Phase Transfer Catalyst Market Outlook 2024: What’s Shaping the Industry’s Future

The phase transfer catalyst market was estimated at USD 962.56 million in 2022 and is likely to grow at a CAGR of 5.07% during 2023-2028 to reach USD 1299.77 million in 2028.

Phase transfer catalyst, a particular form of heterogeneous catalyst facilitates the migration of a reactant from one phase into another. Ionic reactants are mostly soluble in aqueous phase. In the absence of a phase transfer catalyst, ionic reactants are insoluble in the organic phase. Phase-transfer catalysts offer several advantages such as faster reactions, higher yields, fewer by-products, elimination of the need for expensive or dangerous solvents and raw materials, and minimization of waste generation. They are also easily available, have low cost, and are employed in green chemistry.