News Release: July 23, 2025
Co-Mo Based Catalysts Price Trend in Past Five Years and Factors Impacting Price Movements (2019–2024)
The Co-Mo based catalysts market has experienced dynamic price movements over the past five years, influenced by multiple economic, environmental, and geopolitical factors. Between 2019 and 2024, the global average price of Co-Mo based catalysts ranged from $27,800/MT to $39,200/MT.
In 2019, the average Co-Mo based catalysts price stood at approximately $28,400/MT. During this period, the market was relatively stable due to a balanced supply-demand environment. The demand for hydroprocessing catalysts in refineries remained steady, supporting consistent production levels.
In 2020, the COVID-19 pandemic disrupted global supply chains and refinery operations. As a result, the price fell to an average of $27,800/MT due to reduced industrial activities and logistical constraints. Major refineries in Asia and North America temporarily reduced their catalyst purchase volumes, leading to lower Co-Mo based catalysts sales volume globally.
By 2021, as economies began recovering and travel resumed, refinery utilization rates rebounded, boosting the demand for hydrodesulfurization catalysts. This upward momentum caused prices to climb back to around $30,200/MT. However, the supply chain remained fragile, particularly in terms of molybdenum sourcing, contributing to price volatility.
The year 2022 saw a steep rise in Co-Mo based catalysts price, averaging $36,000/MT. The sharp increase was driven by surging molybdenum prices, increased energy costs, and geopolitical tensions, particularly in Eastern Europe. These developments affected mining operations and export logistics, further constraining raw material availability.
In 2023, prices continued their upward trajectory, reaching a yearly average of $39,200/MT. High demand from the Asia-Pacific region, especially from China and India, added pressure on global supply. New environmental regulations imposed on refineries in the European Union and the US led to an increased replacement cycle for spent catalysts, pushing up demand.
Another key factor influencing the Co-Mo based catalysts price trend was the investment in cleaner fuels and decarbonization, which stimulated the replacement of older catalysts with more efficient, active formulations. At the same time, tighter restrictions on sulfur emissions in marine and road transport sectors expanded the application scope for Co-Mo catalysts, further strengthening their market value.
With the rising momentum in green hydrogen and renewable diesel production, the Co-Mo based catalysts market found itself at the crossroads of innovation and demand. Several producers focused on enhancing catalyst longevity and regenerability, adding value and allowing for premium pricing.
As of the close of 2024, the global average Co-Mo based catalysts price stood at $38,700/MT, slightly down from the previous year due to improved raw material availability and enhanced production efficiency across key manufacturing hubs.
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Co-Mo Based Catalysts Price Trend Quarterly Update in $/MT (Estimated)
Q1 2025: $38,300/MT
Slight dip due to stabilizing molybdenum prices and improved inventory levels from late 2024. Some producers in Asia reported surplus stock, leading to marginal price drops in spot transactions.
Q2 2025: $38,900/MT
Mild recovery as demand increased from US and European refineries preparing for peak summer transportation fuel consumption. A few large tenders in India drove temporary price spikes.
Q3 2025: $39,600/MT
Uptrend observed with rising crude oil prices and increased refining activities. Market sentiment improved due to positive forecasts in renewable diesel projects, leading to increased pre-orders for Co-Mo based catalysts.
Q4 2025 (Projected): $40,200/MT
Expected increase in prices driven by inventory replenishments, holiday season fuel demand, and planned refinery shutdowns that typically involve catalyst changeouts. Continued support from the green energy sector also contributes.
Global Co-Mo Based Catalysts Import-Export Business Overview
The global trade of Co-Mo based catalysts is characterized by regional specialization in production and diverse demand centers, creating a complex yet evolving supply chain. Key manufacturing hubs are located in North America, Western Europe, China, and Japan. On the other hand, the demand is widespread, with Asia-Pacific, Middle East, and Latin America being major importers.
