PUBLISHER: The Business Research Company | PRODUCT CODE: 1877847
PUBLISHER: The Business Research Company | PRODUCT CODE: 1877847
Platinum-based catalysts are materials that utilize platinum as the active component to accelerate chemical reactions without being consumed in the process. They are known for their high efficiency and stability, enabling reactions such as hydrogenation, oxidation, and reforming, often under mild operating conditions. These catalysts enhance reaction rates and selectivity, thereby improving overall process performance.
The key types of platinum-based catalysts include homogeneous catalysts, heterogeneous catalysts, supported catalysts, and unsupported catalysts. Homogeneous catalysts exist in the same phase (typically liquid) as the reactants, allowing for uniform molecular-level interaction to accelerate chemical reactions. These catalysts are available in various forms, such as liquid, solid, granulated, and powdered catalysts. Regarding catalyst recycling and life cycle management, they may be designed as recyclable or disposable catalysts and often involve regeneration processes and performance monitoring technologies. Platinum-based catalysts are widely used in applications such as fuel cells, petrochemicals, and other industrial processes, serving end-user sectors including automotive, chemical manufacturing, oil and gas, pharmaceuticals, and more.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The intensifying U.S. tariffs and escalating trade tensions in spring 2025 are expected to have a significant impact on the chemicals sector, which is bearing a disproportionate burden, particularly from tariffs on petrochemicals and intermediates, where affordable domestic substitutes are often unavailable. Producers of specialty chemicals, heavily dependent on Chinese raw materials, are experiencing production disruptions. At the same time, fertilizer manufacturers are seeing profit margins eroded due to tariffs on phosphate imports. In response, companies are ramping up R&D into bio-based alternatives, forming procurement alliances to consolidate buying power, and shifting production to tariff-neutral nations such as Saudi Arabia.
The platinum-based catalysts market research report is one of a series of new reports from The Business Research Company that provides platinum-based catalysts market statistics, including platinum-based catalysts industry global market size, regional shares, competitors with a platinum-based catalysts market share, detailed platinum-based catalysts market segments, market trends and opportunities, and any further data you may need to thrive in the platinum-based catalysts industry. This platinum-based catalysts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The platinum-based catalysts market size has grown strongly in recent years. It will grow from $3.67 billion in 2024 to $3.91 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%. The growth during the historical period can be attributed to several factors, including the increasing demand from the automotive sector, the implementation of stricter environmental regulations, the growing adoption of fuel cell technologies, the expanded use of platinum catalysts in petroleum refining, and the rising demand for clean energy solutions.
The platinum-based catalysts market size is expected to see strong growth in the next few years. It will grow to $4.98 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The projected growth for the forecast period can be attributed to rising investments in green hydrogen infrastructure, the growing adoption of electric and low-emission vehicles, increasing demand for sustainable aviation fuel, and a heightened focus on carbon-neutral technologies. Major trends expected during this period include technological advancements in catalyst formulations, innovations in manufacturing processes, developments in catalyst recycling technologies, improvements in durability and lifespan, and ongoing efforts to optimize overall catalyst performance.
The expansion of the automotive industry is expected to drive the growth of the platinum based catalysts market in the coming years. The automotive industry refers to the sector involved in the design, development, manufacturing, marketing, and selling of motor vehicles including cars, trucks, and motorcycles. The expansion of the automotive industry is attributed to rising consumer demand as increasing purchasing power and changing lifestyle preferences lead more people to purchase vehicles. Platinum based catalysts enhance the automotive industry by enabling efficient emission control, improving fuel efficiency, and supporting compliance with strict environmental regulations. For example, in January 2023, the European Automobile Manufacturers Association, a Belgium based organization, reported that global production of passenger cars exceeded 68 million units, representing a 7.9 percent increase compared to 2022. Therefore, the expansion of the automotive industry is driving the growth of the platinum based catalysts market.
Key companies operating in the platinum based catalysts market are focusing on developing innovative solutions such as recycled and low carbon platinum group metals to meet the rising demand for sustainable and environmentally friendly catalytic technologies. Recycled and low carbon platinum group metals are precious metals recovered from used catalysts or industrial waste and processed in a way that significantly reduces carbon emissions compared to traditional mining. For example, in December 2023, BASF Environmental Catalyst and Metal Solutions LLC, a United States based manufacturing and technology company, launched Verdium, a pioneering product that establishes a benchmark for recycled platinum group metals using a mass balance approach. Verdium is produced entirely from recycled platinum group metals, delivering high quality metal with substantially lower carbon emissions. The product can reduce carbon emissions by up to 97 percent compared to primary mined metals, helping customers achieve measurable carbon reduction and sustainability goals. Independent verification by UL Solutions ensures a completely transparent and auditable supply chain from production to end use, providing reliable traceability and confidence in carbon footprint reporting.
In September 2024, Ravindra Heraeus Private Limited, an India based precious metals and specialty materials company, acquired the catalyst and recycling business of Arora Matthey in Vizag, India, for an undisclosed amount. Through this acquisition, Ravindra Heraeus Private Limited aims to strengthen its presence in South India, expand its catalyst production and recycling capabilities, and support sustainable solutions for the chemical and pharmaceutical industries. Arora Matthey Limited is an India based company that specializes in platinum based catalysts.
Major players in the platinum-based catalysts market are Sinopec Catalyst Co. Ltd., BASF SE, Thermo Fisher Scientific Inc., Linde plc, Heraeus Group, Umicore SA, Johnson Matthey Plc, Evonik Industries AG, E. I. du Pont de Nemours and Company (DuPont), Albemarle Corporation, Clariant AG, Haldor Topsoe A/S, Tanaka Holdings Co. Ltd., Shanxi Kaida Chemical Engineering Co. Ltd., American Elements, Catalytic Products International Inc., Ravindra Heraeus Private Limited, Vineeth Chemicals, FuelCell Store Inc., and Suvidhinath Laboratories.
North America was the largest region in the platinum-based catalysts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the platinum-based catalysts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The platinum-based catalysts market consists of sales of automotive catalysts, petroleum refining catalysts, chemical synthesis catalysts, fuel cell catalysts, and industrial oxidation catalysts. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Platinum-Based Catalysts Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on platinum-based catalysts market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for platinum-based catalysts ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The platinum-based catalysts market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.