"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Refinery Catalyst Market Size, Share & Industry Analysis, By Type (Zeolites, Metallic, and Chemical Compounds), By Application (FCC, Alkylation, Hydrotreating, Hydrocracking, Catalytic Reforming, and Others), and Regional Forecast, 2024-2032

Last Updated: November 25, 2024 | Format: PDF | Report ID: FBI101090

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global refinery catalyst market size was USD 4.82 billion in 2023 and is projected to grow from USD 5.01 billion in 2024 to USD 6.77 billion by 2032 at a CAGR of 3.8% during the 2024-2032 period. Asia Pacific dominated the refinery catalyst market with a market share of 35.68% in 2023.


Refinery catalysts are chemical ingredients used during the refining process to remove unwanted impurities such as nitrogen, metal contamination, and sulfur. These catalysts include zeolites, calcium carbonate, molybdenum, palladium, zirconium, which are used independently or in different combinations to improve the operating effectiveness of petroleum. The growing refinery rate to obtain more petroleum products such as gasoline, high octane fuel, kerosene, diesel, polymers, and others is driving the demand for the catalyst for refining. The rising demand for fuel for transportation applications is expected to boost the growth of the market.


The COVID-19 pandemic had a substantial influence on the market, causing supply chain disruptions and decreasing demand due to declines in global gasoline consumption. This slowdown gas caused delays in refinery expansions and renovations, limiting the adoption of catalyst technology and potentially impacting market development and innovation in the long run.


Refinery Catalyst Market Trends


Investment to Enhance Catalysts Qualities and Lower Fuel Cost to Create Growth Opportunities


The rising investment in research & development, technologies, and capacity expansion in the refinery industry creates opportunities for refinery catalysts. Leading manufacturers in the market are focusing on adopting new technologies, propriety designs, equipment up-gradation for these catalysts while improving margins. Companies are improving the catalytic properties of the products to ensure stability and reliability. This will help them to produce high-quality fuel with reduced cost. Moreover, the growing demand for the refinery to produce petroleum products and derivatives such as plastics, petroleum wax, naphthalene, paraffin wax, and refined asphalt is driving the growth of the market.


Tighter Rules on Sulfur Emissions are Pushing Demand for Cleaner Fuels Benefitting the Market


Stricter environmental restrictions, particularly aimed at reducing sulfur emissions, are propelling the global demand for cleaner fuels. This involves the development of Ultra-Low Sulfur Diesel (ULSD) and gasoline, both of which require advanced catalyst technologies, such as hydro-treating catalysts. These catalysts aid in the removal of sulfur compounds from crude oil and other feedstock by hydrosulfurization (HDS), resulting in fuel products that meet stringent sulfur content requirements.


The increasing demand for ULSD and petrol production catalysts creates considerable potential for the market. Refineries throughout the world are progressively investing in infrastructure upgrades to fulfil regulatory standards and growing consumer demand for greener fuels. As a result, there is an increasing demand for innovative catalyst solutions that improve the efficiency and efficacy of sulfur removal procedures, which is driving the market’s expansion and diversification. This trend not only addresses environmental concerns but also fosters technological advancements and refinery catalyst market growth.


Request a Free sample to learn more about this report.


Refinery Catalyst Market Growth Factors


Increasing Demand for High Octane Fuel to Aid Market Growth


Growing demand for high octane fuel from the automotive industry due to consumer need for lower cost of fuel is driving the market. The automobile manufacturers are introducing efficient engine technologies, which in turn is creating demand for higher octane fuels. Moreover, the potential environmental, economic, and engine benefits of high octane are also additional benefits. Ethanol is a high octane fuel with a blending octane rating of 114, making ethanol the cleanest and affordable fuel source. Moreover, the increasing consumption of petroleum derivatives for making various consumer-needs products is also a major factor driving this market.


RESTRAINING FACTORS


Fluctuating Prices of Crude Oil and Stringent Regulation over Emissions to Affect Market


Fluctuating prices and decreasing reserves for crude oil have caused the shift to alternative solutions for crude oil extraction. The decrease in the extraction process will reduce the demand. The extraction methods often produce crude oil with a high sulfur content and sour crude oil, making it difficult to remove sulfur content and causing a high emissions rate. The increase in emissions has led to the implementation of stringent regulations related to strict sulfur emission standards. This, supported by the availability of substitutes such as biofuels to protect environmental harm, further restricts fuel production application demand. Moreover, technological advancement has also led to a consumer shift towards the electric vehicle, which acts as another restricting factor.


