POLYMERIZATION CATALYSTS MARKET ANALYSIS

Global Polymerization Catalysts Market is projected to reach around US$ 4,698.4 by 2030, exhibiting a CAGR of 5.5% during the forecast period (2023-2030).

Global Polymerization Catalysts Market: Drivers

• Rising demand for organo-metallic catalysts: Organo-metallic catalysts are essential components of the polymerization process of oligo-dienes and styrene, and are being utilized by the chemical industry to produce a growing number of plastic substances. Catalytic catalysts, including metallocenes and semi-sandwich catalysts, as well as nickel- and iron-based catalysts, are capable of modifying the polymer chain's microstructure. One of the primary drivers of the market discussed is the growth in the production of polymers including polyethylene and polypropylene.Technological Advancements in Polymerization catalysts market is the development of new and advanced polymerization catalysts is expected to drive the growth of the market. For example, in 2022, a team of researchers from the University of California, Berkeley, developed a new type of polymerization catalyst that can produce high-quality plastics with fewer impurities and waste.
• Increasing demand of refinery market in developing countries: The growing refinery market in Africa, the Middle East, and Asia Pacific could act as another key driver for the polyolefin catalyst market over the forecast period. Africa is a net importer of petroleum products, and its import requirements are projected to further increase. In 2021, in the Middle East region, large refinery and condensate splitter projects were completed in  Iraq, Iran, Saudi Arabia, Kuwait, and the U.A.E, whereas Oman and Qatar will also add to their capacities, by offering a scope for raising the production of polymers, and hence, contributing to the increase in the utilization of catalysts.

Global Polymerization Catalysts Market: Restraints

• Stringent rules and regulations on phthalate-based catalysts: Stringent rules and regulations on phthalate-based catalysts have been in place for several years, and they continue to impact the polymerization catalysts market. Phthalate-based catalysts are known to be harmful to human health and the environment, and as a result, many countries have implemented regulations to restrict their use. For instance, in 2021, the European Chemicals Agency (ECHA) added four phthalates to the REACH Candidate List of Substances of Very High Concern (SVHC). The European Union's Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) regulation restricts the use of phthalate-based catalysts in the production of plastics

Global Polymerization Catalysts Market: Opportunity

• Growing technological advancements: Ongoing technological advancements in the field of polymerization catalysts is projected to present significant growth opportunities over the forecast period. For instance, a novel polymerization catalyst called as redox-active olefin polymerization catalyst was discovered in recent years. It is used to achieve catalyst modulation, which helps in maintaining and controlling the extent of polymerization of monomers, while creating various types of polymers that vary in, both, their thermal and mechanical properties. Increasing automobile production where polyethylene is used in the making of tires is expected to present significant growth opportunities.

Global Polymerization Catalysts Market: Trends

• Rising production of HDPE and investments in the petrochemical industry: Increasing production of HDPE (High Density Polyethylene.) is a growing trend in the market. This is expected to propel the market growth over the forecast period.  According to Coherent Market Insights analysis, the production of HDPE is expected to increase to 4 million metric ton by 2023. HDPE is mainly used in the manufacturing of housing appliances and packaging. The demand for Low-density Polyethylene (LDPE) is expected to reach 1.2 million metric ton by the end of 2023. Growing investments in the petrochemical industry and upcoming olefin projects are expected to drive the demand for catalysts in the near future. This is expected to increase the use of polyolefin catalysts in the production of olefin derivatives.

Global Polymerization Catalysts Market: Key Developments

• In January 2021, LyondellBasell Industries Holdings BV who innovate material solutions and recycling technologies, LyondellBasell is dedicated to creating a brighter, cleaner, and healthier future for generations to come. launched a new family of polyethylene catalysts designed to produce high-density polyethylene with improved clarity and color.
• In July 2021, China Petrochemical Corporation (Sinopec) is a listed company on domestic and international stock exchanges with integrated upstream, midstream and downstream operations, strong oil & petrochemical core businesses and a complete marketing network developed a new catalyst for the production of ethylene propylene rubber with improved thermal stability and mechanical properties
• In February 2022, W.R. Grace & Co. developed a new metallocene catalyst for the production of high-performance polyethylene with improved mechanical properties such as tensile strength and impact resistance.
• For instance, in 2020, Clariant AG and ExxonMobil announced a collaboration to develop new catalysts for the production of high-density polyethylene (HDPE).Partnerships and Collaborations Many companies in the polymerization catalysts market have formed partnerships and collaborations to develop new products and technologies.

Global Polymerization Catalysts Market: Regional Analysis

The Global polymerization catalyst market is expected to be dominated by Asia Pacific over the forecast period due to the presence of robust economies such as China. Furthermore, China is one of the largest producers of plastics products globally. The expansion of downstream processing industries that process PVC (Polyvinyl Chloride) , PET (Polyethylene terephthalate),and polyethylene, as well as polypropylene, is expected to further increase the demand for polymerization catalysts in the future. On the other hand, North America is projected to experience significant growth due to the increasing attention of key players in this region to expand production capacities of polymers.

Figure 1. Global Polymerization Catalysts Market Share (%), By Region, 2023

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Regionally, Asia Pacific dominated the global polymerization catalysts market in terms of revenue, in 2022, followed by North America and Europe, respectively.

Global Polymerization Catalysts Market: Segmentation

The global polymerization catalysts market is segmented on the basis of classification, catalyst, and region. Based on classification, the market is divided into Polyolefin Catalysts, Condensation Polymer Catalysts, Thermosetting Polymer Catalysts, and Additional Polymer Catalysts. On the basis of catalysts, the market is segmented into Zeigler-Natta, Single-site, Chromium, Peroxide, and Other Catalysts. On the basis of region, market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.

Figure 2. Global Polymerization Catalysts Market Share (%), By Catalyst, 2023

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On the basis of catalyst, in 2022, the zeigler-natta segment accounted for the largest market share of 47% in terms of value, followed by the single-site segment.

Global Polymerization Catalysts Market: Impact of Coronavirus (COVID-19) Pandemic

The economic repercussions of the coronavirus pandemic, as well as the stringent regulations imposed by environmental agencies such as the U.S. EPA and the European Union's REACH, are likely to impede the development of the market. Furthermore, the adverse climatic conditions caused by the pandemic are expected to impede the market growth. As a result of the closure of manufacturing facilities, polymers have seen a significant decrease in demand.

An instance year for this impact is 2020.while the pandemic has had a significant impact on the polymerization catalysts market, businesses in the market have shown resilience and adaptability in the face of these challenges. As the world continues to recover from the pandemic, the polymerization catalysts market is expected to rebound and continue to grow in the coming years.

Global Polymerization Catalysts Market: Key Companies

The key companies operating in the global polymerization catalysts market are W. R. Grace & Co.-Conn., Clariant, China Petrochemical Corporation (Sinopec), Dorf Ketal Chemicals (I) Pvt Ltd, Univation Technologies LLC (Dow), Toho, Titanium Co. Ltd, Sumitomo Chemical Co. Ltd, Honeywell International Inc., INEOS AG, Lyondellbasell Industries Holdings BV, McDermott, Mitsui Chemicals Inc., Nova Chemicals Corporation, and PQ Corporation A.

Definition: Polymerization catalysts are molecules that control the incorporation of monomers into polymer chains. Monomer incorporation can be crucial because it can dictate the properties of the final product. The characteristics of monomer chains can be controlled by the chemist through a variety of methods, including the use of metal centers and ligand scaffolds.