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.
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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.
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.
Global Key Players:
·
BASF SE
· Honeywell UOP LLC.
·
Criterion Catalysts &
Technologies L.P.
·
Exxon Mobil Corporation
·
Clariant International Ltd
·
W. R. Grace & Co.
·
China Petroleum & Chemical
Corporation
·
Axens SA, Albemarle Corporation
·
Haldor Topsoe A/S
Market Segmentation
MRFR's segmental
analysis of the global refinery catalyst market has been performed based on
type, ingredient, and region. By type, the
market is segmented to include hydrotreating catalysts, FCC catalysts,
hydrocracking catalysts, and catalytic reforming catalysts. Among these, the FCC catalysts segment account
for the most significant share as FCC catalysts play a crucial role in the
production of gasoline.
By ingredients,
the market is segmented into metals, zeolites, and chemical compounds. The
metals segment registers the largest share of the market due to the growing use
of metals in hydrocracking and hydrotreating for filtration of impurities and production of harmful gases.
Globally, the
refinery catalyst market is divided into North America, Europe, Asia Pacific
and the 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.
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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Research Report@ https://www.marketresearchfuture.com/reports/refinery-catalyst-market-4436
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