Global VOC Catalysts Professional Survey Report 2022, Forecast to 2027

The VOC Catalysts is forecast to crazy increase over the next few years. According to the WK-chem Research “Global VOC Catalysts Professional Survey Report 2022, Forecast to 2027”, With the rising Industrialization Rates in Emerging Economies, the VOC Catalysts industry is developing at an incredible speed. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 8.28% base on WK-chem Research regression analysis model.

Analysts’ Viewpoint:

Catalysts are employed in a variety of industries, such as oil and gas, polymer synthesis, chemicals, and consumer goods. As a result, the rate of global industrialization, particularly in emerging economies, has a considerable impact on market growth, said Amy, Senior analyst, Chemical & Material Market Research Center in WK-chem Research.

Market insight：

Market Overview

Volatile organic compounds (VOCs) are a wide-ranging class of species that are common aerial pollutants. Since the inception of urbanization and industrialization, emissions of volatile organic compounds (VOCs) have become serious concern due to harmful effects on terrestrial biota, serious measures must be taken to minimize the emissions of VOCs. Catalytic oxidation is considered one of the most promising technologies for removing VOCs for its low ignition temperature, high efficiency, and no secondary pollution in the process of treatment. In 2021, the global market revenue of VOC Catalysts is 1863.47 million USD, and its market revenue is expected to reach 2981.7 million USD by 2027.

Market Opportunities

1.Strict regulatory restriction   

On a worldwide scale, concern for our environment has understandably gained high priority in many current political and social agendas. The emission of man-made pollutants to the environment has increased as consumer demand increases, leading to greater industrialization as economies develop. Most countries have strict regulations to control VOC emissions. Against this background, catalysis is a key enabling technology, and it will play a critical role in solving many of the challenges we face in protecting the environment by controlling emissions, now and in the future. Increasingly stringent regulations provide growth opportunities for the development of the VOC Catalysts market.

2.Increased industrializations in emerging economies   

Catalysts are used in many industries, therefore, the pace of global industrialization, especially in emerging economies, has had a considerable impact on the VOC Catalysts market growth. The most representative of emerging economies is China. From 2012 to 2021, China's industrial added value increases from 20.9 trillion yuan to 37.3 trillion yuan, with an average annual growth rate of 6.3%, much higher than the global average annual growth rate of industrial added value of about 2% during the same period. In 2020 and 2021, despite the impact of the new crown pneumonia epidemic, the average growth rate for the two years will still reach 6.1%.

Market Drivers

1.Protect human health and environmental quality   

Although the release of VOCs originates from the nature and human activities, the anthropogenic source accounts for a large proportion for VOC emission. Urbanization and industrialization have further led to the continuous increase in the emission of VOCs. The anthropogenic sources were usually linked with chemical industries, gas station, food processing, petrochemical processing, production of plastics, solvent use, and many other industrial activities. Due to the high volatility at ambient conditions, the majority of VOCs can be easily emitted into the atmosphere and be absorbed through the human respiratory tract, skin, and digestive tract, and are harmful to the respiratory system and central nervous system even at low concentrations. Furthermore, some of the VOCs are used in the formation of secondary organic aerosols, reducing air quality, and may trigger stratospheric ozone depletion. Therefore, efficient VOC destruction is of paramount significance from the perspectives of environment and human health. This provides a strong growth driver for the development of the VOC Catalysts industry.

2.Catalytic Oxidation is an Effective Method for VOC Removal   

Currently, several different technologies have been developed to control atmospheric VOC emissions including thermal oxidation, adsorption, absorption, and condensation. One of the best options is the process of catalytic oxidation. Compared to thermal oxidation, the incorporation of a catalyst into the oxidation process introduces a number of advantages, such as a decrease in the operating temperature, a reduction of NOX emissions and harmful partially oxidized by-products, the treatment of very dilute effluent streams, and VOCs can be removed to very low levels. Compared to adsorption and absorption, there is no formation of a solid or liquid secondary waste product from catalytic oxidation.

Market Risk

High-cost constraints   

In general, the noble metal catalyst is an optimal choice for VOCs destruction due to its superior activity, but the high cost and poor stability still limit its further applications. 

for example, the price of palladium has risen sharply over the past few years. The supply of palladium has been below global demand for many years. The slow supply is triggered by its rarity. The metal is only mined in a few areas, with the Bushveld Igneous Complex, in Transvaal Basin, South Africa; the Stillwater Complex in Montana, United States; the Sudbury Basin and Thunder Bay in Ontario, Canada; and the Norilsk Complex in Russia being the major extraction centres. Tightening regulations on vehicle emission standards have also created an increase in the demand for the metal.

Competition Landscape:

This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading @@@@ companies that include BASF, Shell, Johnson Matthey,TANAKA, Haldor Topsoe, Clariant, Nikki-Universal, CERACOMB, DCL International, Advanced Catalyst Systems, The CMM Group, Catalytic Products International, Beihai Kaite Chemical Packing, Chimet.

Segmentation of VOC Catalysts Market:

By Type, the market has been subdivided into segments of Pellet, Honeycomb and Columnar. The Honeycomb segment occupies the largest market share in 2021.Among volatile organic compounds (VOCs), there are many substances that have strong odor and toxicity even in very small amounts.In order to fully decompose such substances at low temperatures and improve the operating environment, catalysts with higher density honeycomb designs will come into play. From the perspective of Application, the market is divided into Pharmaceuticals, Coatings, Food, Refineries and Others. Refineries dominates the market and may continue to dominate during the forecast period. Refineries transform crude oil into petroleum products and are vital for the production of fuels, which people rely on for transportation, heating, and other industrial and living activities. However, refineries are the single largest point sources of VOCs and may contribute significantly to the formation of ozone on a regional scale owing to large emissions of highly reactive VOCs. Therefore, the demand for VOC Catalysts from refineries accounts for the majority of the industry. 

VOC Catalysts Market: Regional Analysis

In terms of geography, the global VOC Catalysts market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. The Asia Pacific region has a dominant market position, with the largest revenue share in 2021, 34.24%, followed by North America whose revenue share is 30.31%. Asia Pacific is also the region with the largest compound annual growth rate, with a compound annual growth rate of 8.6% from 2022 to 2027. People's living standards in the Asia-Pacific region have improved, and people's needs for environmental standards are also increasing. They are paying more and more attention to improving air quality. Controlling emissions has become another concern of manufacturers and the public. VOC catalysts demonstrate a robust and affordable solution to this challenge. High-performance catalysts effectively remove harmful volatile organic compounds (VOCs) and carbon monoxide, while dramatically reducing plant energy consumption.

largest share area：Asia Pacific

largest share country：China

Product Type：Pellet, Honeycomb, Columnar

Application：Pharmaceuticals, Coatings, Food, Refineries, Others

Leading Company：BASF, Shell, Johnson Matthey, TANAKA, Haldor Topsoe