Press release
Heavy Oil Cracking Catalyst Market Opportunities and Forecast Assessment, 2017 – 2027
Heavy Oil Cracking Catalyst Market: Drivers and Restraints
Increasing scarcity of oil resources is one of the key factors driving demand of Heavy Oil Cracking Catalysts in coming years. These catalysts are required for improving light oil yield and efficiently utilizing existing oil resources. The primary source of air pollution are the olefins that exist in vehicle exhaust. Developing countries such as China and India will face issues regarding depleting petroleum reserves due to high economic growth. Also, increasing usage of petroleum products to cater to rising demand from manufacturing, industrial and transportation sectors is also anticipated to drive the demand for Heavy Oil Cracking Catalysts during the forecast. Cracking catalysts that reduce olefins in gasoline are anticipated to gain importance in coming years to comply with rigorous environmental protection standards being implemented by various government authorities. The demand for heavy oil cracking catalysts will also be fueled by expected technological up gradation and enhancement of existing equipment in the region. However, high operation and investment costs are two major restraints expected to negatively impact future demand for Heavy Oil Cracking Catalysts. Demand for gasoline in developed regions such as Europe and North America is declining and this may heavily impact Heavy Oil Cracking Catalyst industry growth in these regions.
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Heavy Oil Cracking Catalyst Market: Segmentation
On the basis of hydrocarbon type, the Heavy Oil Cracking Catalyst Market can be segmented into:
Vacuum Gas Oil (VGO)
Resid
Oil Sands
On the basis of application, the Heavy Oil Cracking Catalyst Market can be segmented into:
Cracking
Olefin reduction
Propene enhancement
Other additives
Heavy Oil Cracking Catalyst Market: Region Wise Outlook
The global Heavy Oil Cracking Catalyst Market is segmented into seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). As of 2017, the growth in developed regions such as Western Europe, Japan and North America will be driven by new product innovations that comply with strict government regulation owing to rising environment concerns across the globe. APEJ and Latin America regions are also expected to register a significant CAGR over the forecast period owing to strategically increasing investments in the petroleum refining sector to cater to the growing demand. MEA is also projected to expand with a significant CAGR over the forecast period due to expected future investments in the downstream sector to compliment huge oil reserves in the region.
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Examples of some of the market participants in the global Heavy Oil Cracking Catalyst Market identified across the value chain include:
Haldor Topsoe
China National Petrochemical Company
Axens
Johnson Mathey
CRI Catalyst Company
Süd-Chemie
Albemarle Corporation
Grace Davison, Inc
BASF SE
ExxonMobil Chemical
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