A surging energy demand, increasing environmental concerns and steady growth of refineries across the globe are responsible for driving the market for global refinery catalyst. Over the forecast period of 2018-2026, the market is expected to progress with a CAGR of 2.83%.
The global refinery catalysts market is segmented on the basis of materials, products, and applications. The material segment of the market can be further classified into chemicals, metals, zeolite and other materials. The product segment of refinery catalyst market includes Alkylation catalysts, FCC catalysts, Hydroprocessing catalysts, Hydrodesulphurization catalysts, Hydrogen manufacturing catalysts, and Isomerization catalysts. The global refinery catalyst market finds its application in chemical processing, petroleum refining, and environmental safety.
Regionally, the global refinery catalyst market is segmented into North America, Europe, Asia-Pacific and rest of world markets. The APAC market is expected to showcase the highest growth rate over the forecast period, driven by markets of countries like India and China. The region is also witnessing a trend of rising production of polypropylene and polyethylene, which further aids the market growth. The North American refinery catalysts market is expected to dominate the global scene throughout the forecast period. U.S, Canada and Mexico are majorly contributing to this market’s growth as they are blessed with a significant amount of crude oil and natural gas reserves.
Major companies engaged in this market are Axens, Albemarle Corporation, BASF Catalyst Llc, Clariant, Cb & I,Criterion Catalyst & Technology, Evonik Industries Ag, Exxon Mobil Corp,W.R. Grace & Co., Johnson Matthey, Haldor Topsoe, LyondellBasell, Polynt, Nippon Ketjen, PQ Corporation, Sinopec Catalyst Co., Shell Global Solutions, Sud-Chemie Ag (Acquired By Clariant), Honeywell Uop and Unicat Catalyst Technologies Inc.