Refinery Catalyst Market Trends, Analysis by Key Manufacturers, Production Overview, Recent, Trends, Growth, And Regional Outlook and Forecast 2019-2023
Jul 11, 2019
Refinery catalysts find extensive application in crude oil purification. Without refinery catalysts, production of gasoline and petrolium is extremly diffidult
Pune, India - July 11, 2019 /MarketersMedia/ —
Market Insights:
Refinery catalysts are a sought-after industrial material that find extensive application in processes such as catalytic reforming, hydrocracking, hydrotreating, FCC, among others. Refinery catalysts find extensive application in crude oil purification. Without refinery catalysts, production of gasoline and petrolium is extremly diffidult. According to a study conducted by Market Research Future (MRFR), the global refinery catalyst market is set to witness an impressive growth over the next several years. It is projected that the market will post a CAGR of 4% between 2017 and 2023.
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Factors such as heavier crudes and feedstock, rising stringency in fuel and enviromental regulations, and growing energy consumption are prompting refiners to adopt effective refinery processes. This is influencing the global refinery catalyst market. Rise in demand for fossil fuel and petrolium derivative along with stricter purification norms have provide an impetus to the refinery catalysts market. Nonetheless, exhausting crude oil reserves and fluctuation in fuel prices continues to impact the market.
Competition Analysis
China Petroleum & Chemical Corporation (Sinopec Corp.)
Albemarle Corporation
Haldor Topsoe A/S
Criterion Catalysts & Technologies L.P.
Exxon Mobil Corporation
Top of Form BASF SE
R. Grace & Co.
Clariant International Ltd
Axens SA
Honeywell, Uop LLC.
Global Refinery Catalyst Market: Segmental Analysis
MRFR’s report includes a comprehensive segmental analysis of the market based on type, ingredient and region.
Based on type, the market has been segmented into hydrotreating catalysts, catalytic reforming catalysts, FCC catalysts and hydrocracking catalysts. The FCC catalyst segment accounts for the largest market share intems of revenue. FCC catalysts play a crucial part in altering critical atmospheric residue and vacuum distilation of elements of vehicle fuels, particularly gasoline. Demand for FCC catalysts is concentrated in the refining industry. Devalopment of new oil refineries in countries such as China and India couple with the introduction of stricter regultions on oil purification is driving the growth of the segment.
Based on ingredient, the market has been segmented into metals, chemical compounds and zeolites. Of these, the metal segment accounts for the largest market share in terms of revenue. The metal segment is expected to remain highly attractive over the next coupl of years. The segment’s dominant position can be attributed to the increased application of metals in hydrotrating and hydrocracking for purification. Such purification procedures ensure removal of impurities and emission of toxic gases into the atmosphere. Introduction of stricter ecological laws to curbe air pollution and emission of toxic elements such as sulful during the product of gasoline is propelling the demand for metals. Disel and gasoline requires efficient purification as they contain ultra-low sulful content. Such factors are driving the growth of the metal segment.
Global Refinery Catalyst Market: Regional Analysis
Based on region, the market has been segmented into North America, Latin America, Europe, the Middle East & Africa (MEA) and Asia Pacific (APAC). Asia Pacific (APAC) is one of the frontrunners in the global refinery catalyst market. A tremendous industrial growth in China is viewed as the key force propelling the market in APAC. Moreover, development of new refinery infrastructure along with upgradation of existing ones is a major driver of the market in the region. Countries like China and India are expected to remain key contribution to the global refinery catalyst market in terms of revenue. The refinery catalyst market in APAC is likely to witness a healthy growth during the forecast period. APAC is followed by North America.
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Contact Info:
Name: Abhishek
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Organization: Market Research Future
Address: WantStats Research and Media Pvt. Ltd. Office No. 528, Amanora Chambers Pune - 411028 Maharashtra, India
Website: https://www.marketresearchfuture.com/reports/refinery-catalyst-market-4436
Source: MarketersMedia
Release ID: 88895269
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