Europe Homogeneous Precious Metal Catalyst Market: Segment Is Expected To Grow Further At A Steady CAGR Of Over 18% From 2021 To 2028
Europe Homogeneous Precious Metal Catalyst Industry Overview
The Europe homogeneous precious metal catalyst market size to be valued at USD 2.4 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 18.9% during the forecast period. Increasing preference for homogeneous catalysts over heterogeneous ones owing to their specific features, especially associated with selectivity, augment the market growth. The market is also expected to witness a significant hike in demand amid the Covid-19 pandemic as PGM catalysts are utilized in the formulation of several APIs, such as a few antibiotics used for Covid-19 treatment. Homogeneous precious metal catalysts, the directed synthesis of a composite organic intermediate, can be completed catalytically to deliver a product that could not be obtained by other means.
A homogeneous catalytic way can enhance the product superiority as well as the complete economics of a present process. Several proven homogeneous catalysts are appropriate for laboratory preparations. Market players are involved in continuous innovation to increase the user base and target greater market growth in the future.
Gather more insights about the market drivers, restraints and growth of the Europe Homogeneous Precious Metal Catalyst market
The research and development have been evident through the investments and efforts to come up with new ‘greener’ and cost-effective catalyst technologies to complement or replace the existing, costlier catalytic processes.
For example, American Elements came up with a new catalytic process involving rhodium of alumina spheres to replace the costlier pure rhodium/iridium catalysts. Such measures are taken by the market players to increase their revenue share by attracting new end-users and enhance the rapport with the existing customers through better technological solutions.
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- Catalyst Market - The global catalyst market size was valued at USD 33.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2020 to 2027.
- Agrochemicals Market - The global agrochemicals market size was valued at USD 218.5 billion in 2020 and is anticipated to grow at a compound annual growth rate (CAGR) of 2.8% from 2021 to 2028.
Europe Homogeneous Precious Metal Catalyst Industry Segmentation
Grand View Research has segmented the Europe homogeneous precious metal catalyst market on the basis of product, end-use, and country:
Europe Homogeneous Precious Metal Catalyst Product Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
- Platinum
- Palladium
- Rhodium
- Ruthenium
- Iridium
- Gold
- Others
Europe Homogeneous Precious Metal Catalyst End-use Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
- Pharmaceutical & Biomedical
- Refineries
- Agrochemicals
- Fine Chemicals
- Electrochemical
- Power Generation
- Other Industrial
Europe Homogeneous Precious Metal Catalyst Country Outlook (Revenue, USD Million, 2017 - 2028)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Poland
Market Share Insights:
- June 2022: BASF announced the construction of a large-scale battery recycling black matter facility in Schwarzheide, Germany.
- June 2022: Evonik invests $220 million in a new triglyceride manufacturing plant for mRNA-based medicines in the United States, in collaboration with the US government.
Key Companies profiled:
Some prominent players in the Europe Homogeneous Precious Metal Catalyst Industry include
- Alfa Aesar
- Heraeus Holding
- BASF SE
- Evonik Industries AG
- Johnson Matthey
- Clariant AG
- Haldor Topsoe
- Umicore
- American Elements
- Chimet S.p.A.
- Shaanxi Kai Da Chemical Engineering Co., Ltd.
- Sabin Metal Corp.
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