Metals & Mining

According to a market report by Lucintel, the future of the precious metal catalyst market looks promising with opportunities in the automobile, pharmaceutical, and refinery industries. The global precious metal catalyst market is expected to reach an estimated $26.7 billion by 2028 with a CAGR of 7% from 2023 to 2028. The major drivers for this market are growing demand for precious metal catalysts in the automotive industry to reduce vehicle emissions and increasing trend of nanoparticle catalysts.



In this market, platinum, palladium, rhodium, iridium, and ruthenium are the major segments of precious metal catalyst market by type. Lucintel forecasts that platinum will remain the largest product type segment over the forecast period due to its increasing usage in automobiles as it helps in reducing C0₂ emissions and growing demand in chemical, pharmaceutical, and oil and gas industries.



Within this market, automotive is expected to remain the largest end use industry segment due to increasing sales of diesel vehicles and implementation of stringent emission standards in the automotive industry. 



Europe will remain the largest region due to the growing automotive industry and implementation of stringent emission regulations, such as Euro 6 and Euro 7 in the region.

BASF SE, Evonik Industries AG, Heraeus Group, Johnson Matthey Plc, and Umicore SA are the major suppliers in the global precious metal catalyst market.  



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global precious metal catalyst market by product type, end use industry, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Precious Metal Catalyst Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global precious metal catalyst market by product type, end use industry, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the precious metal catalyst market by product type (platinum, palladium, rhodium, iridium, and ruthenium), end use industry (automobile, pharmaceutical, refinery, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?