Refinery Catalyst Global Market Report 2024 - By Growth, Size, Share, Trends, Forecast To 2033

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Refinery Catalyst Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The refinery catalyst market size has grown strongly in recent years. It will grow from $5.88 billion in 2023 to $6.19 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to petroleum-based products, increasing demand for transportation fuel and rise in oil and gas exports..

The refinery catalyst market size is expected to see strong growth in the next few years. It will grow to $7.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to high octane fuel, growing petrochemical industry and increasing demand for energy. Major trends in the forecast period include launch of hydro processing catalyst solutions, focus on increasing their investments to develop new product solutions and to meet the growing market demand for refinery catalysts, focus on developments in advanced fluid catalytic cracking (fcc) catalysts, focus on strategic acquisitions and collaborations to improve their financial strength, strengthen their product portfolio and expand their geographical presence, focus on use of hydroflex technology in refining to produce renewable diesel and focus on catalysts that play a crucial role in reducing emissions and developing cleaner energy sources..

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Key Market Players:
Major companies operating in the refinery catalyst market report are Exxon Mobil Corporation, Royal Dutch Shell, China Petroleum & Chemical Corporation, BASF SE, Honeywell International,Chevron Corporation, W. R. Grace & Co, Albemarle Corporation, Arkema, Clariant International Ltd., Sinopec Catalyst Company, Tokuyama Corporation, Nippon Ketjen, S-Oil Catalyst, Qingdao Eno Chemicals, Hindustan Platinum, Dorf Ketal, AB Enterprises, Haldor Topsoe, Johnson Matthey, Axens, INEOS, Clal France, Zeochem AG, MOL Group, Evonik Industries AG, Metalor, Umicore, Heranius, NIS a.d. Novi Sad, OMV Group, Grupa LOTOS S.A, Rosneft, Unipetrol Group, Polimer Sp. z o.o, PolyComp s.r.o, RESINEX Czech Republic, Tecomelt s.r.o, CRI Catalyst Company, Unicat Catalyst Technologies, Grace Catalysts Technologies, INNOSPEC Limited, Fortuna Silver Mines Inc, Mottcorp

Market Drivers:
The increasing demand for transportation fuel is expected to propel the growth of the refinery catalysts market going forward. Transportation fuels are the energy sources that are used to power motor vehicles that use internal combustion engines. Refinery catalysts are used in petroleum refineries to convert crude oil into commercial products such as transportation fuels, engine fuels, and heating fuels by increasing chemical reactions to reduce heavy metals and harmful organic compounds to create cleaner end products that can be used as transportation fuel. For instance, according to the Energy Information Administration (EIA), a US-based federal agency for collecting, analyzing, and disseminating energy information, petroleum products accounted for about 90% of the total U.S. transportation sector energy use in the year 2021, which gasoline is the dominant transportation fuel followed by distillate fuels such as diesel fuel and jet fuel. Therefore, the increased demand for transportation fuel is driving the growth of the refinery catalysts market.

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https://www.thebusinessresearchcompany.com/report/refinery-catalyst-global-market-report

The refinery catalyst market covered in this report is segmented -
1) By Type: FCC (Fluid Catalytic Cracking) Catalyst, Hydro Treating Catalyst, Hydro Cracking Catalyst, Catalytic Reforming Catalyst, Other Types
2) By Ingredient: Zeolites, Metals, Chemical Compounds
3) By Application: Oil Refineries, Chemical Synthesis, Polymer Manufacturing, Other Applications

The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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