Homogeneous Catalyst Market Size, Share & Trends Analysis growing at rate (CAGR) of 4.9% from 2023 to 2030

The global homogeneous catalyst market size was valued at USD 8.42 billion in 2022 and is projected to reach USD 12.37 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. This is attributed to the advancing use of the product in variety of chemical reactions across different end use industries for yield improvement, optimization, cost reduction, and energy conservation.

Key Market Trends & Insights

• Asia Pacific dominated the market with a revenue share of 33.2% in 2022.
• North America is another region anticipated to witness growth over the forecast period.
• Based on type, the metal-based type segment dominated the homogeneous catalyst industry with a revenue share of over 53% in 2022.
• In terms of application, the environmental application segment dominated the market with a revenue share of 33.3% in 2022.
• Based on application, chemical synthesis is another segment anticipated to witness growth over the forecast period.

Market Size & Forecast

• 2022 Market Size: USD 8.42 billion
• 2030 Projected Market Size: USD 12.37 billion
• CAGR (2023-2030): 4.9%
• Asia Pacific: Largest market in 2022

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Their ability to provide better performance in industrial and organic reactions as compared to their heterogeneous alternatives is another factor anticipated to drive the demand for the product over the forecast period. However, these catalytic reactions create huge amounts of toxic waste, causing environmental hazards. This has led to increase in production of biodegradable homogeneous catalysts such as methane sulfonic acid (MSA) to cater to the demand. Homogeneous catalysts are compounds that are used to accelerate chemical reactions by reducing the activation energy required to initiate a reaction. They are majorly used for the esterification of carboxylic acids, which is likely to create a stable demand for the product. In addition, the growing popularity of organometallic compounds for the production of polyethylene and polypropylene is further expected to fuel their demand in the near future.

Enzymes and biocatalysts, which are some popular types of homogeneous catalysts, are being increasingly deployed in the food & beverage and pharmaceutical industries on account of their longer shelf life and eco-friendly nature. Thus, all these factors are anticipated to contribute to the product demand over the forecast period.

The U.S. is a major consumer of the product in North America with revenue share of 80.5% in 2022. This growth is attributed to the expanding end-use industries, including chemical, refinery, and petrochemical. According to the American Chemistry Council, the chemical trade in the U.S. witnessed a growth of around 22.0%, accounting to USD 342.0 billion in 2022. Moreover, the growing gasoline demand in the U.S. is anticipated to contribute to the significance of hydrocracking and FCC (Fluid Catalytic Cracking) activities intended for transforming heavy crude oil to light cuts, thereafter, influencing the overall catalyst market on a positive note.

Homogeneous Catalyst Market Report Scope