Global Refinery Catalyst Market Share, Size, Trends, Industry Analysis Report, By Product (Chemical Compounds, Zeolites, Metallic, Others); By Application; By Product; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 119
- Format: PDF
- Report ID: PM3230
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global refinery catalyst market was valued at USD 8.83 billion in 2023 and is expected to grow at a CAGR of 5.60% during the forecast period. Global Refinery catalysts are essential components used in the production of fuels and chemicals from crude oil. The primary function of these catalysts is to speed up the chemical reactions that occur during the refining process. Catalysts play a critical role in optimizing refinery processes, enhancing product quality, and reducing the environmental impact of refining operations. The use of refinery catalysts has become a common practice in the refining industry, and continuous innovations in this field have led to the development of new and improved catalysts.
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One such new technology that has been developed in recent years is the use of nanotechnology in refinery catalysts. Nanotechnology refers to the manipulation and control of matter on a nanoscale, which is approximately one billionth of a meter. This technology has opened up new possibilities in the design and development of catalysts, allowing for the creation of highly efficient and selective catalysts with improved properties.
One example of a nanotechnology-based catalyst is zeolite. Zeolites are a type of porous, crystalline material that has a wide range of industrial applications. They are commonly used in catalysis, adsorption, and separation processes in the refining industry. The use of nanoscale zeolites has been shown to enhance the activity, selectivity, and stability of catalysts, leading to improved efficiency in refinery processes.
Another application of nanotechnology in refinery catalysts is the development of bimetallic catalysts. Bimetallic catalysts are composed of two different metals that work together to enhance the performance of the catalyst. The use of nanotechnology in the synthesis of bimetallic catalysts has led to the creation of highly active and selective catalysts with improved properties such as increased surface area and better control of the reaction environment.
Industry Dynamics
Growth Drivers
Refinery catalysts have numerous industrial applications and are essential components of the refining process. The global market for refinery catalysts is expected to grow significantly in the coming years due to various growth drivers.
One of the primary growth drivers for the refinery catalyst market is the increasing demand for fuels and chemicals. As the global population continues to grow, so does the demand for energy and chemical products. Refinery catalysts are used in the production of fuels and chemicals, making them a critical component in meeting this growing demand.
Another growth driver is the need for cleaner and more efficient refining processes. The use of catalysts in refining can improve the efficiency of the process, leading to reduced energy consumption and lower emissions. Additionally, stricter environmental regulations are driving the adoption of cleaner technologies, such as the use of catalysts in refining operations.
Advancements in catalyst technology are also driving market growth. Continuous innovations in catalyst design and development have led to the creation of new and improved catalysts with enhanced properties such as higher activity, selectivity, and stability. These advanced catalysts can help refineries to optimize their processes, reduce costs, and improve product quality.
The growing trend towards biofuels and renewable energy is also driving the demand for refinery catalysts. The production of biofuels requires the use of catalysts to convert raw materials into usable fuels. Catalysts are also used in the production of renewable chemicals and materials, making them an essential component of the growing renewable energy industry.
Report Segmentation
The market is primarily segmented based on Product, Application, and region.
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By Product |
By Application |
By Region |
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The Zeolites segment is expected to witness the fastest growth during forecast period
The Zeolites segment of the refinery catalyst market is expected to experience the fastest growth in the coming years. Zeolites are microporous materials that have a unique crystalline structure, which makes them ideal for use in catalysts. The growth in demand for zeolites can be attributed to their excellent catalytic properties, such as high activity, selectivity, and stability.
Refinery catalysts are widely used in the petroleum refining industry to improve the efficiency of refining processes and to produce higher quality fuels. The use of refinery catalysts has become increasingly important as the demand for cleaner and more efficient fuels continues to grow. Refinery catalysts are used in various refining processes, such as hydrocracking, hydrotreating, fluid catalytic cracking, and alkylation.
The zeolites segment of the refinery catalyst market is expected to witness significant growth due to the increasing demand for high-quality fuels and stricter regulations on emissions. The use of zeolites in refinery catalysts can help reduce the emissions of pollutants such as sulfur and nitrogen oxides, which are harmful to the environment and human health.
Furthermore, zeolites are more cost-effective compared to other catalysts, such as precious metals, which also makes them an attractive option for refineries. The growing demand for zeolites in the refining industry is also due to their ability to improve the yield of high-quality fuels while reducing the production of unwanted by-products.
