Precious Metal Catalysts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Type (Platinum, Palladium, Rhodium, Iridium, Ruthenium, and Other Types), Application (Automotive, Pharmaceutical, Petrochemicals, and Other Applications), Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Precious Metal Catalysts in revenue (USD million) for all the above segments.

Market Snapshot

Precious Metal Catalysts Market Bar Graph
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 5 %
Precious Metal Catalysts Market Major Players

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Market Overview

The Global Precious Metal Catalysts Market is projected to register a CAGR of around 5% during the forecast period (2021-2026).

COVID-19 has severely impacted the demand and supply chain of the precious metal catalysts market. The automobile industry and petrochemical industry which are the major applications of the market are negatively impacted by the pandemic due to the lockdown regulations on transportation issued by governments thus affecting the precious metal catalysts market. Several countries were forced to go in lockdown owing to the pandemic scenario, which led people to minimize the usage of personal vehicles, thus creating a negative impact on the demand of automotive catalysts used in the vehicle exhaust streams and in-turn decreasing the demand of the precious metal catalysts. The COVID-19 crisis has fundamentally changed the operations of the pharma industry around the world. The countries have put short-term pressure on budgets, reduced treatment of non-COVID-19 patients, and undermined market fundamentals in the first two quarters of 2020. However, the pharma industry is reaching its normality, which is likely to increase the demand for precious metal catalysts during the forecast period.​

  • In the medium term, one of the major factors driving the market studied is the accelerating demand for high-performance transportation fuel.
  • On the flip side, high production costs and the impact of the COVID-19 pandemic are likely to hinder the growth of the market studied.
  • Asia-Pacific dominated the market with the largest consumption coming from China, ASEAN countries, and India.

Scope of the report

The precious metal catalysts market is segmented by type, application, and geography. By type, the market is segmented into platinum, palladium, rhodium, iridium, ruthenium, and other types. By application, the market is segmented into automotive, pharmaceutical, petrochemicals, and other applications. The report also covers the market size and forecasts for the Precious Metal Catalysts Market in 17 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD Million).

Type
Platinum
Palladium
Rhodium
Iridium
Ruthenium
Other Types
Application
Automotive
Pharmaceutical
Petrochemicals
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Platinum Segment to Dominate the Market

  • Platinum is one of the major segments of the market, as the platinum catalyst helps to reduce CO2 emission. It is largely used in the automobile sector to reduce the effect of pollutants released by the industrial processing units. The majority of platinum consumption can be validated by the rise in the sale of diesel vehicles. In addition to it, platinum is used as one of the emission control catalysts. Thus it is estimated to dominate the European market owing to the region's introduction of more stringent Euro 6 and Euro 7 emission rules.​
  • The auto-catalysts help to reduce emissions from gasoline and diesel engines and improve the energy efficiency of industrial processes. For over 35 years, autocatalysts containing platinum group metals have proven the most effective way to tackle pollution generated by all types of petrol and diesel vehicles. Autocatalysts eliminate 98% of harmful emissions from engine exhausts; without them, the average family car would emit 15 tonnes of polluting gases over a 10-year life span.​
  • Platinum along with, pollution control catalysts is also used for various applications in automobiles such as  Engine control sensors, airbag initiators, Electronics for engine management systems, and spark plugs.​ According to OICA (International Organisation of Motor Vehicles Manufacturers), the global production of automobiles in the third quarter of 2019 and 2020 was around 65 million and 50 million. The decrease in production is due to the COVID-19 pandemic. However, with the lifting of lockdown and transportation regulations, the automobile industry is expected to recover during the forecast period.
  • Platinum is also used to enhance medical technology to improve health care. The platinum group metals are also used in the pharmaceutical industry as many important catalysts rely on platinum, palladium, ruthenium, rhodium, iridium, and osmium.​
  • Sources, such as automobiles, refinery & petrochemical complexes, chemical industries, oil, and natural gas processing plants, and pharmaceutical industries, among others, are discovering an increasing number of applications of platinum-based emission control catalysts and increases the demand for platinum catalyst thus increasing the market studied.
Precious Metal Catalysts  Market Share