In terms of production, China remains the leading producer of Co-Mo based catalysts, benefitting from its integrated supply of cobalt and molybdenum. In 2024, China’s Co-Mo based catalysts production volume exceeded 58,000 MT, with around 36% of it being exported. Chinese manufacturers are also enhancing their production lines to cater to high-activity catalyst formulations, focusing on hydrocracking and hydrodesulfurization applications.
The United States follows with approximately 42,000 MT of production, serving primarily domestic refiners but also exporting to Latin American and European clients. The US market is also home to several top-tier refineries with in-house catalyst regeneration capabilities, which influences their purchase frequency.
Germany and Japan are significant exporters in the premium segment, with technologies geared toward specialty catalysts for renewable diesel and biofuel production. These countries exported nearly 70% of their annual output in 2024, indicating a strong technological edge and demand for performance-based catalysts.
From an import perspective, India has emerged as one of the fastest-growing markets for Co-Mo based catalysts. In 2024, India’s import volume stood at 24,000 MT, up 11% from the previous year. The increase is attributed to the expansion of refining capacity under Indian Oil and Reliance Industries, which are upgrading their hydroprocessing units to meet Bharat Stage VI emission norms.
The Middle East continues to be a dominant buyer, particularly the United Arab Emirates and Saudi Arabia. These nations import high-performance catalysts for their modern refineries, such as the Jazan Refinery Complex and Ruwais Refinery, which require large quantities of hydrodesulfurization and hydrocracking catalysts. In 2024, imports to the Middle East totaled approximately 39,000 MT.
Export regulations and environmental policies play a significant role in shaping the global Co-Mo based catalysts market. For instance, the European Union’s emphasis on circular economy principles has encouraged the re-export of regenerated catalysts. This practice, while reducing waste, also creates a price arbitrage opportunity that affects trade flows.
In Latin America, Brazil and Mexico are notable importers, with a combined demand of over 16,000 MT in 2024. These countries rely heavily on imports due to the lack of domestic catalyst manufacturing infrastructure. However, local catalyst regeneration services are expanding, particularly in São Paulo and Monterrey.
Africa’s import demand remains relatively low but growing, particularly in Nigeria and South Africa, where refinery modernization efforts are beginning to take shape. In 2024, Africa imported around 7,800 MT of Co-Mo based catalysts, mostly from Asia and Europe.
Trade challenges in 2025 continue to include logistics delays, shipping cost fluctuations, and regional political uncertainties. For instance, trade between Europe and Asia experienced temporary slowdowns due to Red Sea security tensions in early 2025, which affected catalyst shipments. Exporters are now increasingly using alternate routes or stocking regional warehouses to mitigate such disruptions.
Currency volatility also plays a role. In 2025, fluctuations in the Chinese yuan and euro influenced export competitiveness. A weaker yuan supported Chinese exports, while the euro’s instability affected pricing negotiations with Middle Eastern clients.
Despite these challenges, the overall Co-Mo based catalysts sales volume in international trade continues to grow steadily. Analysts forecast an 8–10% increase in cross-border shipments by the end of 2025, led by robust demand from cleaner fuel projects and industrial expansions in Asia and Africa.
Production trends also indicate a shift toward environmentally sustainable manufacturing. Several major players have announced investments in recycling spent catalysts, which not only reduces reliance on primary cobalt and molybdenum sources but also lowers export dependency. This trend is expected to continue, making regenerated catalyst trade an emerging segment within the broader Co-Mo based catalysts market.
In conclusion, the global import-export landscape for Co-Mo based catalysts is entering a transformative phase. As demand intensifies across developing regions and environmental pressures grow in established markets, companies must balance cost, performance, and sustainability in their trade strategies. The second half of 2025 is likely to witness greater integration of digital supply chain tools, further streamlining the international movement of Co-Mo based catalysts.
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Co-Mo Based Catalysts Production Trends by Geography
The production of Co-Mo based catalysts is geographically diversified, with key contributions from Asia-Pacific, North America, Europe, and parts of Latin America. Each region exhibits unique characteristics in terms of manufacturing capacity, technological expertise, regulatory influences, and downstream demand, shaping the overall production trends of Co-Mo based catalysts globally.
