Global Refinery Catalyst Market Report and Forecast 2024-2032

Global Refinery Catalyst Market Outlook

The global refinery catalyst market size is expected to grow at a CAGR of 3.20% between 2024 and 2032. Aided by favourable environmental regulations and government policies to reduce carbon emissions.

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Global Refinery Catalyst Market Trends

Refined catalysts are chemical compounds that are utilised in the refining processes of crude materials. During the refining process, the catalyst’s function is to break down heavy oils into valuable and distillable products.

Government Policies for Emission Control

To address the escalating environmental issues, governments of various countries have established stringent emission control regulations. These policies can enhance the market growth of refinery catalysts as they can be used to improve fuel efficiency and reduce emissions.

Growing Petrochemical Industry

The petrochemical industry is growing fast, and various processes conducted in the industry require refining catalysts for efficient fuel with superior activity, and lifetime. This factor has significantly propelled the market demand, which helps the refining catalyst market develop.

Increasing Investment in Research and Development

Players in the refinery catalyst industry are increasing investments to focus on research and development, technologies, and capacity expansion for enhanced catalysts. Companies are improving the properties of their product to ensure their stability and reliability of it.

Increasing Demand for High-Octane Fuel can Provide Growth Opportunities

Due to increasing consumer demand for cost-efficient fuel, the automotive industry has focused on developing and launching efficient engine technologies, which is driving the demand for high-octane fuels. 

Ethanol is the most known high-octane fuel available in the market and with the growing demand for such fuels, the market can be provided with significant growth opportunities.

Fluctuating Crude Oil Prices to Limit the Market Growth

Crude oil prices have been fluctuating and depleting reserves have affected the market development. With strict regulations on crude oil with high sulphur content, the market demand is further restricted.

Additionally, with technological advancements increasing the efficiency and performance of electric vehicles, consumers are showing an increasing shift toward electric vehicles.

Global Refinery Catalyst Market Analysis

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Based on type, the market can be segmented into metallic, zeolites, and chemical compounds. Based on application, it can be bifurcated into FCC, alkylation, hydrocracking, hydrotreating, and catalytic reforming, among others. The regional markets for the market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global refinery catalyst market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans. 

• Honeywell International Inc.

• Clariant AG

• Shell PLC

• BASF SE

• Arkema Group

• Others

Types of Refinery Catalysts in the Market

Based on type, the market divisions include metallic, zeolites, and chemical compounds. Zeolites are microporous, three-dimensional crystalline solids that are commonly used as commercial absorbents and catalysts. They are used in refinery processes as catalysts due to their high-pressure resistance, high-temperature resistance, and high melting point. The growing demand for various crude oils and petroleum-derived products can propel market growth.

Applications of Refinery Catalyst in the Market

Based on application, the market segments include FCC, alkylation, hydrocracking, hydrotreating, and catalytic reforming, among others.

Among these applications, FCC (fluid catalytic cracking) is expected to hold a major share of the market, owing to its utilisation for the conversion of long-chain hydrocarbons into small-chain hydrocarbons, a substance that is much more convenient to use.

The higher rates of gasoline production and by-product for the production of olefins can enhance the market value of FCC.

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Competitive Landscape

Honeywell International Inc. is an American-based multinational conglomerate, focused on inventing and manufacturing technologies. The company offers its services to various sectors including aerospace, building, performance materials and technologies, safety and productivity solutions.

Clariant AG is a Switzerland-based multinational speciality chemicals company, headquartered in Muttenz, Switzerland and it was founded in 1995. The products of the company include additives, catalysts, functional minerals, industrial and consumer specialities, oil and mining services, pigments, biofuels and derivatives.

Shell PLC is a British multinational oil and gas company which was founded in 1907. The company is headquartered in London, United Kingdom with employees in over 70 countries. They specialize in manufacturing chemical-based products such as lubricants, hydraulic fluids, coolants, and greases, among other products.

Other market players include BASF SE and Arkema Group, among others.

Key Highlights of the Report