The global hydro-processing catalysts market is expected to reach USD 2,565.46 million by 2032, with a steady CAGR of 2.3% during the forecast period. Currently, the market is expanding at a size of USD 2,043.66 million.
The US hydro-processing catalysts market, in particular, has seen a huge decline in natural gas prices, which has led to low hydrogen manufacturing costs. As hydrogen is so inexpensive, it is very economical to catalytically add hydrogen to middle distillate fractions. This increases the liquid volume swelling and results in higher yields of valuable diesel.
Furthermore, compared to more expensive unsupported catalyst compositions, alumina-based hydrotreating catalysts assist in reducing operating costs when aiming for volume swell. For instance, HyBRlM, the newest catalyst technology from Topsoe, uses a better manufacturing process for both NiMo and CoNiMo hydrotreating catalysts. It combines BRlM technology with a special process for preparing the catalyst.
Moreover, Topsoe was able to create an improved metal slab structure with an ideal connection between the active metal structures and the catalyst carrier due to the synergistic effects of combining the two technologies.
Additionally, greener fuels, including diesel fuels with ultra-low sulfur content (ULSD), are produced using this method. Therefore, expanding applications for hydro-processing are anticipated to create potential demand for hydro-processing catalysts.
In addition, the availability of enhanced refinery capabilities and rising oil production activities are some of the major aspects predicted to spur enormous expansion opportunities in the global hydro-processing catalysts market from 2022 to 2032.
Furthermore, heavy oil from various geographical regions has various qualities. As a result, it's critical to have a customized catalyst that is appropriate for the intended heavy oil hydrocracking. Designing and synthesizing catalysts with high hydro-processing activity is a major difficulty in this situation.
Modern catalysts and unmatched service experience are combined in the game-changing Galexia platform of specialist hydro-processing solutions from ExxonMobil and Albemarle to optimize the operation and spot high-value possibilities for step-out growth and profitability.
Utilizes firms' vast hydro-processing expertise to unlock the full potential of the Nebula®, Celestia, and MIDWTM specialty catalysts' high performance. This industry-leading activity opens up new possibilities and increases operational flexibility for the hydro-processing catalysts market.
The hydro-processing catalysts market is projected to rise as a result of the increased demand for transportation fuel worldwide. The demand for catalysts in the petroleum refining sector is anticipated to be driven by government regulations governing ultra-low sulfur diesel (ULSD) and strict emission standards in developed economies.
Moreover, strict fuel regulations and standards, together with rising petroleum derivative use, are anticipated to drive the hydro-processing catalysts market expansion.
| Attributes | Details |
|---|---|
| Hydro-processing Catalysts Market CAGR (2022 to 2032) | 2.3% |
| Hydro-processing Catalysts Market Size (2022) | USD 2043.66 million |
| Hydro-processing Catalysts Market Size (2032) | USD 2565.46 million |
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In last two decades, the business of refining catalyst has grown from regional to global level. Refinery product values are dependent on process catalysts of refined products, petrochemical products and chemicals alongwith other refinery operations. One of the major concerns in the refinery is to reduce the sulphur content to the required limit.
Hydro-processing catalysts (HPC) are primarily consumed in the hydro-processing operation of crude oil fractions. Such crude oil fractions include kerosene, naphtha and diesel. As a common practice, hydro-processing of crude oil fractionsis carried out at an elevated temperature and pressure.Hydro-processing is required to remove pollutants such as sulphur, heavy metals and nitrogen from fuel oils.
These catalysts also help in the catalytic hydrocracking process to crack larger hydrocarbon molecules into smaller sizes,to be used as fuel oils. Thus, hydro-processing catalysts enable conversion of heavy feedstock into lighter products for efficient processing.
Hydro-processing catalysts market is the fastest growing refinery catalysts market segment in the world. In addition, hydro-processing catalysts supplement the process control and operational efficiency improvement activities. Therefore, it is expected that the hydro-processing catalyst market will dominate the global refinery catalyst market by 2020.
The global hydro-processing catalysts market can be categorized on the basis of its product type as molybdenum oxides, cobalt oxides, nickel oxidesand tungsten oxides. These metal oxides are carried on a carrier or matrix of silica, alumina and silica/alumina. Further, global hydro-processing catalysts market can also be categorized on the basis of their applications such as creating cleaner fuels, ultra-low sulphur levels in diesel fuels (ULSD) and others.
On the basis of technology, global hydro-processing catalysts market can be segmented as hydro-treating catalysts, hydrogenation catalysts, hydrocracking catalysts, isomerisation catalyst and reforming catalyst. Among these, hydro-treating catalysts are dominant segment at present,accounting for more than half of the global hydro-processing catalysts market.
Refiners are more focusing to maximize residue feedstock yield through hydro-processing catalysts as petroleum product prices are rising globally. This is one of the key supply side drivers of the global hydro-processing catalysts market.
Moreover, stringent environmental regulations and legislations are expanding, which, in turn, affects the heaviercrude processing and sulphur elimination process market.Enhanced refinery capacities coupled with the rising oil production are driving the growth of global hydro-processing catalysts market.
Environmental fuel specifications regulations introduced by Europe, the U.S.and few Asia Pacific countries have been driving the global hydro-processing catalysts market.Further, developed countries have mandate to reduce sulphur content whereassulphur restrictions are implemented in the developing countries such as India, China and Mexico.
As hydro-processing catalysts are advantageous to reduce sulphur content, these countries are likely to open up opportunities for hydro-processing catalysts market.
Due to presence of giant oil and gas chemical manufacturers in the refinery catalyst market; the market competition is quite high. Expansion of production facilities in oil producing fields along with the strategic alliances are few of the major market strategies in the global hydro-processing catalysts market.
Some of the major market participants of global hydro-processing catalysts market include HaldorTopsøe, W. R. Grace and Company, Albemarle Corporation, Axens, UOP- Honeywell International Inc., Chevron Corporation, Royal Dutch Shell plc, BASF SE, Criterion Catalysts & Technologies, Criterion catalysts & Technologies and others.
Among these, BASF has increased its R&D efforts since it acquired Engelhard. Further, BASF SE has come up with new developments in the processing of residue to increase the quality of yield.W.R. Grace and Companyhas introduced new products inthe hydro-processing catalysts market in the past five years.
Thus, it is clear that global hydro-processing catalysts market participants are focused to expand their business through innovative product launches with specific market application.
These innovative products include catalyst to eliminate sulphur content upto mandate limits. The worldwide hydro-processing catalysts market stands ready to meet the challenges, where energy costs significantlyfluctuate. However,fluctuating raw material prices, price spike, price collapse along with the governments enact legislation for certain related products or technologies, the demand of hydro-processing catalyst market are expected to undergo fluctuation.
The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market segments, geographies, types, product type, technology and applications.
Principal Consultant
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps qualitative impact of various market factors on market segments and various geographies.
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1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Type 6.2. Application 7. Global Market Analysis and Forecast, By Type 7.1. Hydrotreating 7.2. Hydrocracking 8. Global Market Analysis and Forecast, By Application 8.1. Diesel Hydrotreat 8.2. Lube Oils 8.3. Naphtha 8.4. Other Applications 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. Asia Pacific 9.6. Japan 9.7. Middle East and Africa 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 15. Japan Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Type and Application for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Sinopec 19.2. Johnson Matthey 19.3. Axens 19.4. CNPC 19.5. Criterion
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Hydro-processing Catalysts Market