Refinery Catalyst Market Segmentation Analysis


By Type Analysis


To know how our report can help streamline your business, Speak to Analyst


Zeolites Segment has the Dominant Share in the Market owing to its Demand from Refinery Applications


Based on type, the Market is segmented into zeolite, metallic, and chemical compounds.  


Zeolites are hydrated aluminosilicate minerals having water molecules trapped in between. The majority of zeolites produced are used for the FCC catalysis process for refinery applications due to high-pressure resistance, high-temperature resistance, and high melting points. They are used to produce gasoline, diesel, and petroleum-derived products, and the growing demand for these products is driving an affirmative outlook for market growth.


Metallic catalysts include precious metals such as platinum and palladium, rare earth elements, and transition metals such as molybdenum, tungsten, and zirconium. All these metals are used as refinery catalysts during hydroprocessing and FCC catalytic refining processes. Chemical compounds used for refining applications are calcium carbonate and hydrofluoric acid. Growing demand for refining to obtain fuels is a key factor propelling the segment growth.


By Application Analysis


FCC Segment is Expected to Have the Highest Share due to Increasing Gasoline Production


Based on application, the market is categorized into FCC, Alkylation, Hydrotreating, Hydrocracking, Catalytic Reforming, and Others.


FCC (Fluid catalytic cracking) accounted for the largest refinery catalyst market share in 2023, where it is used for converting high-molecular weight hydrocarbon fractions in crude oil into a more convenient substance for use. The growth in the segment can be attributed to a higher rate of gasoline production and more byproduct gases to produce olefins, thus creating more economic value. The growing consumption of polyolefin to produce different types of plastics is driving the demand for FCC catalysts.


Hydroprocessing is a catalytic refining process that includes hydrotreating and hydrocracking. These processes are used to remove unwanted impurities such as metals, sulfur, and nitrogen from crude oil by reacting with hydrogen. The substantial increase in hydroprocessing catalysts volumes can be associated with the rapid growth of distillate hydrotreating capacity to meet the demand for ultra-low sulfur transportation fuels.


The alkylation process is done to convert crude oil into a high octane gasoline component, alkylate. The process provides clean-burning and antiknock properties and uses catalysts such as sulfuric acid, hydrofluoric acid, and ionic liquids. Moreover, Reforming catalysts segment growth can be attributed to the rising expansion and investment in refineries from leading companies is creating demand for catalytic reforming units.


REGIONAL INSIGHTS


Asia Pacific Refinery Catalyst Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The market in Asia Pacific stood at USD 1.72 billion in 2023. The growth in the region is due to economic development, high crude oil production, and refineries present. China is a major contributor to refining and accounted for 15.6% of the total oil refining capacity in 2018. India stood at second position with 4.97 million bpd and had prime oil refining capacity in the Asia-Pacific region. The rising demand for transportation fuel is driving the market.


North America is expected to have substantial growth in the consumption of refinery catalysts during the estimated period. The high number of oil reserves and the increasing oil imports in the region support the market. The U.S. is the largest importer of crude oil, with a production rate of 15.3 million bpd and having oil reserves of 61,200 million barrels. Moreover, technological adoption of processes to reduce fuel costs is further expected to contribute to market growth.


Europe is anticipated to have growth associated with favorable regulations from the European Union and development to improve oil recovery and promotion of biofuels. The initiative to provide sustainable solutions for fuels such as ethanol is creating refinery catalysts demand.


In Latin America, Brazil, Venezuela, and Mexico are major countries producing crude oil supplies. The countries had oil capacities of 2.6 million bpd, 1.5 million bpd, and 2 million bpd. Fastest growing fuel consumption for transportation applications is boosting the market.


The Middle East & Africa is the major petroleum and crude oil-producing region. Saudi Arabia is the largest petroleum producer, contributing to approximately 90 million tons per annum in 2018. Saudi Aramco, an oil-producing company, and Total agreed to expand joint venture SATORP in Saudi Arabia. This will increase the demand for refinery catalysts in the market in the forthcoming years.