China to Dominate the Asia-Pacific Market

  • China is one of the fastest-growing economies, globally. Furthermore, almost all the end-user industries have been witnessing growth, owing to the growing population, living standards, and per capita income.
  • China is a hub for chemical processing, accounting for a major chunk of the chemicals produced globally. The country contributes more than 35% of global chemical sales. The chemical industry is another prominent end-user industry in China. Many major companies in the market have their chemical plants in China. With the growing demand for various chemicals, globally, the demand for precious metal catalysts from this sector is projected to grow during the forecast period.
  • China is the world’s second-largest pharmaceutical market and is considered a priority for most global players.​ The precious metal catalysts are of particular interest to the pharmaceutical industry because many important catalysts rely on platinum, palladium, ruthenium, rhodium, iridium, and osmium.​ The Chinese healthcare sector is growing at a rapid pace. As a part of Beijing's "Made in China 2025" industry plan, President Xi Jinping announced his plans to focus on innovation and homegrown R&D concerning the pharmaceutical sector.
  • Moreover, the Chinese automotive manufacturing industry is the largest in the world. Though the industry witnessed a slowdown in 2019, wherein the production and sales declined. However, as of March 2020, China has lifted the lockdown in the country and has started various industrial operations in the country, while other countries are still aggressively engaged in lockdowns and restrictions in manufacturing activities. According to a forecast report released in December 2020 by the China Association of Automobile Manufacturers (CAAM) and Center of Policy Studies for the Automobile Industry in China (CPSAIC), China auto sales will reach 27.227 million units in 2021, including 22.908 million passenger vehicles (PVs) and 4.319 million commercial vehicles (CVs).
  • Owing to all the factors mentioned, the Asia-Pacific region is to dominate the market during the forecast period, with China accounting largest share in the growth.
Precious Metal Catalysts Market Growth Rate By Region

Competitive Landscape

The global precious metal catalysts market is partially consolidated in nature, with the top five players accounting for a considerable share in the global market. Some of the prominent players in the market include Clariant, BASF SE, Evonik Industries AG, Johnson Matthey, and Umicore Galvanotechnik GmbH, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Accelerating Demand for High-Performance Transportation Fuel

      2. 4.1.2 Increasing Investment in Refineries

    2. 4.2 Restraints

      1. 4.2.1 High Production Costs

      2. 4.2.2 Impact of COVID-19 Pandemic

      3. 4.2.3 Other Restraints

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Platinum

      2. 5.1.2 Palladium

      3. 5.1.3 Rhodium

      4. 5.1.4 Iridium

      5. 5.1.5 Ruthenium

      6. 5.1.6 Other Types

    2. 5.2 Application

      1. 5.2.1 Automotive

      2. 5.2.2 Pharmaceutical

      3. 5.2.3 Petrochemicals

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Russia

        6. 5.3.3.6 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements

    2. 6.2 Market Share** /Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Alfa Aesar, Thermo Fisher Scientific

      2. 6.4.2 ALS Limited

      3. 6.4.3 American Elements

      4. 6.4.4 BASF SE

      5. 6.4.5 Catalytic Products International

      6. 6.4.6 CHIMET

      7. 6.4.7 Clariant

      8. 6.4.8 Evonik Industries AG

      9. 6.4.9 Heraeus Holding

      10. 6.4.10 J&J Materials, Inc.

      11. 6.4.11 Johnson Matthey

      12. 6.4.12 Kaili Catalyst New Materials CO., LTD.

      13. 6.4.13 ReMetall Deutschland AG

      14. 6.4.14 Sabin Metal Corporation

      15. 6.4.15 Shaanxi kaida chemical co. LTD

      16. 6.4.16 Souvenier Chemicals

      17. 6.4.17 Stanford Advanced Materials

      18. 6.4.18 Umicore Galvanotechnik GmbH

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Precious Metal Catalysts Market market is studied from 2016 - 2026.

The Precious Metal Catalysts Market is growing at a CAGR of 5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Clariant, BASF SE, Evonik Industries AG, Johnson Matthey, Umicore Galvanotechnik GmbH are the major companies operating in Precious Metal Catalysts Market.

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