Refinery Catalyst Market by Latest Trends, Leading Key Players, Future Growth, Revenue, Demand Forecast To 2030

The global Refinery Catalyst market size is expected to be worth around US$ 9.4 billion by 2027, according to a new report by Vision Research Reports.

The global Refinery Catalyst market size was valued at US$ 6.5 billion in 2019 and is anticipated to grow at a CAGR of 4.6% during forecast period 2020 to 2027.

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Growth Factors

The market is expected to grow on account of increasing demand for transportation fuel globally. Stringent regulations coupled with increasing demand for petroleum and petroleum derived products/chemicals are likely to steer market growth. Refinery catalysts are used in the petroleum refining industry to enhance the operational efficiency of petroleum. In addition, the increasing demand for high octane fuel, particularly in countries such as U.S., Japan, Germany, U.K., and India due to stringent regulations is expected to positively influence the growth of the market for refinery catalyst.

Growing demand for petroleum products is the major factor driving the market. Refinery catalysts are chemicals that are used in different operations for carrying out refining activities. These substances are responsible in altering the rate of chemical reactions in the FCC unit, thereby, speeding up the reaction, which reduces the turnaround time of the manufacturing process.

Report Highlights

In terms of revenue, the zeolites segment held a market share of 33.1% in 2019. Zeolites are hydrated aluminosilicate minerals, belonging to the family of microporous solids. They are widely used as adsorbents and owing to their porosity and large surface area. The porous structure of zeolites accommodates a variety of cations such as potassium (K+), sodium (Na+), calcium (Ca2+), and magnesium (Mg2+).

The metal catalyst to be used in the process is selected on the basis of the type of feedstock, desired cycle length, and end product to be obtained. Companies such as Clariant and BASF SE are the major manufacturers and suppliers of FCC and hydrocracking catalysts across various regions.

FCC catalysts emerged as the largest application segment, accounting for a market share of 45.0% in terms of revenue in 2019. The growth in this segment can be attributed to the growing demand for gasoline as a fuel for its use in automotive vehicles across the globe. Other application-based segments include fluid catalytic cracking (FCC) catalysts, hydro treating catalysts, hydrocracking catalysts, catalytic reforming.

Fluid catalytic cracking is the most preferred method used by refineries to convert heavy and high boiling hydrocarbons to lower valuable fractions. Gasoline is the primary material obtained from the process along with other fractions such as diesel and C3 and C4 gaseous fractions.

The hydrotreating process also called hydro desulfurization process is used to separate chemically bound sulfur compounds from various petrochemical materials using a variety of refinery catalysts that are selected based on the feed.

Asia Pacific dominated the market and held a revenue share of 30.1% in 2019. China and India were reported as the second and fifth largest countries, respectively, in the market for refinery catalyst in 2019. Increasing number of private sector companies has played a crucial role in promoting the refining industry in the aforementioned countries especially in India. Reliance operated Jamnagar refinery complex in Gujarat had a capacity of 1.2 million barrels per day in 2019, which was the largest refinery in the world.

Refineries in Europe are suffering from low margins on account of high manufacturing costs coupled with stringent environmental regulations. This regulatory move in Russia is expected to fuel demand for catalysts in refining applications.

European Commission’s inclination towards reducing Greenhouse Gas (GHG) emissions coupled with regulatory bills intended for promoting the biofuels industry is expected to increase demand for enzyme catalysts.

Key Players

Albemarle Corporation BASF SE Johnson Matthey Plc W. R. Grace Clariant International Ltd.

Market Segmentation

Material Outlook  Zeolites Metallic Chemical Compounds Others Application Outlook FCC Catalysts Alkylation Catalysts Hydrotreating Catalysts Hydrocracking Catalysts Catalytic Reforming Others Regional Outlook North America U.S. Canada Mexico Europe Germany U.K. France Italy Spain Russia Asia Pacific China India Japan South Korea Australia Indonesia Central & South America Brazil Middle East & Africa Saudi Arabia South Africa

Why to Buy this Report?

This market report is the perfect presentation of the qualitative and quantitative analysis of the market according to categorization considering economic and non-economic factors. It also provides provision of market value (USD Million) data for every segment and sub-segment. This report further focuses on prominent regions and segmentation of the market, which is anticipated to record the rapid growth and dominate the market.

Key Coverage of the Report

Key Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and Recommendations) Strategic recommendations for major business segments based on accurate estimations Competitive landscape mapping key trends in the regions Company profiling with strategic initiatives, financial standing, and recent events The report evaluated key market features, including revenue, price, capacity utilization, gross margin, production and consumption, demand and supply, import/export, along with market share and CAGR. In addition, the study offers a comprehensive analysis of these factors, along with pertinent market segments and sub-segments. Detailed SWOT analysis. Opportunities and threats faces by the existing vendors in Global Refinery Catalyst Market Trending factors influencing the market in the geographical regions. Strategic initiatives focusing the leading vendors. PEST analysis of the market in the five major region.

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