To know the impact of COVID-19 On Refinery Catalyst Market By Component(FCC Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, Catalytic Reforming Catalysts), By Ingredient(Zeolites, Metals, Chemical Compounds), Industry Analysis, Trends, And Forecast, 2021-2027
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Refinery Catalyst Market report is segmented on type, ingredient, and by regional & country level. Based upon Type, refinery catalyst market is segmented into FCC Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, and Catalytic Reforming Catalysts. On the basis of ingredient, the market is segmented into Zeolites, Metals, and Chemical Compounds.
Refinery Catalyst Market is valued at USD 6.17 Billion in 2021 and expected to reach USD 8.66 Billion By 2028 with CAGR of 4.33% over the forecast period.
Market Analysis of Refinery Catalyst-
Refinery catalyst are the chemical compounds with are used during petroleum refining and the use of such chemicals eliminate or reduce the content of harmful compounds from the petroleum. The use of refinery catalyst will also enhance the quality of petroleum product and also minimizes the emission of harmful compounds such as Sulphur, nitrogen and others. Stringent fuel quality standards with reduced benzene, nitrogen and others will augment the growth of refinery catalyst market. These catalysts convert the high boiling, hydrocarbon with high molecular weight crude oil into valuable end product like gasoline, diesel and others.
The regions covered in this Refinery Catalyst market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Refinery Catalyst market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for Refinery Catalyst market are Albemarle Corporation, Air Products and Chemicals, Zeolyst International Inc. Arkema Group, Chevron, INEOS Group Limited, Clariant International Limited, BASF SE, Evonic Industries AG, E.I. du Pont de Nemours & Company, Exxon Mobil Corporation, Johnson Matthey PLC, UOP LLC, Eka Chemicals AB, and W.R. Grace & Company among others.
Increase in research and development activities coupled with stringent government regulations is the key factor which helps Refinery Catalyst Market to grow.
There has been tremendous growth in the petroleum industry on a wide scale coupled with the increased demand of clean fuel. There has been increase in the research and development activities to for the development of better refinery catalyst which will help in the production of clean fuel and enhance the overall process. Moreover, the government regulation regarding environment are also expected to enhance the use of refinery catalyst in the process which will eliminate the harmful elements such as sulphur and others. Increase in transportation industry has also increased the demand for petroleum products such as petrol, diesel and others which in turn accelerate the growth of refinery catalyst. The increased demand for refinery catalyst from various end users due to the general characteristics coupled with the increased demand of sulphur and nitrogen free fuel is expected to create opportunities in the refinery catalyst market over the forecast period. However, increasing use of renewable source of energy is expected to hinder the growth of refinery catalyst market in the near future.
North America is expected to dominate the Refinery Catalyst Market.
North America accounted for largest market share and expected to dominate the market. The presence of developed economies such as U.S., Canada and others are expected to drive the growth of refinery catalyst market. These countries have standard regulation for the clean fuel and increased demand for clean fuel is expected to dominate the growth of the refinery catalyst market over the forecast period. Europe is expected to experience the moderate growth over the period of time owing to the stringent government regulation regarding the use of clean fuel and increased awareness about renewable energy sources which may slow down the growth of refinery catalyst market. Asia Pacific is expected to dominate the refinery catalyst market in terms of growth rate which was closely followed by the Middle East. The growths of these regions are owing to the presence of developing economies and coupled with huge number of oil refineries which are expected to promote the growth of refinery catalyst in these regions. Latin America and Africa is expected to develop at a considerable rate over the forecast period.
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Market Segmentation –
- FCC Catalysts
- Hydrotreating Catalysts
- Hydrocracking Catalysts
- Catalytic Reforming Catalysts
- Chemical Compounds
By Regional & Country Analysis:
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
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Refinery Catalyst Market Share and Growth to 2025
Refinery Catalyst Market By Component(FCC Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, Catalytic Reforming Catalysts), By Ingredient(Zeolites, Metals, Chemical Compounds), Industry Analysis, Trends, And Forecast, 2021-2027
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