“Refining Catalysts Market” report provides an in-depth research of market-based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Refining Catalysts Market is comprehensively prepared with main focus on the competitive landscape, geographical growth, segmentation, and market dynamics, including drivers, restraints, and opportunities. It also analyzes the current and future prospect of Refining Catalysts Market.
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Key Insights of Refining Catalysts Market:
- Complete in-depth analysis of the Refining Catalysts
- Important changes in market dynamics.
- Segmentation analysis of the market.
- Emerging segments and regional markets.
- Historical, on-going, and projected market analysis based on volume and esteem.
- Assessment of niche industry players.
- Market share analysis.
- Key strategies of major players
Refining Catalysts Market Segmentation by Top Key Players:
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Scope of the Report:
Key Market Trends:
Fluid Catalytic Cracking (FCC) Catalysts to Dominate the Market
– The fluid catalytic cracking (FCC) process plays a crucial role in refineries while producing lighter products from crude oil.
– FCC unit helps in converting a variety of feed types, such as cracked gas oil, gas oil, deasphalted gas oils, vacuum/atmospheric resins, and others, into lighter and high-value products, such as diesel oil, jet fuel, LPG, kerosene, and gasoline.
– Today, there are more than 500 FCC units in the world. Around 35% of the total gasoline and 50% of the total transportation fuel is produced through FCC processing.
– In the FCC unit, the feedstock is heated at high temperature and moderate pressure. Along with this, the feedstock is brought in contact with a catalyst which helps to break the long-chain molecules of the high-boiling hydrocarbon liquids into small molecules, which are further collected in the form of vapors.
– In the FCC process, the catalysts are used in the form of fine powders. Previously, catalysts, such as amorphous silica-alumina were used for cracking vacuum gas oils in the FCC unit.
– Owing to the aforementioned factors, FCC catalysts are of great importance in propelling the market demand for refining catalysts in the forecast period.
Asia-Pacific to Dominate the Market
– In 2018, Asia-Pacific accounted for the largest share in the market for refining catalysts with almost half of the global share and is also expected to be the fastest growing market.
– China is the major market holder and accounted for more than 40% share of the region. China’s refinery capacity is about 14177 thousand barrels per day which constitute 14.6% of the world’s refining capacity.
– Additionally, one of the top oil refiners in India, Indian Oil Corp. Ltd announced its plan to invest INR 1.8 trillion along with the expansion of Barauni and Gujarat refineries in order to expand the refining capacity in the country in the coming five years.
– Furthermore, Rotary Engineering Ltd, Singapore has signed a contract with Emirates National Oil Co. (ENOC) of Dubai which amounts to USD 1 billion. Rotary Engineering will make 12 storage tanks refinery which will store the increased production of jet fuel, naphtha, and gasoline blendstocks.
– Such investments are expected to boost the market for refining catalysts in the region during the forecast period.
– The huge growth of Asia-Pacific is quite instrumental in the expansion of the refining catalysts market.
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Refining Catalysts Market Covers Following Points in TOC:
- Chapter 1: Refining Catalysts Market Definition
- Chapter 2: Research Methodology of Refining Catalysts Market
- Chapter 3: Refining Catalysts Market Executive Summary
- Chapter 4: Refining Catalysts Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
- Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
- Chapter 6: Refining Catalysts Market Segmentation by Types, End-User, and Applications Forecast to 2024
- Chapter 7: Refining Catalysts Market Segmentation by Geographical Regions
- Chapter 8: Competitive Landscape of Refining Catalysts Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
- Chapter 9: Key Players for Refining Catalysts Market
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