Market Insights
The refinery catalyst market was estimated at USD 4.62 billion in 2022 and is likely to grow at a CAGR of 3.33% during 2023-2028 to reach USD 5.62 billion in 2028.
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What is Refinery Catalyst?
A refining catalyst is a substance that is used to convert oil refining naphtha into reformats, which are high-octane liquid products. Low octane hydrocarbons are also converted into cyclic naphthalene and other branched alkanes. Refinery catalysts are widely used in tight oil production to combat issues such as metal pollution and heat balance.
Refinery Catalyst Market Highlights
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Market Size in 2028
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USD 5.62 Billion
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Market Size in 2022
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USD 4.62 Billion
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Market Growth (2023-2028)
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CAGR of 3.33%
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Base Year of Study
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2022
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Trend Period
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2017-2021
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Forecast Period
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2023-2028
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Dominant Region
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Asia-Pacific is expected to maintain its vanguard during the forecast period.
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Market Dynamics
The growth of the refinery catalyst market is primarily driven by:
- Surge in demand for cleaner petroleum products, increasing activities in the oil and gas industry and growing population across the world.
- Catalysts for refineries are chemicals which are used for refining in different operations.
- Furthermore, increasing demand for petroleum derivatives accelerates the demand for the market.
- Using fuel of high-octane number escalates the refinery market size.
- Strict rules and regulations regarding environment, use of high-quality refined products, and rapid urbanization.
- The use of ultra-low sulfur diesel formed by hydrocracking catalyst.
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Key Players
Some of the key players in the refinery catalyst market are-
- Albemarle Corporation
- Anten Chemical Co., Ltd
- Chempack
- Criterion Catalysts & Technologies L.P
- Filtra Catalysts and Chemicals Ltd.
- Haldor Topsoe A/S
- Honeywell UoP LLC
- JGC Catalysts and Chemicals
- Sinopec Corp
- W. R. Grace & Co.
Segment Analysis
Material Trends
The market is segmented as zeolites, metallic, chemical compounds, and others. Zeolites held more than 30% share of the market in 2021, and are expected to register the highest growth in the market during the forecast period.
Their growth is driven by the fact that they are the widely used refinery materials because of their characteristics such as micro porosity and large surface area, which makes them ideal for petrochemical applications.
Application Trends
The market is segmented as fluid catalytic cracking (FCC), hydroprocessing, alkylation, and reforming & isomerization. The FCC segment held more than 40% share of the market in 2021, and is expected to maintain its dominance during the forecast period as well.
Fluid catalytic cracking is a chemical process that uses heat and a catalyst, primarily zeolite, to convert higher molecular weight hydrocarbons with long carbon chains into lighter hydrocarbons.
Today, there are approximately 500 FCC units in the world. Around 30% of the total gasoline and 50% of the total transportation fuel are produced through FCC processing, making it the dominant application type.
Regional Analysis
Asia-Pacific held more than 30% market share in 2021, and is expected to maintain its dominance during the forecast period. The region accounted for the largest share of the market in 2021, and is expected to be the fastest-growing market over the next five years.
China and India are the growth engines of the region. With the refinery upgrades and capacity expansions in India and China, the region is expected to experience the fastest growth over the forecast period.
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Market Segmentation
The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories:
By Material Type:
- Zeolites
- Metallic
- Chemical Compounds
- Others
By Application Type:
- Fluid Catalytic Cracking
- Hydroprocessing
- Alkylation
- Reforming & Isomerization
By Region:
- North America
- Europe
- Asia-Pacific
- Rest of the World
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Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Report Features
This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision making for the existing players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth Analysis of the Refinery Catalyst Market
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How lucrative is the future?
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Market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market Segment Analysis and Forecast
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Which are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirement?
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10% free customization
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Customization Option
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Segmentation
- Current market segmentation by any one of the material types by application type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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