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    Refinery Catalyst Market Growth & Forecast

    Refinery Catalyst Market Growth & Forecast
    Report code - SR1223 Delivery - 2 Weeks
    Refinery Catalyst Market Size, Share, Trend, Growth, Forecast, & Industry Analysis &nd See more...

    Market Insights

    The global refinery catalyst market was estimated to grow from USD 4.62 billion in 2022 to reach USD 5.62 billion by 2028 at a compound annual growth rate (CAGR) of 3.33% during the forecast period of 2023-2028.

    refinery-catalyst-market-size

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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 Features

    Market Size in 2028

    USD 5.62 Billion

    Market Size in 2022

    USD 4.62 Billion

    Market Growth (2023-2028)

    CAGR of 3.33%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Top Companies in 2022

    • 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.

    Dominant Region

    Asia-Pacific is expected to maintain its vanguard during the forecast period.

    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 42% 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.

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    Regional Insights

    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.

    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

    refinery-catalyst-market-segmentaion

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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.

    Report - Features

    Segmentation

    3

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >130

    Company Profiles

    10

     

    The following are the key features of the report:

    • Overview, industry life cycle and supply chain analysis
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Trend and forecast analysis
    • Segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    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

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    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.

    The market is expected to grow at a CAGR of 3.33% during the upcoming five years.

    The market size is estimated to grow from USD 4.62 Bn in 2022 to USD 5.62 Bn by 2028.

    Asia-Pacific is expected to maintain its vanguard during the forecast period.

    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 and W. R. Grace & Co. are the key companies in the market.

    The zeolites segment has the largest share of the market during the estimated time.

    The study period of the market is 2017-2028.

    Surge in demand for cleaner petroleum products, increasing activities in the oil and gas industry and growing population across the world are some of the major factors driving the market growth.

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