Global Refinery catalyst Market is valued approximately at USD 4.0 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3.0% over the forecast period 2021-2027. Refinery catalyst is a substance which aids in the conversion of refinery naphthas into high-octane liquid products. The final product of these process is called reformats. The global refinery catalyst market is being driven by rising consumption of petroleum derivatives as well as growing number of stringent regulations for vehicle emissions across the world. Furthermore, increasing research and development investments to reduce cost and improve quality of catalysts and backward integration by major refinery catalysts manufacturers, will provide new opportunities for the global refinery catalyst industry. For instance, according to the report of Statistia ,in 2021, the demand of crude oil is expected to rise at 96.5 million barrels per day as compare to 91 million barrels per day in 2020. The OPEC projects global oil project demand is expected to reach 109 million barrels per day by the year end 2045. As a result, increase in consumption of these petrol derivatives will necessitate the use of more refinery in the production of different petrol derivatives, which will serve as a catalyst for the refinery catalyst industry in the future. However, concerns regarding declining crude oil reserves and increasing demand for electric vehicles may impede market growth over the forecast period of 2021-2027.
Asia Pacific, North America, Europe, Latin America, and Rest of the World are the key regions consider for the regional analysis of global refinery market. The increasing population, growing industrialization, strict government norms, and environmental regulation are the key factors which makes Asia Pacific a significant region across the world in terms of market share. Whereas Europe is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027 due to increasing developments in capacities of oil production in oil refineries of emerging countries in the region.
Major market player included in this report are:
W R grace
China petroleum and chemical Corporation
Shell catalysts and technologies
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Hydro processing catalysts
Catalytic reforming catalyst
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Refinery catalystsMarket in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers