[258 Pages] Future Market Insights (FMI) has projected the global refinery catalyst market to witness a year-on-year growth of4.5%in 2022 reaching a value of aboutUS$ 9,011.0 Mnby 2022 end. Catalysts are utilized in the refinery industry to transform heavy oil into lucrative, distillable products.
New growth opportunities in the refinery catalysts market are projected to emerge as a result of product diversification and enhancement. Global refinery catalyst market is anticipated to witness a considerable growth of 4.6% CAGR during the period 2022 and 2030.
| Attribute | Details |
|---|---|
| Global Refinery Catalyst Market Value (2021A) | US$ 8,620 Million |
| Global Refinery Catalyst Market Demand (2022E) | US$ 9,011 Million |
| Projected Refinery Catalyst Market (2030F) | US$ 12,366 Million |
| Value CAGR (2022 to 2030) | 4.6 % |
| Collective Value Share: Top 3 Countries (2022E) | 44.9% |
FMI has identified the Asia Pacific region to remain a key market for refinery catalyst market over the forecast period owing to significant demand from end-use sector. The region is estimated to witness a value CAGR of 5.7% in the industry of refinery catalyst market.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.5% |
| H1,2022 Projected (P) | 4.2% |
| H1,2022 Outlook (O) | 4.3% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 10 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 20 ↓ |
A half-yearly comparison of the growth forecast for the market of refinery catalysts has been presented by Future Market Insights with recent market developments occur in the market. Urbanization, growing industrialization, and increasing demand for petroleum and chemical products are expected to boost the refining catalyst market.
To cater to growing strict environmental regulations key players are opting for a better refining procedure to reduce pollutants generated by diesel and gasoline engines. Key players are further expanding their catalyst production capacities to meet the growing demand for efficient fuels production and increase in refinery capacity.
The global market for refinery catalysts in H1 2021 has witnessed growth at magnitude of 4.5%. The growth of the market remains highly uneven across various regions with Europe and Latin America region witnessing a moderate growth outlook. India, China, and some ASEAN countries are estimated to witness a significant growth rate owing to rising demand from the petrochemical industries, providing the growth outlook of 4.2% over the first half of 2022.
Higher growth outlook in India, China, and some ASEAN countries had slightly benefit the consumption rate of 10 bps of refinery catalysts in H1 2022 as compared to earlier projections. Owing to increase in refinery capacity in these countries the growth prospects to remain significant.
Despite the positive prospects, there are certain challenges that lie ahead for industrial growth, this includes growing availability of alternative fuels such as bioethanol, biodiesel, among others, increasing adoption of “Go Green” campaigns and strict emission standards in developed economies, with increase in usage of electric vehicles worldwide, are expected to impact the growth outlook of the global market in the coming years.
The demand outlook for refinery catalyst market between 2015 and 2021 remains 2.7% as the pandemic crisis has impacted the market. The world's population is growing, which has resulted in increasing transportation through several mediums. This increase in the transportation is enhancing the demand for fuel, which is boosting the consumption of catalyst in the refinery industries. Regional Government are focusing on decreasing air pollution caused by IC engine vehicles.
As a result, manufacturers are opting for a better refining procedure. Refining catalysts have the ability to reduce pollutants produced by diesel and gasoline engines. Even when used in tiny quantities, refinery catalysts can work at different temperatures and improve the pace of activity. The growth of the refinery catalyst market is likely to grow at a growth rate of 3.7% by volume over the assessment period of 2022-2030.
Principal Consultant
The petrochemical industry is one of the key sector contributing significantly in the economic growth of a nation. The ongoing developments in the petrochemicals industry have generated a demand for efficient fuels that will have superior activity, selectivity and lifetime.
Refining catalysts are used in such applications for hydrogenation, dehydrogenation, amination, oxidation, halogenation, dehydration and hydration reactions. The critical applications of refinery catalysts are growing and their use is being adopted across these industries to facilitate easy processing of fuels.
A number of companies worldwide are investing in research and development that will drive fuel usage in the future and consequently drive the global refining catalysts market.
Industrialists and researchers are focusing on methods to minimize the environmental impact from the refinery industries. They need to comply with the mandatory regulations pertaining to air and water quality. These regulations are also necessary to shed light on product quality specifications and have set high standards for operations.
Continuously setting compliance with these regulations and standards is a big threat to overall industry operations. It includes controlled air emissions, reduced toxicity in effluent discharges and management of sulphur concentrations in final product and also discharge fuels.
These requirements and significant adjustments to the process of refining have reshaped operational configurations and magnified capital investments. Overall it is a negative factor in market growth and is proving to be a restraint for the future.
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The covid-19 pandemic had a significant impact on the global economy resulted in severe loss to the manufacturing sector. Previously, oil prices were falling due to failed production-cut agreements, and the demand for chemicals and refined products was declining as a result of industrial slowdowns and travel restrictions in the aftermath of the global pandemic.
Lower consumption has had a substantial influence on the global refinery catalyst market, however it is expected to recover in the year 2021 as the demand for the catalysts owing to the increasing demand from the refinery industries. This is due to the ease of the restrictions from the second half of 2020.
In the United States, refineries with small cracking capacity have increases the production of higher-valued fuels in the recent past. During last few years, the United States went from being one of the world's key net importers of refined products to one of the largest exporters. Companies in the U.S. are broadening their global reach through improving distribution network, which will enhance their consumer reach.
All these factors are expected to boost the demand for the refinery catalyst in the coming years. Further sales of several number of vehicles had also boosted the demand for petroleum. The market of refinery catalyst is expected to be benefited in the coming years through these scenarios. In 2022, U.S. refinery catalyst market is expected to register 2.6% y-o-y growth by volume.
In terms of the existence of oil and petroleum product manufacturing units, Russia is one of the key producer of crude oil and natural gas. In Russia, the growing tendency of manufacturing expansion is also promoting demand growth. The expansion of distribution network by Russia, as well as the establishment of a strong presence in the existing areas, are projected to drive long-term demand.
In Russia, vertical integration is being explored to combat rising raw material prices. Several manufacturers are working significantly on expanding their production capacity in the worldwide refinery catalysts market, notably in the European region, where competition is fierce. Russia is anticipated to remain a prominent market in the European region and the market of refinery catalyst to witness a CAGR of 2.9% over the period of 2022 and 2030.
In terms of oil and petroleum product consumption, Asia-Pacific is the key market influencer for refining catalysts. It has a rapidly rising population and considerable purchasing power. The greater customer base in this region is boosting the demand for vehicles and other modes of transportation. China is anticipated to possess over half of the market value share in the Asia-Pacific region.
Due to the availability of raw materials at an efficient price, low labor costs, and favorable government rules governing pine tapping, China accounts for a key share of Asia Pacific market.
Moreover, government policies for supporting end-use industries such as, reducing the customs duty, providing tax and other incentives, and relaxing FDI norms are expected to positively affect the growth of the market. China Refinery Catalyst Market is estimated to create an incremental dollar opportunity of US$ 1,062 Mn during the period of 2022 and 2030.
FCC is anticipated to witness a significant growth in the global market owing to its significant characteristics enhancing the efficiency for a refinery industry. Fluid catalytic cracking (FCC) is a refinery catalyst for cracking residual oil, heavy oil, and wax oil. The catalyst and heat are used by the FCC to break down the big molecules of gas oil into smaller molecules.
It is employed in order to maximize the proportion of gasoline produced. The global refinery catalysts market is projected to be dominated by the FCC segment, which is expected to continue in the future assessment period. The FCC segment is projected to create an absolute dollar opportunity of more than US$ 647.0 Mn during the period of 2022 and 2030.
The zeolites segment is expected to witness a significant growth rate due to its simplicity of processing and abundant availability in the industrial sector, making it a preferred ingredient type. As refinery catalysts are increasingly used as an octane upgrading element, the increased demand for high-octane fluids is expected to create considerable opportunities in the coming years.
For these reasons, zeolites and metal complexes such as platinum are often used in refineries. The Zeolites segment is projected to reach a value of US$ 3,127.0 Mn by the end of the forecast period.
Over the past few years, development in the petroleum and petrochemical industries and changes in government policies have been witnessed to increase the applications of refinery catalyst. Several key players are focusing on sustainable development, they are focusing on investing a fair share of their annual turnover to boost the application of the catalyst. The emergence of various manufacturers had also been witnessed in global businesses especially in China, India, Russia, and the U.S.
For Instance
The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2030 |
| Historical Data Available for | 2015 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Europe; Asia Pacific; Latin America; and Middle East and Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Rest of Latin America, Germany, Italy, France, Spain, UK, 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 | W.R. Grace & Co; Albemarle Corporation; BASF SE; Sinopec; Haldor Topsoe A/S; Axens SA; Clariant International Ltd; Honeywell International; Criterion Catalysts & Technologies L.P; Exxon Mobil Corporation |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Global Refinery Catalyst Market is expected to total US$ 9,011 Mn in 2022.
During the forecast period, the demand for Refinery Catalyst is expected to increase by a CAGR of 4.6% on value basis.
W.R. Grace & Co, Albemarle Corporation, BASF SE, Axens SA, Clariant International Ltd, Honeywell International and others are the key market players. The key market partcipants are anticipated to account for about 48% of the global market share.
The demand in China is expected to increase by 6.7% CAGR between 2022 and 2030 on value basis.
U.S., China, India and Russia are the key consumers Refinery Catalyst.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply-Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Innovation / Development Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product USPs / Features 4.3. Strategic Promotional Strategies 5. Global Refinery Catalysts Market Demand Analysis 2015-2021 and Forecast, 2022-2030 5.1. Historical Market Volume (Tons) Analysis, 2015-2021 5.2. Current and Future Market Volume (tons) Projections, 2022-2030 5.3. Y-o-Y Growth Trend Analysis 6. Global Refinery Catalysts Market - Pricing Analysis 6.1. Regional Pricing Analysis By Ingredient 6.2. Pricing Break-up 6.3. Global Average Pricing Analysis Benchmark 7. Global Refinery Catalysts Market Demand (in Value or Size in US$ Mn) Analysis 2015-2021 and Forecast, 2022-2030 7.1. Historical Market Value (US$ Mn) Analysis, 2015-2021 7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2030 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Market Background 8.1. Macro-Economic Factors 8.1.1. Global Economic Growth Outlook 8.1.2. Global Chemical Industry Outlook 8.1.3. Global Catalyst Market Overview 8.1.4. Other Macro-Economic Factors 8.2. Forecast Factors - Relevance & Impact 8.2.1. Manufacturing Industry Value Added & Expansion of Production Capacities 8.2.2. Industrialization Growth Outlook 8.2.3. Growth in End-Use Industries 8.2.4. Other Forecast Factors 8.3. Value Chain 8.3.1. List of Manufacturers 8.3.2. List of Distributors 8.3.3. List of Suppliers 8.3.4. Profitability Margin 8.4. Market Dynamics 8.4.1. Drivers 8.4.2. Restraints 8.4.3. Opportunity Analysis 8.5. Cost-Structure Analysis 8.6. COVID-19 Impact 9. Global Refinery Catalysts Market Analysis 2015-2021 and Forecast 2022-2030, by Product Type 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) and