Hydrogenation Catalyst Market to Reflect Steady Growth Rate by 2028

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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