1 Global DeNOx Catalyst Market Size (Revenue) and CAGR (2024-2033)
Global DeNOx Catalyst market generated revenue of USD 4143.47 Million in 2024 with a CAGR of 2.97% during 2024 to 2033.
The DeNOx catalyst market is poised for continued growth, driven by the increasing demand for effective emission control solutions and advancements in technology. However, it must navigate challenges related to competition and regulatory compliance to fully capitalize on the opportunities presented by the expanding global economy and environmental concerns.
Figure Global DeNOx Catalyst Market Size (M USD) Outlook (2024-2033)
2 DeNOx Catalyst Market Opportunities
Table Key Opportunities
Description | |
Development of the technology | Innovation in the denitrification technologies, in past few years, has been a crucial factor in increasing the demand for DeNOx catalysts. Many companies have developed new techniques that can simultaneously reduce NOx, oxidizes CO and minimizes other pollutants too. These techniques are anticipated to boost the growth of the market. For instance, Cormetech, a leader in manufacturing high-quality SCR and environmental catalysts, in 2020 announced the success of its DustBuster™ SCR catalyst which has witnessed a rising demand as utilities worldwide recognize the benefits of DustBuster™ and are seeking improvement of their coal-fired generation SCR performance to meet new environmental emission standards in a cost effective manner. All in all, the development of the technology will drive consumption, which is beneficial to the development of the industry |
Increasing awareness | The overall market is growing, driven by the stringent regulations in developed countries and rising demand in the emerging economies. The growth will also be fuelled by increasing number of investments in the end-user industry sectors such as thermal power plants, cement, metal processing units, paper and pulp, etc. Furthermore, the growth of the market largely depends upon the industries that emit out NOx. Social and political concerns about global warming and increasing awareness about sustainable development are driving the demand for denox catalysts. Increasing usage of vehicles, industrial growth, technology advancements, and strengthened regulations for emission control are anticipated to fuel the denox catalysts market. Additionally, many crematoriums are also considering the addition of DeNOx equipment to their facilities. For instance, in the UK, 78% deaths resulted in cremation. The process can add significant amount of NOx to the environment and crematorium owners are of the opinion that addition of DeNOx equipment to crematoriums should be made the law, a view that can add considerable drive to the DeNOx catalyst market in the coming years. |
3 Global DeNOx Catalyst Market by Type in 2024
The global DeNOx catalyst market in 2024 was characterized by two primary product types: honeycomb type and flat type. Each type has distinct features and applications, influencing their market size and share.
Honeycomb Type DeNOx Catalyst
The honeycomb type DeNOx catalyst is a widely used product due to its unique structure and performance characteristics. It is designed with a honeycomb-like arrangement of channels, which provides a large surface area for the catalyst to interact with the exhaust gases. This design allows for efficient NOx reduction at relatively low pressure drops, making it suitable for applications where space is limited and high flow rates are required.
In 2024, the honeycomb type DeNOx catalyst accounted for a significant portion of the market, with a revenue of 2,831.32 million USD. This product type held the largest market share, representing approximately 68.33% of the total DeNOx catalyst market. Its dominance can be attributed to its versatility and effectiveness in various industries, including power plants, cement plants, and transportation vehicles. The honeycomb catalyst’s ability to handle high gas volumes and maintain high NOx reduction efficiency at different operating conditions has made it a preferred choice for many industrial applications.
Flat Type DeNOx Catalyst
The flat type DeNOx catalyst, on the other hand, features a planar structure and is typically used in applications where a simpler design is required. It is often employed in smaller-scale operations or in systems where the space available for catalyst installation is not a constraint. The flat type catalyst is known for its ease of installation and maintenance, making it a cost-effective option for certain industries.
In 2024, the flat type DeNOx catalyst generated a revenue of 1,312.15 million USD, accounting for 31.67% of the total market share. While it did not hold the largest market share, the flat type catalyst experienced a notable growth rate due to its increasing adoption in emerging markets and niche applications. Its simplicity and cost-effectiveness have made it an attractive option for industries looking to implement effective NOx reduction solutions without incurring high installation and operational costs.
When comparing the two product types, the honeycomb type DeNOx catalyst clearly had the largest market share in 2024, owing to its extensive use in major industrial sectors. However, the flat type DeNOx catalyst demonstrated a faster growth rate, driven by its increasing adoption in emerging markets and its suitability for a variety of applications. The flat type catalyst’s growth can be attributed to its cost advantages and the expanding industrial activities in developing regions, where there is a growing need for efficient and affordable NOx reduction technologies.
Table Global DeNOx Catalyst Market Size and Share by Type in 2024
Type | Market Size (M USD) | Market Share |
|---|---|---|
Honeycomb | 2,831.32 | 68.33% |
Flat | 1,312.15 | 31.67% |
4 Global DeNOx Catalyst Market by Application in 2024
The DeNOx catalyst market in 2024 was driven by various applications, each with its unique requirements and contributions to the overall market size and share. The primary applications include power plants, cement plants, refineries/chemical plants, steel plants, transportation vehicles, and others.