Asia-Pacific continues to dominate the global Co-Mo based catalysts production landscape. China, in particular, is the single largest producer, accounting for a significant portion of global supply. Its production advantage stems from abundant reserves of molybdenum and cobalt, as well as low-cost manufacturing infrastructure. Chinese manufacturers have scaled up their production capacities to meet growing domestic and export demands. The country’s focus on industrial self-sufficiency and investment in petrochemical expansions has also supported large-scale catalyst production.
India has emerged as a rapidly growing production hub in the region. With several refinery upgrades and new downstream projects under development, India is increasing its catalyst manufacturing base, particularly through public-private partnerships. Indian companies are investing in modern catalyst facilities that meet emission norms and enable efficient refining processes.
Japan and South Korea, while producing smaller volumes compared to China, are leaders in precision engineering and catalyst technology. These countries focus more on high-activity catalysts for advanced refining and clean fuel applications. Their production is often directed toward export markets with specific performance requirements.
In North America, the United States leads the production of Co-Mo based catalysts. The country hosts several global catalyst manufacturers with vertically integrated operations. These firms produce Co-Mo catalysts both for domestic use and for exports, especially to Latin America and the Asia-Pacific region. The presence of a well-developed petrochemical sector supports the demand and justification for local catalyst production. Additionally, technological innovation and a strong focus on catalyst regeneration and recycling further strengthen the US production landscape.
Canada has a modest share in Co-Mo based catalysts production but plays a crucial role in supplying raw materials like molybdenum and cobalt, which are essential for catalyst formulation. Canadian producers often work in collaboration with US and European firms to meet supply chain demands.
In Europe, Germany stands out as a key producer of Co-Mo based catalysts. German manufacturers specialize in advanced formulations for hydroprocessing, particularly for use in biofuel and renewable diesel applications. German companies have been proactive in adopting sustainable manufacturing processes and are pioneers in catalyst regeneration technologies. The production in Germany primarily caters to the European Union, but substantial quantities are also exported to the Middle East and Asia.
France, the Netherlands, and the United Kingdom also contribute to Europe’s production base. Their focus is mainly on producing catalysts with a high degree of activity and stability, targeting niche segments such as clean energy and advanced refining systems.
Russia has significant molybdenum reserves and a long history in catalyst manufacturing. However, its current production faces challenges due to international trade restrictions and supply chain complications. Despite this, domestic demand continues to drive production activity in the region.
In Latin America, Brazil and Mexico are key countries making strides in catalyst production, although at a relatively smaller scale. Brazil has initiated partnerships with international firms to develop local production capabilities, while Mexico focuses on serving its large refining network through domestic output.
The Middle East, although not a major producer, is increasingly investing in domestic production capabilities. Countries like Saudi Arabia and the UAE are in the early stages of establishing catalyst manufacturing plants to reduce import dependency. The proximity to major refining operations makes this region a potential future contributor to Co-Mo based catalysts production.
Africa is still developing its position in the global production map. South Africa holds reserves of cobalt and has shown interest in developing a localized catalyst industry. However, large-scale commercial production remains limited.
Overall, production trends are moving toward regional self-sufficiency, integration with recycling technologies, and greater environmental compliance. Each geography is shaping its production strategy based on raw material availability, technological capacity, domestic demand, and regulatory climate. The trend toward customized catalysts for renewable and clean fuel applications is also influencing the expansion of production facilities in multiple regions.
Co-Mo Based Catalysts Market Segmentation
Segments:
- By Application
- By End-use Industry
- By Catalyst Type
- By Region
- By Production Method
- By Form (Powder, Extrudate, Pellet)
Explanation on Leading Segments
The Co-Mo based catalysts market is segmented based on various criteria to understand the dynamics and identify growth hotspots. Among these, segmentation by application, end-use industry, and region are the most critical for assessing market direction.