Volume Analysis By Product Type, 2015 - 2021 9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Product Type, 2022 - 2030 9.3.1. FCC (Fluidised Catalytic Cracking) 9.3.2. Reforming 9.3.3. Hydrotreating 9.3.4. Hydrocracking 9.3.5. Isomerization & Alkylation 9.4. Market Attractiveness Analysis by Product Type 10. Global Refinery Catalysts Market Analysis 2015-2021 and Forecast 2022-2030, by Ingredient 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Mn) and Volume Analysis By Ingredient, 2015 - 2021 10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Ingredient, 2022 - 2030 10.3.1. Zeolites 10.3.2. Metals 10.3.3. Chemical Compounds 10.4. Market Attractiveness Analysis by Ingredient 11. Global Refinery Catalysts Market Analysis 2015-2021 and Forecast 2022-2030, by Region 11.1. Introduction 11.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2015 - 2021 11.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2022 - 2030 11.3.1. North America 11.3.2. Latin America 11.3.3. Europe 11.3.4. Asia-Pacific 11.3.5. Middle East & Africa 11.4. Market Attractiveness Analysis By Region 12. North America Refinery Catalysts Market Analysis 2015-2021 and Forecast 2022-2030 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021 12.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030 12.4.1. By Product Type 12.4.2. By Ingredient 12.4.3. By Country 12.4.3.1. U.S. 12.4.3.2. Canada 12.5. Market Attractiveness Analysis 12.5.1. By Product Type 12.5.2. By Ingredient 12.5.3. By Country 12.6. Market Trends 12.7. Drivers and Restraints - Impact Analysis 13. Latin America Refinery Catalysts Market Analysis 2015-2021 and Forecast 2022-2030 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021 13.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030 13.4.1. By Product Type 13.4.2. By Ingredient 13.4.3. By Country 13.4.3.1. Brazil 13.4.3.2. Mexico 13.4.3.3. Rest of Latin America 13.5. Market Attractiveness Analysis 13.5.1. By Product Type 13.5.2. By Ingredient 13.5.3. By Country 13.6. Market Trends 13.7. Drivers and Restraints - Impact Analysis 14. Europe Refinery Catalysts Market Analysis 2015-2021 and Forecast 2022-2030 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021 14.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030 14.4.1. By Product Type 14.4.2. By Ingredient 14.4.3. By Country 14.4.3.1. Germany 14.4.3.2. Italy 14.4.3.3. France 14.4.3.4. U.K. 14.4.3.5. Spain 14.4.3.6. Russia 14.4.3.7. BENELUX 14.4.3.8. Rest of Europe 14.5. Market Attractiveness Analysis 14.5.1. By Product Type 14.5.2. By Ingredient 14.5.3. By Country 14.6. Market Trends 14.7. Drivers and Restraints - Impact Analysis 15. Asia-Pacific Refinery Catalysts Market Analysis 2015-2021 and Forecast 2022-2030 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021 15.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030 15.4.1. By Product Type 15.4.2. By Ingredient 15.4.3. By Country 15.4.3.1. India 15.4.3.2. ASEAN 15.4.3.3. Japan 15.4.3.4. China 15.4.3.5. Rest of Asia-Pacific 15.5. Market Attractiveness Analysis 15.5.1. By Product Type 15.5.2. By Ingredient 15.5.3. By Country 15.6. Market Trends 15.7. Drivers and Restraints - Impact Analysis 16. Middle East and Africa Refinery Catalysts Market Analysis 2015-2021 and Forecast 2022-2030 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2021 16.