Refinery Catalyst Market Size & Growth Analysis to 2030

The global refinery catalyst market size is anticipated to register a sustainable CAGR of around 3% during the forecast period from 2021 to 2027. The growing demand for transportation fuel and the increasing demand for petroleum derivatives are some major factors driving the market growth. Furthermore, the growing demand for high octane fuel and the increasing investment in refineries is further anticipated to boost the market over the forecast period. Moreover, the stringent regulations regarding vehicle emission is expected to spur the market growth. However, the fluctuation in metal prices is one of the noticeable factors inhibiting the market growth.

Market Drivers:

Increasing Energy Demand: The global demand for energy, particularly petroleum-based products, continues to rise. According to the International Energy Agency (IEA), global energy demand is projected to increase by more than 25% by 2040. This increasing energy demand drives the need for refining crude oil into various products, including gasoline, diesel, and jet fuel, which in turn boosts the demand for refinery catalysts.

Stringent Environmental Regulations: Governments worldwide are implementing stricter environmental regulations to reduce emissions and improve air quality. Refinery catalysts play a vital role in enabling refineries to comply with these regulations by facilitating more efficient and cleaner refining processes. For example, catalysts can help in the removal of sulfur compounds from gasoline and diesel, reducing sulfur dioxide emissions that contribute to air pollution.

Increasing Refinery Capacity and Upgrades: Refineries are undergoing capacity expansions and upgrades to meet the growing energy demand and comply with evolving fuel specifications. According to research analysis, global refining capacity is projected to increase by approximately 13.7 million barrels per day by 2024. These capacity expansions and upgrades require the use of refinery catalysts to optimize the refining processes and increase production efficiency.

Growing Demand for Clean Fuels: There is a growing consumer demand for cleaner fuels with lower sulfur content and reduced emissions. This demand is driven by increasing environmental consciousness and regulations. Refinery catalysts, such as hydroprocessing catalysts, enable the production of cleaner fuels by removing sulfur, nitrogen, and other impurities from crude oil and petroleum products.

Advancements in Catalyst Technology: Ongoing research and development efforts have led to advancements in catalyst technology, improving the efficiency and performance of refinery processes. For example, the development of zeolite-based catalysts has enhanced the conversion of heavy crude oil into lighter products, increasing yields and reducing energy consumption. These technological advancements drive the adoption of refinery catalysts in the industry.

Focus on Process Optimization and Cost Efficiency: Refineries are continuously seeking ways to optimize their processes and improve cost efficiency. Catalysts play a crucial role in achieving these objectives by enhancing conversion rates, reducing energy consumption, and minimizing the formation of unwanted by-products. The utilization of refinery catalysts enables refineries to operate more efficiently and economically.

Emerging Economies and Industrialization: Rapid industrialization and urbanization in emerging economies, particularly in Asia-Pacific and the Middle East, are driving the demand for refined petroleum products. These regions are experiencing a surge in demand for transportation fuels and petrochemicals, necessitating increased refining capacity. The growth in these markets contributes to the demand for refinery catalysts.

Market Outlook:

Market Insights:

The global refinery catalyst market is bifurcated into type, ingredient, and geography. On the basis of type, the market is further segmented into alkylation catalysts, FCC catalysts, hydrotreating catalysts, and others. The alkylation catalyst segment dominated the global market in 2020 and estimated to hold the largest market share of around half of the market. The increasing demand for gasoline fuel in automotive is a primary factor to drive the segment growth across the globe.

On the basis of ingredients, the market is segmented into zeolites, chemical compounds, metals, and others. The zeolites segment dominated the global refinery catalyst market in 2020 and estimated to hold the largest revenue share of around one-third percent of the market. Due to their porosity and large surface area, the products are widely used as absorbents and catalysts. Furthermore, the wide use of zeolites in other processes such as hydrocracking, cracking, reforming, naphtha isomerization, and olefin dealkylation, which is further, anticipated to boost the segment growth over the forecast period.

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The refinery catalyst comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The refinery catalyst market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Type:

• Alkylation Catalysts
• FCC Catalysts
• Hydrotreating Catalysts
• Hydrocracking Catalysts
• Catalytic Reforming
• Others

By Ingredient:

• Zeolites
• Chemical Compounds
• Metals
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, the Asia Pacific dominated the global refinery catalyst market in 2020 and accounted to hold the largest market share of around one-third percent of the market. the increasing investment and growing number of private organizations is a major factor to drive the market growth in the region. The Indian regulatory is expected to boost the polymers and petrochemicals production in India due to its updated policy for promoting FDI investment in the oil and gas industry, which is further anticipated to boost the market in the Asia Pacific.

Competition Assessment:

Some of the major market players operating in the global refinery catalyst market are Albemarle Corporation, W. R. Grace & Co.-Conn., BASF SE, Johnson Matthey, and Clariant International Ltd. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Albemarle Corporation
• R. Grace & Co.-Conn.
• BASF SE
• Johnson Matthey
• Clariant International Ltd.
• Chevron Corporation
• Arkema
• Evonik Industries AG
• DuPont
• Exxon Mobil Corporation

Key Questions Answered by Refinery Catalyst Market Report

• Global refinery catalyst market forecasts from 2021-2027
• Regional refinery catalyst market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Refinery catalyst submarket forecasts from 2021-2027 covering the market by type, by ingredient, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to refinery catalyst market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level refinery catalyst markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the refinery catalyst market