Refinery Catalyst Market

Global Refinery Catalyst Market generated a revenue of USD 6.8 billion in 2022 and is forecast to reach USD 9.1 billion in 2030, expanding at a CAGR of 3.7% over the forecast period (2023-2030) attributed to growing demand for petroleum and chemical products around the world.

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Key Refinery Catalyst Market Drivers

Refinery Catalyst Market is driven by growing demand for petroleum derived products around the world, increasing industrialization, strict regulations imposed by regional governments to reduce air pollution caused by internal combustion engine vehicles. To meet the regulatory compliances, manufacturers are adding better catalyst in their refining facilities to reduce pollutants caused by diesel and gasoline engines, which is expected to increase growth opportunities for Refinery Catalyst Market. Moreover, rising oil production across United States and Russia and increasing focus of major enterprises on expanding their catalyst production capacity, are further driving the growth of Refinery Catalyst Market. The crude oil production across United States is primarily driven by the development of tight oil resources, as per U.S. Energy Information Administration (EIA) estimates, in 2021 almost 2.64 billion barrels of crude oil were produced, which was equivalent to 64% of total crude production in the country.

Over the years, surge in world’s population has significantly increased the daily average commute of passengers, which is boosting the demand for different modes of transportation. This increase in transportation is generating demand for efficient transportation fuels, which is accelerating the consumption of refinery catalyst in refinery industries. Additionally, developments in the petroleum industry have increased the application of refinery catalyst for dehydrogenation, amination, and hydration reactions etc., is further accelerating the market growth. Increasing investments by major companies on research and development, is driving the growth of Global Refinery Catalyst Market. However, growth of the Refinery Catalyst Market is hindered due to increasing availability of substitute fuels such as bioethanol and biodiesel.

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Based on Material, Zeolites segment holds a major market share due to increasing demand for high-octane fluids.

Zeolites are gaining popularity in the Refinery Catalyst Market because these materials are available in abundance in the industrial sector. In addition, Zeolites are increasingly used for FCC catalysis process owing to its high-pressure resistance and high temperature resistance features, which is further contributing to the segment’s growth.

FCC Catalysts is dominating the market attributed to rising demand for gasoline as a fuel.

Fluid catalytic cracking utilizes heat and catalyst to break down big molecules of gas oil into smaller molecules. Companies are increasingly adding FCC units in their refineries to convert heavy and high boiling hydrocarbons to smaller fraction, which is one of the major factors pushing the segment’s growth.

Hydrocracking Catalysts are gaining traction in the market for converting heavy oil feedstock into high-quality and lighter fuel products such as gasoline, jet-fuels, and diesel. In addition, strict regulations imposed by governing bodies focusing on the use of ultra-low sulfur diesel (ULSD) and increasing demand for petroleum products, are further contributing to the segment’s growth.

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Based on Region, Asia-Pacific region is dominating the market and is projected to grow at a higher CAGR.

Refinery Catalyst Market in Asia-Pacific region is driven by increasing demand for petroleum derived products, rapid industrialization and strict regulations imposed by governments to reduce vehicular emissions. China has emerged as a dominant player in the Asia-Pacific region due to availability of raw materials at affordable prices, favourable Government policies and increasing consumption of oil and petroleum products. Developments in the transportation industry has surged the oil consumption in China, as per our estimates, the oil consumption across China has increased from 14.3 million barrels per day in 2019 to 15.4 million barrels per day in 2021. Russia is projected to remain a major player in Europe owing to increasing focus of major companies on expanding their production capacity.

Top Market Players

Notable players operating in the Global Refinery Catalyst Market includes Arkema, Clariant, BASF SE, Zeolyst International, Johnson Matthey, Chevron Corporation, Evonik Industries AG, Exxon Mobil Corporation, DuPont, and Albemarle Corporation, among others.

Key Developments:

• • In December 2022, Johnson Matthey (JM) announced that it will expand its manufacturing plant in facility in Perstorp, Sweden to meet the demand for formaldehyde, which is used to produce biodegradable plastic and building components. This expansion will be operational by March 2024 and will increase company’s site capacity by 50%.
  • In October 2021, Clariant Catalysts and its process partner Lummus Technology, received a major contract from GAIL, (India) Ltd., to build first Propane Dehydrogenation (PDH) plant with CATOFIN technology in India.
  • In July 2021, BASF completed the acquisition of Zodiac Enterprises LLC, to expand its chemical catalyst recycling capacity. This acquisition will help the company to meet increasing demand for recycling spent chemical and automotive catalysts.
  • In March 2020, BASF launched its Fourtune Fluidized Catalytic Cracking (FCC) catalyst, which is based on Multiple Framework Topology (MFT) technology. This product is designed to deliver superior butylene over propylene selectivity while maintaining catalyst activity.
  • In 2019, Exxon Mobil Corporation collaborated with Albemarle Corporation to develop Galexia Platform, a transformative suite of hydroprocessing catalysts and services.

Segments covered in the Report:

The Global Refinery Catalyst Market has been segmented on the basis of material, application, and region. Based on material, the market is segmented into zeolites, metallic, chemical compounds, and others. Based on application, the market is segmented into FCC catalysts, alkylation catalysts, hydrotreating catalysts, hydrocracking catalysts, catalytic reforming, and others.

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Key questions answered in this research report:

• • At what pace is global refinery catalyst market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in refinery catalyst market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global refinery catalyst market?
  • Which material generated maximum revenues in 2022 and identify the most promising material during the forecast period?
  • What are the various application areas of global refinery catalyst market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Refinery Catalyst Market by Material

• • Zeolites
  • Metallic
  • Chemical Compounds
  • Others

Global Refinery Catalyst Market by Application

• • FCC Catalysts
  • Alkylation Catalysts
  • Hydrotreating Catalysts
  • Hydrocracking Catalysts
  • Catalytic Reforming
  • Others

Global Refinery Catalyst Market by Region

• • North America Refinery Catalyst Market (Option 1: As a part of the free 25% customization)
    • By Material
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Refinery Catalyst Market (Option 2: As a part of the free 25% customization)
    • By Material
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Market Europe All-Up
  • Asia-Pacific Refinery Catalyst Market (Option 3: As a part of the free 25% customization)
    • By Material
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of Market APAC All-Up
  • RoW Refinery Catalyst Market (Option 4: As a part of the free 25% customization)
    • By Material
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Refinery Catalyst (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Arkema
  • Clariant
  • BASF SE
  • Zeolyst International
  • Johnson Matthey
  • Chevron Corporation
  • Evonik Industries AG
  • Exxon Mobil Corporation
  • DuPont
  • Albemarle Corporation