Global RFCC Catalyst Market Size To Worth USD 332.7 Million By 2033 | CAGR of 3.55%
Category: Chemicals & MaterialsGlobal RFCC Catalyst Market Size To Worth USD 332.7 Million by 2033
According to a research report published by Spherical Insights & Consulting, the Global RFCC Catalyst Market Size is Expected to Grow from USD 234.8 Million in 2023 to USD 332.7 Million by 2033, at a CAGR of 3.55% during the forecast period 2023-2033.
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Browse key industry insights spread across 225 pages with 119 Market data tables and figures & charts from the report on the "Global RFCC Catalyst Market Size, Share, and COVID-19 Impact Analysis, By Type (Zeolite, Non-Zeolite, and Others), By Application (Heavy Gas Oil (HGO), Vacuum Gas Oil (VGO), Residue Feedstock, and Others), 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/rfcc-catalyst-market
The market for specialty catalysts utilized in the process, known as the residual fluid catalytic cracking (RFCC) catalyst market, is an essential phase in the refining of petroleum. In this process, heavier parts of crude oil are "cracked" or broken down to create lighter, more valuable products like gasoline, diesel, and other petrochemicals. A reactor technique comparable to that of the FCC process is used in the residue fluid catalytic cracking (RFCC) business, which is perfect for processing heavy and polluted feedstock. Catalysts are used in catalytic cracking as functional additions. Refineries' adoption of more effective catalytic solutions in response to regulatory demands to reduce gasoline emissions and sulfur content is further driving the growth of RFCC catalysts market. Changes in the demand for goods and feed are driving R&D investments for catalyst materials. The global RFCC catalyst market is being driven by the increasing demand for lighter petroleum products, such as gasoline and diesel, which are produced by converting heavy wastes. However, the high expense of developing and producing catalysts is one of the market's limiting issues, which may prevent some refineries, especially smaller ones, from adopting them.
The zeolite segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the type, the RFCC catalyst market is classified into zeolite, non-zeolite, and others. Among these, the zeolite segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The zeolite-based RFCC catalysts have improved resistance to metal poisoning and coke production, which prolongs their life and lowers operating expenses.
The vacuum gas oil (VGO) segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the RFCC catalyst market is divided into heavy gas oil (HGO), vacuum gas oil (VGO), residue feedstock, and others. Among these, the vacuum gas oil (VGO) segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The segment for vacuum gas oil (VGO) is due to its vital function in improving the production of gasoline and refining efficiency.
Asia Pacific is estimated to hold the largest share of the RFCC catalyst market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the RFCC catalyst market over the forecast period. The Asia Pacific region is a prime candidate region for advanced refining technology due to its vast infrastructure. The Asia Pacific area is pushing refineries to use high-performance catalysts to boost product yield and reduce emissions, helping them maintain their market-leading positions.
North America is predicted to grow at the fastest CAGR growth in the RFCC catalyst market over the forecast period. The use of RFCC catalysts in North America is essential to the effectiveness of refining operations, such as the transformation of heavy oils into lighter, more valued products like gasoline and diesel.
Major key players in the RFCC catalyst market include BASF SE., R. Grace Company, Arkema, Albemarle Corporation, E. CHEMCAT, Johnson Matthey, Kuwait Catalyst Company, Flour Corporation, JGC CORPORATION, Exxon Mobil Corporation., Honeywell International Inc., McDermott, Porocel Corporation, Yueyang Sciensun Chemical Co., Ltd., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In August 2024, the commercial launch of FourtivaTM, a novel Fluid Catalytic Cracking (FCC) catalyst for gasoil to mild resid feedstock, was announced by BASF. The Multiple Frameworks Topology (MFT) and BASF's most recent Advanced Innovative Matrix (AIM) technologies are combined in Fourtiva to create an optimized catalyst design that maximizes butylene yields and selectivity over propylene while enhancing naphtha octane, LPG olefinicity, and reducing coke and dry gas.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the RFCC catalyst market based on the below-mentioned segments:
Global RFCC Catalyst Market, By Type
- Zeolite
- Non-zeolite
- Others
Global RFCC Catalyst Market, By Application
- Heavy Gas Oil (HGO)
- Vacuum Gas Oil (VGO)
- Residue Feedstock
- Others
Global RFCC 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
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