Refinery Catalysts Market worth $4.7 billion by 2025 | Key Players include Albemarle Corporation, W R Grace, BASF, Haldor Topsoe, Honeywell UOP

According to recent market research "Refinery Catalysts Market by Type (FCC Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, and Catalytic Reforming Catalysts), Ingredient (Zeolites, Metal, and Chemical Compounds), Region - Global Forecast to 2025", size is expected to grow from USD 4.0 billion in 2020 and USD 4.7 billion by 2025, at a CAGR of 2.9% during the forecast period. The major factors driving the refinery catalysts industry include a growing number of stringent regulations for vehicle emissions across the world and rising consumption of petroleum derivatives.

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The hydrocracking catalysts segment of the refinery catalyst market is projected to grow at the highest CAGR during the forecast period. These refinery catalysts have garnered industry-wide acceptance for their performance and general characteristics. Also, these catalysts do not produce coke as a by-product, thereby resulting in the improved conversion of feedstock. Thus, benefits associated with hydrocracking catalysts such as their ability to handle a wide range of feedstock materials, are anticipated to drive the growth of the hydrocracking catalysts segment.

APAC is the largest consumer and manufacturer of refinery catalysts globally. According to the BP Statistical Review of World Energy 2019, APAC’s total oil production was 7,633 thousand barrels per day (BPD) in 2018, with a global market share of 8.1%. APAC’s political and economic conditions have driven the market penetration of refinery catalysts.

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The global refinery catalysts market size is expected to grow from USD 4.0 billion in 2020 to USD 4.7 billion by 2025, at a CAGR of 2.9% during the forecast period. The major factors driving the market are the growing number of stringent regulations for vehicle emissions across the world and rising consumption of petroleum derivatives.

The major players in the refinery catalysts market include Albemarle Corporation (US), W R Grace (US), BASF (Germany), Haldor Topsoe (Denmark), Honeywell UOP (US), Clariant (Switzerland), Axens (France), Johnson Matthey (UK), China Petroleum and Chemical Corporation (Sinopec) (China), and Shell Catalyst & Technologies (Netherlands). These players have adopted various growth strategies to expand their presence in the market further. New product launch, joint ventures, and investment & expansion have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global refinery catalysts market.

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Albemarble Corporation is the largest player operating in the refinery catalysts market. The company has 31 manufacturing facilities, and 45 sales offices across the globe. The company offers a wide range of refining catalysts to various customers, such as Total S.A. (France), Chevron Corporation (US), INEOS Group Holding S.A. (UK) and Saudi Aramco (Saudi Arabia). The company has adopted new product launch and joint venture strategies to broaden its product portfolio and maintain its position in the market.

W.R.Grace is one of the largest producers of refinery catalysts in the world. The company offers refining, polyolefin, and other chemical catalysts through its Grace Catalyst Technologies business segment and has customers in 70 countries with operations in 30 countries The company has 15 manufacturing facilities in various regions, such as North America, Middle East & Africa, and APAC. In recent years, W.R.Grace has adopted joint venture business strategy to strengthen its position in the market, to maintain its leading position in the refinery catalysts market.

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