The Refinery Catalyst Market is estimated to be $6.81 Billion in 2017 and is projected to grow at a CAGR of 3.2% to reach $7.98 Billion by 2022. Refining catalysts are used for accelerating the rate of chemical reaction. They are mainly used by petroleum refineries to remove sulfur from gasoline, oil and diesel. These substances enhanced the operational efficiency ofpetroleum refining process which improves the output quantity. Due to the increase in the demand for transportation fuels, it is no doubt that petroleum catalysts segment is the fastest growing segment of this industry. Currently, metals segment holds the largest share.
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Increased demand for refined products, upgradation of low NCI refineries (NCI (Nelson Complexity Indices) is an indicator of the capability of a refinery to produce higher quantities of the desired refined products) and demand for octane rated products are some of the important factors for this growth. In addition, the rising demand for automobiles and industrial activity gives a further boost to the consumption of refinery catalysts.
Additionally, with the enactment of stringent emission regulations combined with growing environmental concerns the refinery catalysts manufacturers are focusing in developing new catalysts and technologies to maximize the output from tight oil feedstock with minimum emissions.
However, there are certain challenges like enactment of stringent emission regulations to reduce thesulfur and NOx content in the air, rising consumption of biofuels, huge investment needs in R&D and rising demand for high-performance fuels. Moreover, there are certain drawbacks that this market faces, such as high production costs and declining oil reserves.
The Global Refining Catalysts market, can be segmented on the basis of type such as Reforming Catalysts, Fluid Catalytic Cracking Catalysts, Hydrotreating Catalysts,Isomerization Catalysts, Hydrocracking Catalysts, Alkylation Catalysts and Other Catalysts. Another segmentation can be on the basis of ingredients such as Metal, Zeolites, Aluminosilicates and Other Chemicals. It is estimated that Zeolites will lead the market with 46% share by 2020.
The market can be geographically segmented into North America,South America, Asia-Pacific, Europe, Middle-East & Africa. North America lead the market in 2015. Due to consistent growth in industrial activities, demand for automobiles and high-performance fuel, the US has been estimated to be the upcoming biggest market in the world. Asia-pacific is also estimated to grow at a CAGR of 6.6%. However, high production costs may act as an obstacle in the growth of the refining catalysts industry in the North American region.
Some of the major players in the market are Air Products and Chemicals, Chevron Corp., Chicago Bridge& Iron Company, China National Petroleum Corporation, ExxonMobil Corporation and Honeywell International Inc.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
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