1 Global Hydrogenation Catalysts Market Insight Analysis
The global hydrogenation catalysts market is valued at USD 3,768.74 million in 2024, with a CAGR of 3.5% from 2024 to 2033.
Hydrogenation catalysts are substances that facilitate the addition of hydrogen to unsaturated compounds, typically through double or triple bonds. These catalysts are crucial in industrial processes as they reduce the reaction conditions required, enhance reaction rates, and improve the selectivity of desired products. They are primarily categorized into two types: transition metal-based catalysts and noble metal-based catalysts. Transition metal-based catalysts are widely used due to their cost-effectiveness and versatility, while noble metal-based catalysts offer superior performance in specific applications, albeit at a higher cost.
Figure Global Hydrogenation Catalysts Market Size (M USD) and CAGR (2024-2033)
2 Hydrogenation Catalysts Market Growth Drivers and Restraints
First, the demand for downstream applications is growing. Hydrogenation catalysts are widely used in oil refining, petrochemical and other industries. With the development of the global economy, the demand for related products in these industries continues to increase, which in turn promotes the development of the hydrogenation catalyst market. For example, in the oil refining industry, in order to meet the clean fuel standards, a large number of hydrogenation catalysts are required to produce ultra-low sulfur diesel.
Second, the requirements for product cleanliness have increased. The slowdown in global economic growth and the fluctuation of crude oil prices have deteriorated the quality of crude oil and increased the difficulty of producing clean fuels. However, environmental regulations have continuously increased the requirements for fuel cleanliness, prompting oil refineries to increase investment in hydroprocessing units to produce low-sulfur gasoline and diesel, thereby stimulating the demand for hydrogenation catalysts.
Third, it is driven by technological progress. In the manufacturing process of hydrogenation reactions, technological progress has promoted the growth of revenue in the heterogeneous catalyst market. For example, better use of metal surfaces and breakthroughs in research on selectivity issues have released the functional advantages of new hydrogenation catalysts, improved catalyst performance, and promoted market development.
On the one hand, environmental factors are restrictive. Pollutants such as waste gas, wastewater, solid waste and noise are generated during the production and use of hydrogenation catalysts. With the increase of environmental awareness and the improvement of environmental standards, enterprises need to increase environmental investment, which increases operating costs and may affect profit levels. If the environmental protection of enterprises does not meet the standards, they may also face administrative penalties and the risk of suspension of production and rectification, which will restrict the development of the industry.
On the other hand, the industry barriers are high. The hydrogenation catalyst industry involves multidisciplinary intersections. The development of new products requires understanding of downstream customers and industry trends, and has high requirements for professional talents.
The research and development process requires a lot of basic research, intermediate production tests and industrial amplification, and requires large technical and financial investment. In addition, downstream customers have high requirements for catalyst performance, strict screening when selecting suppliers, and high customer loyalty. New entrants face high market entry barriers, which hinders full competition in the industry and the development of new enterprises.
3 Technological Innovations in the Hydrogenation Catalysts Market
The research and development focuses on high-performance catalysts with low metal content. Given that transition metals and precious metals commonly used in hydrogenation catalysts are non-renewable resources, global resources are limited, and prices are on the rise, reducing the amount of metals while ensuring efficiency and high performance has become a research hotspot. For example, BASF announced innovations in its selective hydrogenation catalyst series. The new palladium alumina catalyst has higher activity and tolerance to sulfur impurities, and the new PTA catalyst CBA-250 has significantly reduced palladium content.
With the development of modern science and new characterization techniques, computational chemistry, artificial intelligence, high-throughput screening and other technologies, catalyst preparation technology is moving towards the direction of design synthesis science, and is expected to further improve catalyst performance in the future.
At the same time, the trend of customization and specialization is prominent. Due to the large differences in processes and operations of different refining, petrochemical and oil hydrogenation companies, high requirements for catalyst matching are required, prompting companies to provide more targeted products. This requires companies to have rich technical experience and in-depth understanding of production processes, and puts higher requirements on the quality of technical personnel.
Enterprises optimize resource allocation, expand business areas and enhance market competitiveness through mergers and acquisitions. For example, in November 2020, Evonik completed the acquisition of Porocel Group for US$210 million. Porocel’s business in desulfurization catalyst regeneration, sulfur recovery catalysts and alumina-based purification adsorbents has expanded Evonik’s catalyst product portfolio. In August 2019, Shell Catalysts & Technologies plans to invest US$34.5 million in its Michigan City plant over the next three years to improve production capacity and technology.
