Refinery Catalyst Market by Type, Ingredient & Region - Global Forecast to 2022
DUBLIN, Dec. 8, 2017 /PRNewswire/ --
The "Refinery Catalyst Market by Type (FCC Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, and Catalytic Reforming Catalysts), Ingredient (Zeolites, Metals, and Chemical Compounds) & Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The refinery catalyst market is projected to reach USD 7.98 Billion by 2022, at a CAGR of 3.2% from 2017 to 2022. The growth of this market can be attributed to the rising demand for petroleum derivatives. In addition, increasing energy consumption is also anticipated to drive the growth of the refinery catalyst market.
Refinery catalysts are used for different processes such as FCC, hydrotreating, hydrocracking, and catalytic reforming. The FCC catalysts segment is the largest type segment of the refinery catalyst market. FCC catalysts play a vital role in the conversion of heavy atmospheric residues and vacuum distillates into fractions of motor fuels, mainly gasoline. The demand for FCC catalysts from the refining industry in emerging economies, such as China and India, and stringent environmental regulations are key factors driving the growth of the FCC catalysts segment.
Based on ingredient, the metals segment accounted for the largest share of the refinery catalyst market in 2016. This growth can be attributed to the increasing use of metals for hydrocracking and hydrotreating to remove unwanted impurities and emission of harmful gases into the environment. Stringent environmental regulations formulated to reduce air pollution by decreasing the sulfur content in gasoline and ultra-low sulfur content in diesel are further anticipated to propel the demand for metals in the refinery catalyst market.
Asia Pacific, North America, Europe, South America, and the Middle East & Africa are key regions considered for market analysis in the report. Currently, Asia Pacific is the largest market for refinery catalysts. This market in the Asia Pacific region is projected to grow at the highest CAGR between 2017 and 2022, in terms of value and volume. The increasing demand for transportation fuels from emerging countries in the Asia Pacific region is anticipated to drive the growth of the refinery catalyst market.
High production cost and diminishing crude oil reserves are acting as key challenges to the growth of the refinery catalyst market. The cost of raw materials used to develop refinery catalysts is expected to rise, thereby affecting the demand for refinery catalysts to a significant extent. In addition, limited crude oil reserves affect the refinery catalyst industry, owing to the dependency on the production of energy from crude oil.
Companies Mentioned
- Albemarle Corporation
- Anten Chemical Co., Ltd.
- Arkema Group
- Axens Sa
- Basf Se
- Chempack
- China Petroleum & Chemical Corporation (Sinopec Corp.)
- Clariant International Ltd
- Criterion Catalysts & Technologies L.P.
- Exxon Mobil Corporation
- Filtra Catalysts And Chemicals Ltd.
- Haldor Topsoe A/S
- Honeywell, Uop Llc.
- Jgc Catalysts And Chemicals Ltd.
- Others
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Refinery Catalysts Market, By Type
7 Refinery Catalysts Market, By Ingredient
8 Refinery Catalysts Market Size, By Region
9 Competitive Landscape
10 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/dqgr8m/refinery_catalyst
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