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Refining catalyst is a substance that aids in the conversion of petroleum refinery naphthas into high-octane liquid products. Because of their ownership, refinery catalysts are commonly used in petroleum refineries to change the chemical reaction rate. In addition, the quality of the gasoline products generated by FCC and hydro-processing is also enhanced. The market for refinery catalysts is known to minimize the negative environmental impacts of petrol and diesel. This is because they assist with the crude oil removal of sulfur.
Growth in the worldwide market for refinery catalysts is ascribed primarily to strict public legislation on the use of crude oil goods. It is widely used to convert the high-boiling, high molecular weight hydrocarbon fractions of crude petroleum oils into more valuable gasoline, olefinic gases, and other products. Strict norms and standards combined with higher petroleum derivatives consumption are anticipated to accelerate development. Furthermore, the increase in demand for transport fuel is boosting the market growth.
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The refinery catalyst market can be bifurcated into FCC (fluid catalytic cracking), hydrotreating, hydrocracking, catalytic reforming, alkylation catalyst, and others. Hydrotreating catalysts are expected to witness growth as it removes sulfur, nitrogen, olefins, aromatics, and other contaminants from distilled crude oil fractions and intermediate process streams. FCC is a chemical process that uses a catalyst, mostly zeolite, together with heat to split the higher molecular weight hydrocarbons into lighter hydrocarbons with lengthy carbon chains.
Based on the ingredient, the metals segment is expected to hold the largest share of the refinery catalyst market owing to the increasing use of metals for hydrocracking and hydrotreating to remove unwanted impurities and emission of harmful gases into the environment. Strict environmental regulations designed to decrease air pollution by reducing gasoline sulfur content and diesel ultra-low sulfur content are also expected to boost demand for metals on the refinery catalyst market
The key market driver for the refinery catalyst market is increasing energy consumption along with rising demand for petroleum derivatives. In addition, stringent government regulations, along with an increasing number of automotive and aviation industry, have also uplifted the demand for refinery catalyst market. The rapidly increasing demand for gasoline and diesel has increased the requirement of raw materials for their production resulting in the attraction of manufacturers towards refinery catalysts.
High production cost and diminishing crude oil reserves are acting as key challenges to the growth of the refinery catalyst market. The cost of raw materials used to develop refinery catalysts is expected to rise, thereby affecting the demand for refinery catalysts to a significant extent. In addition, limited crude oil reserves affect the refinery catalyst industry, owing to the dependency on the production of energy from crude oil.
Some of the major companies that are present in the global refinery catalyst market are Albemarle Corporation , W.R. Grace & Co. , Axens SA , Haldor Topsoe A/S , BASF SE , Johnson Matthey Plc , Honeywell UOP , Clariant International Ltd. , Criterion Catalysts & Technologies L.P. Filtra Catalysts and Chemicals Ltd. , JGC Catalysts and Chemicals Ltd. , KNT Group , NIPPON KETJEN Co., Ltd, Porocel Corporation , Qingdao Huicheng Environmental Technology Co., Ltd. , and Yueyang Sciensun Chemical Co., Ltd.
· FCC Catalyst
· Hydrotreating Catalyst
· Hydrocracking Catalyst
· Catalytic Reforming Catalyst
· Alkylation Catalyst
· Chemical Compounds
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
The global refinery catalyst market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the U.S leads the region’s growth and has a significant demand for fuel and crude oil by-products. Europe is one of the major markets for crude oil tankers, as it has the highest consumption in the transportation sector. In Asia-Pacific, the increasing demand for transportation fuels from emerging countries is anticipated to drive the growth of the refinery catalyst market. The region also has the demand center for most of the petroleum fuels owing to a large number of vehicle population in these countries & is expected to witness the fastest growth across the globe due to the up gradation and capacity expansions of refineries in India and China. Latin American oil production is dominated by Brazil, Mexico, and Venezuela. Middle Eastern countries such as UAE, Kuwait, Saudi Arabia, and Iraq perform high oil refining, production, and other trade activities as they have significant financial resources.
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