Refinery Catalyst Market Forecasts to 2030 - Global Analysis By Type (Hydrocracking, Hydrotreating, Reforming, Isomerization & Alkylation and Fluidised Catalytic Cracking (FCC)), Ingredient (Metals, Zeolites and Chemical Compounds) and By Geography

According to Stratistics MRC, the Global Refinery Catalyst Market is accounted for $4.61 billion in 2023 and is expected to reach $6.45 billion by 2030 growing at a CAGR of 4.9% during the forecast period. Refinery catalysts are chemical ingredients used during the refining process to remove unwanted impurities such as nitrogen, metal contamination, and sulfur. These catalysts, which increase the operational efficiency of petroleum, include zeolites, calcium carbonate, molybdenum, palladium, and zirconium. They can be employed individually or in various combinations. Catalysts are employed in the refining process to transform heavy oil into useful, distillable products. To help refineries work better, they may be recycled and utilized with a variety of feedstocks.

According to the International Energy Agency, global refinery intake was expected to grow by 16 mb/d in 2020 due to shutdowns all over the globe, creating fluctuations in price

Market Dynamics:

Driver:

• Rising investments in research & development.

• The world's top manufacturers are concentrating on implementing new technologies, proprietary designs, and equipment upgrades for these catalysts while increasing profits. To guarantee stability and dependability, businesses are enhancing the catalytic qualities of the items. They will be able to generate high-quality gasoline for less money as a result of this. The market is expanding as a result of the rising need for the refinery to create petroleum products and derivatives including plastics, petroleum wax, naphthalene, paraffin wax, and refined asphalt. Thus, prospects for refinery catalysts are created by the industry's increasing investment in R&D, technology, and capacity growth.

Restraint:

• Strict regulations.

• The crude oil's high emission rate is caused by its sulfur concentration. Due to the rise in emissions, strict regulations with regard to low sulfur emission criteria have been put into place. The emission of air pollutants is one of the main issues with petroleum refineries. Numerous pollutants, including sulfur dioxide (SO2), nitrogen oxides (NOx), and particulate matter (PM), are created during the refining process. Additionally, the FCC process breaks apart heavy petroleum fractions like gas oil and waste to produce lighter fractions. Thus, these worries are impeding market expansion.

Opportunity:

• Growing demand for high octane fuel.

• The consumer desire for cheaper fuel is raising the popularity of high octane fuel in the automobile sector. The introduction of efficient engine technology by the auto industry is increasing the consumption for higher octane fuels. High octane fuel also has potential advantages for the environment, the economy, and engines. With a blended octane value of 114, ethanol is a high-octane fuel that is both inexpensive and environmentally friendly. Moreover, the primary factor propelling this market is the rising use of petroleum derivatives in the manufacture of several consumer goods.

Threat:

• Continuous variations in crude oil prices.

• The transition to different methods of crude oil production is a result of fluctuating pricing and dwindling reserves. Demand will decline as the extraction technique becomes less efficient. It is challenging to remove sulfur content from crude oil since the extraction techniques frequently result in crude oil with a high sulfur concentration and a sour taste. This strengthened the rivals' capacity to provide alternatives like biofuels.

COVID-19 Impact:

• The COVID-19 epidemic weakened the market because fewer people had access to goods made from refined oil. On the other hand, market expansion is hampered by the volatility in precious metal prices. But in 2021, the sector started to revive. The market is primarily being driven by rising refinery investment and accelerated demand for higher octane fuel in the short term. Additionally, the future may present an opportunity due to the nations with the highest consumption rates, including China and India, redirecting their attention toward nanocatalysts.

• The fluidised catalytic cracking (FCC) segment is expected to be the largest during the forecast period

• The fluidised catalytic cracking (FCC) segment is estimated to have a lucrative growth. While producing lighter products from crude oil, refineries rely heavily on the fluid catalytic cracking process. In order to produce lighter and more valuable products like diesel oil, jet fuel, LPG, kerosene, and gasoline, the FCC unit converts a number of feed types, including cracked gas oil, gas oil, deasphalted gas oil, vacuum/atmospheric resins, and others. Additionally, the Indian Oil Corporation (IOC) plans to invest billions of rupees in oil refinery expansion through its extension initiatives. The aforementioned considerations indicate that FCC catalysts will play a significant role in boosting the market demand for refining catalysts throughout the forecast period.

• The zeolites segment is expected to have the highest CAGR during the forecast period

• The zeolites segment is anticipated to witness the fastest CAGR growth during the forecast period. Zeolites are hydrated aluminosilicate minerals with trapped water molecules. Due to their high melting points, tolerance to high temperatures and pressures, and resistance to high pressures, the bulk of manufactured zeolites are employed in the FCC catalysis process for refinery applications. Zeolites are commonly used as catalysts in oil refining, which contributes significantly to its astounding efficiency. They are used to make items like gasoline, diesel, and those made from petroleum and the growing demand for these products is driving an affirmative outlook for market growth.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to growing population, economic development, high crude oil production, and refineries present. Over 14% of the world's refining capacity is represented by China's refinery capacity. Indian Oil Corporation, one of the leading oil refiners, is also located in India. For the purpose of encouraging FDI investments in the oil and gas sector, the Indian government has authorized the Petroleum, Chemicals, and Petrochemicals Investment Region (PCPIR) policy. As a result of increased energy demand in developing nations like China and India, major market competitors are focusing on increasing capacity.

Region with highest CAGR:

Middle East & Africa is projected to have the highest CAGR over the forecast period. Middle East and Africa is the main region for the production of crude oil and petroleum. The top oil producer, Saudi Arabia produced over 90 million tons of oil a year in 2018. Total and Saudi Aramco, a firm that produces oil, decided to extend their joint venture SATORP in Saudi Arabia. Increased shale gas production and tight oil supply are projected to improve raw material supplies to refineries in Saudi Arabia and UAE, leading to a positive influence on the catalyst industry. As a result, the market's need for refinery catalysts will rise in the years to come.

Key players in the market:

Some of the key players profiled in the Refinery Catalyst Market include: Albemarle Corporation, Haldor Topsoe A/S, BASF SE, W.R. Grace & Co, Axens SA, Honeywell International, Sinopec, Clariant International Ltd., Criterion Catalysts & Technologies L.P., Exxon Mobil Corporation, Porocel, Qingdao Huicheng Environmental Technology, Taiyo koko Limited, Unicat Catalyst Technologies and Yueyang Sciensun Chemical.

Key Developments:

• In April 2023, Clariant announced the grand opening of its new CATOFIN catalyst production site in Jiaxing, Zhejiang Province, China. Investing in innovations such as CATOFIN is a core element of Clariant's new purpose-led strategy, as expressed in the statement 'Greater chemistry - between people and planet.'

• In March 2023, Albemarle Corporation, a leader in the global specialty chemicals industry, announced the official brand launch of Ketjen Corporation, its wholly owned subsidiary that crafts tailored, advanced catalyst solutions for the petrochemical, refining and specialty chemicals industries.

• In March 2022, BASF launched today Fourtitude™, a new Fluid Catalytic Cracking (FCC) catalyst designed to maximize butylenes from reside feedstocks. Fourtitude is optimized to deliver superior selectivity to butylenes while maintaining catalyst activity.

Types Covered:

• Hydrocracking
• Hydrotreating
• Reforming
• Isomerization & Alkylation
• Fluidised Catalytic Cracking (FCC)

Ingredients Covered:

• Metals
• Zeolites
• Chemical Compounds

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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