To know how our report can help streamline your business, Speak to Analyst


List of Key Companies in Refinery Catalyst Market


Expansion in Production Capacities of Major Companies to Strengthen Their Positions


The key players present in the global market are Albemarle Corporation, BASF SE, Haldor Topsoe A/S, Honeywell International Inc., and Clariant. Albemarle Corporation is one of the major players in the market that primarily provides FCC catalysts processing for petroleum refining. The company also has hydroprocessing and catalyst reforming manufacturing units. Secondly, Haldor Topsoe A/S uses the latest and upgraded technologies for refining through hydroprocessing. Companies profiled are adopting strategies such as global and capacity expansion, new product development, and investing in technological advancement to gain a competitive edge.


LIST OF KEY COMPANIES PROFILED



  • Albemarle Corporation (U.S.)

  • BASF SE (Germany)

  • Haldor Topsoe A/S (Denmark)

  • Honeywell International Inc. (U.S.)

  • Clariant (Switzerland)

  • Axens (France)

  • Johnson Matthey (U.K.)

  • China Petroleum & Chemical Corporation (China)

  • Royal Dutch Shell plc (Netherlands)

  • Arkema (France)

  • ANTEN CHEMICAL CO., LTD. (China)

  • Other Key Players


KEY INDUSTRY DEVELOPMENTS



  • January 2023 – Albemarle Corporation announced the brand launch of “Ketjen”, a wholly-owned subsidiary that created customized, sophisticated catalyst solutions for the specialty chemical, refining, and petrochemical sectors.

  • February 2021 –Bharat Petroleum Corporation Limited subsidiary, Numaligarh Refinery Limited (NRL   has designated Axens for supplying advanced technologies in the gasoline block for its Numaligarh Refinery Expansion Project (NREP). The company has planned to expand the refinery capacity 9000 KT per annum.

  • September 2020 – Clariant announced the construction of    a new catalyst production site in China. The company invested a significant amount which further strengthens the position in China while also enhancing the ability to support the customer base in the local region. The production facility will be producing CATOFIN catalyst for propane dehydrogenation.


REPORT COVERAGE


An Infographic Representation of Refinery Catalyst Market

To get information on various segments, share your queries with us



The global refinery catalyst market report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, applications, and types. Also, the report offers insights into market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth of the market over recent years.


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation
















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 3.8% from 2024 to 2032



Unit



Value (USD Billion); Volume (Kiloton)



Segmentation



By Type



  • Zeolites

  • Metallic

  • Chemical Compounds



By Application



  • FCC

  • Alkylation

  • Hydrotreating

  • Hydrocracking

  • Catalytic Reforming

  • Others



By Geography



  • North America (By Type, By Application, By Country)

    • U.S. (By Type)

    • Canada (By Type)



  • Europe (By Type, By Application, By Country)

    • Germany (By Type)

    • France (By Type Type)

    • Italy (By Type)

    • Spain (By Type)

    • Russia (By Type)

    • Rest of Europe (By Type)



  • Asia Pacific (By Type, By Application, By Country)

    • China (By Type)

    • Japan (By Type)

    • India (By Type)

    • South Korea (By Type)

    • Rest of Asia Pacific (By Type)



  • Latin America (By Type, By Application, By Country)

    • Brazil (By Type)

    • Rest of Latin America (By Type)



  • Middle East & Africa (By Type, By Application, By Country)

    • Saudi Arabia (By Type)

    • Iran (By Type)

    • UAE (By Type)

    • Rest of Middle East & Africa (By Type)








Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 4.82 billion in 2023 and is projected to reach USD 6.77 billion by 2032.

In 2023, the Asia Pacific market size stood at USD 1.72 billion.

Growing at a CAGR of 3.8%, the market will exhibit steady growth during the forecast period (2024-2032).

Based on application, the FCC is the leading segment.

The increasing demand for fuel in transportation applications is expected to drive market growth.

Albemarle Corporation, BASF SE, Haldor Topsoe A/S, Honeywell International Inc., and Clariant are a few leading market players.

Asia Pacific dominated the global market in 2023.

The growing demand for high octane fuels is a driving factor leading to product adoption.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts
Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 200
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X