Global Precious Metal Catalysts Market to Reach $19.9 Billion by 2026

SAN FRANCISCO, June 9, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Precious Metal Catalysts - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Engagements: 3214
Companies: 41 - Players covered include Alfa Aesar; ALS Ltd.; American Elements; Arora Matthey Limited; BASF SE; Catalysts and Technologies; Catalytic Products International, Inc.; Chimet S.P.A.; Clariant International Ltd.; DCL International Inc.; Evonik Industries AG; Heraeus Holding GmbH; J&J Materials Inc.; Johnson Matthey PLC; Kunming Sino- Platinum Metals Catalyst Co., Ltd.; N.E. Chemcat Corporation; Remettal Deutschland AG; Sabin Metal Corporation; Shaanxi Kai Da Chemical Engineering Co., Ltd.; Souvenier Chemicals; Stanford Advanced Materials; Umicore NV/SA; Vineeth Precious Catalysts Pvt. Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Type (Platinum, Palladium, Ruthenium, Rhodium, Iridium, Other Types); End-Use (Automobile, Pharmaceutical, Refinery, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Precious Metal Catalysts Market to Reach $19.9 Billion by 2026
Catalyst by definition is a substance that enhances rate of chemical reaction without itself being chemically altered or consumed. Precious metal catalysts are made of nanoscale particles which tend to absorb oxygen and hydrogen present in the atmosphere. The different types of precious metal catalysts include palladium, iridium, platinum, ruthenium and rhodium catalysts. The automotive manufacturing sector is one of the major users of platinum catalyst for emission control. Autocatalysts aid in the reduction of emissions from diesel and gasoline engines. Demand for the catalyst is projected to be high with the introduction of stricter regulations for emissions control. Similarly stringent emission standards for other industries are also anticipated to be implemented in countries across the world, which would create even stronger demand for precious metal catalysts. Rhodium is witnessing rapid growth in the recent years riding on the wave of stringent enforcement of emission norms and NOx compliances. With HDD norms rolling out in China, platinum is gearing up for healthy demand rise, along with growing thrifting and novel applications in light vehicle sector favoring tri metal catalysts to keep costs under check.

Amid the COVID-19 crisis, the global market for Precious Metal Catalysts estimated at US$14.5 Billion in the year 2020, is projected to reach a revised size of US$19.9 Billion by 2026, growing at a CAGR of 5.5% over the analysis period. Platinum, one of the segments analyzed in the report, is projected to grow at a 6.6% CAGR to reach US$7.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Palladium segment is readjusted to a revised 5.8% CAGR for the next 7-year period. This segment currently accounts for a 22.8% share of the global Precious Metal Catalysts market. Platinum group metals such as Platinum, Palladium, and Rhodium find extensive usage in automotive catalysts. These catalysts aid in reducing the emission of harmful exhaust gases such as carbon monoxide, particulate matter, sulfur oxides, nitrogen oxides, and hydrocarbons. Palladium metal in catalysts is extensively used in applications where hydroesterifcation reactions are needed. Palladium is widely used in emission catalysts for different light trucks and automobiles.

The U.S. Market is Estimated at $3.7 Billion in 2021, While China is Forecast to Reach $3 Billion by 2026
The Precious Metal Catalysts market in the U.S. is estimated at US$3.7 Billion in the year 2021. The country currently accounts for a 24.63% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$3 Billion in the year 2026 trailing a CAGR of 7.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 5.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR while Rest of European market (as defined in the study) will reach US$3.2 Billion by the end of the analysis period. Presence of major players and also stringent emission regulations make Europe the largest regional market for precious metal catalysts. North America is primed to witness rapid gains owing to higher loadings of catalysts in heavy duty vehicles. With HDD norms rolling out in China, platinum is gearing up for healthy demand rise, along with growing thrifting and novel applications in light vehicle sector favoring tri metal catalysts to keep costs under check.

Ruthenium Segment to Reach $2.3 Billion by 2026
Ruthenium is being used in electro-chlorination systems deployed in countries such as Italy, Singapore, Japan and China for producing sodium hypochlorite to disinfect surfaces such as public areas and buildings for mitigating Covid-19 infection risk. In the global Ruthenium segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$1.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$293.1 Million by the year 2026, while Latin America will expand at a 5.1% CAGR through the analysis period. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: ZA@StrategyR.com

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