Refinery Catalyst Market Demand and Supply Analysis 2018 | Top Companies - 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

Global Refinery Catalyst Market - Overview

Refining Catalysts is primarily used in petroleum refineries to improve throughput. It helps refiners meet fuel standards, achieve operational efficiency, improve conversion and selectivity and keep pace with environmental trends. It is applied in different processes such as FCC, hydrotreating, hydrocracking, and catalytic reforming.

According to a recent study report published by the Market Research Future, The global market of Refinery Catalyst is booming and expected to gain prominence over the forecast period. The Global Refinery Catalyst Market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR of 4% during the estimated period (2017 – 2023).

Harsh environmental guidelines and demand for high octane number are pouring the growth of the refinery catalysts market. Additionally, swelling demand for transportation fuels as well as growing demand for petroleum derivatives is also increase the consumption of refinery catalysts. However, factor such as high production price and falling crude oil reserves are performing as key challenges to the growth of the Refinery Catalyst Market.

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Industry News

In February 2018, BASF the German multinational group announced the launch of Boroflex, the latest evolution of its residuum (resid) oil Fluid Catalytic Cracking (FCC) catalysts for the refining market.

In November 2017, BASF the German maultinational group announced the launch of Fortress NXT, the next generation of the industry leading Fortress Fluid Catalytic Cracking (FCC) catalyst for heavy residuum (resid) oil feedstock applications for the Refining Market.

Albemarle Corporation announced that it completed an agreement with Akzo Nobel N.V. to acquire its catalyst business, a leader in the production of petroleum refining catalysts, for 625 million euros in cash, subject to the advice of Akzo Nobel's Works Council and the approval of regulatory authorities.

Refinery Catalyst Market - Segmentation

Global Refinery Catalyst Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.

Segmentation:

On the Basis of Type, market is segmented into FCC Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, and Catalytic Reforming Catalysts. FCC catalysts play a key role for translating of heavy atmospheric residues and vacuum distillates into fractions of motor fuels, mostly gasoline. The demand for FCC catalysts from the Refining Industry in developing countries, like India and China, and stringent environmental rules are key factors pouring the growth of the FCC catalysts segment. The hydrocracking catalysts segment is expected to be the highest growing type segment of the Refinery Catalyst Market.

On the basis of Ingredient, market is segmented into Zeolites, Metals, and Chemical Compounds. The metals segment accounted for the largest share of the Refinery Catalyst Market in 2016. The growth can be attributed to the growing use of metals for hydrocracking and hydrotreating to eradicate undesirable impurities and production of dangerous gases into the environment.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

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