Palladium catalyst is one of the precious metal catalysts used to increase the rate of chemical reaction without itself undergoing any change. The activity of palladium catalyst depends upon the volume of palladium present in the catalyst, method of depositing palladium, type of support, and distribution of palladium on the support. Palladium is obtained from ores in a mineral form. These ores are rare. Palladium catalyst is formed by depositing palladium salt from a solution onto a carrier. The salt is then treated with hydroxide or carbonate to eventually form metallic palladium. Metallic palladium is then deposited on the support. The carrier support can be based on activated carbons, alumina, silica, calcium carbonate, or zeolites in various shapes such as rings, pellets, extrudates, powders, and monoliths. The global palladium catalyst market can be segmented based on product type, carrier type, and application. Palladium catalyst is available as homogenous and heterogeneous palladium commercially. Homogeneous palladium catalyst is soluble in the reaction mixture and therefore can be adjusted to the desired catalytic process. Heterogeneous catalyst is defined as product whose phase differs from that of the reactants. Here, phase refers to the physical state such as solid, liquid, and gas.
Applications of palladium catalyst include petrochemical, pharmaceutical, automotive, agrochemicals, specialty chemicals, and flavors & fragrances. In the automotive industry, palladium catalyst is used in exhaust emission catalytic converters and diesel particulate filters. It is used to accelerate chemical reactions in manufacturing industries. Palladium is an established catalyst metal to manufacture various chemicals such as vinyl acetate monomer, hydrogen peroxide, methyl iso-butyl ketone, purified and terephtalic acid (pTA). Palladium catalysts are used in various catalytic processes, especially in hydrogenation processes. For instance, it is used in the production of hydrogen peroxide from alkylated anthraquinone. Palladium catalyst is used in coupling reactions, wherein two hydrocarbon fragments are coupled with a metal catalyst.
Palladium catalyst is expensive, as palladium is not available in large volumes on the earth. Spent palladium catalyst is regenerated using expensive technologies to get a product with good efficiency and one that can be used again. A small percentage of palladium is lost during the process of regeneration. This gap is filled up using new catalyst. Therefore, palladium catalyst can be new or a regenerated one with similar properties. Homogenous palladium catalyst is expected to account for larger share during the forecast period as it is used in chemical reactions such as carbonylation, coupling reaction, oxidation, and hydrosilylation.
The palladium catalyst market has been expanding due to its increasing usage in automotive applications due to substitution of palladium for platinum in diesel-engine vehicles. Government certification required for regeneration activity is hampering the market. This certification is required as palladium is a precious metal and the regeneration activity can release harmful gases in the atmosphere if proper care is not taken using high-end technologies. Government-authorized regenerators are preferred by end-users. However, unauthorized regenerators do exist in the market and are able to sustain due to the less processing charges quoted by them. A regenerator of palladium catalyst charges the end-user for a processing fee based on the concentration of palladium. The end-user benefits from the low processing fees.
Demand for palladium catalyst is expected to increase in Asia Pacific due to growth in automotive and chemical production in the region during the forecast period. The value chain in this industry consists of miners, catalyst producers, distributors, and regenerators. Major companies operating in global palladium catalyst market include Johnson Matthey, Heraeus, Evonik, BASF SE, Shanxi Kaida Chemical Engineering Co.Ltd, and Liming Research Institute of Chemical Industry.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.