Press release
Refinery Catalyst Market 2019 Global Exclusive Analysis by Leading Players Review |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 Cor
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.
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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.
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.
Global Key Players:
BASF SE
Honeywell UOP LLC.
Criterion Catalysts & Technologies L.P.
Exxon Mobil Corporation
Clariant International Ltd
R. Grace & Co.
China Petroleum & Chemical Corporation
Axens SA, Albemarle Corporation
Haldor Topsoe A/S
Market Segmentation
MRFR's segmental analysis of the global refinery catalyst market has been performed based on type, ingredient, and region. By type, the market is segmented to include hydrotreating catalysts, FCC catalysts, hydrocracking catalysts, and catalytic reforming catalysts. Among these, the FCC catalysts segment account for the most significant share as FCC catalysts play a crucial role in the production of gasoline.
By ingredients, the market is segmented into metals, zeolites, and chemical compounds. The metals segment registers the largest share of the market due to the growing use of metals in hydrocracking and hydrotreating for filtration of impurities and production of harmful gases.
Globally, the refinery catalyst market is divided into North America, Europe, Asia Pacific and the Rest of the World.
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.
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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