Press release
Refinery Catalyst Market to Hit USD 14.55 billion by 2032 with 5.60% CAGR Growth
The global refinery catalyst market was valued at USD 8.83 billion in 2023 and is expected to grow to USD 14.55 billion by 2032, exhibiting a CAGR of 5.60% between 2024 and 2032.
๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ
Refinery catalysts refers to chemical compounds which accelerate the conversion of reactants to products specifically crude oil to various petroleum products without getting involved in the chemical reaction. It lowers the activation energy of the reactants in order to overcome the energy barrier and facilitates for easy conversion into products.
Refinery catalysts are employed in the petroleum industry to reduce the emission of pollutants due to the strict environmental regulations kept in place. During the process of refining, refinery catalysts make get inactive due to the deposition of impurities such as Nickel and sulphur, resulting in the deactivation of catalysts known as "spent catalysts". To remove this hazardous layer, catalytic refiners are used.
๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ:
https://www.polarismarketresearch.com/industry-analysis/refinery-catalyst-market/request-for-sample
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ
โข Increasing demand for fuels and chemicals is driving the usage of refinery catalysts. A surging population growth rate calls for production of various types of petroleum products for consumption in the form of fuel for automobiles or use of fossil fuels in the industrial sector
โข Another requirement for the widespread usage of refinery products is the due to concern regarding emission of harmful pollutants in the atmosphere due to the refining of crude oil. Refinery catalysts help in reducing the toxicity of the entire process, producing petroleum products with minimal damage to the environment.
๐๐๐ฃ๐จ๐ซ ๐๐๐ซ๐ญ๐ข๐๐ข๐ฉ๐๐ง๐ญ๐ฌ
The petroleum sector has always been a lucrative option with petroleum being labelled as liquid gold due to the monetary benefits that come along with its production. Many established companies are looking for environment friendly ways of refining crude oil which can be done with the use of refinery catalysts.
โข Chevron Corporation
โข Exxon Mobil Corporation
โข Evonik Industries AG
โข DuPont
โข Haldor Topsoe A/S
โข Albemarle Corporation
โข BASF SE
โข Johnson Matthey Plc
โข W. R. Grace
โข Clariant International Ltd.
โข Arkema
โข Zeolyst International
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐ฆ๐จ๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐:
https://www.polarismarketresearch.com/industry-analysis/refinery-catalyst-market/inquire-before-buying
๐๐ฅ๐จ๐๐๐ฅ ๐๐๐๐ข๐ง๐๐ซ๐ฒ ๐๐๐ญ๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ
โข The Zeolites segment is expected to experience the fastest growth in the coming years. Zeolites are microporous materials that have a unique crystalline structure, which makes them ideal for use in catalysts.
โข The FCC Catalysts segment accounted for the largest market share in 2022. FCC (Fluid Catalytic Cracking) catalysts are widely used in the petroleum refining industry for the production of gasoline and other fuels.
โข The demand for refinery catalysts in North America is expected to witness significant growth in the coming years. The growth in demand can be attributed to the increasing demand for cleaner and more efficient fuels, as well as the expansion of the petroleum refining industry in the region.
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
โข The refinery catalyst market is segmented based on product, application and region
โข Based on product, the segment is categorized into chemical compounds, zeolites, metallic, and others. The zeolite segment outranked all other categories in terms of adoption rate.
โข The application segment is categorized into FCC catalysts, catalytic reformers, hydrocracking catalysts among others. FCC catalysts had the largest market share.
Refinery Catalyst Market, Product Outlook (Revenue - USD Billion, 2019-2032)
โข Chemical Compounds
โข Zeolites
โข Metallic
โข Others
Refinery Catalyst Market, Application Outlook (Revenue - USD Billion, 2019-2032)
โข FCC Catalysts
โข Catalytic Reforming
โข Hydrocracking Catalysts
โข Hydrotreating Catalysts
โข Alkylation Catalysts
โข Others
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐ก๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฉ๐จ๐ซ๐ญ:
https://www.polarismarketresearch.com/industry-analysis/refinery-catalyst-market
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
Refinery Catalyst Market, Regional Outlook (Revenue - USD Billion, 2019-2032)
๐น ๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐
โฝ Product Outlook
ยป Chemical Compounds
ยป Zeolites
ยป Metallic
ยป Others
โฝ Application Outlook
ยป FCC Catalysts
ยป Catalytic Reforming
ยป Hydrocracking Catalysts
ยป Hydrotreating Catalysts
ยป Alkylation Catalysts
ยป Others
๐น ๐๐ฎ๐ซ๐จ๐ฉ๐
โฝ Product Outlook
ยป Chemical Compounds
ยป Zeolites
ยป Metallic
ยป Others
โฝ Application Outlook
ยป FCC Catalysts
ยป Catalytic Reforming
ยป Hydrocracking Catalysts
ยป Hydrotreating Catalysts
ยป Alkylation Catalysts
ยป Others
๐น ๐๐ฌ๐ข๐ ๐๐๐๐ข๐๐ข๐
โฝ Product Outlook
ยป Chemical Compounds
ยป Zeolites
ยป Metallic
ยป Others
โฝ Application Outlook
ยป FCC Catalysts
ยป Catalytic Reforming
ยป Hydrocracking Catalysts
ยป Hydrotreating Catalysts
ยป Alkylation Catalysts
ยป Others
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Polypropylene Market:
https://www.linkedin.com/pulse/polypropylene-market-shaping-future-sustainable-i6g7f
Shea Butter Market:
https://www.linkedin.com/pulse/shea-butter-market-boom-rise-natural-sustainable-endvf
High Purity Silica Sand for Solar Cell Market:
https://www.linkedin.com/pulse/high-purity-silica-sand-key-efficient-solar-23m8f
Automotive Plastics Market:
https://www.linkedin.com/pulse/automotive-plastics-market-evolution-key-drivers-ht0of
๐๐จ๐ง๐ญ๐๐๐ญ:
Likhil G
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๐๐๐จ๐ฎ๐ญ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก & ๐๐จ๐ง๐ฌ๐ฎ๐ฅ๐ญ๐ข๐ง๐ , ๐๐ง๐:
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Refinery catalysts are used in petroleum refining operations to facilitate and accelerate chemical reactions for conversion of crude oil into useful petroleum products like gasoline, diesel, jet fuel etc. Without catalysts, refining processes would be inefficient or not commercially viable.
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