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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. They are also used in the synthesis of polymers such as vinyl chloride, methyl methacrylate, and synthetic fibers such as nylon and polyester. Furthermore, they are used in hydrocarbon processing. For instances, platinum on alumina base is used for production of high-octane gasoline while platinum and palladium impregnated on silica-alumina base is used in the process for hydrocracking in refineries. They are used in petrochemical industries in the process of hydro purification. Precious metal catalysts are also used to reduce Emissions of Volatile Organic Compounds (VOCs) in refineries. The demand for precious metal catalysts is increasing owing to its applications in various industries and strict pollution control regulations. 

The high cost, thermal degradation, and loss of activity due to poisoning are some of the factors hindering the growth of the global precious metal catalyst market.

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.
  • Precious metal catalyst market is growing rapidly in Asia Pacific, owing to the growth in pharmaceutical and automobile industries. According to India Brand Equity Foundation (IBEF), trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India the pharmaceutical industry in India is estimated to grow to US$ 100 billion by 2025. Also, various investment plans by automobile manufacturers such as US$ 1 billion investment by 2020 by General Motors in India, will increase the demand for precious metals. Furthermore, the booming demand for automobile and pharmaceutical industry in China will contribute to the market growth.
  • The global pharmaceutical share of USA is estimated to reach 41% by 2020 as predicted by International Federation of Pharmaceutical Manufactures and Associations (IFPMA) which represents pharmaceutical companies and associations of the world. Furthermore, USA has many automobile manufacturing industries which have transmission and engine plants, and conduct testing and research and development activities. Thus, USA has significant demand for precious metal catalyst.
  • The pharmaceutical, automobile, and petrochemical industries are growing in Latin America which, in turn, is increasing the demand for precious metal catalysts.
  • In Middle East, the growing demand for automobiles in UAE and Saudi Arabia is rising the demand for precious metal catalysts.
  • The pharmaceutical industry in Africa is expected to grow, owing to the growing urbanization, increased awareness about health, and supportive government policies which, in turn, will increase the demand for precious metal catalyst.

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.

Precious Metal Catalyst Market: Key Developments

  • In June 2019, BASF catalysts launched Durasorb HG, a new product for mercury removal from Natural Gas. With the introduction of this, the company is in a position of adding new solutions to its portfolio for the processing applications for natural gas. Durasorb HG is a non-regenerable, mixed metal oxide adsorbent containing a dispersed and promoted copper sulfide phase.
  • In Nov 2017, Evonik Industries AG consolidated its precious metal catalyst activities in India in Evonik Catalysts India Pvt. Ltd. (ECI). The company developed innovative precious metal catalysts which are based on the unique Noblyst catalyst technology.
  • In June 2015, Alfa Aesar introduced an heterogeneous catalyst kit, which was developed by Johnson Matthey Catalysis and Chiral Technologies. The products contained in this kit are based on precious metals and have optimized combination of metals and support for excellent catalytic performance.
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Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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