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The global refining catalyst market is expected to grow exponentially attributable to numerous strategies adopted by market competitors such as mergers and acquisitions, company collaborations, High investments in research and development, and others. Fortune Business Insights in their report titled, “Refinery Catalyst Market Size, Share and Global Trend By type (FCC Catalyst, Catalytic Reforming Catalyst, Alkylation Catalyst, Others), By Material (Metals, Zeolites, Chemical Compounds, Others) and Geography Forecast till 2026,” predicts such initiatives to help the market gain traction in the forthcoming years.

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/refinery-catalyst-market-101090

Some of the refining catalyst market companies include:

  • Yueyang Sciensun Chemical Co., Ltd.
  • Porocel Corporation
  • P. Filtra Catalysts and Chemicals Ltd
  • Clariant International Ltd.
  • KNT Group
  • Johnson Matthey Plc
  • Haldor Topsoe A/S
  • R. Grace and Co.
  • Qingdao Huicheng Environmental Technology Co., Ltd
  • NIPPON KETJEN Co., Ltd
  • Criterion Catalysts and Technologies
  • JGC Catalysts and Chemicals Ltd.
  • Honeywell UOP
  • BASF SE
  • Axens SA
  • Albemarle Corporation

The report offers a comprehensive overview of the refinery catalyst market. It primarily focuses on crucial aspects such as growth drivers and restraints. Significant players are listed in the report, coupled with the major strategies trending in the market so that players can accordingly invest in order to attract more revenue in the forecast duration. The report is available for sale on the Fortune Business Insights website.

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Hydrotreating Catalysts Segment to Earn Huge Share

According to current refinery catalyst market trends, there are three main categories of the market namely type, material, and geography. In terms of type, the market is classified into alkylation catalyst, catalytic reforming catalyst, hydrocracking catalyst, hydrotreating catalyst, FCC catalyst, and others. Among these, the hydrotreating catalysts segment is likely to dominate the market since it has the capability to remove nitrogen, aromatics, sulfur, olefins, and other types of contaminants from refined oil fractions and midway process streams.

Based on material, the market is segmented into chemical compounds, zeolites, metals, and others. Among these, the metals segment is anticipated to generate the highest revenue in the coming years on account of the surge in the use of metals for hydrotreating and hydrocracking. This helps to detach the emission of harmful gases to the atmosphere and unwanted particles to the environment. Governments are imposing stringent regulations in reducing air pollution by controlling the level of diesel ultra-low sulfur content and Gasoline Sulphur. This will ultimately promote the demand for metals in the refinery catalyst market.

Key Industry Developments

  • In Jul 2018, Honeywell UOPs fresh R364 Platforming catalyst has been used by Fuji Oil to increase the output of aromatics for chemical production at its Japanese plant.
  • In Jun 2019, W. R. Grace and Co. completed the acquisition of the business and assets of Rive Technology, Inc., including its Molecular Highway zeolite technology. As part of the transaction, certain research and development, technical services, and commercial employees will join Grace.
  • In Aug 2018, BASF introduced its fresh Luminate FCC catalyst. The Luminate FCC catalyst is based on the latest and enhanced Zeolite Y (IZY) technology from BASF and provides greater liquid returns.

Surge in Demand for Gasoline and Diesel to Boost Market

An important factor boosting the refinery catalyst market positively is the rise in demand for petroleum derivatives. This, coupled with the surge in consumption of energy is also expected to boost the market growth in the forecast duration 2019 to 2026. Moreover, strict regulations on environment pollution and safety and the surge in the number of aviation and automotive industry are further anticipated to help the market gain traction. Additionally, the accelerating demand for diesel and gasoline has also promoted the demand for the raw materials required to produce them. This is further expected to attract more refinery catalyst manufacturers, thus boosting the market.

However, the diminishing crude oil reserves and high cost of production may cause rough waters for refining catalysts suppliers and this may hamper the market growth in the coming years. Furthermore, the limitations imposed on crude oil reserves also have a negative impact on refinery catalyst supplies and this may also cause hindrance to the market in the long run.

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High Consumption Rate of Crude Oil in Europe to Help Market Attract High Revenue

From a geographical viewpoint, the market is categorized into the regions of North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. There is a significant demand for crude oil and fuel by-products in the U.S. which is further propelling the growth of the regional market. On the other side, the market in Europe is seen as one of the major crude oil tanker markets, attributable to the fact that it has the highest consumption rate from the transportation sector. On another account, the market in Asia Pacific is expected to witness significant growth on account of rising in demand for transportation fuel, especially from the developing nations such as China and India. Besides that, countries such as Venezuela, Brazil are collectively dominating the market in Latin America. Furthermore, countries in the Middle East such as Saudi Arabia, UAE, Iraq, and Kuwait are considered high performing nations for trade activities, oiling, and refining purposes, backed by financial resources.

Key Market Driver Increasing energy consumption

Key Market Restraint Diminishing crude oil reserves

Segmentation

1. By Type

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

2. By Material

  • Metals
  • Zeolites
  • Chemical Compounds
  • Others

3. By Geography

  • North America (the USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East and Africa (South Africa, GCC, and Rest of the Middle East and Africa)

Have any Query? Speak to Analyst at: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/refinery-catalyst-market-101090

Major Table of Content ForRefinery CatalystMarket:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global Refinery Catalyst Market Analysis, Insights and Forecast, 2026
  6. North America Refinery Catalyst Market Analysis, Insights and Forecast, 2026
  7. Europe Refinery Catalyst Market Analysis, Insights and Forecast, 2026
  8. Asia Pacific Refinery Catalyst Market Analysis, Insights and Forecast, 2026
  9. The Middle East and Africa Refinery Catalyst Market Analysis, Insights and Forecast, 2026
  10. Latin America Refinery Catalyst Market Analysis, Insights and Forecast, 2026
  11. Competitive Landscape
  12. Company Profile
  13. Conclusion

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Refinery Catalyst Market Demand, Indepth Analysis And Estimated Forecast Till 2026 | Fortune Business Insights