The global platinum and palladium carbon catalyst market is estimated to reach over USD 540 million by the end of 2024, expanding at a CAGR of 4.0% during the forecast period.
Platinum- and palladium-carbon catalysts are extensively used in the chemical and pharmaceutical manufacturing industries as hydrogenation catalysts for a wide variety of organic synthesis and coupling reactions. Platinum catalyst and palladium catalyst are supported on charcoal or activated carbon to optimize the surface area and activity. Platinum- and palladium-carbon catalyst are often referred to as platinum on carbon (Pt/C) and palladium on carbon (Pd/C). These catalysts find application in the chemical, pharmaceutical, automotive, petrochemical, and electronic industries as they enhance the performance during chemical processing and organic synthesis. The performance of platinum- and palladium-carbon catalyst can be described based on mesh size, noble metal content, and purity of carbon, among others. Moreover, the activity of platinum and palladium on carbon is highly susceptible to the method chosen to introduce palladium/platinum into the structure and to absorb it on the surface of the charcoal particles.
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Based on metal, the global platinum- and palladium-carbon catalyst market has been segmented into platinum-carbon catalyst and palladium-carbon catalyst. The platinum-carbon catalyst segment accounted for the largest share of the global market in 2018. The segment is expected to witness healthy growth during the forecast period, owing to the high demand in the automotive and chemical industries, due to its relatively low cost. The increasing R&D investment in the platinum catalyst and palladium catalyst to reduce the precious metal content in the catalyst while enhancing the performance and reducing the operating cost is driving the market growth. Most of the liquid phase batch hydrogenations are performed with 5% palladium on carbon paste. While 50% platinum on carbon paste is generally used for polymer electrolyte fuel cell (PEMFC), microbial fuel cell (MFC), direct methanol fuel cell (DMFC), and phosphoric acid fuel cell (PAFC) applications.
By end-use industry, the global platinum- and palladium-carbon catalyst market has been divided into automotive, chemical, aerospace, pharmaceutical, and others. The chemical segment accounted for the largest share of the global platinum- and palladium-carbon catalyst market, followed by the automotive segment. The demand in the automotive industry is expected to increase significantly, owing to increasing efforts made by automakers to reduce the emission and carbon footprint due to increasing environmental concerns and stringent emission regulations.
- Evonik Industries AG
- Johnson Matthey
- Clariant AG
- Vineeth Precious Catalysts Pvt. Ltd
- BASF AG
- Sabin Metal Corporation
- American Elements
- Chimet S.p.A.
- FUJIFILM Wako Pure Chemical Corporation
- KaiDa Chemicals
- Alfa Aesar
- Heraeus Group
- Shaanxi Kaida Chemical Engineering Co., Ltd
- Umicore N.V.
- Shanxi Kaida Chemical
The global platinum- and palladium-carbon catalyst market, by region, has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific led by India, China, and Japan is expected to dominate the global platinum- and palladium-carbon catalyst market through the forecast period. Backed by the expanding automotive and chemical industries, the demand for platinum- and palladium-carbon catalyst is expected to increase significantly during the forecast period. Europe was the second-largest market for platinum- and palladium-carbon catalyst in 2018 and is expected to showcase moderate growth during the forecast period owing to increasing automotive production led by Germany, France, the UK, Italy, and Russia. The North American market is expected to be another prominent market for platinum- and palladium-carbon catalyst owing to the increasing demand in the chemical, petrochemical, and automotive industries. The Middle East & Africa is expected to witness moderate growth backed by increasing investments in chemical and petrochemical industries, particularly in the Middle East. The market in Latin America is expected to exhibit significant growth during the forecast period due to expanding end-use industries, such as automotive, aerospace, and electrical & electronics in the region.
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