Global FCC Catalyst Market - 2024-2031

Overview

Global FCC Catalysts Market reached US$ 2.7 billion in 2023 and is expected to reach US$ 3.9 billion by 2031, growing with a CAGR of 4.9% during the forecast period 2024-2031.

The market for FCC catalysts is expanding due to the change in global economics toward higher petrochemical output. Refineries are expanding the range of products they provide to include materials for petrochemicals as well as transportation fuels. FCC catalysts are essential to this change because they enable the manufacture of valuable petrochemicals and premium transportation fuels at the same time, satisfying the changing needs of the petrochemical industry.

The market for FCC catalysts is expanding due to the rising demand for refined petroleum products, such as gasoline and diesel, on a global level. The demand for transportation fuels rises in unison with population growth and industrialization. To satisfy the growing demand for cleaner and more efficient fuels, FCC catalysts play a crucial role in the refining process by increasing conversion rates and enhancing the production of high-value products.

North America is among the growing regions in the global FCC catalysts market covering more than 1/3rd of the market. The oil and gas business has a large number of refineries operating in North America, making the continent a key hub. Refinery capacity continues to be increased and improved due in part to the rising demand for transportation fuels like gasoline and diesel. Advanced FCC catalysts are in great demand because they maximize the production of high-value products and improve conversion rates.

Dynamics

Expanding Demand for Processed Petroleum Products

The rising demand for refined petroleum products is one of the main factors propelling the global FCC catalysts market. The use of refined goods and transportation fuels including diesel and gasoline is rising in tandem with the world's population growth and industrialization. FCC catalysts are essential for improving the fluid catalytic cracking units' (FCCUs) performance in refineries, thus rendering it easier to produce petrochemicals and high-value fuels.

For Instance, in 2022, BASF launched Fourtitude, a new Fluid Catalytic Cracking (FCC) catalyst optimized for maximizing butylene production from resid feedstocks. Based on BASF's Multiple Framework Topology (MFT) technology, Fourtitude achieves superior selectivity for butylenes while maintaining catalyst activity. The catalyst combines MFT and metals passivation technologies to offer exceptional butylene selectivity and resistance to metals in resid feedstock applications.

Growing Priority on Downstream Integration in the Petrochemical Industry

The petrochemical industry's increasing focus on downstream integration is a major driver of the rise in demand for FCC catalysts. Many refineries are actively expanding the range of products they produce to include the manufacturing of valuable petrochemicals in addition to the traditional emphasis on fuels. The development is the result of a realization of the profitable potential of broadening product lines and satisfying the expanding demand for petrochemical goods around the globe.

For Instance, in 2020, BASF commercially launched Fourtune, a new Fluid Catalytic Cracking (FCC) catalyst for gasoil feedstock. Utilizing Multiple Framework Topology (MFT) technologies, Fourtune is optimized for superior butylene selectivity over propylene while maintaining catalyst activity. Commercial trials confirm its economic benefits through enhanced butylene selectivity, high conversion rates and the preservation of coke-selective bottoms, leading to increased profitability for refiners with high distillate yields.

Highly Costly Material and Initial Investment

The high initial costs associated with integrating and installing cutting-edge catalyst technologies in refining facilities are an important inhibitor to the growth of the globally FCC catalysts industry. Innovative catalysts like PARAGON often require significant capital expenditures because they include new materials or technology.

The refineries may have financial difficulties while making these investments, particularly during slack profit margins or economic instability. Some refineries, especially those that are smaller or older, may be discouraged by the high initial costs, which would restrict the general adoption of modern FCC catalysts and hinder market expansion.

Strict Environmental Regulations

Strict environmental laws are still a significant obstacle to the global market for FCC catalysts. Refinery operations become more complex and expensive due to the need to comply with ever-tighter environmental rules and emissions requirements, even though catalysts are essential for improving conversion rates and creating cleaner fuels.

Realizing these objectives often requires ongoing technical advancements and modifications to refining procedures, which affects the selection and use of FCC catalysts. It can be difficult for the industry to maintain the constant innovation essential to meet changing regulations and sustainability objectives, particularly for smaller refineries that might need help to keep up with the quick changes in compliance requirements. The would limit the market's ability to grow overall for FCC catalysts.

Segment Analysis

The global FCC catalysts market is segmented based on type, ingredients, configuration, application and region.

Rising Demand for Zeolites in Refining Industry

The zeolites segment is among the growing regions in the global FCC catalysts market covering more than 1/3rd of the market. Zeolites are crystalline, microporous aluminosilicate minerals that are well-known for their massive surfaces and catalytic powers. The increasing demand for FCC catalysts, especially in the refining sector where they are widely used to boost the productivity of hydrocarbon cracking processes, is driving the growth of the zeolites demand.

Its distinct structure facilitates efficient catalysis and the generation of high-value products like diesel and gasoline, which promotes the expansion and efficiency of the refining industry as an entire sector. Zeolites are additionally preferred as they can increase the yield and selectivity of important products in FCC units. Zeolite-based FCC catalysts are now required in refineries as they aim to produce cleaner fuel at greater conversion rates.

Geographical Penetration

Growing FCC Catalysts Demand in Oil and Gas Industry in North America

North America has been a dominant force in the global FCC catalysts market is being driven by the growing oil and gas sector in North America has led to growth in the FCC (Fluid Catalytic Cracking) catalyst market. There are a few refineries in North America, especially in US and Canada, which are essential to the processing of crude oil. There's a rising need for sophisticated FCC catalysts as these refineries attempt to improve yields and streamline their operations.

