The industrial catalyst market size, in terms of value, is projected to reach USD 22 Billion by 2020, at a CAGR of 4.2%, between 2015 and 2020. The industrial catalyst market, in terms of volume, is projected to reach 6,420.6 kilotons, by 2020, at a CAGR of 3.8%, during the forecast period. The increasing applications, growing manufacturing industries, increasing R&D activities, continuous expansion, and merger & acquisition activities undertaken by companies are key factors responsible for the growth of the industrial catalyst market.

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The heterogeneous catalyst are projected to be the fastest-growing type of industrial catalyst between 2015 and 2020. It is preferred by the major manufacturers owing to its characteristic of being easily separated from the products. Organometallic material is projected to register the fastest-growth among materials, followed by metals, in the industrial catalyst market. Metal is the most preferred material used in the manufacturing of the industrial catalyst market. The demand for metals is mainly driven by to the growing application sector. Petroleum refining is the largest application segment in the industrial catalyst market. The increase in refinery capacity and the demand for fuels have led to an increase in the use of catalyst in this application.

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The Asia-Pacific region, being the largest market for industrial catalyst is also projected to register a high CAGR in the industrial catalyst market, in terms of value, between 2015 and 2020. This growth is mainly driven due to an increase in the industrial catalyst demand in various application sectors, such as petroleum refining, chemical synthesis, and petrochemicals.
Though the industrial catalyst market is gaining importance at a fast pace, a few factors act as a bottleneck toward the growth of industrial catalyst market. The limited availability of industrial catalyst raw materials and higher production costs of industrial catalyst are major restraints toward the growth of the industrial catalyst market. The technological advancements in chemical synthesis also reduce the demand of catalyst.

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