ID: MRFR/CnM/1035-HCR | February 2021 | Region: Global | 118 pages
Refining Catalyst Market is expected to grow at a CAGR of 3.1% during the forecast period, Says market research future (MRFR). Catalysts for refineries are chemical components that are employed in the refining process to eliminate impurities such as nitrogen, metal contamination, and sulfur. These catalysts, which include zeolites, calcium carbonate, molybdenum, palladium, and zirconium, are employed alone or in combination to enhance the operational efficacy of petroleum. The increasing rate of refinery production in order to get additional petroleum products such as gasoline, high-octane fuel, kerosene, diesel, and polymers is boosting the demand for refining catalysts. The increasing need for fuel for transportation purposes is likely to drive the market's expansion. The market is being driven by increased investment in refineries and an increasing demand for higher octane fuel. This market's expansion can be due to the increased demand for petroleum derivatives. Additionally, demand for high-octane fuel is expected to drive the refinery catalysts market.
Some of the prominent players operating in the global Refining catalyst are Albemarle Corporation. W. R. Grace & Co., Haldor Topsoe A/S, Honeywell, Uop Llc., Criterion Catalysts & Technologies L.P, Axens Sa, BASF SE, China Petroleum & Chemical Corporation, Clariant International Ltd, and Johnson Matthey Plc among others.
Refining catalyst Share by Ingredients
Source: MRFR analysis
The global refining catalyst market is segmented into five regions: Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa.
Asia Pacific is the largest market and is expected to grow at an expanding CAGR during the assessment period. The presence of the most populated economies has augmented the demand for energy in the region, which is a significant factor driving the demand for refining catalyst in the region. Moreover, the rapid development of polymer manufacturing and refining companies in the region is affecting the market growth positively. Furthermore, the presence of the largest refinery in the region is also projected to drive the demand for refinery catalysts .
The Middle East is expected to grow at a steady CAGR owing to the growing oil and gas exploration activities.
The North American region is another dominant market for refinery catalyst. The recent shale gas boom in the region has boosted the demand for refinery catalyst mainly in the U.S. Moreover, the stringent regulations pertaining to the use of crude emission is significantly the revenue of the refinery catalyst market.
The global refining catalyst is segmented into a type, ingredients, and region. On the basis of the type, the market is segregated into Fluid Catalytic Cracking (FCC) Catalysts, hydroprocessing catalysts, catalytic reforming catalysts, and others. On the basis of the ingredients, the market is segregated into zeolites, metals, chemical compounds and others.
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
|Market Size||2030: Significant Value|
|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||Type, Ingredients|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Albemarle Corporation. W. R. Grace & Co., Haldor Topsoe A/S, Honeywell, Uop Llc., Criterion Catalysts & Technologies L.P, Axens Sa, BASF SE, China Petroleum & Chemical Corporation, Clariant International Ltd, and Johnson Matthey Plc|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global refining catalysts market is expected to expand at 4% CAGR from 2018 to 2030.
High demand for clean petroleum products is the major driver of the global refining catalysts market.
Hydrocracking catalysts can dominate in the ‘type’ segment in the global refining catalysts market.
The APAC region is estimated to contribute the maximum to the global refining catalysts market due to the massive demand for energy in developing economies.
Haldor Topsoe A/S, Axens Sa, Clariant International Ltd, W. R. Grace & Co., China Petroleum & Chemical Corporation, Albemarle Corporation, Johnson Matthey Plc, Honeywell, Uop Llc., BASF SE, and Criterion Catalysts & Technologies L.P are major players in the global refining catalysts market.