Refinery Catalysts Market Size, Share & Global Forecast

 


Refinery Catalysts Market

Refinery Catalysts Market is predicted to grow at a healthy CAGR of 3% over the forecast period, owing to their growing use in petroleum refining to enhance the operational efficiency.

Refinery catalysts have the ability to reduce the toxic pollutants ejected by diesel engines and gasolines, which stands to be a prime factor driving the refinery catalysts market size. Further, growing adoption of refinery catalysts to counteract metal contamination and heat balance impact have bolstered the market growth. Increasing emphasis of leading producers to design catalysts that can manage all sorts of feedstocks and certify an easy and reliable application will offer huge opportunities to the market.

By material, Zeolites are predicted to witness a faster CAGR over the forecast period, owing to their better texture, large surface area, and lower cost. On the other hand, metals will expand at a higher CAGR during the forecast period, attributed to the growing use of metals in hydrocracking process to reduce harmful gasses in the environment.

By application, FCC catalysts will expand at a higher CAGR over the coming years, owing to the rising investment in the petroleum refining industry. Also, the deployment of FCC method by refineries to transform heavy hydrocarbons into lower valuable fractions will strengthen the Refinery Catalysts Market Share.

Asia-Pacific region is expected to hold a larger share majorly because of the increasing industrialization, accelerating population, and strict environmental norms. Further, as per the Refinery Catalysts Market global forecast, the strong presence of leading companies which include Unicat Catalyst Technologies Inc, Albemarle Corporation, and Honeywell Uop, will augment the regional growth.

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Leading players operating in the market include Clariant, Arkema, BASF SE, Zeolyst International, Johnson Matthey, Evonik Industries AG, Exxon Mobil Corporation, Chevron Corporation, DuPont, and Albemarle Corporation, among others.

Key Developments:

In July 2021, BASF decided to increase its chemical catalyst recycling capacity and capability. The site will recycle precious metals from industrial scrap, especially chemical catalysts.

In Aug 2020, ExxonMobil collaborated with Global Clean Energy Holdings to produce renewable diesel.

Refinery Catalysts Market Segmentation:

Refinery Catalysts Market by Material
  • Zeolites
  • Metallic
  • Chemical Compounds
  • Others
Refinery Catalysts Market by Application
  • FCC Catalysts
  • Alkylation Catalysts
  • Hydrotreating Catalysts
  • Hydrocracking Catalysts
  • Catalytic Reforming
  • Others
Refinery Catalysts Market by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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