The global catalyst market is forecast to expand significantly over the next several years. According to various industry reports, global catalyst demand is expected to increase from approximately $25 billion in 2018 to more than $35 billion by the mid-2020s.

Hydrocarbon Processing’s Construction Boxscore Database is tracking more than $1.4 trillion in processing capacity projects around the world. The significant increase in new petrochemical and refining capacity is being led by an increase in petrochemical products and refined fuels demand globally, particularly for the production of low- and ultra-low-sulfur fuels. In turn, the demand for catalysts—to assist in these necessary reactions—will increase significantly.

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