What is the Historic and Current Scenario of the Refinery Catalyst Market?
The refinery catalyst market has seen considerable growth due to a variety of factors.
• In recent times, there has been a consistent growth in the refinery catalyst market size. This growth is expected to increase from $6.15 billion in 2024 to $6.46 billion in 2025 with a compound annual growth rate (CAGR) of 5.0%.
The historic growth increase can be attributed to the demand for petroleum-related products, increase in the demand for transportation fuel, and a surge in oil and gas exports.
What Can Be Expected from the Refinery Catalyst Market in the Coming Years?
The refinery catalyst market is expected to maintain its strong growth trajectory in upcoming years.
• An impressive expansion is projected in the refinery catalyst market in the upcoming years, with its size anticipated to reach $8.18 billion by 2029, marking a compound annual growth rate (CAGR) of 6.1%.
The rising demand for high octane fuel, the growth of the petrochemical industry, and the increasing energy demands are some of the factors propelling this growth. The forecast period will also witness major trends including the introduction of hydro processing catalyst solutions, a shift towards enhancing investment to create innovative product solutions, and meeting the burgeoning demand for refinery catalysts. Companies are emphasizing on advancements in fluid catalytic cracking (FCC) catalysts, strategic acquisitions, and collaborations to boost financial prowess, consolidate product lines, and widen their geographical reach. They're also concentrating on utilizing hydro flex technology in refining to produce renewable diesel and on catalysts, which are pivotal in cutting emissions and forging cleaner energy sources.
Which Factors Are Boosting Growth In The Refinery Catalyst Market?
The ongoing boost in the need for transportation fuel is set to fuel the expansion of the refinery catalysts industry. Energy forms utilized to operate vehicles powered by internal combustion engines are known as transportation fuels. Refinery catalysts are utilized in petroleum refineries to turn crude oil into marketable goods, including transportation fuels, engine fuels, and heating fuels. These catalysts increase chemical reactions that remove heavy metals and harmful organic compounds to produce cleaner end products suitable as transportation fuel. For instance, the Bureau of Transportation Statistics, a government agency in the US, noted in April 2024 that for-hire transportation experienced the most significant growth from 2021 to 2022, escalating from 3.2% to 3.5%. Simultaneously, the growth of household transportation was less significant, increasing by a single percentage point in the same timeframe. The input of in-house transportation was stable at 1.4% between 2021 and 2022. Consequently, the growing demand for transportation fuel is propelling the expansion of the refinery catalysts industry.
How Is the Refinery Catalyst Market segmented?
The refinery catalyst market covered in this report is segmented –
1) By Type: FCC (Fluid Catalytic Cracking) Catalyst, Hydro Treating Catalyst, Hydro Cracking Catalyst, Catalytic Reforming Catalyst, Other Types
2) By Ingredient: Zeolites, Metals, Chemical Compounds
3) By Application: Oil Refineries, Chemical Synthesis, Polymer Manufacturing, Other Applications
Subsegments:
1) By FCC (Fluid Catalytic Cracking) Catalyst: Zeolite-Based FCC Catalysts, Rare Earth-Based FCC Catalysts, Ultra-Stable Y (USY) FCC Catalysts
2) By Hydro Treating Catalyst: Cobalt-Molybdenum (CoMo) Catalysts, Nickel-Molybdenum (NiMo) Catalysts, Noble Metal-Based Hydro Treating Catalysts
3) By Hydro Cracking Catalyst: Amorphous Silica-Alumina Catalysts, Zeolite-Based Hydro Cracking Catalysts, Bimetallic Hydro Cracking Catalysts
4) By Catalytic Reforming Catalyst: Platinum-Based Reforming Catalysts, Rhenium-Based Reforming Catalysts, Bimetallic Reforming Catalysts
5) By Other Types: Alkylation Catalysts, Isomerization Catalysts, Polymerization Catalysts
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What New Trends Are Influencing the Refinery Catalyst Market?
Innovation in products is currently trending in the refinery catalyst market, with major players concentrating their efforts on creating novel products to solidify their market stance. For instance, BASF SE, a chemical manufacturing firm based in Germany, rolled out an innovative product named Fourtitude in March 2022. This Fluid Catalytic Cracking (FCC) catalyst is engineered to optimise butylene production from residue feedstocks. The functioning of Fourtitude is based on employing multiple framework topology (MFT) technologies, which are instrumental in providing superior selectivity towards butylene whilst retaining catalyst activity. This unique feature paves the way for enhanced propylene yields, augmented gasoline octane as well as improved coke selectivity.
Who Are the Key Players in the Refinery Catalyst Market?
Major companies operating in the refinery catalyst market include:
• Exxon Mobil Corporation
• Royal Dutch Shell
• China Petroleum & Chemical Corporation
• BASF SE
• Honeywell International,Chevron Corporation
• W. R. Grace & Co
• Albemarle Corporation
• Arkema
• Clariant International Ltd.
• Sinopec Catalyst Company
• Tokuyama Corporation
• Nippon Ketjen
• S-Oil Catalyst
• Qingdao Eno Chemicals
• Hindustan Platinum
• Dorf Ketal
• AB Enterprises
• Haldor Topsoe
• Johnson Matthey
• Axens
• INEOS
• Clal France
• Zeochem AG
• MOL Group
• Evonik Industries AG
• Metalor
• Umicore
• Heranius
• NIS a.d. Novi Sad
• OMV Group
• Grupa LOTOS S.A
• Rosneft
• Unipetrol Group
• Polimer Sp. z o.o
• PolyComp s.r.o
• RESINEX Czech Republic
• Tecomelt s.r.o
• CRI Catalyst Company
• Unicat Catalyst Technologies
• Grace Catalysts Technologies
• INNOSPEC Limited
• Fortuna Silver Mines Inc
• Mottcorp
What Is The Most Dominant Region In The Refinery Catalyst Market?
Asia-Pacific was the largest region in the refinery catalyst market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refinery catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
