Global Refining Catalysts Market Analysis & Trends - Industry Forecast to 2030
Refining Catalysts: Market Size
From $4,326.9 million in 2024, the global Refining Catalysts market is projected to reach $6,493.5 million by 2030. Based on our analysis the market is expected to grow at a CAGR of 7.0% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include increasing refining activities, growing demand for higher octane fuel, and rising focus to manage operational efficiency.
Global Refining Catalysts Market: Market Dynamics
The growing demand for cleaner petroleum products is the major factor driving the growth of the refining catalyst market during the assessment period. Moreover, the growing population across the globe has triggered the need for energy, which is contributing to the growth of the market.
On the other hand, the stringent emission regulations are likely to obstruct the profit boundaries. In addition, increasing R&D investments to reduce cost and improve quality of catalysts will further boost for the Refining Catalysts market.
Impact of COVID-19 on Refining Catalysts
The lockdown imposed as a result of Covid-19 pandemic has affected the operations of refineries. Thus, the refining catalysts market has been negatively impacted during the pandemic period.
By Type
Fluid Catalytic Cracking Catalysts Segment Dominate the Market in 2024
The fluid catalytic cracking catalysts segment made huge revenue in 2024 and growing its prominence during the forecast period. Fluid catalytic cracking is one of the most important secondary conversion processes used in refineries. It is used to produce additional gasoline, primarily, from the gas oils produced in the atmospheric and vacuum distillation units.
By Geography
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific region is likely to have a huge demand in the forecast period owing to the presence of the most populated economies in the region. The rapid development of polymer manufacturing and refining companies in the region is also affecting the market growth positively.
List of the Key Players Profiled in the Market Include:
• BASF SE • DuPont • Royal Dutch Shell plc • Exxon Mobil Corporation • Honeywell International Inc • Albemarle Corporation • Evonik Industries AG • Chevron Corporation • Johnson Matthey • W. R. Grace & Co.Conn. • Haldor Topsoe A/S • Clariant • Axens • JGC C & C • China Petroleum & Chemical Corporation
List of the Regions/Countries Profiled in the Market Include:
North America • US • Canada • Mexico Europe • Germany • U.K • Italy • France • Spain • Rest of Europe Asia Pacific • China • Japan • India • Australia • New Zealand • Rest of Asia Pacific Middle East • Saudi Arabia • UAE • Rest of Middle East Latin America • Argentina • Brazil • Rest of Latin America Rest of the World (RoW) • South Africa • Others
1 Market Outline
1.1 Definition
1.2 Market Segmentation & Scope
1.3 Market Trends
1.4 Regulatory Factors
1.5 Product Analysis
1.6 Strategic Benchmarking
1.7 Opportunity Analysis
2 Executive Summary
3 Research Methodology and Data Source
3.1 Methodology/Research Approach
3.1.1 Research Programs/Design
3.1.2 Market Size Estimation
3.2 Data Source and Assumptions
3.2.1 Purchased Database
3.2.2 Company Repository
3.2.3 Secondary Sources
3.2.4 Primary Research
3.2.5 List of Assumptions
4 Market Overview
4.1 Current Trends
4.1.1 Increasing Refining Activities
4.1.2 Growing Demand for Higher Octane Fuel
4.1.3 Rising Focus to Manage Operational Efficiency