The Flourishing Chemical Industry is the Key Determinant Propelling the Growth of the Aluminum Nickel Catalyst Market during the Forecast Period 2022-2027

Aluminum Nickel Catalyst Market size is projected to grow at a CAGR of 4.1% during the forecast period (2022-2027) and reach US$5.6 billion by 2027. The growth of the aluminum nickel catalyst market is primarily dependent on the growth of the chemical industry. Aluminum nickel catalyst is a high-performance catalyst that is utilized in various applications in different end-use industries. The demand for the aluminum nickel alloy is excessive in petroleum, pharmaceutical, rubber, paint and agrochemical industries. The surging developments associated with the chemical industry across the world have led to considerable growth in the Aluminum Nickel Catalyst market. 

Aluminum Nickel Catalyst Market: The Chemical Industry Leads the Market

On the basis of the end-use industry, the Aluminum Nickel Catalyst Market can be segmented into building & construction, electrical & electronics, chemical, textile & apparel, automotive, packaging, agriculture and others. The chemical industry is evaluated to be the leading segment in the aluminum nickel catalyst market in 2021. During the forecast period 2021-2027, the chemical segment is expected to grow at a CAGR of 4.8%. In the chemical industry, this catalyst presents a high level of performance when utilized in catalytic hydrogenation reactions, which are applied in the production of agrochemicals intermediates, rubber additives, dye, sorbitol and drug intermediates. According to International Trade Administration (ITA), the Indian chemicals industry stood at US$178 billion in 2020 and is projected to reach US$300 billion by 2025. Moreover, in 2022, Clariant’s Catalysts business has been awarded three new contracts by China’s Lihuayi Group for its upcoming chemical and petrochemical manufacturing units.

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Aluminum Nickel Catalyst Market: Asia-Pacific Holds the Largest Share

On the basis of geography, the Aluminum Nickel Catalyst Market can be segmented into North America, South America, Europe, APAC and EMEA. According to IndustryARC’s analysis, Asia-Pacific has emerged as the most dominant region in the market. In 2021, the Asia-Pacific region held around 36.9% share of the total revenue earned by the market globally. Asia-Pacific countries including China, Japan and India are comparatively ahead in terms of the growth of the chemical industry. According to International Trade Administration (ITA), Indonesia is aiming to obtain an investment of US$31.5 billion in the chemical industry by 2023 and decrease the sector’s imports by 40%. The government estimates to reap the advantages of various new chemical plants that are currently underway. Moreover, according to Invest India, fertilizer production increased by 8.2 percent in June 2022 over June 2021. Its cumulative index increased by 13.2 percent from April to June 2022-23 over the corresponding period of the previous year. The aluminum nickel catalyst market would also witness significant growth in the North American region. The US and Canada are emerging as competitive countries in the Aluminum Nickel Catalyst market.

Aluminum Nickel Catalyst Market: Competitive Landscape

Key companies holding major shares in the Aluminum Nickel Catalyst Market are Alfa-Aesar, Axens, BASF SE, Evonik Industries AG, Haldor Topsoe A/S, Hangzhou Jiali metal Technology Co. Ltd., Johnson Matthey, Sigma Aldrich, Vineeth Chemicals and W. R. Grace & Co.