Refinery Catalyst Market Trends by Key Players: Shell, Criterion Catalysts & Technologies, BASF, Albemarle, Honeywell, Haldor Topsoe, Johnson Matthey

Refinery catalyst market has been fragmented on the basis of type, material and region. The different product types include fluid catalytic cracking (FCC), alkylation, reforming & isomerization, hydro processing, and others. Among all, FCC product will hold nearly one-third of the total product market throughout the forecast span. FCC product break heavy gas oil range feeds into smaller molecules in the presence of heat. It is used for the production of gasoline in refining process. Majorly used material for FCC product is zeolite with some amount of rare earth metals.

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Based on materials, the product industry is classified into zeolite, metal, chemical compound and others. Metal based catalysts will account for over 35% of the global refinery catalyst market in 2025. Molybdenum, vanadium, nickel, cobalt and other noble and rare earth metals are among the metals used for metal-based refinery catalysts. These are majorly used in hydroprocessing catalysts as these are useful to eradicate impurities and reduce the emission of toxic and hazardous gas into the environment.

The growing concerns regarding increased emissions from fossil fuel combustion is one of the pivotal driving forces of refinery catalyst market. Reportedly, the usage of fossil fuels has been increasing tremendously from last few decades, on account of which catalysts have been extensively used to refine petroleum products such as diesel, kerosene, and petrol from crude oil, which comprises sulfur as a major content in its derivative products. Considering the impact that the extraction of sulfur from petroleum derivatives has on the environment, some of the regional governments have deployed strict regulatory norms to curb CO2 as well as SOx emissions. In order to comply with the regulatory framework, many of the giants in oil and refinery sector are looking forward to renovating the existing refinery facilities – a move that is significantly stimulating refinery catalyst industry share.

Taking into account the benefits of catalytic cracking, most of the refinery catalyst market giants have been working to commercialize the usage of various catalysts in crude oil refining processes. Validating the abovementioned fact, a few days before, Velocys plc collaborated with PQ Corporation – supposedly a well-known provider of specialty materials, services, chemicals, and catalysts to various petrochemical companies and refineries. Through the strategic deal, Velocys’s proprietary Fischer-Tropsch catalyst will be supplied to numerous biorefineries. PQ will also be manufacturing the catalyst to be used by Velocys’s biorefinery projects that the company is involved in, alongside various industry partners. This seems to have prompted regional governments to support biorefineries and encourage them to invest in next-generation refinery projects.

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Saudi Arabia refinery catalyst market will generate revenue over USD 135 million in 2025 as the country is the largest producer of petroleum products in Middle East and Africa region, contributing to nearly 90 million tons per annum. In 2018, Saudi Aramco, the state oil company of Saudi Arabia, and Total signed an agreement for the expansion of their joint venture refinery SATORP in Saudi Arabia. This will increase the refinery catalyst demand in this region in coming years.

Key players in the refinery catalyst industry which holds the major market chunk include Shell, Criterion Catalysts & Technologies, China Petroleum & Chemical Corporation (Sinopec), Haldor Topsoe, Johnson Matthey, BASF, Albemarle, and Honeywell Uop.

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