In March 2021, Clariant opened a new catalyst R&D center in Shanghai to strengthen its R&D capabilities in China, and signed a cooperation agreement with GMR to expand the application of recycled metals in catalyst production. These corporate activities help companies integrate resources, enhance technical strength, expand market share, occupy a more advantageous position in the highly competitive market, and promote the integration and development of the industry.
4 Global Hydrogenation Catalysts Market Size by Type
Transition Metal Based Catalysts are the dominant segment in the hydrogenation catalysts market. These catalysts are widely used due to their cost-effectiveness and versatility in various industrial applications. In 2024, the market revenue for Transition Metal Based Catalysts is forecasted to reach $2,741.76 million USD. This segment is expected to continue growing steadily, driven by the increasing demand for high-performance catalysts in refining and petrochemical processes. Transition Metal Based Catalysts are particularly effective in processes that require high activity and stability under harsh conditions, making them a preferred choice for many industrial applications.
Noble Metal Based Catalysts represent a smaller but highly specialized segment of the hydrogenation catalysts market. These catalysts are known for their superior performance, high selectivity, and resistance to harsh operating conditions. In 2024, the market revenue for Noble Metal Based Catalysts is projected to be $721.71 million USD. The growth in this segment is driven by the increasing demand for high-purity products and the need for catalysts that can operate under stringent conditions. Noble Metal Based Catalysts are particularly valuable in applications where high selectivity and low impurity levels are critical, such as in the production of specialty chemicals and high-grade fuels.
Table Global Hydrogenation Catalysts Market Size by Type in 2024
Type | Market Size (M USD) 2024 |
|---|---|
Transition Metal Based Catalysts | 2741.76 |
Noble Metal Based Catalyst | 721.71 |
Others | 305.27 |
5 Global Hydrogenation Catalysts Market Size by Application
The global hydrogenation catalysts market, when segmented by application, exhibits diverse trends and market sizes. In 2024, the refining sector remains a major consumer of hydrogenation catalysts. According to the data, the volume of hydrogenation catalysts consumed in refining is projected to reach 77,851.53 tons. This significant demand is driven by the continuous need to upgrade inferior petroleum fractions into high – quality fuels. As environmental regulations worldwide become stricter, refineries are under pressure to produce cleaner fuels with lower sulfur and other impurities. Hydrogenation catalysts play a crucial role in this process, enabling the removal of sulfur, nitrogen, and other contaminants from refinery feedstocks.
The petrochemicals application is also a key segment in the hydrogenation catalysts market. In 2024, the consumption of hydrogenation catalysts in petrochemicals is expected to be 21,733.76 tons. In the petrochemical industry, hydrogenation catalysts are used to convert unsaturated compounds into saturated derivatives. This is essential for the production of various petrochemical products such as plastics, synthetic fibers, and rubber. The growth in this application is closely related to the expansion of the petrochemical industry, which is driven by the increasing demand for consumer goods and industrial products.
For the oil & fat hydrogenation application, the market volume of hydrogenation catalysts in 2024 is estimated to be 15,217.33 tons. Hydrogenation catalysts are used to convert liquid oil into solid or semi – solid fat, enhancing its effectiveness and flavor stability. This application is important in the food industry, especially in the production of margarine, shortenings, and other processed foods. The demand for these products in the global market, along with the growing focus on food quality and shelf – life, contributes to the consumption of hydrogenation catalysts in this area.
Table Global Hydrogenation Catalysts Market Size by Application in 2024
Application | Market Size (Tons) 2024 |
|---|---|
Refining | 77851.53 |
Petrochemicals | 21733.76 |
Oil & Fat Hydrogenation | 15217.33 |
Others | 8614.52 |
6 Global Hydrogenation Catalysts Market Size by Region
North America: In 2024, the North American hydrogenation catalysts market is expected to have a market value of $1,256.31 million. The United States, as the largest economy in the region, plays a dominant role. The market in North America has been influenced by factors such as the large – scale refining and petrochemical industries.
The presence of advanced technological capabilities and a well – developed industrial infrastructure has contributed to the growth of the hydrogenation catalysts market. However, the region also faces challenges such as the impact of economic fluctuations and the need to comply with strict environmental regulations. For example, during the COVID – 19 pandemic, the North American market was affected by lockdown measures, which led to a slowdown in industrial activities. But with the economic recovery and the continuous demand for clean energy and high – quality fuels, the market is expected to grow steadily.
Europe: The European market is projected to reach a market value of $926.41 million in 2024. Europe has a long – standing and sophisticated chemical industry, with countries like Germany, the UK, and France being major players. The region’s focus on sustainability and environmental protection has driven the demand for hydrogenation catalysts in applications that support cleaner production processes. For instance, the push for low – sulfur fuels and the development of bio – based chemicals has increased the need for hydrogenation catalysts. However, the European market also faces competition from emerging economies and the need to continuously invest in research and development to maintain its technological edge.
