Refinery Catalyst Market

2020 Analysis and Review: Refinery Catalyst Market by Product Type –FCC, Reforming, Hydrotreating, Hydrocracking, Isomerization and Alkylation for 2020 – 2030

Introduction

Refinery catalysts find applications in the petroleum refineries globally. These catalysts are responsible for the cracking process. Refinery catalysts help in achieving cleaner petroleum products. The growth in the petrochemical industry is likely to boost the growth of global refinery catalyst market.

Regulations regarding emission control of vehicles are getting stricter by the day. Growing concerns regarding the use of cleaner and greener energy is the key factor driving the global refinery catalyst market.

Additionally, rising need for transportation owing to ever increasing global population is also emerging as one of the major drivers of the refinery catalyst market worldwide. The improving access to aviation and other automotive transportation options to the general public also is expected to act as a chief driver of the market.

According to Future Market Insights (FMI), the global refinery catalyst market is projected to grow at a CAGR of 4.2% over the forecast period 2020-2030. The market is expected to show sustainable growth and reach market value of more than US$12 Bn by the end of 2030.

Rising Demand for Fuel with High Octane Number

Increasing demand for fuel with high octane number is witnessed in the market. This might lead to growth of refinery catalyst market. Octane number signifies the quality of the fuel. Higher the octane number, better the fuel.

High octane number fuels generate more energy with same amount of fuel. Also, they help in preventing wear and tear of the engine of the vehicle.  Owing to these properties, high quality fuels that can increase the life of machines and vehicles are witnessing a surge in the market.

Refinery catalysts market is expected to witness growing demand as they help in obtaining fuels with high octane numbers. Refinery catalysts can operate at varying temperatures and increase the rate of activity even when used in small quantities. This is expected to reflect in the growing demand for global refinery catalyst market.

Rising Concerns for Environmental Safety to Push Demand

Population around the world is increasing, which has resulted into increased transportation needs. The rising number of vehicles on road are increasing the amount of pollutants released in the environment. Governments across the world are taking cognizance of this and bringing in stricter regulations to lower the emissions from the vehicles.

This is prompting manufacturers to opt for improved refining process. Refining catalysts are capable of reducing the pollution created by diesel-powered and gasoline powered engines.

Furthermore, refinery catalysts help in saving the environment by finding application in production of renewable fuels from biomass.

These measures help both end users and manufacturers and are expected to boost the demand for refining catalysts in the future.

Key Challenges

The global refinery catalyst market is consolidated, competitive, and dominated by large players. These key manufacturers rule the market on the basis of good product offerings, large supplier base and a strong business network.

Small scale players and new entrants in the market face a tough competition from these key manufacturers as bigger players enjoy the advantage of a greater brand value and image that distinguishes them.

Also, the expansion strategies employed by these companies to reach out to the regional markets poses competition to the regional players. Competitive trends prevailing in the market might threaten its growth prospects. Additionally, faster adoption of renewable energy sources may hamper the market and prove to be a challenge for the established companies and new entrants alike.

Regional Analysis

North America Refinery Catalyst Market

North America refinery catalyst market is expected to record CAGR of more than 2% by the end of forecast period 2030. The market is projected to reach more than US$ 3Bn with increasing opportunities in the region owing to rising use of petroleum feedstocks in the industries.

Countries such as Canada and the U.S. are leading the market, pushing North America to cover nearly 1/3rd of the global refining catalyst market.

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Europe Refinery Catalyst Market

Europe market for refinery catalysts is projected to reach US$ 2 Bn by the end of forecast period 2020-2030. The region is witnessing surge in investment in the fuel industry in response to the rising demand from various sectors. Countries such as Germany, France, Italy, and the U.K. are investing in the refining catalysts market, which is expected to rise at 2.5% CAGR in the next decade.

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Asia Pacific Refinery Catalyst Market

APAC is projected to dominate the refinery catalysts market during the forecast period 2020-2030.rising population, increase in the industrialization in the region, stricter government regulations with respect to environment are few key factors responsible for the overall growth of the industry. Also, the increase in oil production capacities in developing countries is providing sustainable growth opportunities in the region.

Owing to these factors, the region is expected to be the most lucrative one in the next decade with CAGR of 4.8%. High growth rate and huge market share are projected to contribute to the increase in market value of refining catalyst market in the region which is expected to reach around US$ 6Bn mark by the end of 2030.

