May 23, 2025 – The global chemical industry has been abuzz with a major development: Honeywell has sealed an all-cash acquisition deal worth £1.8 billion (approximately RMB 17.4 billion) to acquire Johnson Matthey’s catalyst technology division. This strategic move not only marks another significant step for Honeywell in the energy and sustainability sectors but also signals potential upheavals in the global catalyst market landscape.
The catalyst technology division targeted by Honeywell is a near-perfect fit for the company’s existing UOP catalyst and process technology sales operations. By integrating this business, Honeywell aims to significantly expand its market share in the refining and petrochemical catalyst segments while bolstering its technological prowess. Notably, the acquisition will enable Honeywell to offer customers comprehensive low-emission solutions for key fuel production for the first time. This expanded portfolio will cover sustainable methanol, sustainable aviation fuel (SAF), blue hydrogen, and blue ammonia, driving the global energy transition towards greener alternatives and injecting fresh momentum into Honeywell’s Energy and Sustainability Solutions (ESS) business unit.
According to insights from the Color Masterbatch Industry Network, Honeywell anticipates immediate earnings growth in the first year following the deal’s closure. The transaction is now in an advanced stage, with an expected completion date set for the first half of 2026, contingent upon meeting several standard closing conditions, including regulatory approvals. This acquisition comes on the heels of a series of strategic realignments by Honeywell, such as plans to spin off its high-performance materials business and separate its automation and aerospace operations. These initiatives aim to sharpen the company’s focus on core competencies, drive organic growth, and streamline its product offerings.
As a leading player in the global chemical industry, Honeywell’s every strategic maneuver draws intense scrutiny. The acquisition of Johnson Matthey’s catalyst technology division represents a crucial milestone in Honeywell’s ongoing efforts to strengthen its position in energy and sustainability. Johnson Matthey, a globally renowned specialty chemicals company founded in 1817 and headquartered in London, boasts extensive technological expertise and market influence in catalysts, precious metals, and specialty chemicals. With around 1,900 employees and manufacturing facilities across multiple regions, the catalyst technology division’s transition under Honeywell’s umbrella is poised to unlock new growth opportunities.
Looking ahead, as the global demand for clean energy and sustainable development surges, the collaboration between Honeywell and Johnson Matthey in catalyst technology holds promise for groundbreaking innovations. These advancements could play a pivotal role in accelerating the global energy transition and safeguarding the environment.