From 2023 onwards, India's import of supported catalysts excluding nickel or precious metals as active substances begins at 14.0 million kilograms. Projections show a steady rise to 16.123 million kilograms by 2028. This equates to year-on-year increases: 2.97% in 2025, 2.81% in 2026, 2.69% in 2027, and 2.56% in 2028. The compound annual growth rate (CAGR) envisaged from 2023 to 2028 is approximately 2.73%. These figures suggest a consistent upward trend in imports for the coming years.
Future trends to watch include:
- Advancements in industrial processes may demand different catalysts, potentially affecting imports.
- Regulatory changes focusing on sustainability could alter demand for certain catalyst imports.
- Economic growth and industrial expansion in India might further increase the demand for non-precious metal catalysts.