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Category-wise Analysis

FCC to Continue Market Dominance

In terms of product type, the FCC segment has emerged dominant and is expected to continue leading, accounting for more than 44% of the market through the forecast period. Owing to its unique properties that are required for optimization of the proportion of gasoline produced in the oil refineries, FCC is projected to continue the growth over the forecast period.

It is followed by hydrotreating, which is projected to grow significantly over the forecast period 2020-2030. Hydrocracking is expected to show significant growth by the end of 2030, along with other product types such as reforming and isomerization and alkylation.

Zeolites to Remain Key Ingredient

In terms of ingredient, the refinery catalysts market is classified into zeolites, metals, and chemical compounds. Zeolites are expected to be the most lucrative segment during the forecast period, reaching CAGR of around 4% by the end of 2030.

Zeolites find high usage owing to their porous structure which allows them to work selectively on particular molecules. These shape selective catalysts are projected to cover half of the market compared to other ingredients.

Competitive Landscape

Several companies are operating in the global refinery catalyst market. This makes it very competitive. Key manufacturers are focusing on expanding their footprint in the market through networking and strengthening their supplier base.

Also, product innovation and new product launches are some of the strategies employed by players in the global refinery catalyst market in order to gain advantage over the competition.

Furthermore, gauging at the way e-commerce is becoming a part of the overall market, players are focusing on developing business through by increasing their digital presence.

For instance, Albemarle Corporation has launched a new technology for fluid catalytic cracking (FCC) catalyst called ‘the granite’. The granite technology platform is based on a novel matrix system which enables refiners to maximize their profitability. This high profitability is achieved due to several factors such as better bottoms upgrading, improvement in coke selectivity and higher zeolite stability.

Some of the leading players in the global refinery catalyst market are

  • Exxon Mobil
  • Albemarle Corporation
  • W.R. Grace and Co.
  • Honeywell International Inc.
  • Clariant AG
  • BASF SE
  • Axens SA
  • Haldor Topsoe A/S

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report

Refinery Catalyst Market Report: Scope

Attribute

Details

Forecast Period

2020-2030

Historical Data Available for

2015-2019

Market Analysis

USD Million for value and units for volume

Key Regions Covered

North America, Europe, East Asia, Latin America, South Asia, Oceania, and Middle East and Africa (MEA)

Key Countries Covered

US, Canada, Brazil, Mexico, Rest of Latin America, Germany, Italy, France, Spain, U.K., Russia, Rest of Europe, China, Japan, South Korea, India, Malaysia, Thailand, Indonesia, Australia, New Zealand, South Africa, and Rest of MEA

Key Segments Covered

Product type, Ingredient, Region

Key Companies Profiled

Exxon Mobil, Albemarle Corporation, W.R. Grace and Co., Honeywell International Inc., Clariant AG, BASF SE, Axens SA, Haldor Topsoe A/S

Report Coverage

Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered by the Report

  • How has COVID-19 impacted the refinery catalysts market?

    Disruptions witnessed in petrochemical production have been creating hindrances for the refinery catalysts market. Lack of labor supply and restrictions posed on transport are common factors hampering growth in the market during COVID-19.

  • How are companies planning on gaining competitive edge in refinery catalysts market?

    Companies operating in the market are focusing on strategic collaborations to expand their footprint worldwide. Besides this FMI observes considerable focus on innovations and product launches, even as market players seek to establish their presence across ecommerce platforms.

  • Which is the most preferred ingredient used in refinery catalysts market?

    Among various materials used for refinery catalysts, the demand for zeolite is the highest and is projected to remain so in the near future.

  • What is the outlook on refinery catalysts market?

    FMI analysts anticipate the market to benefit from the rising transportation. Key players focus on innovative product launches and partnering with distributors in order gain competitive advantage. Countries in Asia Pacific rank highest in the potential market category during forecast period.

Enquiry before Buying

  • Is this research conducted by Future Market Insights?

    Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

  • Is a sample of this report available for evaluation?

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REFINERY CATALYST MARKET TAXONOMY

Product Type

  • FCC
  • Reforming
  • Hydrotreating
  • Hydrocracking
  • Isomerization & Alkylation

Ingredients

  • Zeolites
  • Metals
  • Chemical Compounds

Region

  • North America
  • Latin America
  • Europe
  • Asia-Pacific
  • Middle East & Africa

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