Polymerization Catalyst Market Size

Polymerization Catalysts Market size was over USD 3.18 billion in 2023 and is poised to cross USD 6.22 billion by 2036, witnessing more than 5.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of polymerization catalysts is evaluated at USD 3.31 billion.

The growth of the market can be attributed to increasing production of polymer resins such as polypropylene, polyethylene, and polyvinyl chloride, extensive research to improve quality and reduce cost of polymerization catalysts, and growing use of catalysts to produce plastic materials. In addition, since the inception of COVID-19 pandemic, the demand for surgical and N95 masks have witnessed a notable surge. In 2020, the United States alone witnessed a notable hike in the production of N00395 masks. The evaluated value was more than 44 million masks in January, which grew up to 178 million by the end of the year. This is expected to fuel the production of polymerization catalysts that are used in the manufacturing of these masks, which in turn is projected to offer lucrative opportunities to the market players in the near future.