Market Size of Aluminum Nickel Catalysts Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 417.94 Million |
| Market Size (2029) | USD 513.65 Million |
| CAGR (2024 - 2029) | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aluminum Nickel Catalysts Market Analysis
The Aluminum Nickel Catalysts Market size is estimated at USD 417.94 million in 2024, and is expected to reach USD 513.65 million by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
The COVID-19 pandemic resulted in a decline in demand for aluminum nickel catalysts, as many industries that use these catalysts, such as refinery and petrochemical industries, were forced to reduce or suspend operations. However, post-COVID, the market is recovering and is expected to grow in the forecast period.
- The major factor driving the growth of the market studied is the augmenting demand for hydrogenation reactions, as it is used to produce a wide range of products, including chemicals, pharmaceuticals, and food ingredients.
- On the flip side, there are a number of alternative catalysts that can be used for the same applications as aluminum nickel catalysts. For instance, cobalt catalysts and palladium catalysts are both effective for hydrogenation reactions.
- Booming natural gas production to provide future opportunities for hydrodesulfurization is likely to provide a major growth opportunity for the market studied during the forecast period.
- Asia-Pacific is dominating the market as there is rapid growth in the chemical industry driven by factors such as increasing urbanization, rising disposable incomes, and growing demand for consumer goods.
