Press release
Refinery Catalyst Market is Thriving Worldwide 2025 | BASF SE, Clariant AG, Royal Dutch Shell, Axens SA, Dorf-Ketal Chemicals India Pvt. Ltd, Exxon Mobil Corporation, Unicat Catalyst Technologies, Inc., Haldor Topsoe
The Refinery Catalyst market research report available on Market Study Report, LLC, offers a comprehensive study on the current industry trends. The report also offers a detailed abstract of the statistics, market valuation, and revenue forecast, which in addition underlines the status of the competitive spectrum and expansion strategies adopted by major industry players.Global refinery catalyst market is projected to cross USD 5.5 billion by the year 2025. Resurgence of global oil & gas industry has boosted the demand for refinery catalysts. Increasing usage of refined petroleum products coupled with the extensive utilization of catalysts in various processes including isomerization, reforming, desulfurization, and catalytic cracking are augmenting the growth of refinery catalyst market. These materials help in maintaining operational efficiency and managing fuel standards without affecting the environment. Shifting preference for sustainable practices and increasing use of fuels with extremely low sulfur content are other factors boosting the demand for refinery catalysts.
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Elaborating on the material scope, the market is categorized into zeolite, metal, and chemical compound. Chemical compound segment is projected to grow with a CAGR of 2% through 2025, on account of their extensive use in alkylation processes.
Based on the type, refinery catalyst market is classified into fluid catalytic cracking, hydroprocessing, alkylation, and reforming & isomerization. Alkylation segment is expected to grow with 3% CAGR over the forecast timeline, owing to crucial application of refinery catalyst in converting low molecular weight alkenes and isobutane into alkylate.
Considering the geographical landscape, refinery catalyst market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is presumed to account for 20% revenue share of refinery catalyst market in the coming years due the presence of a well-established petrochemical industry and numerous refineries across the region. Meanwhile, Middle East & Africa market is slated to expand with a CAGR of 4% over 2019-2025, owing to massive crude oil & gas production in the region.
On the reverse, low availability of unique earth metals such as vanadium, molybdenum, and tungsten, along with the volatile prices of raw materials may hamper the market growth during the forecast period.
Prominent players of refinery catalyst market include Exxon Mobil Corporation, Unicat Catalyst Technologies, Inc., Haldor Topsoe, China Petroleum & Chemical Corporation (Sinopec Corp.), Albemarle Corporation, W. R. Grace & Co, Johnson Matthey, Honeywell UOP, BASF SE, Clariant AG, Royal Dutch Shell, Axens SA, Dorf-Ketal Chemicals India Pvt. Ltd., Pingxiang Chempack Imp & Exp Co., Ltd., and JGC Catalysts and Chemicals Ltd.
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Frequently Asked Questions (FAQ) :
What are the key growth promoters of refinery catalyst market?
Increasing usage of refined petroleum products coupled with the extensive utilization of catalysts in various processes including isomerization, reforming, desulfurization, and catalytic cracking are augmenting the growth of refinery catalyst market.
Why are refinery catalysts used in alkylation process?
Crucial application of refinery catalyst in converting low molecular weight alkenes and isobutane into alkylate in the alkylation process is aiding the product adoption.
Will Europe emerge as lucrative growth avenue for refinery catalyst market?
Europe market is presumed to presumed to grow modestly due the presence of a well-established petrochemical industry and numerous refineries across the region.
Will Europe emerge as lucrative growth avenue for refinery catalyst market?
Europe market is presumed to presumed to grow modestly due the presence of a well-established petrochemical industry and numerous refineries across the region.
Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Refinery Catalyst Industry Insights
Chapter 4. Refinery Catalyst Market, Type By Material
Chapter 5. Refinery Catalyst Market, By Material
Chapter 6. Refinery Catalyst Market, By Region
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