Power Plants
Power plants, particularly those fueled by coal, oil, and gas, are significant contributors to NOx emissions. The DeNOx catalyst plays a crucial role in reducing these emissions, thereby improving air quality and complying with stringent environmental regulations. In 2024, power plants accounted for the largest market share, with a revenue of 1,368.63 million USD, representing 33.03% of the total DeNOx catalyst market. The substantial share can be attributed to the large number of power plants globally and the critical need for effective NOx reduction technologies to meet regulatory standards and reduce environmental impact.
Cement Plants
Cement production is another major source of NOx emissions due to the high temperatures and chemical reactions involved in the process. The DeNOx catalyst helps cement plants reduce emissions and improve their environmental performance. In 2024, cement plants contributed a revenue of 310.67 million USD, accounting for 7.50% of the market share. The use of DeNOx catalysts in cement plants is essential for achieving sustainable production and adhering to increasingly strict emission limits.
Refineries/Chemical Plants
Refineries and chemical plants also require effective NOx reduction solutions due to the complex chemical processes involved. The DeNOx catalyst is used to treat emissions from various processes, ensuring compliance with environmental regulations and reducing the impact on air quality. In 2024, refineries and chemical plants generated a revenue of 762.60 million USD, representing 18.40% of the market share. The growth in this segment is driven by the expansion of the chemical industry and the need for advanced emission control technologies.
Steel Plants
Steel production involves high-temperature processes that result in significant NOx emissions. The DeNOx catalyst is essential for reducing these emissions and improving the environmental performance of steel plants. In 2024, steel plants contributed a revenue of 295.18 million USD, accounting for 7.12% of the market share. The adoption of DeNOx catalysts in the steel industry is driven by the need to meet regulatory requirements and enhance operational efficiency.
Transportation Vehicles
The transportation sector, including commercial vehicles and off-road equipment, is a significant contributor to NOx emissions. The DeNOx catalyst is used in exhaust systems to reduce emissions and comply with emission standards. In 2024, transportation vehicles generated a revenue of 652.52 million USD, representing 15.75% of the market share. The growth in this segment is fueled by the increasing demand for cleaner vehicles and the implementation of stricter emission regulations.
Among the various applications, power plants had the largest market share in 2024, driven by their extensive use of DeNOx catalysts to meet regulatory requirements and reduce environmental impact. However, the transportation sector showed the fastest growth rate, reflecting the increasing demand for cleaner vehicles and the adoption of advanced emission control technologies in the automotive industry. The growth in the transportation sector is also influenced by the expansion of commercial fleets and the need to comply with stricter emission standards globally.
Table Global DeNOx Catalyst Market Size and Share by Application in 2024
Application | Market Size (M USD) | Market Share |
|---|---|---|
Power Plant | 1,368.63 | 33.03% |
Cement Plant | 310.67 | 7.50% |
Refinery/Chemical | 762.60 | 18.40% |
Steel Plant | 295.18 | 7.12% |
Transportation | 652.52 | 15.75% |
Others | 753.87 | 18.19% |
5 Global DeNOx Catalyst Market by Region in 2024
The global DeNOx catalyst market in 2024 was characterized by significant regional variations in terms of market size and growth rates. The major regions analyzed include North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Each region contributed differently to the overall market dynamics, influenced by factors such as industrial development, environmental regulations, and technological advancements.
North America
North America, comprising primarily the United States and Canada, had a substantial share of the DeNOx catalyst market in 2024. The region’s revenue reached 733.59 million USD, accounting for approximately 17.70% of the global market. The growth in this region was driven by stringent environmental regulations and the need for advanced emission control technologies in industries such as power generation and transportation. The United States, in particular, played a pivotal role due to its large industrial base and focus on reducing NOx emissions to improve air quality. The region’s market was also supported by ongoing investments in upgrading existing facilities and adopting new technologies to meet regulatory standards.
Europe
Europe was another significant contributor to the DeNOx catalyst market in 2024, with a revenue of 718.33 million USD, representing 17.33% of the global market. The region’s market was primarily driven by the European Union’s strict environmental policies and directives aimed at reducing industrial emissions. Countries such as Germany, France, and the United Kingdom were at the forefront, with numerous power plants, cement factories, and chemical plants investing in DeNOx catalysts to comply with regulations. The European market also benefited from the region’s strong industrial base and commitment to sustainable development, leading to continuous demand for efficient emission control solutions.
Asia-Pacific
The Asia-Pacific region emerged as the largest market for DeNOx catalysts in 2024, with a revenue of 2,398.26 million USD, accounting for 57.87% of the global market. This dominance can be attributed to the rapid industrialization and economic growth in countries such as China, Japan, and South Korea. The increasing number of power plants, cement plants, and chemical facilities in these countries necessitated the adoption of advanced DeNOx catalysts to manage emissions effectively. Additionally, the region’s growing awareness of environmental issues and the implementation of stricter regulations further fueled the demand for these catalysts. China, in particular, played a crucial role due to its large industrial sector and focus on reducing pollution.
