Market Insights
Market
Research Future has added a new report on the global refinery catalyst market
which reveals that the market is set to grow at a CAGR of more than 4% during
the forecast period of 2017 to 2023. Moderate yet consistent growth is expected
by the market due to growing oil and gas activities across the globe.
Refinery
catalysts are extensively utilized in refinery processes such as FCC,
hydrocracking, and other. refinery catalysts are vital in the conversion of
crude oil to more valuable forms of fuel. The growing demand for gasoline
particularly in emerging economies is expected to impact the global market
positively. Government bodies in developed economies are increasingly
implementing stringent regulations with regards to environment conservation and
fuel. The extraction of heavier crudes and ever-increasing energy demands have
resulted in increased refinery activities thus driving the demand for refinery
catalysts.
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Refiners
are building new refinery units or renovating existing facilities to meet the
growing demand for fuel. Moreover, refinery catalyst manufacturers are actively
engaged in offering customers with cutting-edge refining components. Ongoing
R&D toward the production of optimized refinery catalysts are vital in the
creation of future market opportunities.
Scope of the Report:
This study provides an overview of the global refinery catalyst market,
tracking two market segments across four geographic regions. The report studies
key players, providing a five-year annual trend analysis that highlights market
size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest
of the World (ROW). The report also provides a forecast, focusing on the market
opportunities for the next five years for each region. The scope of the study
segments the global refinery catalyst market by its type, by application, by
regions.
By Type
- FCC
Catalysts
- Hydrotreating
Catalysts
- Hydrocracking
Catalysts
- Catalytic
Reforming Catalysts
By Ingredient
- Zeolites
- Metals
- Chemical
compounds
By Regions
- North
America
- Asia
Pacific
- Europe
- Rest of
the World
Regional Analysis
The
Asia Pacific leads the market with the highest growth due to the presence of
various emerging economies in the region with rapidly rising demand for fuel.
Countries such as India and China among others have massive consumer populations
and a swiftly expanding automotive industry among others. The demand for energy
and fuel in the region to power homes, vehicles and the industrial hub that the
region has become has catapulted the region into leading position. Growing
construction of refinery infrastructure is another key factor driving the
regional market.
The
North American market closely follows the Asia Pacific. The U.S leads the
region's growth and has a significant demand for fuel and crude oil
by-products. The presence of several key players in the region add to the
regions growth drivers and cement its position as a leading regional market.
Key Players
Prominent
players participating in the global refinery catalyst market include BASF SE,
Honeywell UOP LLC., Criterion Catalysts & Technologies L.P., Exxon Mobil
Corporation, Clariant International Ltd, W. R. Grace & Co., China Petroleum
& Chemical Corporation (Sinopec Corp.), Axens SA, Albemarle Corporation,
and Haldor Topsoe A/S. These players have been extensively analyzed, and their
market strategies have been recorded in MRFRs report.
Latest Industry News
·
BASF has launched its new FCC catalysts, Luminate. The
Luminate FCC catalyst delivers higher liquid yields and is based on BASF's new
and improved Zeolite Y (IZY) technology.
·
Fuji Oil has commenced use of Honeywell
UOPs new R364 Platforming catalyst for the increased production of aromatics
for chemical production at its plant in
Japan.
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