The import of supported catalysts, excluding nickel or precious metal compounds as the active substance to India, shows a steady upward trend from 2024 to 2028, with forecasted values increasing from $145.78 million to $159.42 million. In 2023, the imports were $142 million. Year-on-year growth depicts a consistent increase of approximately 2.4% each year. The five-year compound annual growth rate (CAGR) is estimated at 2.36%, indicating a modest but steady increase in imports.
Future trends to watch for include advancements in industrial applications that may drive demand, potential changes in global trade dynamics affecting supply chains, and innovations in catalyst technologies that could alter market dynamics or create cost efficiencies for importers.
