ID: MRFR/CnM/3025-HCR | February 2023 | Region: Global | 111 Pages
Globally the Refinery Catalyst Market projects at a value of USD 4 billion to USD 5.2 billion during the forecast period and occupies a CAGR of 2.90% during the forecast period of 2020 to 2030
$5.2 Billion
2.90%
Asia Pacific
2020-2030
Globally the refinery catalyst market projects at a value of USD 4 billion to USD 5.2 billion during the forecast period of 2020 to 2030. It occupies a CAGR of 2.90% during the forecast period of 2020 to 2030. As per the Environmental Protection Agency, an automobile liberates about 4.6 metric tons of carbon dioxide every year. Average gasoline automobiles comprise a fuel economy of about 22 miles per gallon where you can drive about 11,500 miles per year. Each gallon of gasoline when burned liberates about 8.9kg of carbon dioxide.
COVID 19 ANALYSIS
The outbreak of COVID has spread to almost every country globally along with the World Health Organisation declaring this pandemic to be a public health emergency. Globally, the impacts of COVID have been felt which in turn will affect the refinery catalyst industry during the forecast period. This pandemic has affected the country leading to the cancellation of flights, quarantining oneself, banning the travels, and closure of various food courts. The production unit of the refinery catalyst was being stopped. Many of the laborers were affected by COVID. The decline in the growth in the supply chain and a decrease in the stock market volatility was marked. Financial issues arose in the industry. The outbreak brought changes in consumer behavior thus making the people more panic.
 The government took serious steps on the spread of the coronavirus. He imposed the wearing of masks and use of sanitizers as a strict regulation.
MARKET DYNAMICS
MARKET SEGMENTATION
REGIONAL ANALYSIS
Asia-Pacific is expected to be the fastest and dominant region covering the majority of refinery catalyst market share during the forecast period of 2020 to 2025. This region has been the dominant region of the refinery catalyst market due to increasing population, industrialization, urbanization, using the government norms strictly and the environmental regulations so put forward are the factors that raise the Asia-Pacific region’s refinery catalyst market size and refinery catalyst market value.
COMPETITIVE LANDSCAPE
Some of the major key players operating in the refinery catalyst market are
These players carry out different growth strategies that will help in the expansion of the market. It gives information about the market features so adopted to improve the market insight.
RECENT DEVELOPMENTS
REPORT OVERVIEW
This report visualizes the composition of the petroleum products about the product type and also about the application segment thus highlighting the assets and the competitors playing in the market. It summarises the opportunities put forward by the refinery catalyst market. It analysis about the refinery catalyst market trends. It provides details about the factors that help in driving the market growth. It gives comprehensive details about the refinery catalyst market and gives in-depth market study and describes the market scenario. the report gives an analysis of the market forecast at the local and national levels. It also gives an in-depth assessment of the market value and volume and gives in-depth and growth strategies so acquired by the different key players of the market. It gives information about the SWOT analysis so performed in the market. It gives a financial statement about the key players playing in the market.
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: 2 billion |
CAGR | 2.90% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type and Ingredients |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Albemarle Corporation (U.S), W. R. Grace & Co. (U.S), Haldor Topsoe A/S (Denmark), Honeywell, Uop LLC. (U.S), Criterion Catalysts & Technologies L.P. (U.S), Axens SA (France), BASF SE (Germany), China Petroleum & Chemical Corporation (Sinopec Corp.) (China), Clariant International Ltd (Switzerland) and Exxon Mobil Corporation (U.S) |
Key Market Opportunities | Increasingly stringent fuel and environmental regulations, heavier crudes and feedstock, and soaring energy demand have created complex |
Key Market Drivers | Growing purchasing power of consumers. |
The zeolite ingredient segment is the dominant and largest segment. Zeolites are more preferably used in the FCC process. It is hugely advantageous due to it available at a reasonable price along with its other beneficial properties which increases the growth of the refinery market. Zeolites act as good adsorbents increasing the surface area and increasing its porosity. Due to the porous nature of zeolites and accommodation of carbon within it takes place.
On 17 January 2020, Clariant merged with Polymateria and Central Institute of Plastic Engineering and Technology and developed new plastic biodegradation which helped in market growth.
North America is said to be the dominant and largest region after Asia- Pacific. It is so because the refinery catalyst companies are investigating huge sums in research and development of the industry at a high rate as per the technology and rise in demand partnerships.