South America Refining Catalysts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

South America Refining Catalysts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The South America refining catalysts market is estimated to witness a significant growth, at an estimated CAGR of over 2%, over the forecast period. Accelerating demand for higher octane fuels are expected to drive the market during the forecast period.

Key Highlights

• Volatility in precious metal prices are likely to hinder the market’s growth.
• By ingredient, the zeolites segment accounted for the largest market share and is expected to grow during the forecast period owing to the fact that it is used in almost all types of refining units with major consumption in fluidized catalytic cracking units.
• Brazil is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.

Key Market TrendsFluid 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.
• 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. However, in the early 1960s, zeolite was commercially introduced as FCC catalysts, which had been a significant advancement in the history of catalytic cracking.
• Owing to the aforementioned factors, FCC catalysts are of great importance in propelling the market demand for refining catalysts in the forecast period.

Brazil to Dominate the Market

• Brazil is the largest consumer of refining catalysts in the South American region. The country has total 17 oil refineries, out of which, Petrobras is managing 14 refineries.
• Despite the recession, domestic prices of gasoline and diesel in Brazil remained above global market prices. The refinery projects have been put on hold in the country, which, in turn, increases the imports of the petroleum products in the coming years. Therefore, it is expected to affect the refining catalyst market over the forecast period.
• Petrobras is planning for new partnerships, which will be help inject money into the refining sector. This, in turn, is expected to drive the refining catalyst market over the forecast period.
• Due to the above-mentioned factors, the market for refining catalysts in the country is projected to grow during the forecast period.

Competitive Landscape

The South America refining catalysts market is consolidated in nature. Key players in the market include BASF SE, Albemarle Corporation, Haldor Topsoe A/S, and W. R. Grace & Co.-Conn., among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Albemarle Corporation
Axens
BASF SE
Chevron Corporation
Clariant
DuPont
Evonik Industries AG
Exxon Mobil Corporation
Haldor Topsoe A/S
Honeywell International Inc
JGC C & C
Johnson Matthey
W. R. Grace & Co.
Conn.

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.