“The increased demand for refined products and cleaner fuel requirements are anticipated to drive the growth of the refinery catalyst market”
The refinery catalyst market is projected to reach USD 7.98 billion by 2022, at a CAGR of 3.2% from 2017 to 2022. One of the most significant factors driving the growth of the refinery catalyst market is the increased demand for refined products. However, high production cost and diminishing crude oil reserves are acting as key restraints to the growth of the refinery catalyst market. The cost of raw materials required for the production of refinery catalysts has witnessed a significant increase over the past few years. Thus, increase in prices of raw materials has led to the increased cost of refinery catalysts. In addition, limited crude oil reserves are expected to affect the growth of the refinery catalyst industry, owing to high dependency on the production of energy from crude oil.
“The FCC catalysts segment is the largest type segment of the refinery catalyst market”
Among all types, the FCC catalysts segment is estimated to account for the largest share of the refinery catalyst market in 2017, in terms of value and volume. FCC is one of the most important processes used in the manufacture of gasoline. The demand for FCC catalysts is anticipated to witness a significant growth in the near future, as these catalysts utilize FCC additives to meet precise unit specifications, such as low sulfur content, high octane number, low nitrogen oxide emissions, and low levels of carbon monoxide. In addition, the amount of FCC catalysts used to process feedstock will further contribute to the growth of the FCC catalysts segment.
“The rising demand for refinery catalysts from the Asia Pacific region is a major factor driving the growth of the refinery catalyst market”
The refinery catalyst market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. China and India are key markets for refinery catalysts in the Asia Pacific region. The increased demand for transportation fuels is anticipated to drive the growth of the refinery catalyst market in this region.
The break-up of primary interviews is given below.
- By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Others – 20%
- By Designation: C level – 10%, Director level – 40%, and Others – 50%
- By Region: North America – 30%, Asia Pacific – 30%, Europe – 20%, South America – 10%, and the Middle East & Africa – 10%
Key companies profiled in this market research report include Albemarle Corporation (US), W.R. Grace & Co. (US), Axens SA (France), Haldor Topsoe A/S (Denmark), BASF SE (Germany), Johnson Matthey Plc (UK), Honeywell UOP (US), Clariant International Ltd. (Switzerland), and Criterion Catalysts & Technologies L.P. (US).
The refinery catalyst market has been segmented on the basis of type, ingredient, and region. This report covers the refinery catalyst market, in terms of value and volume, and forecasts its market size till 2022. The report includes the market segmentation based on type (FCC catalysts, hydrotreating catalysts, hydrocracking catalysts, catalytic reforming catalysts, and others), ingredient (metals, zeolites, and chemical compounds), and region (Asia Pacific, Europe, North America, the Middle East & Africa, and South America). Key countries considered for market analysis in these regions include China, India, Japan, South Korea, Singapore, Indonesia, Thailand, the US, Canada, Mexico, Germany, Spain, Italy, Russia, Brazil, Saudi Arabia, Qatar, the UAE, Kuwait, and Iran. The report also provides company profiles and competitive strategies adopted by key players in the refinery catalyst market.
Reasons To Buy the report
The report will help market leaders as well as new entrants in this market in the following ways:
- This report segments the refinery catalyst market and provides the closest approximations of revenue numbers for the overall market and its subsegments across different regions.
- This report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report helps stakeholders identify competitors and gain insights to improve their position in the market.
- The competitive landscape section includes new product developments, expansions, agreements, acquisitions, and joint ventures.