Introduction
Hydrogenation catalysts
are used in industries that use a main metal along with a promoter
and/or inhibitor. Promoters are additives that enhance the activity,
stability and processability of the metallic hydrogenation catalyst.
Inhibitors or poisons are added to reduce or control the catalytic
activity of the hydrogenation catalyst. Hydrogenation catalysts are
prominently used in the oil & gas industry for hydroprocessing
(hydrotreating and hydrocracking processes) and are prominently metal –
based catalysts.
Based
on form, homogeneous hydrogenation catalysts offer several advantages
over their heterogeneous counterparts. Their higher solubility leads to
the use of each molecule for the hydrogenation reaction and hence, these
catalysts utilize low volumes. In case of heterogeneous hydrogenation
catalysts, only the surface is available for the reaction, which limits
its selectivity. The choice of the base metal in a hydrogenation
catalyst is also quite crucial and the addition of promoters and
inhibitors is mandatory during the manufacturing of a hydrogenation
catalyst.
Hydrogenation Catalyst Market: Dynamics
The
Hydrogenation Catalyst market is a highly consolidated market and there
is high competition among the few market participants who operate in
the market. Hence, research & development investments are estimated
to drive the market due to the introduction of novel products,
manufacturing processes and/or application processes. Hydrogenation
catalysts producers engaged in research & development activities are
also seen to have a competitive edge as they are able to offer
customized products to end users in order to meet their specific
requirements. The regeneration of a catalyst also plays a significant
role in its consumption and hence, the hydrogenation catalyst
manufacturers work closely with end-use industries to gain knowledge
about the processes employed.
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However,
owing to the slowdown in the global financial growth, end-use
industries have suffered and are posing obstacles to the growth of the
hydrogenation catalyst market. The catalysts industry is under strict
scrutiny from the environmental authorities. With the introduction of
“Energy and GHG Reductions in the Chemicals Industry via Catalytic
Processes, 2013”, technology roadmap by ICCA/DECHEMA/IEA, the
introduction of greener hydrogenation catalysts or processes producing
lesser GHGs can be expected in near future.
Several
hydrogenation catalyst producers are adhering to their strategy of
expansion in order to meet the growing market demand. Considering the
market scenario, such activities are not expected to lead to
overcapacities in the production of hydrogenation catalyst, but will
largely impact the growth of the market owing to the increasing demands
for hydrogenation catalysts, prominently in the oil & gas sector.
The manufacturers are supplying engineered products that remain
unaffected by the common impurities present in the feedstock. With the
specialized products priced higher, the small scale players in the
chemical industry are preferring common hydrogenation catalysts that can
be used for a variety of feedstock options.
Hydrogenation Catalyst Market: Segmentation
The global hydrogenation catalyst market can be segmented on the basis of product type, process type, form and end use.
On the basis of product type, the global hydrogenation catalyst market can be segmented into:
- Precious Metal based Hydrogenation Catalyst
- Platinum
- Palladium
- Ruthenium
- Rhodium & Others
- Common Metal based Hydrogenation Catalyst
- Nickel
- Cobalt
- Copper & Others
- Alloys and Other Compounds based Hydrogenation Catalyst
On the basis of process type, the global hydrogenation catalyst market can be segmented into:
- Oleochemical Hydrogenation Process
- Industrial Hydrogenation Process
- Other Hydrogenation Processes
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On the basis of form, the global hydrogenation catalyst can be segmented into:
- Heterogeneous Hydrogenation Catalyst (Insoluble Catalyst)
- Homogeneous Hydrogenation Catalyst (Soluble Catalyst)
On the basis of end use, the global hydrogenation catalyst can be segmented into:
- Chemical
- Oil & Gas
- Refining
- Petrochemicals
- Pharmaceutical
- Polymer
Hydrogenation Catalyst Market: Regional Outlook
Regionally,
the hydrogenation catalyst market is anticipated to follow the growth
of end-use industries in different regions. Asia Pacific is expected to
be one of the leading consumers of hydrogenation catalysts. With rising
investments in oil & gas exploration activities, mainly fueled by
North America, the region is anticipated to register higher investments
by manufacturing players. Middle East & Africa is one of the
prominent producers of fuel and the demand for hydrogenation catalysts
is estimated to follow an upward trajectory during the forecast period.
The chemical industry is growing at a moderate pace globally and the
market for hydrogenation catalysts is expected to grow in tandem with
it.
Some
of the market participants identified across the value chain of the
global hydrogenation catalyst market are BASF SE, Reaxa Limited, Evonik
Industries AG, SOLVIAS AG, W. R. Grace & Co.-Conn., Clariant,
Johnson Matthey, CRI/Criterion Inc., Axens, Honeywell International
Inc., Haldor Topsoe A/S, Albemarle Corporation, SINOPEC Catalyst
Company, China National Petroleum Corporation, ReZel Catalysts, among
others.
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