By Application, the leading segment is hydrodesulfurization. This application accounts for the largest share of Co-Mo based catalysts demand globally. Hydrodesulfurization is a critical refining process to remove sulfur compounds from fuels, ensuring compliance with emission standards. The increasing stringency of sulfur limits in diesel and gasoline, particularly in the US, EU, China, and India, drives consistent demand for Co-Mo catalysts in this segment. As countries adopt ultra-low sulfur fuel standards, refiners are upgrading units, increasing the replacement cycle of hydrodesulfurization catalysts.
Hydrodenitrogenation is another important application, though smaller in volume compared to hydrodesulfurization. It is gaining traction in high-pressure processing units and advanced refineries, where complex feedstocks are processed. Hydrocracking, which involves breaking down heavier hydrocarbons into lighter products, also uses Co-Mo catalysts in specific reactor stages, although this is more selective and often alternates with Ni-Mo variants.
By End-use Industry, the petroleum refining sector is the primary consumer of Co-Mo based catalysts. Refineries utilize these catalysts in hydrotreating units to meet product quality specifications, reduce emissions, and comply with environmental mandates. With global refinery expansions and upgrades underway, particularly in Asia-Pacific, the demand from this sector remains dominant.
The renewable fuels sector is emerging as a high-growth end-user. Co-Mo catalysts are increasingly being used in the production of renewable diesel and bio-based fuels. Their effectiveness in removing oxygen, sulfur, and nitrogen from bio-oils while maintaining fuel integrity makes them suitable for these processes. As countries and companies commit to net-zero targets, renewable fuel projects are gaining momentum, creating new demand for Co-Mo catalysts.
Chemical manufacturing is another niche end-use industry. While volume consumption here is lower, the catalysts used are highly specialized. Applications include intermediate chemical processing, hydrogenation, and treatment of complex feedstocks in specialty chemicals.
By Catalyst Type, sulfided Co-Mo catalysts dominate the market. These are pre-sulfided before use in reactors and are preferred for their high activity in desulfurization and denitrogenation reactions. Oxide forms are also produced but are typically sulfided in situ during catalyst activation. Regenerated Co-Mo catalysts are gaining share due to cost advantages and environmental considerations. These catalysts are collected after use, cleaned, and reactivated, offering a sustainable alternative to fresh catalyst use.
Regionally, Asia-Pacific holds the largest market share. Rapid industrialization, growing fuel consumption, and tightening environmental norms drive the use of Co-Mo based catalysts across the region. China, India, and Southeast Asia are at the forefront of this growth. China alone contributes significantly due to its refining scale and regulatory pressure to reduce emissions.
North America is the second-largest market, led by the United States. The region’s mature refinery infrastructure, along with consistent investments in clean fuel technologies, supports steady demand. Additionally, innovation in catalyst regeneration and recycling is prominent in North America.
Europe is characterized by high demand for advanced, eco-friendly catalysts. As the region transitions to greener energy sources, Co-Mo catalysts are being integrated into bio-refining and synthetic fuel production processes. This transition is opening up new market opportunities for European catalyst manufacturers.
The Middle East is witnessing fast-paced growth due to refinery expansions in countries like Saudi Arabia, UAE, and Kuwait. As the region diversifies its downstream portfolio, the demand for high-performance catalysts is increasing, especially for export-oriented fuel production.
Latin America and Africa represent emerging markets. While the overall consumption is lower, modernization of old refineries and adoption of environmental standards are expected to drive gradual growth.
By Production Method, the wet impregnation process remains the most widely used method for manufacturing Co-Mo catalysts due to its cost-effectiveness and flexibility. However, new methods focusing on nano-dispersion and enhanced surface area are gaining interest, particularly in advanced catalyst applications.
In conclusion, the Co-Mo based catalysts market is deeply segmented across multiple dimensions, but the key growth areas remain tied to clean fuel production, hydrodesulfurization, and expanding refining infrastructure. With environmental pressures and technological innovations shaping market preferences, the dominant segments are expected to maintain their lead while new application areas emerge steadily.