Future Market Insights (FMI) has projected the global Refinery Catalyst Market to witness a year-on-year growth of4.5%in 2022 reaching a value of about USD 9,011.0 Million by 2022 end. Catalysts are utilized in the refinery industry to transform heavy oil into lucrative, distillable products.
New growth opportunities in the refinery catalysts market are projected to emerge as a result of product diversification and enhancement. Global refinery catalyst market is anticipated to witness a considerable growth of 4.6% CAGR during the period 2022 and 2030.
| Attribute | Details |
|---|---|
| Global Refinery Catalyst Market Value (2021A) | USD 8,620 Million |
| Global Refinery Catalyst Market Demand (2022E) | USD 9,011 Million |
| Projected Refinery Catalyst Market (2030F) | USD 12,366 Million |
| Value CAGR (2022 to 2030) | 4.6 % |
| Collective Value Share: Top 3 Countries (2022E) | 44.9% |
FMI has identified the Asia Pacific region to remain a key market for refinery catalyst market over the forecast period owing to significant demand from end-use sector. The region is estimated to witness a value CAGR of 5.7% in the industry of refinery catalyst market.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.5% |
| H1,2022 Projected (P) | 4.2% |
| H1,2022 Outlook (O) | 4.3% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 10 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 20 ↓ |
A half-yearly comparison of the growth forecast for the market of refinery catalysts has been presented by Future Market Insights with recent market developments occur in the market. Urbanization, growing industrialization, and increasing demand for petroleum and chemical products are expected to boost the refining catalyst market.
To cater to growing strict environmental regulations key players are opting for a better refining procedure to reduce pollutants generated by diesel and gasoline engines. Key players are further expanding their catalyst production capacities to meet the growing demand for efficient fuels production and increase in refinery capacity.
The global market for refinery catalysts in H1 2021 has witnessed growth at magnitude of 4.5%. The growth of the market remains highly uneven across various regions with Europe and Latin America region witnessing a moderate growth outlook.
India, China, and some ASEAN countries are estimated to witness a significant growth rate owing to rising demand from the petrochemical industries, providing the growth outlook of 4.2% over the first half of 2022.
Higher growth outlook in India, China, and some ASEAN countries had slightly benefit the consumption rate of 10 bps of refinery catalysts in H1 2022 as compared to earlier projections. Owing to increase in refinery capacity in these countries the growth prospects to remain significant.
Despite the positive prospects, there are certain challenges that lie ahead for industrial growth, this includes growing availability of alternative fuels such as bioethanol, biodiesel, among others, increasing adoption of “Go Green” campaigns and strict emission standards in developed economies, with increase in usage of electric vehicles worldwide, are expected to impact the growth outlook of the global market in the coming years.
The demand outlook for refinery catalyst market between 2015 and 2021 remains 2.7% as the pandemic crisis has impacted the market. The world's population is growing, which has resulted in increasing transportation through several mediums.
This increase in the transportation is enhancing the demand for fuel, which is boosting the consumption of catalyst in the refinery industries. Regional Government are focusing on decreasing air pollution caused by IC engine vehicles.
As a result, manufacturers are opting for a better refining procedure. Refining catalysts have the ability to reduce pollutants produced by diesel and gasoline engines. Even when used in tiny quantities, refinery catalysts can work at different temperatures and improve the pace of activity. The growth of the refinery catalyst market is likely to grow at a growth rate of 3.7% by volume over the assessment period of 2022 to 2030.
Principal Consultant
The petrochemical industry is one of the key sector contributing significantly in the economic growth of a nation. The ongoing developments in the petrochemicals industry have generated a demand for efficient fuels that will have superior activity, selectivity and lifetime.
Refining catalysts are used in such applications for hydrogenation, dehydrogenation, amination, oxidation, halogenation, dehydration and hydration reactions. The critical applications of refinery catalysts are growing and their use is being adopted across these industries to facilitate easy processing of fuels.
A number of companies worldwide are investing in research and development that will drive fuel usage in the future and consequently drive the global refining catalysts market.
Industrialists and researchers are focusing on methods to minimize the environmental impact from the refinery industries. They need to comply with the mandatory regulations pertaining to air and water quality. These regulations are also necessary to shed light on product quality specifications and have set high standards for operations.
Continuously setting compliance with these regulations and standards is a big threat to overall industry operations. It includes controlled air emissions, reduced toxicity in effluent discharges and management of sulphur concentrations in final product and also discharge fuels.
These requirements and significant adjustments to the process of refining have reshaped operational configurations and magnified capital investments. Overall it is a negative factor in market growth and is proving to be a restraint for the future.
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In the United States, refineries with small cracking capacity have increases the production of higher-valued fuels in the recent past. During last few years, the United States went from being one of the world's key net importers of refined products to one of the largest exporters.
Companies in the USA are broadening their global reach through improving distribution network, which will enhance their consumer reach.
All these factors are expected to boost the demand for the refinery catalyst in the coming years. Further sales of several number of vehicles had also boosted the demand for petroleum.
The market of refinery catalyst is expected to be benefited in the coming years through these scenarios. In 2022, USA refinery catalyst market is expected to register 2.6% y-o-y growth by volume.
In terms of the existence of oil and petroleum product manufacturing units, Russia is one of the key producer of crude oil and natural gas. In Russia, the growing tendency of manufacturing expansion is also promoting demand growth.
The expansion of distribution network by Russia, as well as the establishment of a strong presence in the existing areas, are projected to drive long-term demand.
In Russia, vertical integration is being explored to combat rising raw material prices. Several manufacturers are working significantly on expanding their production capacity in the worldwide refinery catalysts market, notably in the European region, where competition is fierce.
