Refinery Catalyst Market Trend with Global Foresight 2023 by 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 (Sinopec Corp

Market Insights

Market Research Future has added a new report on the global refinery catalyst market which reveals that the market is set to grow at a CAGR of more than 4% during the forecast period of 2017 to 2023. Moderate yet consistent growth is expected by the market due to growing oil and gas activities across the globe.

Refinery catalysts are extensively utilized in refinery processes such as FCC, hydrocracking, and other. refinery catalysts are vital in the conversion of crude oil to more valuable forms of fuel. The growing demand for gasoline particularly in emerging economies is expected to impact the global market positively. Government bodies in developed economies are increasingly implementing stringent regulations with regards to environment conservation and fuel. The extraction of heavier crudes and ever-increasing energy demands have resulted in increased refinery activities thus driving the demand for refinery catalysts.

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Refiners are building new refinery units or renovating existing facilities to meet the growing demand for fuel. Moreover, refinery catalyst manufacturers are actively engaged in offering customers with cutting-edge refining components. Ongoing R&D toward the production of optimized refinery catalysts are vital in the creation of future market opportunities.

Scope of the Report:

This study provides an overview of the global refinery catalyst market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global refinery catalyst market by its type, by application, by regions.

By Type

• FCC Catalysts
• Hydrotreating Catalysts
• Hydrocracking Catalysts
• Catalytic Reforming Catalysts

By Ingredient

• Zeolites
• Metals
• Chemical compounds

By Regions

• North America
• Asia Pacific
• Europe
• Rest of the World

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Regional Analysis

The Asia Pacific leads the market with the highest growth due to the presence of various emerging economies in the region with rapidly rising demand for fuel. Countries such as India and China among others have massive consumer populations and a swiftly expanding automotive industry among others. The demand for energy and fuel in the region to power homes, vehicles and the industrial hub that the region has become has catapulted the region into leading position. Growing construction of refinery infrastructure is another key factor driving the regional market.

The North American market closely follows the Asia Pacific. The U.S leads the region's growth and has a significant demand for fuel and crude oil by-products. The presence of several key players in the region add to the regions growth drivers and cement its position as a leading regional market.

Key Players

Prominent players participating in the global refinery catalyst market include BASF SE, Honeywell UOP LLC., Criterion Catalysts & Technologies L.P., Exxon Mobil Corporation, Clariant International Ltd, W. R. Grace & Co., China Petroleum & Chemical Corporation (Sinopec Corp.), Axens SA, Albemarle Corporation, and Haldor Topsoe A/S. These players have been extensively analyzed, and their market strategies have been recorded in MRFRs report.

Latest Industry News

• BASF has launched its new FCC catalysts, Luminate. The Luminate FCC catalyst delivers higher liquid yields and is based on BASF's new and improved Zeolite Y (IZY) technology.

• Fuji Oil has commenced use of Honeywell UOPs new R364 Platforming catalyst for the increased production of aromatics for chemical production at its plant in Japan.

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