts. These characteristics make metal catalysts economically viable, easily recyclable, and possess good thermal and electrical stability. Automotive exhaust filtration and high standard emission cars are two common applications for metal catalysts. Together, these elements propel the market's expansion and produce lucrative business prospects.
Key companies profiled in this research study are:
- BASF SE
- Evonik Industries AG
- Johnson Matthey Plc
- Heraeus Group
- Clariant International Ltd.
- Alfa Aeser
- Vineeth Precious Catalysts Pvt. Ltd.
- Umicore
- Chimet S.P.A.
- American Elements
- ALS Limited
- Ames Goldsmith Ceimig
- Stanford Advanced Materials
- Shanxi Kaida Chemical Engineering Co., Ltd.
- Hindustan Platinum Pvt.
- Synthesis with Catalysts Pvt.
Precious Metal Catalysts Market Segmentation:
By Type:
- Platinum
- Palladium
- Rhodium
- Iridium
- Ruthenium
- Gold
- Silver
- Osmium
- Others
By Distribution Channel:
- Direct Sales
- Indirect Sales
By End-Use:
- Automobile
- Pharmaceutical
- Refinery
- Petrochemical
- Agrochemicals
- Chemicals
- Environment and Material sciences
- Others
The leading players of the Precious Metal Catalysts industry, their market share, product portfolio, company profiles are covered in this report. Key market players are analyzed on the basis of production volume, gross margin, market value, and price structure. The competitive market scenario among Precious Metal Catalysts players will help the industry aspirants in planning their strategies. The statistics presented in this report are an accurate and useful guide to shaping your business growth.
Target audience:
- Precious metal catalyst unit producers
- Raw material producers and suppliers
- Precious metal producers and suppliers
- Precious metal catalyst distributors and traders
- End-use sectors
- Governments and RD institutions
- Market research and consulting firms
- Associations and industry bodies
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