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Noticeable shifts have been witnessed in the world platinum and palladium carbon catalyst market’s trends. These catalysts play a significant role in many industrial processes, especially in terms of vehicle catalytic converters, fuel cells and chemical production. One major trend is increasing demand for these catalysts from automotive industry because of strict global emission laws. As one result automobile industry has had to adopt new types of catalytic converter which contain these two substances among their main components.
Additionally, advent of green energy solutions increases worldwide demand for platinum and palladium carbon catalysts especially for fuel cells. In such cases it is used to facilitate electrochemical reactions occurring inside a fuel cell that change chemical energy into electrical one. That means shift towards greener more sustainable sources of power makes them indispensable part that should be involved in supplying energy through fuel cell technologies . This figure is expected to continue rising even higher because of growing emphasis on renewable power across different parts.
Chemical manufacturers have adopted platinum-palladium carbon catalysts also besides using them in emissions control applications and fuel cells’ utilization. They are applied across several chemical processes including hydrogenation and dehydrogenation reactions that enable adoption of environmentally friendly methods to produce goods. Thus, rising demand for such materials is observed as industries are trying to minimize their environmental footprints using novel inputs from such firms.
Another important trend that can be observed in the field of catalyst technology is a considerable shift. In this line, researchers and manufacturers have been striving to enhance efficiency and extend lives of their platinum/palladium on carbon (Pd/C) catalysts through continuous exploration. It involves changes made to morphology, structure and content of these catalysts so as maximize their efficiency in catalysis where possible. In wider efforts to achieve better performance across multiple sectors, search for improved triggers seems well aligned with aspirations towards sustainability and more resource efficient approaches.
However, challenges exist mainly due to scarcity and price volatility for platinum group metals (PGMs). Generally speaking these materials are considered precious and thus heavily influenced by global commodities market fluctuations which impact overall costs of catalyst production. These factors are closely monitored by industry players who are also considering other options or recycling-based strategies for reducing raw material risks.
Platinum Palladium Carbon Catalyst Market Highlights:
Market Overview
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.
The platinum catalyst is widely used in the automobile exhaust system to reduce the emission of volatile organic compounds, oxides of sulfur and nitrogen, and other pollutants. Palladium catalyst is widely used in the industrial organic industry and reactions, including carbon-carbon multiple bond reduction, reduction of nitro and nitroso compounds, aromatic ring saturation, reductive aminations/alkylation, and hydrogenolysis.
The positive outlook of the automotive industry and efforts made by automakers to reduce the emission and carbon footprint owing to increasing environmental concerns and stringent emission regulations are expected to drive the growth of the global platinum carbon catalyst market during the forecast period. The market growth is also influenced by the surging demand for hydrogen fuel cell vehicles, particularly in Europe, the US, and Japan. Furthermore, the growing chemical and pharmaceutical industries in the developing economies such as India, China, Brazil, and ASEAN countries is also expected to fuel the growth of the global market. By metal type, platinum carbon catalyst segment is expected to dominate the global market and witness healthy growth owing to its lower price as compared to palladium.
However, the high cost of platinum and palladium, and the availability of substitute products are expected restrain the growth of the global market during the forecast period. Â
Key Players
Some of the key players operating in the global platinum- and palladium-carbon catalyst market are Johnson Matthey (UK), Evonik Industries AG (Germany), BASF AG (Germany), Clariant AG (Switzerland), Vineeth Precious Catalysts Pvt. Ltd (India), Sabin Metal Corporation (US), FUJIFILM Wako Pure Chemical Corporation (Japan), American Elements (US), Chimet S.p.A. (Italy), Heraeus Group (UK), Alfa Aesar (US), Shaanxi Kaida Chemical Engineering Co., Ltd (China), Shanxi Kaida Chemical (China), KaiDa Chemicals (China), and Umicore N.V. (Belgium).
Global Platinum and Palladium Carbon Catalyst Market Share, By End-Use Industry, 2018 (%) Â 
Source: MRFR Analysis
Regional Analysis
The global platinum- and palladium-carbon catalyst market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Asia-Pacific dominated the global platinum- and palladium-carbon catalyst market in 2018 and is expected to witness significant growth during the forecast period, on the account of robust chemical, pharmaceutical and automobile manufacturing outlook in the region, particularly in India, China, and ASEAN countries. China is expected to witness healthy growth in terms of demand for platinum catalyst and palladium catalyst, owing to the growth of the automotive and chemical industries in the country. Moreover, initiatives by the governments to support the growth of domestic manufacturing index is expected to drive the growth of the platinum- and palladium-carbon catalyst market in India.
North America and Europe are expected to be prominent markets for platinum- and palladium-carbon catalyst, owing to the recovering automotive industry with increasing demand for electric vehicles. Latin America is expected to be an opportunistic market and witness healthy growth owing to recovering economics and expanding automotive and chemical industries in Brazil and Mexico. The Middle East & Africa is projected to witness relatively moderate growth in the global platinum- and palladium-carbon catalyst market during the forecast period.
Segmentation Analysis
The global market has been segmented based on metal, end-use industry, and region.
On the basis of metal, the global platinum- and palladium-carbon catalyst market has been categorized into platinum-carbon catalyst and palladium-carbon catalyst.
By end-use industry, the global platinum- and palladium-carbon catalyst market has been divided into automotive, chemicals, aerospace, pharmaceuticals, and others.
The global platinum- and palladium-carbon catalyst market, by region, has been segregated into North America, Latin America, the Middle East & Africa, Europe, and Asia-Pacific.
Target Audience
- Manufacturers of platinum- and palladium-carbon catalyst
- Traders and distributors of platinum- and palladium-carbon catalyst
- Research/education institutes
- Industry associations
- Potential investors
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