Precious Metal Catalyst Market Size Worth USD 33.79 Billion in 2032 | Emergen Research
Rising environmental concerns and regulations is a major factor driving market revenue growth
VANCOUVER, BRITISH COLUMBIA, CANADA, June 20, 2024 /EINPresswire.com/ -- The global precious metal catalyst market1 size was USD 19.41 Billion in 2022 and is expected to register a steady revenue CAGR of 5.7% during the forecast period, according to latest analysis by Emergen Research. Rising environmental concerns and regulations is primary key factor driving market revenue growth. Precious metal catalysts can be recycled and reused, which reduces waste and decreases the requirement for fresh catalyst manufacture. These catalysts are frequently made from recycled materials, which as a result minimizes the environmental effect, which enable faster production rates and higher product yields. Precious metals are also used in catalytic converters to reduce harmful emissions, such as nitrogen oxides, carbon monoxide, and unburned hydrocarbons, in vehicle exhaust.
In addition, rising demand for precious metal catalysts in the automotive industry is another key factor driving revenue growth of the market. Precious metals have a higher melting point than base metals as a result, these might accelerate various hydrogenation and oxidation reactions at high temperatures and in harsh environments, and hence are utilized in the automotive industry to treat exhaust gases. Precious metals are becoming increasingly significant in assisting automakers in meeting emissions limits and sustainability goals. However, there are several disadvantages associated with precious metal catalysts, such as restricted availability, high price, and toxicity, which could restrain market revenue growth.
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Scope of the Report:
The extensive survey on the Precious Metal Catalyst market further identifies data that best fits the business requirement such as product classification, application and important definition. In addition, the study takes into account series of industry-leading events designed to enlighten the product owners on return on investment, investment feasibility, supply chain management, consumption volume, customer behaviour and demand and supply. To bring in more accuracy and quality to the study of Precious Metal Catalyst market the report interprets critical information through tables, infographics, and charts.
In market segmentation by manufacturers, the report covers the following companies-
Johnson Matthey, BASF SE, Heraeus Group, CLARIANT, Evonik, TANAKA Holdings Co., Ltd, Solvay, Vineeth Precious Catalysts Pvt. Ltd, American Elements, Axens, Topsoe, Catalytic Products International, SACHEM, INC., Fuel Tech Inc., ALS, CHIMET, J&J MATERIALS, ReMetall Deutschland AG, Sabin Metal Corporation, and Souvenier Chemicals.
Some Key Highlights From the Report
The platinum catalysts segment accounted for largest revenue share in the global precious metal catalyst market in 2022. This is due to rising demand for platinum catalysts owing to their numerous advantages, including superior atom economy, environmental friendliness, simplicity of industrialization, and recyclability. These catalysts are frequently used as catalysts for asymmetric catalytic hydrogenation. Platinum Group Metals (PGM) have been used to produce sulfuric and nitric acid and are popular hydrogenation and polymerization catalysts.
The online retail segment reis expected to register steadily fast revenue growth rate in the global precious metal catalyst market during the forecast period. This is due to increasing use of precious metal catalysts in industries such as automotive, chemical, petrochemical, energy, and electronics, and others. E-commerce is changing the way that people buy and sell alternative products. In terms of product accessibility, affordability, transportation patterns, and many other important elements, e-commerce websites have several benefits over other types of sales channels.
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Emergen Research has segmented the global precious metal catalyst market on the basis of type of precious metal, application, end-use, catalyst manufacturing, distribution channel, and region:
Type of Precious Metal Outlook (Revenue, USD Billion,; 2019-2032)
Platinum Catalysts
Palladium Catalysts
Rhodium Catalysts
Gold Catalysts
Others
Application Outlook (Revenue, USD Billion; 2019-2032)
Emission Control Catalysts
Chemical Synthesis Catalysts
Fuel Cell Catalysts
Pharmaceutical Catalysts
Petrochemical Catalysts
Environmental Catalysts
Electronics Catalysts
Others
End-use Outlook (Revenue, USD Billion; 2019-2032)
Automotive
Chemical and Petrochemical
Pharmaceuticals
Oil & Gas (O&G)
Electronics
Energy
Environmental
Food & Beverage (F&B)
Others
Catalyst Manufacturing Method Outlook (Revenue, USD Billion; 2019-2032)
Chemical Vapor Deposition (CVD)
Physical Vapor Deposition (PVD)
Sol-Gel Method
Impregnation
Electrodeposition
Others
Distribution Channel Outlook (R Revenue, USD Billion; 2019-2032)
Direct Sales
Distributors
Online Retail
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
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