Press release
Exploring the Global Hydrodesulfurization Catalys Market: A Comprehensive Overview
The hydrodesulfurization catalyst market size is expected to see strong growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increasing focus on renewable energy, transition to hydrogen economy, continued regulatory stringency, demand for sustainable catalysts, geopolitical shifts in energy markets, growing importance of biofuels.. Major trends in the forecast period include integration of nanotechnology, r&d for catalyst innovation, digitalization and process optimization, technological collaborations and partnerships, advancements in catalyst technologies..
Market Overview -
Hydrodesulfurization catalysts (HDS) refer to catalysts that are involved in carrying hydrodesulfurization process, a chemical process that organosulfur compounds are removed over heterogenous catalysts during the refinement of petroleum.
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Increasing Transportation Fuel Demand Drives Hydrodesulfurization Catalyst Market Expansion
The rising demand for transportation fuels is expected to propel the growth of the hydrodesulfurization catalyst market going forward. Transportation fuels are the energy sources that are used to power motor vehicles that use internal combustion engines. Gasoline/Petrol, Diesel, LPG (Liquefied Petroleum Gas), Jet fuel, and Marine fuel are various examples of transportation fuels. Hydrodesulfurization catalysts are used in crude oil refineries to remove harmful organosulfur compounds to create cleaner end products that are used as a 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 rise in demand for transportation fuel is driving the growth of the hydrodesulfurization catalyst market.
Competitive Landscape -
Major companies operating in the hydrodesulfurization catalys market report are Albemarle Corporation, Advanced Refining Technologies LLC, China Petroleum & Chemical Corporation, Haldor Topsoe Holding A/S, Shell PLC., PetroChina Company Limited, Axens SA, JGC C&C, Honeywell UOP, Johnson Matthey PLC., BASF SE, Clariant AG, Dorf Ketal Chemicals, ART Hydroprocessing, Repsol S.A, W R Grace & Co, Chiyoda Corporation, Sinopec Corp., Chevron Phillips Chemical Company, Redkino Catalyst Company, Criterion Catalysts & Technologies, CRI Catalyst Leuna GmbH, Mitsubishi Electric Corporation, Emerson Electric Co., General Electric Co., Texas Instruments Inc., Delta Catalysts, Denso Corporation, Delphi Automotive PLC, Noble Group Ltd. .
Chevron Phillips Hydrodesulfurization Unit Sparks Sustainability With Innovative Product Applications
The innovative use of hydrodesulfurization end products is a key trend gaining popularity in the hydrodesulfurization catalyst market. Major players are concentrating their efforts on formulating uses of hydrodesulfurization end products to gain profit and sustain their position in the market. For instance, in April 2022, Chevron Phillips Chemical Company LLC, a US-based company operating in chemical production, built a new hydrodesulfurization (HDS) to accelerate change for a sustainable future. The new HDS unit will promote circularity by converting sulfur, into hydrogen sulfide, a feedstock that will be utilized for the synthesis of mercaptans. Additionally, it will lower SO2 emissions and supply fuel for a new cogeneration unit, which generates steam and electricity for the facility.
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Key Segments -
The hydrodesulfurization catalys market covered in this report is segmented -
1) By Type: Cobalt-Molybdenum, Nickel-Based, Other Types
2) By Feedstock: Natural Gas, Naphtha, Heavy Oil, Diesel Oil, Kerosene, Other Feed Stocks
3) By End Use Industry: Petrochemicals, Natural Gas Processing
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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