Press release
FCC Catalyst Global Market Report 2024 - By Share, Size, Growth, Trends, Forecast To 2033
FCC Catalyst Market
The fcc catalyst market size is expected to see strong growth in the next few years. It will grow to $3.61 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing complexity in feedstocks, transition to sustainable catalysts, focus on residue upgrading, optimization for propylene production, market penetration in developing regions.. Major trends in the forecast period include integration of artificial intelligence, enhanced catalyst regeneration technologies, collaboration for research and development, digitalization and process optimization, adoption of bottom-of-the-barrel technologies.
Market Overview -
Fluid catalytic cracking (FCC) is a type of processing unit used in oil refineries to produce additional gasoline while the refining process is being carried out. It is a chemical process that splits long-chain hydrocarbons into shorter-chain hydrocarbons by using a catalyst and heat. Fluid catalytic cracking (FCC) catalyst increases the rate of chemical reaction, which lowers the activation energy in the petroleum refining process.
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Surging Petroleum Demand Fuels Fcc Catalysts Market Growth
The growing demand for petroleum-based products is contributing to the growth of FCC catalysts going forward. Petroleum products refer to the complex mixture derived from crude oil, which has similar physical and chemical properties. Fluid catalytic cracking (FCC) catalyst increases the rate of the chemical reaction, which lowers the activation energy in the petroleum refining process. In these processes, FCC catalyst solutions are used to transform high-boiling, high-molecular-weight hydrocarbon fractions of petroleum crude oils into valuable petroleum products, including olefinic gases, gasoline, and other items. For instance, in November 2021, according to the US Energy Information Administration, a US-based Department of Energy statistical agency, the United States produced over 11.8 million barrels per day of crude oil. Therefore, the growing demand for petroleum-based products is driving the growth of the FCC catalyst market.
Competitive Landscape -
Major companies operating in the fcc catalyst market report are Axens SA, N.E. Chemcat, Porocel Corporation, Yueyang Sciensun Chemical Co. Ltd., DuPont de Nemours Inc., Magma Ceramics & Catalysts, Albemarle Corporation, W.R. Grace Company, Johnson Matthey, Flour Corporation, Shell plc, Honeywell International Inc., Exxon Mobil Corporation, McDermott International Ltd, Arkema S.A., BASF SE, Sinopec Corporation, China National Petroleum Corporation, Clariant AG, Haldor Topsoe, JGC C&C, Zeolyst International, Versalis, Nanjing Lantian Chemical, Jilin Petrochemical Company, Qingdao Huadong Catalytic Agent Co. Ltd., Fushun Shuntian Petrochemical, Rive Technology, Wuxi Xuelang Chemical Technology, Ecopetrol S.A., Nippon Ketjen Co. Ltd., Sumitomo Chemical Co. Ltd., Universal Oil Products, Johnson Matthey Davy Technologies, PetroChina Catalyst Company, Shell Catalysts & Technologies, Grace Catalysts Technologies .
Fcc Catalyst Market Embraces Innovation With Advanced Technologies
Technology advancements are a key trend gaining traction in the FCC catalyst market. Major market players in the fluid catalytic cracking sector are focused on technological advancement to sustain their market positions and on launching new technologies to improve their product offerings. For instance, in March 2022, BASF, a German-based company that offers fluid catalytic cracking (FCC) catalysts and systems for refinery catalysts, launched FourtitudeTM, a new fluid catalytic cracking (FCC) catalyst designed to maximize butylenes from reside feedstocks. Fourtitude, the latest product based on BASF's award-winning multiple framework topologies (MFT) technology, is optimized to deliver superior selectivity to butylenes while maintaining catalyst activity.
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Key Segments -
The fcc catalyst market covered in this report is segmented -
1) By Product: Gasoline Sulfur Reduction, Maximum Bottoms Conversion, Maximum Light Olefins, Maximum Middle Distillates, Other Products
2) By Application: Residue, Vacuum Gas Oil, Other Applications
3) By End-User: Refinery, Environmental, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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