The FCC Catalysts segment accounted for the largest market share in 2022
The FCC Catalysts segment accounted for the largest market share in 2022. FCC (Fluid Catalytic Cracking) catalysts are widely used in the petroleum refining industry for the production of gasoline and other fuels. The growth in demand for FCC catalysts can be attributed to their ability to improve the efficiency of the refining process and to produce higher quality fuels.
The use of FCC catalysts in the petroleum refining industry has become increasingly important as the demand for cleaner and more efficient fuels continues to grow. FCC catalysts are used in the fluid catalytic cracking process, which is a crucial step in the production of gasoline from crude oil. This process helps to break down larger hydrocarbons into smaller ones that are more suitable for use in gasoline.
The demand for FCC catalysts is also driven by the increasing demand for gasoline and other fuels in developing countries such as China and India. These countries are experiencing rapid economic growth and urbanization, which has led to an increase in the demand for transportation fuels. FCC catalysts help refineries meet this demand by producing higher yields of gasoline and other fuels.
Furthermore, FCC catalysts are constantly being improved and developed to meet the changing demands of the petroleum refining industry. For example, there is a growing demand for low-sulfur fuels, which has led to the development of FCC catalysts that can produce fuels with lower sulfur content.
The demand in North America is expected to witness significant growth during forecast period
The demand for refinery catalysts in North America is expected to witness significant growth in the coming years. The growth in demand can be attributed to the increasing demand for cleaner and more efficient fuels, as well as the expansion of the petroleum refining industry in the region.
North America is one of the largest consumers of petroleum products, and the demand for high-quality fuels is expected to continue to grow in the region. Refinery catalysts play a crucial role in producing cleaner fuels by removing impurities and improving the efficiency of refining processes. The increasing demand for cleaner fuels is expected to drive the growth of the refinery catalyst market in North America.
Furthermore, the petroleum refining industry in North America is expanding, with several new refineries being constructed and existing refineries undergoing upgrades and modernization. This is expected to further drive the demand for refinery catalysts in the region.
Moreover, the North American region has been witnessing stricter environmental regulations aimed at reducing emissions from the petroleum refining industry. Refinery catalysts can help reduce the emissions of pollutants such as sulfur and nitrogen oxides, which are harmful to the environment and human health. The increasing regulatory pressure on the industry to reduce emissions is expected to further drive the demand for refinery catalysts in the region.
Competitive Insight
Some of the major players operating in the global market include Chevron Corporation; Exxon Mobil Corporation; Evonik Industries AG; DuPont; Haldor Topsoe A/S; Albemarle Corporation; BASF SE; Johnson Matthey Plc; W. R. Grace; Clariant International Ltd.; Arkema; Zeolyst International.
Recent Developments
- In Mar 2019, Gladieux Metals Recycling, LLC (GMR) and ART Hydroprocessing (ART), a Chevron and Grace joint venture, have signed a Memorandum of Understanding (MoU) to investigate a full-cycle catalyst management solution for hydroprocessing catalysts in North America.
- In July 2020, BASF introduced Altrium Fluidized Catalytic Cracking (FCC) catalyst to increase transportation fuel yields.
- In Sept 2020, BASF announced a series of new product innovations in its selective hydrogenation catalysts portfolio palladium alumina catalysts and PTA catalyst CBA-250.
Global Refinery Catalyst Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 9.41 billion |
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Revenue forecast in 2032 |
USD 14.55 billion |
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CAGR |
5.6% from 2024 - 2032 |
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Base year |
2022 |
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Historical data |
2019 - 2022 |
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Forecast period |
2024 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Product, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Chevron Corporation; Exxon Mobil Corporation; Evonik Industries AG; DuPont; Haldor Topsoe A/S; Albemarle Corporation; BASF SE; Johnson Matthey Plc; W. R. Grace; Clariant International Ltd.; Arkema; Zeolyst International |
FAQ's
The Global refinery catalyst market size is expected to reach USD 14.55 billion by 2032
Key players in the refinery catalyst market are Chevron Corporation; Exxon Mobil Corporation; Evonik Industries AG; DuPont; Haldor Topsoe A/S; Albemarle Corporation; BASF SE; Johnson Matthey Plc.
North America contribute notably towards the global refinery catalyst market.
The global refinery catalyst market expected to grow at a CAGR of 5.70% during the forecast period.
The refinery catalyst market report covering key segments are product, application, and region.
