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.
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.
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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 (Sinopec
Corp.)
·
Axens SA
·
Albemarle Corporation
·
Haldor Topsoe A/S
Scope
of the Report:
This
study provides an overview of the global refinery catalyst market, tracking two
market segments across four geographic regions. The report studies key players,
providing a five-year annual trend analysis that highlights market size, volume
and share for North America, Europe, Asia Pacific (APAC) and Rest of the World
(ROW). The report also provides a forecast, focusing on the market
opportunities for the next five years for each region. The scope of the study
segments the global refinery catalyst market by its type, by application, by
regions.
By
Type
- FCC Catalysts
- Hydrotreating Catalysts
- Hydrocracking Catalysts
- Catalytic Reforming Catalysts
By
Ingredient
- Zeolites
- Metals
- Chemical compounds
By
Regions
- North America
- Asia Pacific
- Europe
- Rest of the World
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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