Russia is anticipated to remain a prominent market in the European region and the market of refinery catalyst to witness a CAGR of 2.9% over the period of 2022 and 2030.
In terms of oil and petroleum product consumption, Asia-Pacific is the key market influencer for refining catalysts. It has a rapidly rising population and considerable purchasing power.
The greater customer base in this region is boosting the demand for vehicles and other modes of transportation. China is anticipated to possess over half of the market value share in the Asia-Pacific region.
Due to the availability of raw materials at an efficient price, low labor costs, and favorable government rules governing pine tapping, China accounts for a key share of Asia Pacific market.
Moreover, government policies for supporting end-use industries such as, reducing the customs duty, providing tax and other incentives, and relaxing FDI norms are expected to positively affect the growth of the market. China Refinery Catalyst Market is estimated to create an incremental dollar opportunity of USD 1,062 Million during the period of 2022 and 2030.
FCC is anticipated to witness a significant growth in the global market owing to its significant characteristics enhancing the efficiency for a refinery industry. Fluid catalytic cracking (FCC) is a refinery catalyst for cracking residual oil, heavy oil, and wax oil.
The catalyst and heat are used by the FCC to break down the big molecules of gas oil into smaller molecules.
It is employed in order to maximize the proportion of gasoline produced. The global refinery catalysts market is projected to be dominated by the FCC segment, which is expected to continue in the future assessment period. The FCC segment is projected to create an absolute dollar opportunity of more than USD 647.0 Million during the period of 2022 and 2030.
The zeolites segment is expected to witness a significant growth rate due to its simplicity of processing and abundant availability in the industrial sector, making it a preferred ingredient type. As refinery catalysts are increasingly used as an octane upgrading element, the increased demand for high-octane fluids is expected to create considerable opportunities in the coming years.
For these reasons, zeolites and metal complexes such as platinum are often used in refineries. The Zeolites segment is projected to reach a value of USD 3,127.0 Million by the end of the forecast period.
Over the past few years, development in the petroleum and petrochemical industries and changes in government policies have been witnessed to increase the applications of refinery catalyst.
Several key players are focusing on sustainable development, they are focusing on investing a fair share of their annual turnover to boost the application of the catalyst. The emergence of various manufacturers had also been witnessed in global businesses especially in China, India, Russia, and the USA
For Instance
The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2030 |
| Historical Data Available for | 2015 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Europe; Asia Pacific; Latin America; and Middle East and Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Rest of Latin America, Germany, Italy, France, Spain, UK, Russia, Rest of Europe, China, Japan, South Korea, India, Malaysia, Thailand, Indonesia, Australia, New Zealand, South Africa, and Rest of MEA |
| Key Segments Covered | Product type, Ingredient, Region |
| Key Companies Profiled | W.R. Grace & Co; Albemarle Corporation; BASF SE; Sinopec; Haldor Topsoe A/S; Axens SA; Clariant International Ltd; Honeywell International; Criterion Catalysts & Technologies L.P; Exxon Mobil Corporation |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Global Refinery Catalyst Market is expected to total USD 9,011 Million in 2022.
During the forecast period, the demand for Refinery Catalyst is expected to increase by a CAGR of 4.6% on value basis.
W.R. Grace & Co, Albemarle Corporation, BASF SE, Axens SA, Clariant International Ltd, Honeywell International and others are the key market players. The key market partcipants are anticipated to account for about 48% of the global market share.
The demand in China is expected to increase by 6.7% CAGR between 2022 and 2030 on value basis.
U.S., China, India and Russia are the key consumers Refinery Catalyst.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Refinery Catalysts Market Demand Analysis 2015 to 2021 and Forecast 2022 to 2030 6. Global Refinery Catalysts Market - Pricing Analysis 7. Global Refinery Catalysts Market Demand (in Value or Size in USD Million) Analysis 2015 to 2021 and Forecast 2022 to 2030 8. Market Background 9. Global Refinery Catalysts Market Analysis 2015 to 2021 and Forecast 2022 to 2030, by Product Type 9.1. FCC (Fluidised Catalytic Cracking) 9.2. Reforming 9.3. Hydrotreating 9.4. Hydrocracking 9.5. Isomerization & Alkylation 10. Global Refinery Catalysts Market Analysis 2015 to 2021 and Forecast 2022 to 2030, by Ingredient 10.1. Zeolites 10.2. Metals 10.3. Chemical Compounds 11. Global Refinery Catalysts Market Analysis 2015 to 2021 and Forecast 2022 to 2030, by Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Asia-Pacific 11.5. Middle East & Africa 12. North America Refinery Catalysts Market Analysis 2015 to 2021 and Forecast 2022 to 2030 13. Latin America Refinery Catalysts Market Analysis 2015 to 2021 and Forecast 2022 to 2030 14. Europe Refinery Catalysts Market Analysis 2015 to 2021 and Forecast 2022 to 2030 15. Asia-Pacific Refinery Catalysts Market Analysis 2015 to 2021 and Forecast 2022 to 2030 16. Middle East and Africa Refinery Catalysts Market Analysis 2015 to 2021 and Forecast 2022 to 2030 17. Key and Emerging Countries Refinery Catalysts Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. W.R. Grace & Co 19.2. Albemarle Corporation 19.3. BASF SE 19.4. Sinopec 19.5. Haldor Topsoe A/S 19.6. Axens SA 19.7. Clariant International Ltd. 19.8. Honeywell International 19.9. Criterion Catalysts & Technologies L.P. 19.10. Exxon Mobil Corporation 20. Assumptions and Acronyms Used 21. Research Methodology
Chemicals & Materials
April 2023
REP-GB-14244
315 pages
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Refinery Catalyst Market
