Refining Catalysts Market to Accrue Impressively By 2027 with a Whooping CAGR; Asserts MRFR

Pune, India, December , 2017/MRFR Press Release/- Market Research Future published a Half Cooked Research Report on “Global  Refining Catalysts Market Research Report - Forecast to 2027”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.

Refining Catalysts Market   - Overview

The Global Refining Catalysts Market is increasing with the impulsive pace, owing to the growing oil & gas industry. According to a recent study report published by the Market Research Future, The global market of refining catalysts is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2020-2027). 

Globally, the market for refining catalysts is driven by the region Asia pacific, owing to the rise in the need for sulphur treated petroleum end products resulting in to increasing demand for oil & gas industries. Catalysts are important compounds in the processing of highly valued petrochemicals, gasoline, diesel and other fuels. Catalysis is the important petro refinery process as most of the refinery processes are catalytic. Petroleum fractions produced via fractional distillation are not the desired fractions which can directly be used as end products. In the presence of highly selective and yielding refining catalysts, cracking of crude oil at high temperatures is feasible. Due to the stricter regulations and government policies many refineries are looking for high functioning catalysts to treat the petroleum crude oil and remove the undesired compounds which are environmentally unacceptable.

Rising population and their energy needs defines the growth of petroleum industry to meet the energy demands. Moreover growing petrochemical feedstock as industries such as plastics, automobile & aerospace, textiles, and chemicals provide momentum to the Refining Catalysts Market growth.

On the other hand, the negative impact of petro refining process is that leave volatile organic compounds (VOCs) into the environment. In future, news laws and policies and coupled with increasing concern for clean environment may hamper the growth of petro refineries.  

Refining catalysts such as zeolites, noble and non-noble metals, and chemical compounds are costlier but they are capable to deliver high performance for long run purposes. These high value added products widely used in the processes such as fluid catalytic cracking, hydrotreating, hydrocracking and catalytic cracking. Fluid catalytic cracking is the most important petro refinery process. Due to which zeolites are getting demand owing to increasing refinery capacities across the globe in the forecast period.

Zeolites is most widely used cold insulation material due to effectiveness and low and followed by noble metal catalysts.

Key Players:

Haldor Topsoe A/S (Denmark), BASF SE (Germany), Axens (France), Clariant International Ltd (Switzerland), Royal Dutch Shell plc (the Netherlands), Exxon Mobil Corporation (U.S.), Honeywell International Inc (U.S.), China Petroleum & Chemical Corporation (China), Kuwait Catalyst Company (Kuwait), and Criterion Catalysts & Technologies L.P. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Refining Catalysts Market.

Refining Catalysts Market   - Competitive Analysis

The Refining Catalysts Market appears to be competitive with the presence of several large and small players operating in the Refining Catalysts Market. These Key players compete based upon pricing, quality, Technology and reputation. Refining Catalysts market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. Manufacturers operating in the Refining Catalysts Market strive to respond to the growing demand for BASF SE have introduced new boron based technology refining catalysts to curb the sulphur emissions and increase the selectivity & yield of the desired products in various petrochemical refining processes. This gives a challenge to other refining catalysts manufacturers to sustain in the changing regulations and government policies world owing to the increasing environmental concerns.

Industry/ Innovation/ Related News:

January 2017 – Haldor Topsoe A/S (Denmark), is the major manufacturer of Refining Catalysts, has announced that company joins research program which is estimated to be USD 4 million investment to improve selective catalytic reduction catalysts by incorporating nanomaterial. By incorporating titanium dioxide nanoparticles, the company aims to improve cleaning off-gases in petro refineries and remove nitrogen oxides (NOx) are major compounds which are causing air pollution.  Increasing air pollution awareness and stricter regulation petro refineries has to stay in compliance with environmental regulations and maximize their production by using these catalysts.

November 2017 – BASF SE (Germany), one of the key manufacturers of Refining Catalysts also having presence in New Jersey, announced that BASF researcher received R&D award BroCat Catalyst which is the first boron based technology catalyst for fluid catalytic cracking. They also patented this technology and received Thomas Alva Edison Patent Award. Metal catalysts often produce undesired reactions that decrease the refinery process efficiency. BroCat has resolved this problem with an outstanding solution to increase the selectivity of the reaction.

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