Global Refinery Catalyst Market Size To Worth USD 7.9 Billion By 2033 | CAGR of 3.88%
Category: Chemicals & MaterialsGlobal Refinery Catalyst Market Size To Worth USD 7.9 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Refinery Catalyst Market Size is Expected to Grow from USD 5.4 Billion in 2023 to USD 7.9 Billion by 2033, at a CAGR of 3.88% during the forecast period 2023-2033.
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Browse key industry insights spread across 259 pages with 94 Market data tables and figures & charts from the report on the "Global Refinery Catalyst Market Size, Share, and COVID-19 Impact Analysis, By Type (FCC Catalyst, Hydrotreating Catalysts, Hydrocracking Catalysts, and Catalytic Reforming Catalysts), By Ingredients (Zeolites, Metals, and Chemical Compounds), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/refinery-catalyst-market
The refinery catalyst market refers to the commercial exchange of chemical compounds that are used in petroleum refineries to accelerate and control chemical reactions during the refining process. A refinery catalyst is defined as any dual-functioning chemical substance that speeds up chemical reactions to convert crude oil into fuels and petrochemicals. They are employed in a variety of processes, including reforming, hydrotreating, and catalytic cracking. The upsurging investment for enhancing catalyst qualities and lower fuel costs are offering lucrative market growth opportunities. The growing need for high-octane fuel in the automotive industry owing to its low cost is propelling the refinery catalyst market. The increasing need for refinery catalysts due to their ability to effectively transform them into premium petroleum products like gasoline and diesel is driving the market demand. On the contrary, the fluctuation in the prices of crude oil and strict regulations over emissions are negatively affecting the market growth.
The FCC catalyst segment dominated the market with the largest market share in 2023 and is anticipated to witness significant CAGR growth during the projected timeframe.
Based on the type, the refinery catalyst market is classified into FCC catalyst, hydrotreating catalysts, hydrocracking catalysts, and catalytic reforming catalysts. Among these, the FCC catalyst segment dominated the market with the largest market share in 2023 and is anticipated to witness significant CAGR growth during the projected timeframe. In petroleum refineries, FCC catalysts break down larger hydrocarbons into smaller ones for easy utilization. The growing use of polyolefins in the production of various plastic kinds is driving the market.
The zeolites segment held the largest revenue share of the refinery catalyst market in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the ingredients, the refinery catalyst market is classified into zeolites, metals, and chemical compounds. Among these, the zeolites segment held the largest revenue share of the refinery catalyst market in 2023 and is expected to grow at a significant CAGR during the forecast period. Zeolite catalysts are frequently the most economical and effective techniques, particularly when converting refinery streams into premium fuels and lubricants. The growing need for these items in the production of gasoline, diesel, and products derived from petroleum is driving the market.
Asia Pacific is estimated to hold the largest share of the refinery catalyst market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the refinery catalyst market over the forecast period. The increasing need for transportation fuel as well as the growing refinery investment are propelling the market for refinery catalyst. The economic development, high crude oil production, and presence of refineries in the region are all contributing to driving the market.
North America is predicted to grow at the fastest CAGR in the refinery catalyst market over the forecast period. The region’s large oil reserves and rising oil imports are responsible for driving the refinery catalyst market. Further, the rising need for refineries in the United States is propelling the regional market growth.
Major key players in the global refinery catalyst market include Albemarle Corporation, BASF SE, Haldor Topsoe A/S, Honeywell International Inc., Clariant, Axens, Johnson Matthey, China Petroleum & Chemical Corporation, W R Grace, Royal Dutch Shell plc, Arkema, ANTEN CHEMICAL CO., LTD., Shell Catalyst & Technologies, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In December 2024, BASF officially opened its new Catalyst Development and Solids Processing Center in Ludwigshafen, Germany. This research facility would serve as a hub for pilot-scale synthesis of chemical catalysts, enabling BASF to offer its global customers faster access to innovative technologies.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the refinery catalyst market based on the below-mentioned segments:
Global Refinery Catalyst Market, By Type
- FCC Catalyst
- Hydrotreating Catalysts
- Hydrocracking Catalysts
- Catalytic Reforming Catalysts
Global Refinery Catalyst Market, By Ingredients
- Zeolites
- Metals
- Chemical Compounds
Global Refinery Catalyst Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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