Catalyst development is an intricate process that encompasses various stages, from initial discovery to final application. The high costs are primarily driven by the need for extensive research and development, advanced materials, and rigorous testing. Developing an effective catalyst requires a deep understanding of complex chemical reactions, which often necessitates the use of sophisticated computational models and experimental setups. Furthermore, sourcing and synthesizing high-purity materials can be costly, and the process often involves numerous iterations and optimizations.
