Hydrodesulfurization Catalysts Market Development and Trends Forecasts Report 2021-2031
• Hydrodesulfurization is a chemical process that is used in the oil refining industry. It is widely used to remove sulfur compounds from refined petroleum products such as diesel fuel, jet fuels, gasoline or petrol, and fuel oils.
• Removal of sulfur helps reduce the hazardous sulfur dioxide emissions resulting from using those fuels in oil burning power plants, automotive vehicles, railroad locomotives, aircraft, ships, residential and industrial furnaces, and other forms of fuel combustion
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Key Drivers and Restraints of Hydrodesulfurization Catalysts Market
• Crude oil is base for many products such as gasoline and jet fuels. It contains a complex mixture of sulfur compounds such as sulfides and disulfides. Hydrodesulfurization process removes the sulfur and hydrogen sulfide (H2S) gas formed after the reaction of sulfur gases with the help of hydrodesulfurization catalysts. Increase in manufacture of these crude oil-based products is boosting the hydrodesulfurization catalysts market.
• Global refiners are expected to maximize their capabilities to produce low-sulfur fuel oil. This, in turn, is driving the hydrodesulfurization catalysts market.
• Increase in regulations concerning environmental pollution and adoption of cleaner fuels with less emission are expected to drive the demand for hydrodesulfurization catalysts
• Rise in global demand for transportation fuels is anticipated to be a primary driver of the global hydrodesulfurization catalysts market
• High production cost of sulfur-free fuels vis-à-vis conventional fuels is estimated to hamper the hydrodesulfurization catalysts market
COVID-19 Impact on Hydrodesulfurization Catalysts Market
• On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
• The COVID-19 pandemic has negatively impacted the demand and supply chains worldwide. Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This has hampered the hydrodesulfurization catalysts market.
• The pandemic has severely affected the oil & gas sector, where hydrodesulfurization catalysts are extensively used. Decrease in demand for refined products, varying crude oil prices, and failed agreements regarding production have adversely affected the hydrodesulfurization catalysts market.
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North America Holds Leading Share of Hydrodesulfurization Catalysts Market
• In terms of region, the hydrodesulfurization catalysts market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America accounted for major share of the global hydrodesulfurization catalysts market in 2020. It was followed by Asia Pacific and Europe.
Hydrodesulfurization Catalysts Market Segmentation, by Type
• Based on type, the global hydrodesulfurization catalysts market can be divided into cobalt- molybdenum hydrodesulfurization catalysts and nickel-based hydrodesulfurization catalysts
• The cobalt-molybdenum segment holds major share of the global market in terms of revenue. Cobalt-molybdenum based hydrodesulfurization catalysts are recognized as excellent catalysts for sulfur removal from naphtha, diesel, and natural gas. They possess various properties such as high-octane occupancy, high activity, and fuel impregnation.
• Demand for nickel-based catalysts is expected to be high in the near future due to their properties such as thermal stability, high activity, increased pore space, and improved hydro refining. Thus, they are suitable for removal of sulfur content from crude oil & its distillates.
Hydrodesulfurization Catalysts Market Segmentation, by Application
• Based on the application, the diesel segment was the key segment of the global market in terms of revenue in 2020
• Diesel is manufactured by hydrodesulfurization process to remove the sulfur present in it. The use of sulfur-free diesel has become a trend across the globe. Demand for hydrodesulfurization catalysts is increasing due to the rise in regulations on sulfur emissions from the combustion of diesel fuel.
• Oxygen, nitrogen, sulfur, and several other impurities in naphtha are observed to be poisonous for platinum catalyst activities. Therefore, the removal of these impurities is a key concern for manufacturers. This is driving the demand for hydrodesulfurization catalysts.
• The excess sulfur present in the natural gas is eliminated with the help of hydrodesulfurization catalysts
• Hydrodesulfurization catalysts are also used to remove the excess sulfur from marine fuels, jet fuels, etc.
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