ALBANY, New York, September 22, 2016 /PRNewswire/ --
Transparency Market Research has published a new report titled "Refinery Catalysts (Zeolites, Molybdenum, Cobalt, Nickel and Others) Market by Form (Powders, Beads and Extrudates) for Fluid Catalytic Cracking Unit, Hydrocracking Unit, H-Oil Unit, Hydrotreating Unit (Naphtha & Distillate), Catalytic Cracking Unit, and Alkylation Unit - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024." According to the report, the global refinery catalysts market was valued at US$ 11,454.2 Mn in 2015 and is anticipated to reach US$ 17,059.2 Mn by 2024, expanding at a CAGR of 4.6% between 2016 and 2024.
Refinery catalysts are used to clean the various distillates obtained from crude distillation units. Impurities such as sulfur and nitrogen need to be reduced to a large extent from fuels. Refinery catalysts play a key role in cleaning impurities from fuels such as gasoline and diesel. Many countries across the globe aim to utilize fuels with maximum sulfur content ranging between 10-50 ppm. This is estimated to boost the refinery catalysts market across the globe in the next few years.
The catalysts used in refineries are generally made from the materials such as Molybdenum, Cobalt, Nickel, Alumina & Silica (Zeolites) and others. Zeolites were the widely consumed materials followed by cobalt and nickel. Zeolites are employed to upgrade the gasoline which is of high demand in developed countries. Cobalt combined with molybdenum is used as a catalyst to clean the middle distillates. In general, refinery catalysts are available in three forms: Powders, Beads and Extrudates. Powders were widely consumed physical form in refinery catalysts market followed by extrudates in 2015. The catalysts in powders form have wide range of applications in cleaning gasoline and also middle distillates such as diesel.
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The units in which the catalysts are employed are segmented as follows: Fluid Catalytic Cracking (FCC), Hydrocracking, H-Oil, Hydrotreating (Naphtha & Distillate), Alkylation, and Catalytic Reforming (CRU). Upgraded gasoline is the main product of FCC unit. The sulfur level is reduced with the help of catalysts in FCC unit and cleaner gasoline is obtained. Refinery catalysts were widely consumed by FCC units across the globe in 2015. This is due to the rising demand cleaner gasoline primarily in developed countries. Naphtha and middle distillates obtained from the crude distillation unit are further refined in naphtha hydrotreater and distillate hydrotreater to obtain fuels with less impurities. The demand for hydrotreating catalysts exhibited a significant share in the near past and is estimated to continue during the forecast period. This is due to the rising demand for cleaner diesel from Asia Pacific.
Hydrocracking units are used to crack the gas oils having higher boiling point into gasoline and diesel. Besides this, it also upgrades the products obtained from FCC units in the presence of catalyst. The demand for hydrotreating catalysts is expected to expand at a substantial rate in the next few years.
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Expansion in the automotive sector is anticipated to propel the refinery catalysts market in Asia Pacific. This is projected to augment the demand for refinery catalysts, as high quantity of crude oil would need to be refined. The demand for refinery catalysts North America is anticipated to expand at a rapid rate during the forecast period. This is due to the increasing demand for cleaner gasoline in the U.S. The number of automobile units in the region are estimated to rise at a significant rate. The refinery catalysts market is also expanding in regions such as the Middle East and Latin America.
Major players in the refinery catalysts market include Royal Dutch Shell Plc., ExxonMobil Corporation, BASF SE, Honeywell International Inc., Johnson Matthey Plc., and Albemarle Corporation.
The refinery catalysts market has been divided into the following segments.
Refinery Catalysts Market - Refining Unit Analysis
- Fluid Catalytic Cracking
- Catalytic Reforming
Refinery Catalysts Market - Material Analysis
- Others (including platinum, etc.)
Refinery Catalysts Market - Physical Form Analysis
Refinery Catalysts Market - Regional Analysis
- Rest of Europe
- Rest of Asia Pacific
Middle East & Africa
- Rest of Middle East & Africa
- Rest of Latin America
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