The global demand for Heavy Oil Cracking Catalysts Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022-2028.
Heavy oil cracking catalysts are chemicals used in the crude oil refining industry to convert viscous raw materials into more valuable and lighter products. These catalysts are generally available in powdered form and exhibit various properties like excellent stability to high temperature, good resistance to attrition, increased activity, and minimal coke production. These catalysts increase the yield of high-quality products, save energy since they are functional even in less severe operating conditions, produce more gasoline with a higher octane rating, and reduce the production turnaround time. Usually, silica-alumina and zeolites are commonly used catalysts. Cracking catalysts also help in preventing metal contamination and heat balance issues encountered during oil processing. The catalysts chosen depend on the type of feedstock, production cycle length, and the desired end product.
Market Dynamics
The growing demand for fuel for automotive vehicles worldwide is the primary stimulating factor for this market's growth. Stringent government regulations concerning emission standards and rising demand for fuel with high octane content will further boost the market growth. Adopting better process designs, equipment, technology, and sustainable practices will benefit developing the cracking catalysts market. The market for cracking catalysts is anticipated to grow steadily in the coming years since catalytic cracking can enhance yield and save production costs. A significant blockade for the growth of this market is the accessibility of raw materials.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each segment in the global market of heavy oil cracking catalysts.
Market Segmentation
This section of the heavy oil cracking catalysts market report provides detailed data on the segments by analyzing them geographically, thereby assisting the strategist in identifying the target demographics for the respective product or service.
By Catalyst Type
- Alumina
- Silica
- Zeolites
- Others
By Hydrocarbon
- Vacuum Gas Oil (VGO)
- Resid
- Oil Sands
By Application
- Cracking
- Olefin Reduction
- Propene Enhancement
- Others
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for Heavy Oil Cracking Catalysts market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Heavy Oil Cracking Catalysts Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the heavy oil cracking catalysts market include Albemarle Corporation, Axens, BASF SE, China National Petrochemical Company, CRI Catalyst Company, ExxonMobil Chemical, Grace Davison, Inc., Haldor Topsoe, Johnson Mathey, Süd-Chemie. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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