A catalyst is a material that speeds up the rate of chemical reactions without being part of the final product. In this sense, it accelerates or decelerates the time it takes for a product to emerge from the reaction of the reactants while remaining chemically unchanged. According to BlueQuark Research & Consulting, the global Industrial Catalyst market is expected to witness a significant growth rate during the forecasted period. Factors like the increasing use of Industrial Catalysts in the Petroleum industry, as selective catalysts, and zeolites catalyzing is used in breaking heavy hydrocarbons to produce gasoline with anti-knocking properties, are expected to drive the global market. Further, ammonia is the most commonly used catalyst in the agrochemical industry to make fertilizers essential for plant growth projected to drive the global market. Furthermore, catalysts that make chemical production processes safer, easier, and faster in the chemical industry are expected to drive market growth. However, many of the catalysts used in organic synthesis reactions are heavy metals that are rare and precious and can contaminate the environment if they are not disposed of properly. Organic solvents that are toxic or flammable are used in most organic synthetic reactions and are expected to hinder the global market growth.

Industrial Catalyst is used in the petroleum industry, which provides a surface for reactants to adsorb onto and from which products to desorb from. It creates ammonia, synthesis gas, and some acids in the agrochemical industry. Silica, zirconia, alumina, active carbons, magnesia, and zeolites are essential industrial catalysts used in various chemical processes. Catalysts are used in the food production industries like breweries, beverage producers, and food producers. Platinum and palladium are used in the pharmaceutical industry for catalytic hydrogenation. The application for catalysts in the textile industry is for dyeing, finishing, and effluents treatment.

The Petroleum Industry is the most vital consumer of Industrial catalysts and is projected to drive the Global Market. Alkylation of light olefins with isobutane in the presence of hydrogen and metallic catalysts produces gasoline with low aromatic contents (benzene/naphthalene), making the Global Market for Industrial Catalysts is bound to rise. According to U.S. Energy Information Administration, crude oil and lease condensate reserves fell by 9 billion barrels in 2020, a 19% drop, while natural gas reserves fell by just over 22 trillion cubic feet, a decline of 4%. Sulfur and metals like vanadium and nickel, which are poisonous in many processes, are found in crude oil. Catalytic reforming involves petroleum refining catalysts that treat heavier hydrocarbon streams containing higher concentrations of sulfur and metals, the demand for the industry shoots, thus driving the Global Industrial Catalyst Industry. Therefore the mentioned use of Industrial Catalysts in the Petroleum Industry is expected to grow and drive the overall market in the future.

The North American region is expected to be the leader in the production and consumption of Industrial Catalyst, with most of the consumption in countries like the U.S. and Canada. BASF Catalysts is the world’s leading supplier of environmental and processed catalysts. With the growing demand for petroleum-derived products due to the world population and development, upgrading crude oil to higher quality is increasing, thus driving the global Industrial Catalyst market demand. The demand for Industrial Catalysts is growing in the agrochemical industry, as the agriculture industry is a crucial provider of food raw materials and employs 70% of the world’s population, which plays a critical role as the backbone of the economic system, which is driving the need for Industrial Catalyst in the Global Market. Catalysts make various materials quicker and more efficient in the chemical industry by regulating the activation energy required to start chemical reactions. They reduce the waste generated during manufacturing processes and drive the demand for Industrial Catalysts. In the food industry, food companies use enzymes as catalysts to deal with hot button issues, including sugar and acrylamide reduction, and improve sustainability, driving the global Industrial Catalyst market. In the pharmaceutical industry, catalytic organic synthesis is used to produce active pharmaceutical ingredients(API), which provides cleaner procedures and, hence, greener chemistry, driving the global market. Catalysts are used in the textile industry to accelerate reactions, operate under milder conditions, replace harsh chemicals, and are easy to control and recyclable, driving the Industrial Catalyst market.  The mentioned factors have made North America an important region for growth in the Industrial Catalyst Market.

Some of the market's key players are Albemarle Corporation, BASF SE, Chevron Phillips Chemical Company LLC, Arkema S.A., Clariant AG, among others.

In February 2022, a research group led by Prof. LU Fang from the Dalian Institute of Chemical Physics (DICP) of the Chinese Academy of Sciences (CAS) proposed an effective catalytic technique for directly converting solid biomass into natural gas with a low carbon footprint.

In February 2022, Gary Moore, a researcher at Arizona State University’s Biodesign Centre for Applied Structural Discovery, and colleagues describe using ring-shaped molecules known as porphyrins. These compounds, which are among nature’s most prevalent pigments, are known for their ability to speed up or catalyze chemical reactions, including important reactions occurring in living systems. 

In January 2022, Cardiff University researchers demonstrated that gold could be used as a catalyst to create methanol and acetic acid from methane in natural gas.

Global Industrial Catalyst Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Industrial Catalyst market by segmenting based on the By Types (Homogeneous Catalyst, Heterogeneous Catalyst, Biocatalyst, Others),  By Elements (Oxides, Sulfides, Halides, Others), By Components (Aluminosilicates, Iron, Vanadium, Platinum, Nickel, Others), By End User (Petroleum, Agrochemical, Chemical, Food, Medical, Textile, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.