Platinum And Palladium Carbon Catalyst Market Research 2022-2030
The 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).
The Platinum and Palladium Carbon Catalyst Market Share is expected to witness healthy growth during the forecast period on the account of rapid industrialization, rising demand for chemicals, increasing expenditure on research activities, and demand in the automotive industry. Platinum on carbon and palladium on carbon is used for catalytic hydrogenations in organic synthesis.
Competitive Analysis
Some of the key players operating in the global platinum- and palladium-carbon catalyst market are Evonik Industries AG (Germany), Johnson Matthey (UK), Clariant AG (Switzerland), Vineeth Precious Catalysts Pvt. Ltd (India), BASF AG (Germany), Sabin Metal Corporation (US), American Elements (US), Chimet S.p.A. (Italy), FUJIFILM Wako Pure Chemical Corporation (Japan), KaiDa Chemicals (China), Alfa Aesar (US), Heraeus Group (UK), Shaanxi Kaida Chemical Engineering Co., Ltd (China), Umicore N.V. (Belgium), and Shanxi Kaida Chemical (China), among others.
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Segment Analysis
Based on metal, the global platinum- and palladium-carbon catalyst market has been segmented into platinum-carbon catalyst and palladium-carbon catalyst. The platinum-carbon catalyst segment accounted for the largest share of the global market in 2021.
The segment is expected to witness healthy growth during the forecast period, owing to the high demand in the automotive and chemical industries, due to its relatively low cost. The increasing RD investment in the platinum catalyst and palladium catalyst to reduce the precious metal content in the catalyst while enhancing the performance and reducing the operating cost is driving the market growth. Most of the liquid phase batch hydrogenations are performed with 5% palladium on carbon paste. While 50% platinum on carbon paste is generally used for polymer electrolyte fuel cell (PEMFC), microbial fuel cell (MFC), direct methanol fuel cell (DMFC), and phosphoric acid fuel cell (PAFC) applications.
By end-use industry, the global platinum- and palladium-carbon catalyst market has been divided into automotive, chemical, aerospace, pharmaceutical, and others.
Regional Analysis
The global platinum- and palladium-carbon catalyst market research, by region, has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. Asia-Pacific led by India, China, and Japan is expected to dominate the global platinum- and palladium-carbon catalyst market through the forecast period.
Backed by the expanding automotive and chemical industries, the demand for platinum- and palladium-carbon catalysts is expected to increase significantly during the forecast period. Europe was the second-largest market for platinum- and palladium-carbon catalysts in 2021 and is expected to showcase moderate growth during the forecast period owing to increasing automotive production led by Germany, France, the UK, Italy, and Russia.
The North American market is expected to be another prominent market for platinum- and palladium-carbon catalysts owing to the increasing demand in the chemical, petrochemical, and automotive industries. The Middle East Africa is expected to witness moderate growth backed by increasing investments in chemical and petrochemical industries, particularly in the Middle East.
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