Press release
Worldwide Refinery, Re-Refinery, And Bio Fuel Catalysts Market To Reach US$8.5 Bn By 2022
According to the research study, the global refinery, re-refinery, and bio-fuels catalysts products market stood at US$4.6 bn in 2015. Analysts anticipate this market to reach a value of US$8.5 bn by the end of the forecast period.
This 36-page research report presents a detailed assessment of the worldwide refinery, re-refinery, and bio-fuels catalysts market, taking various industry verticals such as the market chain structure, the sales dynamics, latest trends, driving forces, restrictions, opportunities, and future projections into consideration.
The expanding application areas of new refinery catalysts represents a breakthrough in the provision of value to refineries. Customization of catalysts has provided the opportunity to restructure the refinery business without any additional investment in infrastructure. The growing demand for new materials as well as new designs has led market players to innovation, ensuring a significant rise in the refinery catalysts segment, states the market report.
The report further talks about the performance of the re-refinery catalysts segment. According to the study, the maturation of the technology and the value achieved from the re-utilization of motor oil are projected to boost the demand for re-refining catalysts over the forecast period. However, the demand for crude oil re-refinery catalysts is unlikely to register a steady growth in the coming years on account of the saturation in the market.
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Vendors in this market are focusing on customizing catalysts to provide their clients with improved value associated with a particular usage pattern in a specified locality, notes the study.
The biofuel catalysts segment has also been discussed at length in this research report. Analysts predict this segment to exhibit the strongest growth during the forecast period. The huge availability of feedstock has been propelling the need for refining biofuels, leading to the significant growth of the biofuel catalysts segment. In addition to this, the increase in concerns over environmental pollution is expected to fuel the demand for these catalysts worldwide during the forecast period.
The research report also presents an assessment of the competitive landscape prevalent in the global market for refinery, re-refinery, and bio-fuels catalysts by profiling the major players functioning in this market. As per the research study, Haldor Topsoe and Grace are the leading participants in the worldwide refinery, re-refinery, and bio-fuels catalysts market.
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