Comprehensive analysis on Refinery Catalyst Market Growth | Key Players are: Honeywell UOP, Albemarle, Royal Dutch Shell, Haldor Topsoe, W. R. Grace & Co, Clariant, BASF and Axens

Global Refinery Catalyst Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2025. Refinery Catalyst Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Refinery Catalyst market and provides information regarding the revenue for the period 2020 to 2025.

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Global oil rig count fell from 3,570 in 2014 to 1,969 in 2015 and further dropped to 1,772 by the end of 2016. Refinery Catalyst Market is likely to cross USD 5.5 billion by 2025.

The product help refiners to meet operational efficiency, manage fuel standards, without affecting the environment. Shrinking fuel quality standards includes reduction of benzene, olefins, etc. to shift towards fuels that are extremely low in sulfur content, which has escalated demand of catalyst for chemical synthesis.

Product variants consist of hydro processing, alkylation, reforming and isomerization and FCC (fluid catalytic cracking). Among these, alkylation catalyst market is expected to grow with a CAGR of more than 3% for the forecast spell. These catalysts are mainly used to convert low-molecular-weight alkenes such as a mixture of butene and propene along with isobutane into alkylate.

On materials basis, refinery catalysts market is subdivided into chemical compound, zeolite, metal and others. In terms of revenue, the chemical compound segment is expected to grow with a CAGR of more than 2% by 2025. Sulfuric acid, hydrofluoric acid and other chemicals compounds are suitably used as chemicals compounds-based catalysts. Chemicals compounds are immensely used in alkylation processes that is likely to propel its demand in the coming years.

The revival of global oil and gas industry plays a noteworthy role in the product market. The increasing number of oil and rigs will increase the refined petroleum products which will further propel the refinery catalyst market by the end of 2025. Entire oil and gas rig count witnessed a massive fluctuation in the past couple of years with record low prices and weakening demand. Refinery catalysts are employed in various processes that include isomerization, reforming, desulfurization, catalytic cracking, etc.

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Availability and fluctuating raw material prices may hamper the product market growth during the projected timespan. The production of refinery catalyst includes eminent usage of unique earth metals such as vanadium, tungsten, molybdenum, etc. which are available at very few locations globally. This will restrict the product market growth in future.

Europe refinery catalyst market will clutch more than 20% of the revenue share in future due to the presence of petrochemical industry and refineries in many European countries. Middle East and Africa will grow with the CAGR of over 4% in future owing to the extensive production of crude oil and gas.

Major competitors of refinery catalyst market include Honeywell UOP, Albemarle, Royal Dutch Shell, Haldor Topsoe, W. R. Grace and Co, Clariant, BASF and Axens, Johnson Matthey. These companys emphasis product advancement to upsurge the refinery productivity under severe environmental regulations.

Refinery catalyst market research report includes in-depth coverage of the industry with estimates and forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:

Refinery Catalyst Market, By Material
o Zeolite
o Metal
o Chemical compound
o Others

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