Latin America
Latin America’s DeNOx catalyst market in 2024 reached 167.98 million USD, representing 4.05% of the global market. While the region’s share was relatively smaller compared to others, it exhibited significant growth potential. The market was driven by the expansion of industrial activities in countries like Mexico and Brazil, where there is a growing need for emission control technologies. The increasing focus on environmental regulations and the adoption of cleaner technologies in sectors such as power generation and transportation contributed to the region’s market growth.
Middle East & Africa
The Middle East & Africa region had a revenue of 125.30 million USD in 2024, accounting for 3.02% of the global DeNOx catalyst market. The region’s market was influenced by the presence of numerous oil and gas facilities, as well as the growing industrial sector. Countries such as Saudi Arabia and the United Arab Emirates were key contributors, with investments in refining and petrochemical plants driving the demand for DeNOx catalysts. The region’s market also benefited from the increasing awareness of environmental issues and the need to comply with international emission standards.
In 2024, the Asia-Pacific region was the largest market by revenue, driven by its rapid industrialization and growing environmental concerns. The region’s significant share of 57.87% highlights its importance in the global DeNOx catalyst market. On the other hand, the Asia-Pacific region also emerged as the fastest-growing region, primarily due to the expanding industrial activities and increasing investments in emission control technologies in countries like China and India. The region’s growth was further supported by the adoption of stricter environmental regulations and the need for sustainable industrial practices.
Table Global DeNOx Catalyst Market Size, Region Wise in 2024
Region | Market Size (M USD) | Market Share |
|---|---|---|
North America | 733.59 | 17.70% |
Europe | 718.33 | 17.33% |
Asia-Pacific | 2,398.26 | 57.87% |
Latin America | 167.98 | 4.05% |
Middle East & Africa | 125.30 | 3.02% |
Figure Global DeNOx Catalyst Revenue Market Share by Region in 2024
6 Global DeNOx Catalyst Market Top 3 Players
Company Introduction and Business Overview: Johnson Matthey is a leading global specialty chemicals company headquartered in the United Kingdom. Founded in 1817, the company has a long history of innovation and expertise in the field of sustainable technologies. Johnson Matthey is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. The company’s primary focus is on developing and manufacturing products that enable cleaner air, improved health, and more efficient use of natural resources.
Products Offered: Johnson Matthey offers a wide range of DeNOx catalyst products, including honeycomb and flat SCR catalysts. Their SINOX® honeycomb SCR and plate SCR catalysts are designed for durability and easy installation, making them suitable for various applications such as power plants, cement plants, and transportation vehicles. The company also provides catalyst management services, ensuring optimal performance and longevity of their products.
Revenue in 2020: In 2020, Johnson Matthey’s revenue from DeNOx catalysts reached 355.43 million USD, reflecting their strong market position and extensive product offerings. The company’s success can be attributed to its continuous innovation and commitment to providing high-quality, efficient solutions to meet the evolving needs of industries worldwide.
Company Introduction and Business Overview: Hitachi Zosen Corporation is a major Japanese industrial and engineering company with a diverse range of products and services. Founded in 1881, the company specializes in waste treatment plants, industrial plants, precision machinery, and steel mill process equipment. Hitachi Zosen is dedicated to achieving sustainable development goals by addressing global and social issues through its core business areas of energy and water.
Products Offered: Hitachi Zosen offers NOx-removal catalysts, including the NOXNON700 product, which is known for its high specific surface area, lightweight and compact design, and low pressure loss. The catalyst is applicable for a wide range of reaction temperatures and fuels, making it suitable for various industrial applications such as power plants, cement plants, and refineries.
Revenue in 2020: In 2020, Hitachi Zosen’s revenue from DeNOx catalysts was 279.98 million USD. The company’s success in the market can be attributed to its reliable and efficient catalyst solutions, which help industries meet stringent emission standards while optimizing operational performance.
Company Introduction and Business Overview: BASF SE is a German multinational chemical company and the largest chemical producer in the world. Founded in 1865, BASF offers a wide range of products for various industries, including automotive, construction, agriculture, and oil. The company is committed to providing innovative solutions that contribute to the success of its customers and the sustainable development of society.
Products Offered: BASF provides DeNOx catalysts for selective catalytic reduction (SCR) systems, which are designed to eliminate nitrogen oxides from stationary source gases without producing any residues. Their catalysts offer extremely low NH₃ slip, no substantial N₂O generation, and low pressure drop, making them an effective and cost-efficient solution for industries such as power plants, refineries, and transportation vehicles.
Revenue in 2020: In 2020, BASF’s revenue from DeNOx catalysts reached 236.56 million USD. The company’s strong market position is driven by its extensive product portfolio, technological expertise, and commitment to delivering high-quality solutions that meet the evolving needs of industries worldwide.
Table Global DeNOx Catalyst Revenue Share of Top3 Players in 2020
Company | 2020 |
Johnson Matthey | 10.58% |
Hitachi Zosen | 8.34% |
BASF | 7.04% |