Global Refinery Catalyst Market to reach USD 5.1 BN By 2025
Posted On July 11, 2019
Recent studies by Value Market Research, reveals that the Global Refinery Catalyst Market was valued USD 4.1 BN (by revenue) in 2018 and is forecast to reach USD 5.1 BN by 2025 with a CAGR of 3% during from 2019-2025. Rising application of refinery catalyst for the fluid catalyst cracking process in the petrochemical industry coupled with the expanding refineries across the globe is predominately fueling the market growth. Rising investment by a major manufacturer to develop next-generation catalysts along with the growing demand for transportation fuel is further expected to enhance market value. Moreover, the growing demand for conservative and efficient processes for high yield owing to strict governmental norms and increase in the consumption of petroleum derivatives are also expected to fuel industry expansion.
Refinery catalyst is used to produce high-end products that have application across petroleum, gasoline, and diesel. Basically, they transform heavy crude oil into light derivatives with the help of the cracking process. This catalyst increases the speed of process for conversion of petroleum refinery naphthas into high-octane liquid products. Besides, refinery catalyst is also helpful in the breakdown of low octane hydrocarbon into cyclic naphthalenes and other alkanes.
The report "Global Refinery Catalyst Market Report By Type (Fluid Catalytic Cracking Catalyst, Reforming Catalyst & Isomerization Cracking, Hydroprocessing, Alkylation Cracking, And Others), Ingredient (Zeolites, Metals And Chemical Compounds) And By Regions - Industry Trends, Size, Share, Growth, Estimation, And Forecast, 2018-2025" open on to unbiased views and reliable industry information which will help clients to identify business opportunities and develop effective strategies.
Segmentation area includes type, ingredient, and region. The type of covers fluid catalytic cracking catalyst, reforming catalyst & isomerization cracking, hydroprocessing, alkylation cracking, and others. Hydroprocessing is dominating the overall type segment because of the rising need to remove pollutants such as sulfur nitrogen and heavy metal from fuel oils coupled with the growing application of hydroprocessing for a breakdown of heavy feedstock into lighter materials. Ingredient segment includes zeolites, metals, and chemical compounds. Out of which, zeolites have majorly used catalyst product and held the largest share in the market because they have the capability of providing microporosity and adjustable acidity which makes them an ideal catalyst across refining and petrochemical applications. Geographical segmentation covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. At present, Asia-Pacific is leading the overall global refinery catalyst market because of expanding refinery industry across the emerging countries coupled with the rising demand for petrochemicals products in the region. This is basically escalating the regional market value.
The Report Segments Global Refinery Catalyst Market -
Middle East & Africa
Players Profiled In The Report:
Albemarle Corporation, Axens, BASF, Chevron Corporation, Clariant AG, CRI/Criterion Inc., DuPont, Evonik Industries, ExxonMobil Chemical, Haldor Topsoe, Honeywell International Inc., JGC C & C, Johnson Matthey, Sinopec (China Petroleum & Chemical Corporation) and W.R. Grace & Co.
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