Asia Pacific: Asia Pacific is expected to have a market value of $1,107.36 million in 2024. This region has witnessed rapid industrialization in recent years, especially in countries like China and India. China, in particular, has a large and growing refining and petrochemical industry. The increasing demand for energy and the expansion of manufacturing sectors in the Asia Pacific have led to a significant increase in the consumption of hydrogenation catalysts. The region also benefits from lower production costs in some areas, which attracts investment in the catalyst manufacturing industry. However, challenges such as environmental pollution concerns and the need to balance growth with sustainable development still exist.
Middle East & Africa: The Middle East & Africa market is forecasted to reach a market value of $372.37 million in 2024. The Middle East is rich in oil resources, and its refining and petrochemical industries are major consumers of hydrogenation catalysts. Countries like Saudi Arabia and the UAE have large – scale oil – related industries. However, the region has been affected by geopolitical issues and the recent fluctuations in oil prices. The impact of the COVID – 19 pandemic on the region’s economy has also had an impact on the hydrogenation catalysts market. Despite these challenges, the long – term development of the region’s energy – related industries still provides opportunities for the growth of the hydrogenation catalysts market.
South America: The South American market is expected to have a market value of $106.29 million in 2024. Brazil, as the largest economy in the region, has a significant influence on the market. The region’s agricultural and petrochemical industries contribute to the demand for hydrogenation catalysts. For example, in the oil & fat hydrogenation related to the food industry and in some petrochemical processes. However, South America also faces economic instability and challenges in infrastructure development, which may limit the growth rate of the hydrogenation catalysts market to some extent.
Figure Global Hydrogenation Catalysts Market Size (M USD) by Region in 2024
7 Global Hydrogenation Catalysts Market Analysis by Major Players
7.1 Shell (Criterion)
Company Introduction and Business Overview:
Shell (Criterion) is a leading provider of catalysts and associated services, with a strong presence in the refining and petrochemical industries. Established in 1907, the company operates globally and is headquartered in The Hague, Netherlands. Shell (Criterion) is renowned for its innovative and high-performance catalyst solutions.
Shell (Criterion) specializes in supplying catalysts for hydrogenation, oxidation, dehydrogenation, and environmental applications. The company’s products are used extensively in the refining and petrochemical sectors, helping clients achieve higher efficiency and sustainability in their operations.
Products:
Shell (Criterion) offers a wide range of hydrogenation catalysts, including CENTERA GT® DN-3638 and CENTERA GT® DC-2638, which are designed for high-severity ULSD applications. These catalysts are known for their exceptional hydrogenation activity and stability, making them ideal for maximizing hydrogen consumption and volume swell.
Market Performance in 2020:
In 2020, Shell (Criterion) reported a revenue of $533.60 million USD with a gross margin of 26.68%.
7.2 Albemarle
Company Introduction and Business Overview:
Albemarle is a global leader in the production of catalyst solutions and performance chemicals. Established in 1887, the company is headquartered in Charlotte, North Carolina, USA. Albemarle’s products are used across various industries, including pharmaceuticals, water treatment, and refining.
Albemarle offers a diverse range of catalysts and performance chemicals, catering to the needs of refineries, petrochemical plants, and other industrial sectors. The company is known for its innovative solutions and commitment to sustainability.
Products:
Albemarle’s hydrogenation catalysts include the KF 771 STARS® and KF 880 STARS®, which are designed for ultra-low sulfur diesel (ULSD) applications. These catalysts provide high desulfurization activity and excellent stability, making them suitable for processing cracked feedstocks.
Market Performance in 2020:
In 2020, Albemarle reported a revenue of $319.17 million USD with a gross margin of 24.77%.
7.3 Grace (ART)
Company Introduction and Business Overview:
Grace (ART) is a leading manufacturer and distributor of chemical preparations, with a focus on catalysts for the refining industry. Established in 1854, the company is headquartered in Columbia, Maryland, USA. Grace (ART) is known for its innovative and high-performance catalyst solutions.
Grace (ART) specializes in providing catalysts for hydrotreating applications, including fixed-bed and on-stream catalyst replacement systems. The company’s products are designed to enhance the efficiency and effectiveness of refining processes, helping clients meet stringent environmental regulations.
Products:
Grace (ART) offers a range of hydrogenation catalysts, including the ICR® and HOP® catalyst systems for resid desulfurization. These catalysts are designed to provide high sulfur removal activity and excellent stability, making them suitable for challenging refining operations.
Market Performance in 2020:
In 2020, Grace (ART) reported a revenue of $262.35 million USD with a gross margin of 25.30%.