IMARC Group has recently released a new research study titled “Refinery Catalysts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the refinery catalysts market?
The global refinery catalysts market size reached US$ 5.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.
What is refinery catalysts?
Refinery catalysts play a crucial role in petroleum refining processes by accelerating chemical reactions and facilitating the conversion of crude oil into various valuable refined products. These catalysts are substances that alter the rate of chemical reactions without being consumed in the process. They enhance the efficiency, selectivity, and yield of refining processes while reducing energy consumption and environmental impact.
Refinery catalysts also contribute to reducing the environmental impact of petroleum refining processes. By facilitating reactions that remove impurities from crude oil, they help in producing cleaner and low-sulfur fuels, reducing emissions of pollutants such as sulfur oxides (SOx) and nitrogen oxides (NOx). Some of the common types of refinery catalysts include hydroprocessing, fluid catalytic cracking (FCC), reforming and alkylation.
Market Trends and Drivers:
The global market is majorly driven by the growing demand for energy across multiple industries. Also, the expansion of refinery capacities, particularly in emerging economies, is increasing the demand for refinery catalysts. As new refineries are built or existing ones are upgraded, the need for catalysts to optimize and improve refining processes grows. Moreover, refinery catalysts play a significant role in enhancing fuel quality by increasing octane numbers, improving cetane ratings, and reducing impurities. As fuel quality requirements become more stringent, the demand for catalysts that can efficiently upgrade and enhance the quality of fuels also expands on the global level.
Furthermore, refinery operators are increasingly focusing on improving energy efficiency and reducing energy consumption in refining processes. Catalysts help optimize reaction conditions, enhance selectivity, and improve the conversion of feedstocks into desired products, thereby contributing to the market.
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Who are the key players operating in the industry?
The report covers the major market players including:
- Albemarle Corporation
- BASF SE
- Chevron Corporation
- Clariant AG
- Evonik Industries AG (RAG-Stiftung)
- Exxon Mobil Corporation
- Haldor Topsoe A/S
- Honeywell International Inc
- JGC C & C
- Johnson Matthey
- Royal Dutch Shell Plc
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Fluid Catalytic Cracking (FCC) Catalysts
- Hydro-processing Catalysts
- Hydrotreating Catalysts
- Hydrocracking Catalysts
- Catalytic Reforming Catalysts
Breakup by Material:
- Natural Zeolites
- Synthetic Zeolites
- Rare Earth Metals
- Transition & Base Metals
- Chemical Compounds
- Sulphuric Acid & Hydrofluric Acid
- Calcium Carbonate
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Drivers and Success Factors
- SWOT Analysis
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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