Additionally, the North American market is growing as a result of continuous research and development initiatives as well as advances in technology. New catalyst architecture and formulation advances have produced more effective and adaptable FCC catalysts. North American refineries are eager to use these state-of-the-art catalyst technologies to maintain a competitive edge, boost productivity and satisfy evolving customer demands.

For Instance, in 2023, W. R. Grace & Co.'s launched PARAGON FCC catalyst had a Vanadium (V) trap for fluid catalytic cracking units that were based on rare earth elements. The innovation extends the FCC operating window, which provides processing flexibility for increased profitability from a range of feedstocks. In particular, PARAGON increases conversion at a constant Coke yield and upgrades bottoms to the maximum, contributing to the more sustainable production of fuel.

For Instance, in 2023, Siemens Energy, Inc. acquired its Fluid Catalyst Cracking Unit (FCCU) Hot Gas Expander product line to Rotating Machinery Services, Inc. Through this transaction, the FCCU Expander product line's inventory, intellectual property and related tooling are now part of RMS. Clients can expect top-notch assistance from RMS's portfolio of three US-based ISO9001:2015 certified service centers, which is further enhanced by a globally network of regional partners.

COVID-19 Impact Analysis

The COVID-19 pandemic has affected many aspects of the business and had a significant impact on the globally FCC (Fluid Catalytic Cracking) catalyst market. Disruptions in the global supply chain have a major impact. Labor shortages, travel bans and lockdowns have made it hard to produce and move the raw materials needed to make FCC catalysts. Due to supply chain issues, there were delays, higher expenses and variations in the availability of FCC catalysts.

From the beginning of 2020, the majority of reputable research firms have been predicting the refining products market, initially due to the effects of IMO 2020 and then COVID-19. The market climate has changed, making it more appealing for refineries to increase LCO output in addition to gasoline and LPG quantities. The goal of introducing the atrium was to boost transportation fuel yields and raise overall operational profitability.

The FCC catalyst is made to specifically satisfy the needs of the unit in terms of metal tolerance, surface area, rare earth on zeolite, matrix type and pore architecture to maximize the refinery's profitability. Initially improves heavy molecule (bottoms) cracking and to enable the diffusion of heavy feed molecules, the pore design needs to be optimized. Furthermore, to prioritize conversion or distillate yield, the relative zeolite and matrix content needs to be optimized.

The refining industry, which is a major user of FCC catalysts, has been directly impacted by the drop-in global economic activity and the decreased demand for oil and refined products during quarantines. Refineries encountered lower production levels due to a decline in tourism and industrial activity, which affected the need for catalysts.

Russia-Ukraine War Impact Analysis

The current conflict between Russia and Ukraine has created a great deal of geopolitical uncertainty that might affect the globally market for FCC (Fluid Catalytic Cracking). As an important actor in the global energy market, Russia can potentially be negatively impacted by any regional interruptions brought on by the conflict, which could have an impact on the supply chain for vital raw materials required to produce FCC catalysts.

Delays in the supply chain raise prices and cause shortages, which would affect FCC catalyst production and availability globally. Additionally, the conflict has increased energy market volatility, which has an effect on refining margins and decision-making in the oil refining sector. Energy price fluctuations may lead refineries to reevaluate their investment and production plans, which could change the market for FCC catalysts.

In addition, investor confidence may be impacted by geopolitical tension-related ambiguity, which might cause delays in strategic planning and investment choices in the FCC catalyst industry. The economic ramifications of the conflict in Europe may have an impact on the dynamics of the FCC catalyst market at the regional level. Changes to trade agreements, governmental laws and economic stability in regions affected might lead to changes in the refining procedures and catalyst demand trends

By Type

• Gasoline Sulfur Reduction
• Maximum Light Olefins
• Maximum Middle Distillates
• Maximum Bottoms Conversion
• Others

By Ingredients

• Zeolites
  • Natural Zeolites
  • Synthetic Zeolites
• Metals
  • Precious Metals
  • Rare Earth Metals
  • Transition & Base Metals
  • Molybdenum (Mo)
  • Tungsten (W)
  • Cobalt (Co)
  • Nickel (Ni)
  • Iron (Fe)
  • Zirconium (Zr)
  • Others
• Chemical Compound
  • Sodium oxide
  • Aluminum oxide
  • Silicon Dioxide
  • Others
• Others

By Configuration

• Side-by-Side
• Stacked

By Application

• Vacuum Gas Oil (VGO) feeds
• Gas Oil feedstock
• Resid Feed
  • Heavy Resid feed
  • Moderate Resid feed
  • Light Resid feed
  • Others
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On October 31, 2022, SGP BioEnergy planned to construct two significant renewable fuel plants in South America, one each in Panama at Colon and Balboa. Sustainable aviation fuel (SAF) and renewable diesel (RD) are anticipated to be produced by these facilities, respectively. By incorporating green hydrogen from the refining process, SGP BioEnergy has selected Topsoe technology to enable the generation of low-carbon fuels and enable the plant to run with net-zero emissions.

Competitive Landscape

The major global players in the market include BASF SE, WR Grace & Co-Conn, China Petroleum & Chemical Corporation, Albemarle Corporation, JGC Catalysts & Chemicals Co., Ltd., Haldor Topsoe A/S, Rezel Catalysts Corporation, Clariant International Ltd., Anten Chemical Co., Ltd. and SINOCATA.

Why Purchase the Report?

• To visualize the global FCC catalysts market segmentation based on type, ingredients, configuration, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of FCC catalysts market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available in Excel consisting of key products of all the major players.

The global FCC catalysts market report would provide approximately 70 tables, 65 figures and 186 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies