Refinery Catalyst Market
Refinery Catalyst Market Forecasts to 2030 - Global Analysis By Type (Hydrocracking, Hydrotreating, Reforming, Isomerization & Alkylation and Fluidised Catalytic Cracking (FCC)), Ingredient (Metals, Zeolites and Chemical Compounds) and By Geography
Years Covered |
2021-2030 |
Estimated Year Value (2023) |
US $4.61 BN |
Projected Year Value (2030) |
US $6.45 BN |
CAGR (2023 - 2030) |
4.9% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
Asia Pacific |
Highest Growing Market |
Middle East & Africa |
According to Stratistics MRC, the Global Refinery Catalyst Market is accounted for $4.61 billion in 2023 and is expected to reach $6.45 billion by 2030 growing at a CAGR of 4.9% during the forecast period. Refinery catalysts are chemical ingredients used during the refining process to remove unwanted impurities such as nitrogen, metal contamination, and sulfur. These catalysts, which increase the operational efficiency of petroleum, include zeolites, calcium carbonate, molybdenum, palladium, and zirconium. They can be employed individually or in various combinations. Catalysts are employed in the refining process to transform heavy oil into useful, distillable products. To help refineries work better, they may be recycled and utilized with a variety of feedstocks.
According to the International Energy Agency, global refinery intake was expected to grow by 16 mb/d in 2020 due to shutdowns all over the globe, creating fluctuations in price.
Market Dynamics:
Driver:
Rising investments in research & development
The world's top manufacturers are concentrating on implementing new technologies, proprietary designs, and equipment upgrades for these catalysts while increasing profits. To guarantee stability and dependability, businesses are enhancing the catalytic qualities of the items. They will be able to generate high-quality gasoline for less money as a result of this. The market is expanding as a result of the rising need for the refinery to create petroleum products and derivatives including plastics, petroleum wax, naphthalene, paraffin wax, and refined asphalt. Thus, prospects for refinery catalysts are created by the industry's increasing investment in R&D, technology, and capacity growth.
Restraint:
Strict regulations
The crude oil's high emission rate is caused by its sulfur concentration. Due to the rise in emissions, strict regulations with regard to low sulfur emission criteria have been put into place. The emission of air pollutants is one of the main issues with petroleum refineries. Numerous pollutants, including sulfur dioxide (SO2), nitrogen oxides (NOx), and particulate matter (PM), are created during the refining process. Additionally, the FCC process breaks apart heavy petroleum fractions like gas oil and waste to produce lighter fractions. Thus, these worries are impeding market expansion.
Opportunity:
Growing demand for high octane fuel
The consumer desire for cheaper fuel is raising the popularity of high octane fuel in the automobile sector. The introduction of efficient engine technology by the auto industry is increasing the consumption for higher octane fuels. High octane fuel also has potential advantages for the environment, the economy, and engines. With a blended octane value of 114, ethanol is a high-octane fuel that is both inexpensive and environmentally friendly. Moreover, the primary factor propelling this market is the rising use of petroleum derivatives in the manufacture of several consumer goods.
Threat:
Continuous variations in crude oil prices
The transition to different methods of crude oil production is a result of fluctuating pricing and dwindling reserves. Demand will decline as the extraction technique becomes less efficient. It is challenging to remove sulfur content from crude oil since the extraction techniques frequently result in crude oil with a high sulfur concentration and a sour taste. This strengthened the rivals' capacity to provide alternatives like biofuels.
Covid-19 Impact
The COVID-19 epidemic weakened the market because fewer people had access to goods made from refined oil. On the other hand, market expansion is hampered by the volatility in precious metal prices. But in 2021, the sector started to revive. The market is primarily being driven by rising refinery investment and accelerated demand for higher octane fuel in the short term. Additionally, the future may present an opportunity due to the nations with the highest consumption rates, including China and India, redirecting their attention toward nanocatalysts.
The fluidised catalytic cracking (FCC) segment is expected to be the largest during the forecast period
The fluidised catalytic cracking (FCC) segment is estimated to have a lucrative growth. While producing lighter products from crude oil, refineries rely heavily on the fluid catalytic cracking process. In order to produce lighter and more valuable products like diesel oil, jet fuel, LPG, kerosene, and gasoline, the FCC unit converts a number of feed types, including cracked gas oil, gas oil, deasphalted gas oil, vacuum/atmospheric resins, and others. Additionally, the Indian Oil Corporation (IOC) plans to invest billions of rupees in oil refinery expansion through its extension initiatives. The aforementioned considerations indicate that FCC catalysts will play a significant role in boosting the market demand for refining catalysts throughout the forecast period.
The zeolites segment is expected to have the highest CAGR during the forecast period
The zeolites segment is anticipated to witness the fastest CAGR growth during the forecast period. Zeolites are hydrated aluminosilicate minerals with trapped water molecules. Due to their high melting points, tolerance to high temperatures and pressures, and resistance to high pressures, the bulk of manufactured zeolites are employed in the FCC catalysis process for refinery applications. Zeolites are commonly used as catalysts in oil refining, which contributes significantly to its astounding efficiency. They are used to make items like gasoline, diesel, and those made from petroleum and the growing demand for these products is driving an affirmative outlook for market growth.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to growing population, economic development, high crude oil production, and refineries present. Over 14% of the world's refining capacity is represented by China's refinery capacity. Indian Oil Corporation, one of the leading oil refiners, is also located in India. For the purpose of encouraging FDI investments in the oil and gas sector, the Indian government has authorized the Petroleum, Chemicals, and Petrochemicals Investment Region (PCPIR) policy. As a result of increased energy demand in developing nations like China and India, major market competitors are focusing on increasing capacity.
Region with highest CAGR:
Middle East & Africa is projected to have the highest CAGR over the forecast period. Middle East and Africa is the main region for the production of crude oil and petroleum. The top oil producer, Saudi Arabia produced over 90 million tons of oil a year in 2018. Total and Saudi Aramco, a firm that produces oil, decided to extend their joint venture SATORP in Saudi Arabia. Increased shale gas production and tight oil supply are projected to improve raw material supplies to refineries in Saudi Arabia and UAE, leading to a positive influence on the catalyst industry. As a result, the market's need for refinery catalysts will rise in the years to come.
Key players in the market
Some of the key players profiled in the Refinery Catalyst Market include Albemarle Corporation, Haldor Topsoe A/S, BASF SE, W.R. Grace & Co, Axens SA, Honeywell International, Sinopec, Clariant International Ltd., Criterion Catalysts & Technologies L.P., Exxon Mobil Corporation, Porocel, Qingdao Huicheng Environmental Technology, Taiyo koko Limited, Unicat Catalyst Technologies and Yueyang Sciensun Chemical.
Key Developments:
In April 2023, Clariant announced the grand opening of its new CATOFIN catalyst production site in Jiaxing, Zhejiang Province, China. Investing in innovations such as CATOFIN is a core element of Clariant’s new purpose-led strategy, as expressed in the statement ‘Greater chemistry – between people and planet.’
In March 2023, Albemarle Corporation, a leader in the global specialty chemicals industry, announced the official brand launch of Ketjen Corporation, its wholly owned subsidiary that crafts tailored, advanced catalyst solutions for the petrochemical, refining and specialty chemicals industries.
In March 2022, BASF launched today Fourtitude™, a new Fluid Catalytic Cracking (FCC) catalyst designed to maximize butylenes from reside feedstocks. Fourtitude is optimized to deliver superior selectivity to butylenes while maintaining catalyst activity.
Types Covered:
• Hydrocracking
• Hydrotreating
• Reforming
• Isomerization & Alkylation
• Fluidised Catalytic Cracking (FCC)
Ingredients Covered:
• Metals
• Zeolites
• Chemical Compounds
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Refinery Catalyst Market, By Type
5.1 Introduction
5.2 Hydrocracking
5.3 Hydrotreating
5.4 Reforming
5.5 Isomerization & Alkylation
5.6 Fluidised Catalytic Cracking (FCC)
6 Global Refinery Catalyst Market, By Ingredient
6.1 Introduction
6.2 Metals
6.3 Zeolites
6.4 Chemical Compounds
7 Global Refinery Catalyst Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Albemarle Corporation
9.2 Haldor Topsoe A/S
9.3 BASF SE
9.4 W.R. Grace & Co
9.5 Axens SA
9.6 Honeywell International
9.7 Sinopec
9.8 Clariant International Ltd.
9.9 Criterion Catalysts & Technologies L.P.
9.10 Exxon Mobil Corporation
9.11 Porocel
9.12 Qingdao Huicheng Environmental Technology
9.13 Taiyo koko Limited
9.14 Unicat Catalyst Technologies
9.15 Yueyang Sciensun Chemical
List of Tables
1 Global Refinery Catalyst Market Outlook, By Region (2021-2030) ($MN)
2 Global Refinery Catalyst Market Outlook, By Type (2021-2030) ($MN)
3 Global Refinery Catalyst Market Outlook, By Hydrocracking (2021-2030) ($MN)
4 Global Refinery Catalyst Market Outlook, By Hydrotreating (2021-2030) ($MN)
5 Global Refinery Catalyst Market Outlook, By Reforming (2021-2030) ($MN)
6 Global Refinery Catalyst Market Outlook, By Isomerization & Alkylation (2021-2030) ($MN)
7 Global Refinery Catalyst Market Outlook, By Fluidised Catalytic Cracking (FCC) (2021-2030) ($MN)
8 Global Refinery Catalyst Market Outlook, By Ingredient (2021-2030) ($MN)
9 Global Refinery Catalyst Market Outlook, By Metals (2021-2030) ($MN)
10 Global Refinery Catalyst Market Outlook, By Zeolites (2021-2030) ($MN)
11 Global Refinery Catalyst Market Outlook, By Chemical Compounds (2021-2030) ($MN)
12 North America Refinery Catalyst Market Outlook, By Country (2021-2030) ($MN)
13 North America Refinery Catalyst Market Outlook, By Type (2021-2030) ($MN)
14 North America Refinery Catalyst Market Outlook, By Hydrocracking (2021-2030) ($MN)
15 North America Refinery Catalyst Market Outlook, By Hydrotreating (2021-2030) ($MN)
16 North America Refinery Catalyst Market Outlook, By Reforming (2021-2030) ($MN)
17 North America Refinery Catalyst Market Outlook, By Isomerization & Alkylation (2021-2030) ($MN)
18 North America Refinery Catalyst Market Outlook, By Fluidised Catalytic Cracking (FCC) (2021-2030) ($MN)
19 North America Refinery Catalyst Market Outlook, By Ingredient (2021-2030) ($MN)
20 North America Refinery Catalyst Market Outlook, By Metals (2021-2030) ($MN)
21 North America Refinery Catalyst Market Outlook, By Zeolites (2021-2030) ($MN)
22 North America Refinery Catalyst Market Outlook, By Chemical Compounds (2021-2030) ($MN)
23 Europe Refinery Catalyst Market Outlook, By Country (2021-2030) ($MN)
24 Europe Refinery Catalyst Market Outlook, By Type (2021-2030) ($MN)
25 Europe Refinery Catalyst Market Outlook, By Hydrocracking (2021-2030) ($MN)
26 Europe Refinery Catalyst Market Outlook, By Hydrotreating (2021-2030) ($MN)
27 Europe Refinery Catalyst Market Outlook, By Reforming (2021-2030) ($MN)
28 Europe Refinery Catalyst Market Outlook, By Isomerization & Alkylation (2021-2030) ($MN)
29 Europe Refinery Catalyst Market Outlook, By Fluidised Catalytic Cracking (FCC) (2021-2030) ($MN)
