Inorganic Catalyst Market Size, Share & Trends Analysis growing at a CAGR of 3.3% from 2022 to 2030

The global inorganic catalyst market size was valued at USD 25.50 billion in 2021 and is expected to expand at a CAGR of 3.3% from 2022 to 2030. Inorganic catalysts are also used in the form of vanadium oxide to produce sulfuric acid. Growing production of sulfuric acid on account of its increasing demand in oil refining, wastewater processing, and chemical synthesis is expected to fuel the growth. They are used in transesterification of palm oil with methanol into biodiesel, production of ethyl acetate from ethanol and acetic acid, dehydration of D-xylose into furfural, and cellulose hydrolysis among various other applications. Its benefits include simple separation of catalyst from products, economical usage, and ease of application among others. Further, gaining acceptance of inorganic catalysts over their organic counterparts for biodiesel production is likely to accelerate the industry growth during the forecast period.

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Growing demand for petroleum and petrochemical products is expected to result in increased product demand as they are an important component in the former’s synthesis. Increasing demand for energy coupled with the growing emphasis on green technologies has constituted catalysts in playing an exquisite role in petroleum refining operations.

Growing production of ammonia for fertilizers (where the iron-based heterogeneous catalyst is used extensively), on account of new product development such as nitrogenous fertilizers, coupled with agriculture industry growth in India and China is expected to fuel the demand for heterogeneous catalysts in the coming years. Growing emission control regulations worldwide are triggering the need for efficient and environmental conservation sensitive processes with high yield, which has steered the demand for catalysts in different applications in order to improve process efficiency.

In addition, gaining the importance of ammonia as an alternative to CFC compounds in refrigeration applications is expected to augment the growth of the heterogeneous catalyst segment in the forecast period. Moreover, the European Catalyst Manufacturers Association (ECMA) is primarily focused on the development and usage of inorganic catalysts containing metal oxides and metals based on nickel, chromium, copper, cobalt, titanium, and molybdenum. These metals are employed in a wide range of industrial applications including refinery operations, fine chemicals, pharmaceuticals, edible oils, and polymers.

Inorganic Catalyst Market Report Scope