Inclusive study on Precious Metal Catalysts Market to Attractive Growth by 2027

Precious metals such as palladium and platinum are applied to carrier material to get precious metal catalysts. The commonly used carrier materials are aluminum oxide or active carbon. Precious metal catalysts have a wide range of applications such as it is used as a catalytic convertor in automobile industry. Catalytic convertor is used to convert toxic vehicle emissions into less toxic pollutants. Platinum, palladium, and rhodium are the commonly used precious metals in catalytic convertors. In pharmaceutical industries, synthesis of many active pharmaceutical ingredients such as acetaminophen, L-dopa, carbapenam, and tetracycline is done in the presence of precious metal catalysts. These catalysts are used in preparation of bulk chemicals such as ammonia, hydrogen peroxide, phenols, and anilines.

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Precious Metal Catalysts -Market Taxonomy

On the basis of product type, the global precious metal catalyst market is segmented into:

Iridium
Palladium
Platinum
Ruthenium
Rhodium
Gold
Silver
Others

On the basis of end user, the global precious metal catalyst market is segmented into:

Automobiles
Pharmaceuticals
Refinery
Petrochemicals
Others

Platinum catalyst is widely used in automobile sector thereby making it the most commonly used precious metal catalyst owing to the stringent environmental requirements.

Precious Metal Catalysts -Market Outlook

Europe is the largest market for precious metal catalysts, owing to the introduction of stringent emission rules such as Euro 6 and Euro 7 which defines the limits for exhaust emission for new vehicles that are sold in Europe.

Key Players in the Global Precious Metal Catalyst Market

The companies are adopting various strategies such as mergers and acquisitions to sustain their market positions. For instance, in March 2015, Monarch Catalysts Pvt. Ltd. acquired Evonik Industries AG. Some of the key players operating in the global precious metal catalyst market include Alfa Aesar, BASF SE, Clariant International Ltd, Evonik Industries AG, Heraeus Group, Johnson Matthey Plc, Umicore SA, and Vineeth Precious Catalysts Pvt. Ltd.

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