The global refinery catalyst market is expected to reach USD 6.18 billion
by 2022, according to a new report by Grand View Research, Inc. Growing need
for environmental friendly/high performance fuels is expected to remain a key
driving factor for global refinery catalyst market. Stringent EPA and REACH
environmental regulations to curb sulfur and NOx emissions caused due to
growing refinery is also expected to have a positive impact on the market
growth. Increasing refinery complexity along with growing requirement to
optimize tight oil and sour crude processing has led to the usage of specialty
catalysts with improved efficiency.
Zeolites were the most preferred catalyst material with demand share
exceeding 30% of total market volume in 2014. Zeolites are expected to witness
significant growth on account of high requirement in various refinery processes
including catalytic reforming, hydrotreating, and FCC. High porosity and
adjustable acidity are key properties on account of which zeolites are used as
catalysts in refining and petrochemical production. Chemical compounds are
anticipated to witness the highest growth of 3.5% from 2015 to 2022. Low price
of chemical compounds as compared to zeolites, metals, and enzymes are expected
to have a positive impact on market growth.
In depth research report
on Refinery Catalyst Market
Further key findings from
the report suggest:
•
Global refinery catalyst market demand was 1,300.8 kilo tons in 2014 and
is expected to grow at a CAGR of 3.3% from 2015 to 2022.
•
Fluid catalytic cracking (FCC) refinery catalyst demand stood at 617.9
kilo tons in 2014. Growing demand for high-performance transportation fuels
including gasoline and diesel are anticipated to drive this segment over the
forecast period.
•
Hydrotreating is anticipated to witness highest the growth of 4.7% in
terms of market value over the forecast period. High requirement to upgrade the
middle distillates to high-grade finished kerosene, heating fuel oils and
diesel along with pre-treatment of mixed distillates obtained from various
process streams prior to catalytic cracking is attributed to high growth.
•
Asia Pacific was the leading regional market and accounted for over 30%
of global demand in 2014. Increasing refining capacity particularly in China,
India, Indonesia, Vietnam and Malaysia are expected to drive the regional
growth. China and India were reported as the second and fifth largest countries
in global capacity refining market in 2013. Asia Pacific is also expected to
witness the highest growth over the forecast period.
•
European Commission’s inclination towards reducing GHG emissions coupled
with regulatory bills intended for promoting biofuel industry is expected to
increase demand for enzyme catalyst in Europe.
•
Key industry participants include W.R. Grace & Co-Conn, Zeolyst
International Inc., UOP LLC, Evonik Industries, DuPont, INEOS Group Limited,
and Johnson Matthey PLC.
Grand View Research has segmented the refinery catalyst market on the
basis of material, application and region:
Refinery Catalyst
Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
•
Zeolites
•
Metallic
•
Chemical Compounds
•
Others
Refinery Catalyst
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
•
Fluid Catalytic Cracking (FCC)
•
Alkylation
•
Hydrotreating
•
Hydrocracking
•
Catalytic Reforming
•
Others
Refinery Catalyst
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
•
North America
•
Europe
•
Asia Pacific
•
Rest of the World (RoW)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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