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2022 - 2030 16.4.1. By Product Type 16.4.2. By Ingredient 16.4.3. By Country 16.4.3.1. GCC Countries 16.4.3.2. Turkey 16.4.3.3. Northern Africa 16.4.3.4. South Africa 16.4.3.5. Rest of Middle East and Africa 16.5. Market Attractiveness Analysis 16.5.1. By Product Type 16.5.2. By Ingredient 16.5.3. By Country 16.6. Market Trends 16.7. Drivers and Restraints - Impact Analysis 17. Key and Emerging Countries Refinery Catalysts Market Analysis 17.1. U.S. Refinery Catalysts Market Analysis 17.1.1. By Product Type 17.1.2. By Ingredient 17.2. Canada Refinery Catalysts Market Analysis 17.2.1. By Product Type 17.2.2. By Ingredient 17.3. Mexico Refinery Catalysts Market Analysis 17.3.1. By Product Type 17.3.2. By Ingredient 17.4. Brazil Refinery Catalysts Market Analysis 17.4.1. By Product Type 17.4.2. By Ingredient 17.5. Germany Refinery Catalysts Market Analysis 17.5.1. By Product Type 17.5.2. By Ingredient 17.6. Italy Refinery Catalysts Market Analysis 17.6.1. By Product Type 17.6.2. By Ingredient 17.7. France Refinery Catalysts Market Analysis 17.7.1. By Product Type 17.7.2. By Ingredient 17.8. U.K. Refinery Catalysts Market Analysis 17.8.1. By Product Type 17.8.2. By Ingredient 17.9. Spain Refinery Catalysts Market Analysis 17.9.1. By Product Type 17.9.2. By Ingredient 17.10. BENELUX Refinery Catalysts Market Analysis 17.10.1. By Product Type 17.10.2. By Ingredient 17.11. Russia Refinery Catalysts Market Analysis 17.11.1. By Product Type 17.11.2. By Ingredient 17.12. China Refinery Catalysts Market Analysis 17.12.1. By Product Type 17.12.2. By Ingredient 17.13. Japan Refinery Catalysts Market Analysis 17.13.1. By Product Type 17.13.2. By Ingredient 17.14. India Refinery Catalysts Market Analysis 17.14.1. By Product Type 17.14.2. By Ingredient 17.15. ASEAN Refinery Catalysts Market Analysis 17.15.1. By Product Type 17.15.2. By Ingredient 17.16. GCC Refinery Catalysts Market Analysis 17.16.1. By Product Type 17.16.2. By Ingredient 17.17. Turkey Refinery Catalysts Market Analysis 17.17.1. By Product Type 17.17.2. By Ingredient 17.18. South Africa Refinery Catalysts Market Analysis 17.18.1. By Product Type 17.18.2. By Ingredient 17.19. Northern Africa Refinery Catalysts Market Analysis 17.19.1. By Product Type 17.19.2. By Ingredient 18. Market Structure Analysis 18.1. Market Analysis by Tier of Companies (Refinery Catalysts) 18.2. Market Share Analysis of Top Players 18.3. Market Presence Analysis 19. Competition Analysis 19.1. Competition Dashboard 19.2. Competition Deep Dive 19.2.1. W.R. Grace & Co 19.2.1.1. Overview 19.2.1.2. Product Portfolio 19.2.1.3. Sales Footprint 19.2.1.4. Strategy Overview 19.2.2. Albemarle Corporation 19.2.2.1. Overview 19.2.2.2. Product Portfolio 19.2.2.3. Sales Footprint 19.2.2.4. Strategy Overview 19.2.3. BASF SE 19.2.3.1. Overview 19.2.3.2. Product Portfolio 19.2.3.3. Sales Footprint 19.2.3.4. Strategy Overview 19.2.4. Sinopec 19.2.4.1. Overview 19.2.4.2. Product Portfolio 19.2.4.3. Sales Footprint 19.2.4.4. Strategy Overview 19.2.5. Haldor Topsoe A/S 19.2.5.1. Overview 19.2.5.2. Product Portfolio 19.2.5.3. Sales Footprint 19.2.5.4. Strategy Overview 19.2.6. Axens SA 19.2.6.1. Overview 19.2.6.2. Product Portfolio 19.2.6.3. Sales Footprint 19.2.6.4. Strategy Overview 19.2.7. Clariant International Ltd. 19.2.7.1. Overview 19.2.7.2. Product Portfolio 19.2.7.3. Sales Footprint 19.2.7.4. Strategy Overview 19.2.8. Honeywell International 19.2.8.1. Overview 19.2.8.2. Product Portfolio 19.2.8.3. Sales Footprint 19.2.8.4. Strategy Overview 19.2.9. Criterion Catalysts & Technologies L.P. 19.2.9.1. Overview 19.2.9.2. Product Portfolio 19.2.9.3. Sales Footprint 19.2.9.4. Strategy Overview 19.2.10. Exxon Mobil Corporation 19.2.10.1. Overview 19.2.10.2. Product Portfolio 19.2.10.3. Sales Footprint 19.2.10.4. Strategy Overview 20. Assumptions and Acronyms Used 21. Research Methodology
Chemicals & Materials
April 2023
REP-GB-14244
315 pages
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Refinery Catalyst Market
