Refinery Catalyst Market By Product, By Ingredient, By Geography, Competitive Landscape And Forecast


Posted March 24, 2020 by jennysmith

Refinery Catalyst Market was valued at USD 4.67 Billion in 2017 and is expected to witness a growth of 4.02% from 2019-2026 and reach USD 6.55 Billion by 2026.

 
Refinery Catalyst Market Size and Forecast
According to Verified Market Research, the Global Refinery Catalyst Market was valued at USD 4.67 Billion in 2017 and is expected to witness a growth of 4.02% from 2019-2026 and reach USD 6.55 Billion by 2026.

The latest survey on Global Refinery Catalyst Market is conducted covering various organizations of the industry from different geographies to come up with a 100+ page report. The study is a perfect mix of qualitative and quantitative information highlighting key market developments, challenges that industry and competition are facing along with gap analysis and new opportunities available and trend in the Refinery Catalyst Market. The report aims to present the analysis of the Global Refinery Catalyst Market By Product, By Ingredient, By Geography – North America, Europe, South America, Asia-Pacific, Middle East, and Africa. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities.

What is Refinery Catalyst Market?
Refining catalyst is a substance that is used to convert petroleum refinery naphtha’s into the high-octane liquid product, as known as, reformats. Besides, it also converts low octane hydrocarbons into cyclic naphthalene and other branched alkanes. Then, these are again dehydrogenated to produce aromatic hydrocarbons with a high octane number. By using a refining catalyst, the companies can produce high valued elements that are used in petrochemicals, diesel, and gasoline. Refinery catalysts see a predominant usage in petroleum refineries, where they are used to alter the rate of chemical reactions and enhance the quality of gasoline products produced through processes such as FCC and hydro-processing.

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Refinery catalysts also enhance the operational efficiency of valuable hydrocarbons. Additionally, they also minimize the adverse effects of products such as gasoline and diesel on the environment by assisting in the removal of sulfur from crude oil. In petroleum refineries, they are used in hydrocracking, hydrotreating, fluid catalytic cracking, and alkylation processes. Refinery catalysts are provided across petroleum refineries to help refiners meet fuel standards, manage operational efficiency, enhance yield and conversion, without affecting the environment.

The growing demand for cleaner petroleum products, growing oil and gas related activities and surging population across the globe triggering the need for more energy are few other factors contributing to the growth of the market. The key restraining factor such as demand for alternative sources of energy and rapidly depleting crude oil reserves may hinder the global catalysts in petroleum refining market growth over the forecast period.

Global Refinery Catalyst Market Outlook
The surge in demand of petroleum derivatives, due to the increase in global automotive sale in Asia Pacific region, in nations such as China, South Korea, India, Thailand, and Indonesia, will further boost the growth of refinery catalysts during the forecast period. Other than the transportation sector, the demand for petroleum derivatives also come from industrial and power generation sectors. This way, the rising demand for petroleum fuels will propel the crude oil refining sector, which will significantly boost the refinery catalyst market demand over the forecast spell.

However, fluctuation in raw material prices and production cost will hamper the product market. Rare earth metals such as molybdenum, vanadium, tungsten, etc. are extensively used in the production of refinery catalysts. The concentration of these ores in specific locations across the globe make the supply difficult and dependent on international trade laws. Hence this would in turn increase the raw material procurement cost, ultimately affecting the production cost. These are the major factors that are anticipated to hamper the growth of the refinery catalyst market during the forecast period.

Global Refinery Catalyst Market Segmentation
The Global Refinery Catalyst Market is classified on the basis of product and ingredient and Geography. The gist of breaking down the market into various segments is to gather information about various aspects of the market.

On the basis of product, the market is segmented into FCC Catalyst, Hydro processing Catalyst, Catalytic reforming catalyst, and Others. On the basis of ingredients, the market is bifurcated on the basis of zeolites, metals, chemical compounds. zeolites sub-segment is expected to hold the largest market in the global market.

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Global Refinery Catalyst Market Competitive Landscape
The “Global Refinery Catalyst Market” study report offers a valuable insight with an emphasis on global market including some of the major players such Albemarle Corporation, W. R. Grace & Co., Haldor Topsoe A/S, Honeywell UoP LLC, Sinopec Corp, Clariant International Ltd., Johnson Matthey PLC, Exxon Mobil Corporation, KNT Group. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

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Issued By vmr
Country United States
Categories Business
Tags refinery catalyst market
Last Updated March 24, 2020