The Global Refining Catalyst Market size is projected to grow from USD 1.2 billion in 2021 to USD X.X billion by 2028, at a CAGR of 11.1% during the forecast period. The growth can be attributed to factors such as increasing demand for petroleum products and petrochemicals due to rapid industrialization across developing economies, surging investments in refinery operations globally, and stringent environmental regulations imposed on refineries.
Refining catalysts are used to speed up or alter chemical reactions. It is considered a key enabler of the process industry and plays an important role in increasing productivity while reducing environmental impact. Refining catalysts are typically made up of a matrix and active particles. The matrix is the material that surrounds, supports, and protects the active particles to ensure they can do their job as effectively as possible. It also ensures that any components added by the manufacturer remain in place throughout use and processing. Its benefits are: - Enables fewer processing units with a high capacity of refining products, which in turn saves the cost.- Allows a reduction in processing time.- Can be reused, thus reducing the cost of the refining catalyst.- Provides better quality of refining products.
On the basis of Type, the global refining catalyst market is segmented into FCC Catalyst, Hydrotreating Catalyst, Others.
FCC Catalyst is a type of refining catalyst that can be used in the petroleum and chemical industry to replace hydrotreating. This FCC catalyst is mostly preferred for the cracking process as it has excellent thermal stability, high activity & low coke production. FCC Catalyst is a type of refining catalyst that includes several types such as acid and neutral. The properties of each FCC catalyst depend on the chemical nature which can be described by a few factors such as pore size, shape, and concentration.
Hydrotreating Catalyst is used for the removal of sulfur compounds and nitrogen oxide in petroleum refining. The hydrogenation reaction takes place here to remove these contaminants from the fuel stream by converting them into elemental form, which can then be removed through the filtration process. The properties of the Hydrotreating Catalyst type are high activity, good resistance to sulfur poisoning, and hydrogenation performance. It has the following benefits: -Increased catalyst activity and resistance to poisons. -Enhanced hydrogen sulfide removal performance. -Increased efficiency and reduced costs.
On the basis of Application, the global refining catalyst market is segmented into Petroleum Chemical Industry, Others.
Refining Catalyst is used for chemical reactions that require the breaking down of large molecules into smaller ones. It is an important process in refining petroleum to produce different hydrocarbons like gasoline, kerosene, and diesel fuel. The process of refining involves the removal of impurities from petroleum, chemicals, and other raw materials. The primary objective behind refining is to reduce undesirable compounds in order to improve product quality while minimizing environmental risks associated with waste generation. Refining catalysts are used for hydrocarbon conversion including hydrocracking (breaking long-chain hydrocarbons into shorter ones), hydrogenation (reducing double bonds), and dewaxing (softening waxes).
On the basis of Region, the global refining catalyst market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East & Africa. North America is expected to be the most attractive region among all key regions during the forecast period due to the rapid development of shale gas extraction coupled with growing downstream sectors such as chemicals, automotive, etc. In 2017, the United States was one of the largest markets for Refining Catalyst. The U.S. used to be a major producer and consumer of petroleum products as well as oil imports until 2015 when crude oil production from shale plays surpassed consumption in the country’s refinery industry. Latin America is a significant market for refining catalysts. Mexico, Brazil, and Argentina are major countries in this region where refineries have been installed to process crude oil into petroleum products such as gasoline, diesel, etc. The European market for refining catalysts is growing at a steady pace with limited impact due to global economic slowdown or political changes. Currently, Europe has an abundant supply from Russia which may result in lower prices but will create demand problems if Russian exports were restricted due to geopolitical reasons. The Asia Pacific is expected to account for the largest market share of refining catalysts by 2028. The growth in the region can be attributed to factors such as increasing consumption of petroleum products, increase in industrialization, and rapid economic development among others. There is a huge demand for refineries across the Middle East and Africa (ME&A). The growing automotive industry, petrochemical industries, etc., has increased the demand for gasoline over the past few years leading to a higher oil consumption growth rate. Rising crude prices also posits ample opportunities for market players who can provide refinery equipment with advanced technology which would reduce processing costs while reducing environmental impact at the same time.
- Increasing demand for gasoline, diesel, and other refined hydrocarbons from end-use industries.
- Shortage in the supply of crude oil worldwide is boosting the need to produce more petroleum products by processing heavy crude oils with refinery catalysts.
- Growing environmental regulations across nations would have a positive impact on the growth of the refinery catalyst market over the next few years.
- China, India, and the U.S. are some of the emerging economies where demand for petroleum products is expected to rise in coming years.
- Growing industrialization across developing nations would have a positive impact on the refinery catalyst market over the next few years.
Up Market Research published a new report titled “Refining Catalyst Sales Market research report which is segmented by Types (FCC Catalyst, Hydrotreating Catalyst, Other Types), By Applications (Petroleum Chemical Industry, Industrial, Others), By Players/Companies Grace Catalysts Technologies, BASF, Albemarle, Criterion, Johnson Matthey, Haldor Topsoe, UOP (Honeywell), Axens, JGC C&C, Sinopec, CNPC”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Refining Catalyst Sales Market Research Report |
By Type | FCC Catalyst, Hydrotreating Catalyst, Other Types |
By Application | Petroleum Chemical Industry, Industrial, Others |
By Companies | Grace Catalysts Technologies, BASF, Albemarle, Criterion, Johnson Matthey, Haldor Topsoe, UOP (Honeywell), Axens, JGC C&C, Sinopec, CNPC |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 247 |
Number of Tables & Figures | 173 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type FCC Catalyst, Hydrotreating Catalyst, Other Types and By Application Petroleum Chemical Industry, Industrial, Others.
Some of the companies that are profiled in this report are:
Refining Catalyst Sales Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Refining Catalyst Sales Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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