30 Europe Refinery Catalyst Market Outlook, By Ingredient (2021-2030) ($MN)
31 Europe Refinery Catalyst Market Outlook, By Metals (2021-2030) ($MN)
32 Europe Refinery Catalyst Market Outlook, By Zeolites (2021-2030) ($MN)
33 Europe Refinery Catalyst Market Outlook, By Chemical Compounds (2021-2030) ($MN)
34 Asia Pacific Refinery Catalyst Market Outlook, By Country (2021-2030) ($MN)
35 Asia Pacific Refinery Catalyst Market Outlook, By Type (2021-2030) ($MN)
36 Asia Pacific Refinery Catalyst Market Outlook, By Hydrocracking (2021-2030) ($MN)
37 Asia Pacific Refinery Catalyst Market Outlook, By Hydrotreating (2021-2030) ($MN)
38 Asia Pacific Refinery Catalyst Market Outlook, By Reforming (2021-2030) ($MN)
39 Asia Pacific Refinery Catalyst Market Outlook, By Isomerization & Alkylation (2021-2030) ($MN)
40 Asia Pacific Refinery Catalyst Market Outlook, By Fluidised Catalytic Cracking (FCC) (2021-2030) ($MN)
41 Asia Pacific Refinery Catalyst Market Outlook, By Ingredient (2021-2030) ($MN)
42 Asia Pacific Refinery Catalyst Market Outlook, By Metals (2021-2030) ($MN)
43 Asia Pacific Refinery Catalyst Market Outlook, By Zeolites (2021-2030) ($MN)
44 Asia Pacific Refinery Catalyst Market Outlook, By Chemical Compounds (2021-2030) ($MN)
45 South America Refinery Catalyst Market Outlook, By Country (2021-2030) ($MN)
46 South America Refinery Catalyst Market Outlook, By Type (2021-2030) ($MN)
47 South America Refinery Catalyst Market Outlook, By Hydrocracking (2021-2030) ($MN)
48 South America Refinery Catalyst Market Outlook, By Hydrotreating (2021-2030) ($MN)
49 South America Refinery Catalyst Market Outlook, By Reforming (2021-2030) ($MN)
50 South America Refinery Catalyst Market Outlook, By Isomerization & Alkylation (2021-2030) ($MN)
51 South America Refinery Catalyst Market Outlook, By Fluidised Catalytic Cracking (FCC) (2021-2030) ($MN)
52 South America Refinery Catalyst Market Outlook, By Ingredient (2021-2030) ($MN)
53 South America Refinery Catalyst Market Outlook, By Metals (2021-2030) ($MN)
54 South America Refinery Catalyst Market Outlook, By Zeolites (2021-2030) ($MN)
55 South America Refinery Catalyst Market Outlook, By Chemical Compounds (2021-2030) ($MN)
56 Middle East & Africa Refinery Catalyst Market Outlook, By Country (2021-2030) ($MN)
57 Middle East & Africa Refinery Catalyst Market Outlook, By Type (2021-2030) ($MN)
58 Middle East & Africa Refinery Catalyst Market Outlook, By Hydrocracking (2021-2030) ($MN)
59 Middle East & Africa Refinery Catalyst Market Outlook, By Hydrotreating (2021-2030) ($MN)
60 Middle East & Africa Refinery Catalyst Market Outlook, By Reforming (2021-2030) ($MN)
61 Middle East & Africa Refinery Catalyst Market Outlook, By Isomerization & Alkylation (2021-2030) ($MN)
62 Middle East & Africa Refinery Catalyst Market Outlook, By Fluidised Catalytic Cracking (FCC) (2021-2030) ($MN)
63 Middle East & Africa Refinery Catalyst Market Outlook, By Ingredient (2021-2030) ($MN)
64 Middle East & Africa Refinery Catalyst Market Outlook, By Metals (2021-2030) ($MN)
65 Middle East & Africa Refinery Catalyst Market Outlook, By Zeolites (2021-2030) ($MN)
66 Middle East & Africa Refinery Catalyst Market Outlook, By Chemical Compounds (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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