ID: MRFR/CnM/9152-HCR | 150 Pages | Published By Priya Nagrale on March 2023
Hydrodesulfurization Catalysts Market is projected to be worth USD 3.68 Billion by 2028, registering a CAGR of 4% during the forecast period (2020 - 2028).
The Hydrodesulfurization Catalysts Market is projected to register a CAGR of over 4% during the forecast period, 2020–2028, with North America being the leading regional market.
Hydrodesulfurization, one of the most important processes in the oil refining industry, is a catalytic chemical process used to reduce pollutants in the fraction of petroleum distillates. It is widely used to remove sulfurfrom natural gas and refined petroleum products such as gasoline, diesel fuel, jet fuel, kerosene, and fuel oils. The catalysts used in this process are Hydrodesulfurization Catalysts Market. Crude oil contains a complex mixture of sulfur compounds, such as sulfides, disulfides, and thiols. The industrial hydrodesulfurization processes include facilities for capturing and removing the hydrogen sulfide (H2S) gas formed after the reaction of sulfur gases with hydrodesulfurization catalysts. In petroleum refineries, hydrogen sulfide gas is subsequently converted into byproduct elemental sulfur or sulfuric acid (H2SO4).
The purpose of removing the sulfur from these fuel oils and natural gas is to reduce the sulfur dioxide emissionsresulting fromseveral combustions. In the catalystic reforming units, the removal of sulfur is important as it can poisons the noble metal catalysts such as rhenium and platinum, evn at low concentrations. These are subsequently used to upgrading the octane rating of the naphtha streams. Damage to these precious metal catalysts can severely impact the process and leading tohigh costs.
|Market Size||2030 : Significant value|
|CAGR||4%(2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application and Region|
|Geographies Covered||North America, South America, Europe, Asia-Pacific, Middle-East, and Africa|
|Key Vendors||Albemarle Corporation (US), China Petroleum & Chemical Corporation (China), Johnson Matthey (UK), Royal Dutch Shell PLC (Netherlands), and Axens (US)|
|Key Market Opportunities||Growth opportunities in emerging economies of Asia-Pacific|
|Key Market Drivers||
The global hydrodesulfurization catalysts market is estimated to be USD 470 million by 2028.
The rising environmental issues concerning the pollution caused due to emissionand stringent regulations of sulfur content in fuelsare the key driving factors responsible for the market growth in the European region.
North America holds the largest share in the global hydrodesulfurization catalysts market, followed by Asia-Pacific and Europe.
Albemarle Corporation (US), China Petroleum & Chemical Corporation (China), Johnson Matthey (UK), Royal Dutch Shell PLC (Netherlands), and Axens (US) are some of the key players in the hydrodesulfurization catalysts market
Strategic initiatives such as mergers & acquisitions, expansion, collaborations, and technology/product launches are some of the strategies adopted by the players in the global hydrodesulfurization catalysts market to gain a larger competitive advantage.