Refinery Catalyst Market Research Report - Global Refinery Catalyst Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Refinery Unit Type, By Catalyst Type, By Geography, Leading Companies)

Refinery Catalyst Market Research Report - Global Refinery Catalyst Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Refinery Unit Type, By Catalyst Type, By Geography, Leading Companies)

The initial section of the report gives a brief snapshot of the worldwide refinery catalyst market along with the future projections of market growth during the years of forecast. The executive summary presented in this chapter also covers the major trends shaping the refinery catalyst market. Further, chapter 2 of the report sheds light on the key market dynamics, followed by detailed analysis of the industry’s value chain.

COVID-19 Impact Analysis

The global COVID-19 pandemic has had a harsh impact on the refinery industry that imposed on the industry a heavy loss of approximately 6 million barrels per day. While this significantly influenced the industry’s sales volume, it revived relatively fast post-pandemic, overcoming the substantial demand plunge. The report suggests a major shift the market after that, involving the supply and procurement contractors showing greater preference for the local or regional suppliers in their network.

Market Growth Drivers

The increasing stringency of the regulatory guidelines for fuel economy is largely influencing the dynamics of the refinery catalyst market. Growing concerns around global energy security, especially in case of transportation fuel, further elevates the growth prospects of the market.
There has been a growing need for production of sweet fuel, recently, on the back of regulatory limitations on conventional gasoline and diesel. This will create a favourable growth environment for the refinery catalyst industry.

“Notable capacity expansions of refineries worldwide will foster the demand for catalysts worldwide. The cleaner fuel boom is also creating the necessary tailwinds,” states the analyst at the company.

Segment Outlook

The global refinery catalyst market report has segmented the market according to the type of refinery, and type of catalyst. The former breaks down the market into fluid catalytic cracking (FCC), hydrocracking, catalytic reforming, H-oil unit, alkylation, and hydrotreating. The FCC segment remains dominant with more than 44% share of the overall market revenue. By the end of 2030, this category is likely to display over 5% growth in sales, indicates the report.

Among nickel, cobalt, zeolites, molybdenum, and others, the nickel segment of the refinery catalyst market accounts for over 28% of the overall market size. The molybdenum segment rises high on the back of growing application. Refineries tend to take up more than17% of the global molybdenum production volume, which highlights the promising growth prospect of the segment. The report also calls zeolites an attractive segment of the market and predicts a steady growth outlook for the same through 2030.

Regional Outlook

With nearly 33% share of the market revenue, Asia Pacific is at the forefront in the global refinery catalyst market. The market here is expected to witness growth in demand for hydrocracking and distillate hydrotreating catalysts in the wake of regulatory restrictions on diesel, especially in China, and India. Ascending demand for clean fuel is likely to shape the refinery catalyst market in Asia Pacific.

A number of refineries in the region have recently added new catalytic cracking units, which has pushed the market prospects up till 2020. Moreover, several reforming units have also been established recently, especially in Japan, Singapore, and Malaysia. These developments will keep Asia Pacific in the bandwagon.

Given the fact that the US, and Canada are housing the manufacturing facilities of Euro-6 standards compliant vehicles, the demand for refinery catalysts is likely to gain an indirect boost. The market in North America will also reap the benefit from notable shale gas expansion. On the other hand, Russia-centric developments are shaping the markets in Europe.

Leading Market Players

Some of the leading competitors that have been covered in the strategic analysis section of the report, include Albemarle Corporation, Haldor Topsoe A/S, Chevron Lummus Global, BASF, W. R. Grace & Co.-Conn, Johnson Matthey Plc., Honeywell International Inc., Axen, Sinopec Corporation, Advanced Refining Technologies LLC (ART), and Royal Dutch Shell.Please note: the PDF e-mail from publisher version of this report is for a global site license.