Platinum and Palladium Carbon Catalyst Market Research Report - Global Forecast Till 2030

Platinum and Palladium Carbon Catalyst Market: Information by Metal (Platinum Carbon Catalyst and Palladium-Carbon Catalyst), End-Use Industry (Automotive, Chemicals, Aerospace, Pharmaceuticals and others) and Region (North America, Europe, Latin America, Asia-Pacific and Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/6591-HCR | February 2023 | Region: Global | 140 Pages         

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Platinum and Palladium Carbon Catalyst Market

Platinum and Palladium Carbon Catalyst Market is projected to be worth USD 589.9 million by 2030, registering a CAGR of 3.8% during the forecast period (2022 - 2027).

Segmentation
By Metal Platinum Carbon Catalyst Palladium-Carbon Catalyst
By End User utomotive Chemicals Aerospace Pharmaceuticals others
Key Players
Companies Profiled   Evonik Industries AG (Germany)    BASF AG (Germany)    Clariant AG (Switzerland)    Vineeth Precious Catalysts Pvt. Ltd (India)    Sabin Metal Corporation (US)    FUJIFILM Wako Pure Chemical Corporation (Japan)    American Elements (US)    Chimet S.p.A. (Italy)    Heraeus Group (UK)    Alfa Aesar (US)    Shaanxi Kaida Chemical Engineering Co.    Ltd (China)    Shanxi Kaida Chemical (China)    KaiDa Chemicals (China)
Drivers
Market Driving Forces   Increasing environmental concerns and stringent emission regulations
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Market Overview


The global platinum and palladium carbon catalyst market is estimated to reach over USD 540 million by the end of 2024, expanding at a CAGR of 4.0% during the forecast period.


Platinum- and palladium-carbon catalysts are extensively used in the chemical and pharmaceutical manufacturing industries as hydrogenation catalysts for a wide variety of organic synthesis and coupling reactions. Platinum catalyst and palladium catalyst are supported on charcoal or activated carbon to optimize the surface area and activity. Platinum- and palladium-carbon catalyst are often referred to as platinum on carbon (Pt/C) and palladium on carbon (Pd/C). These catalysts find application in the chemical, pharmaceutical, automotive, petrochemical, and electronic industries as they enhance the performance during chemical processing and organic synthesis. The performance of platinum- and palladium-carbon catalyst can be described based on mesh size, noble metal content, and purity of carbon, among others. Moreover, the activity of platinum and palladium on carbon is highly susceptible to the method chosen to introduce palladium/platinum into the structure and to absorb it on the surface of the charcoal particles.


The platinum catalyst is widely used in the automobile exhaust system to reduce the emission of volatile organic compounds, oxides of sulfur and nitrogen, and other pollutants. Palladium catalyst is widely used in the industrial organic industry and reactions, including carbon-carbon multiple bond reduction, reduction of nitro and nitroso compounds, aromatic ring saturation, reductive aminations/alkylation, and hydrogenolysis.


The positive outlook of the automotive industry and efforts made by automakers to reduce the emission and carbon footprint owing to increasing environmental concerns and stringent emission regulations are expected to drive the growth of the global platinum carbon catalyst market during the forecast period. The market growth is also influenced by the surging demand for hydrogen fuel cell vehicles, particularly in Europe, the US, and Japan. Furthermore, the growing chemical and pharmaceutical industries in the developing economies such as India, China, Brazil, and ASEAN countries is also expected to fuel the growth of the global market. By metal type, platinum carbon catalyst segment is expected to dominate the global market and witness healthy growth owing to its lower price as compared to palladium.


However, the high cost of platinum and palladium, and the availability of substitute products are expected restrain the growth of the global market during the forecast period.  


Key Players


Some of the key players operating in the global platinum- and palladium-carbon catalyst market are Johnson Matthey (UK), Evonik Industries AG (Germany), BASF AG (Germany), Clariant AG (Switzerland), Vineeth Precious Catalysts Pvt. Ltd (India), Sabin Metal Corporation (US), FUJIFILM Wako Pure Chemical Corporation (Japan), American Elements (US), Chimet S.p.A. (Italy), Heraeus Group (UK), Alfa Aesar (US), Shaanxi Kaida Chemical Engineering Co., Ltd (China), Shanxi Kaida Chemical (China), KaiDa Chemicals (China), and Umicore N.V. (Belgium).


Global Platinum and Palladium Carbon Catalyst Market Share, By End-Use Industry, 2018 (%)  Platinum and Palladium Carbon Catalyst Market_Image


Source: MRFR Analysis


Regional Analysis


The global platinum- and palladium-carbon catalyst market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Asia-Pacific dominated the global platinum- and palladium-carbon catalyst market in 2018 and is expected to witness significant growth during the forecast period, on the account of robust chemical, pharmaceutical and automobile manufacturing outlook in the region, particularly in India, China, and ASEAN countries. China is expected to witness healthy growth in terms of demand for platinum catalyst and palladium catalyst, owing to the growth of the automotive and chemical industries in the country. Moreover, initiatives by the governments to support the growth of domestic manufacturing index is expected to drive the growth of the platinum- and palladium-carbon catalyst market in India.


North America and Europe are expected to be prominent markets for platinum- and palladium-carbon catalyst, owing to the recovering automotive industry with increasing demand for electric vehicles. Latin America is expected to be an opportunistic market and witness healthy growth owing to recovering economics and expanding automotive and chemical industries in Brazil and Mexico. The Middle East & Africa is projected to witness relatively moderate growth in the global platinum- and palladium-carbon catalyst market during the forecast period.


Segmentation Analysis


The global market has been segmented based on metal, end-use industry, and region.


On the basis of metal, the global platinum- and palladium-carbon catalyst market has been categorized into platinum-carbon catalyst and palladium-carbon catalyst.


By end-use industry, the global platinum- and palladium-carbon catalyst market has been divided into automotive, chemicals, aerospace, pharmaceuticals, and others.


The global platinum- and palladium-carbon catalyst market, by region, has been segregated into North America, Latin America, the Middle East & Africa, Europe, and Asia-Pacific.


Target Audience



  • Manufacturers of platinum- and palladium-carbon catalyst

  • Traders and distributors of platinum- and palladium-carbon catalyst

  • Research/education institutes

  • Industry associations

  • Potential investors



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2022: USD 540 million
  • 2030 : Significant Value
  •   CAGR

  • 4.0% (2018-2024)
  • 2030 : Substantial Value
  •   Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units    Value (USD Million)
      Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   metal, end-use industry, and region
      Geographies Covered    Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa
      Key Vendors    Johnson Matthey (UK), Evonik Industries AG (Germany), BASF AG (Germany), Clariant AG (Switzerland), Vineeth Precious Catalysts Pvt. Ltd (India), Sabin Metal Corporation (US), FUJIFILM Wako Pure Chemical Corporation (Japan), American Elements (US), Chimet S.p.A. (Italy), Heraeus Group (UK), Alfa Aesar (US), Shaanxi Kaida Chemical Engineering Co., Ltd (China), Shanxi Kaida Chemical (China), KaiDa Chemicals (China), and Umicore N.V. (Belgium).
      Key Market Opportunities   The market growth is also influenced by the surging demand for hydrogen fuel cell vehicles
      Key Market Drivers   Increasing environmental concerns and stringent emission regulations


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    Frequently Asked Questions (FAQ) :

    Platinum and Palladium Carbon Catalyst Market is predicted to grow at 4% through forecast period of 2020-2027.

    The forecast period for Platinum and Palladium Carbon Catalyst Market research report is 2020-2027.

    Platinum and Palladium Carbon Catalyst Market is dominated by APAC region.

    Increasing environmental concerns and stringent emission regulations

    Johnson Matthey (UK), Evonik Industries AG (Germany), BASF AG (Germany), Clariant AG (Switzerland), Vineeth Precious Catalysts Pvt. Ltd (India), Sabin Metal Corporation (US), FUJIFILM Wako Pure Chemical Corporation (Japan), American Elements (US), Chimet S.p.A. (Italy), Heraeus Group (UK), Alfa Aesar (US), Shaanxi Kaida Chemical Engineering Co., Ltd (China), Shanxi Kaida Chemical (China), KaiDa Chemicals (China), and Umicore N.V. (Belgium).