Refining Catalysts Market

Refining Catalysts Market Overview:
Refining Catalysts Market is estimated to exhibit a CAGR of over 4% during the forecast 2018–2023.
Refining Catalyst enhances the rate of chemical reactions and are considered a critical part of a process in terms of cost and time efficiency. Refinery catalyst are used in refineries for the process of converting petroleum refining products from crude to high octanes liquid products such as diesel, kerosene, gasoline, and others. These catalysts are used in various processes such as hydrotreating, hydrocracking, and catalyst reforming among others.

Refining Catalysts Market is increasing with the impulsive pace, owing to the growing oil & gas industry. According to a recent study report published by the Market Research Future, the global market of refining catalysts is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2018 – 2023).

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Refining Catalysts Market Key Players:
Refining Catalyst Market are: Haldor Topsoe A/S (Denmark), BASF SE (Germany), Axens (France), Clariant International Ltd (Switzerland), Royal Dutch Shell plc (the Netherlands), Exxon Mobil Corporation (U.S.), Honeywell International Inc (U.S.), China Petroleum & Chemical Corporation (China), Kuwait Catalyst Company (Kuwait), and Criterion Catalysts & Technologies L.P. (U.S.) among others.

Refining Catalysts Market Segmental Analysis:
Refining Catalyst is segmented into a type, ingredients, and region. On the basis of the type, the market is segregated into Fluid Catalytic Cracking (FCC) Catalysts, hydro processing catalysts, catalytic reforming catalysts, and others. On the basis of the ingredients, the market is segregated into zeolites, metals, chemical compounds and others.

Industry/ Innovation/ Related News:
January 2017 – Haldor Topsoe A/S (Denmark), is the major manufacturer of Refining Catalysts, has announced that company joins research program which is estimated to be USD 4 million investment to improve selective catalytic reduction catalysts by incorporating nanomaterial. By incorporating titanium dioxide nanoparticles, the company aims to improve cleaning off-gases in petro refineries and remove nitrogen oxides (NOx) are major compounds which are causing air pollution. Increasing air pollution awareness and stricter regulation petro refineries has to stay in compliance with environmental regulations and maximize their production by using these catalysts.

November 2017 – BASF SE (Germany), one of the key manufacturers of Refining Catalysts also having presence in New Jersey, announced that BASF researcher received R&D award BroCat Catalyst which is the first boron-based technology catalyst for fluid catalytic cracking. They also patented this technology and received Thomas Alva Edison Patent Award. Metal catalysts often produce undesired reactions that decrease the refinery process efficiency. BroCat has resolved this problem with an outstanding solution to increase the selectivity of the reaction.

Refining Catalysts Market Opportunities:
Refining Catalysts Market is expected to grow at a reasonably gradual pace. With increase in the level of fuel consumption, the market is expected to develop and expand favourably. Due to the presence of strict regulations from environment protection agencies and government bodies, there has been a surge in the demand for refining catalysts.

Refining Catalysts Market such as zeolites, noble and non-noble metals, and chemical compounds are costlier, but they are capable to deliver high performance for long run purposes. These high value-added products widely used in the processes such as fluid catalytic cracking, hydro treating, hydrocracking and catalytic cracking. Fluid catalytic cracking is the most important petro refinery process. Due to which zeolites are getting demand owing to increasing refinery capacities across the globe in the forecast period.

Refining Catalyst Market are important compounds in the processing of highly valued petrochemicals, gasoline, diesel and other fuels. Catalysis is the important petro refinery process as most of the refinery processes are catalytic. Petroleum fractions produced via fractional distillation are not the desired fractions which can directly be used as end products. In the presence of highly selective and yielding refining catalysts, cracking of crude oil at high temperatures is feasible. Due to the stricter regulations and government policies many refineries are looking for high functioning catalysts to treat the petroleum crude oil and remove the undesired compounds which are environmentally unacceptable.

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Refining Catalysts Market Regional Analysis:
Refining Catalyst Market is segmented into five regions: Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa.

Asia Pacific is the largest market and is expected to grow at an expanding CAGR during the assessment period. The presence of the most populated economies has augmented the demand for energy in the region, which is a significant factor driving the demand for refining catalyst in the region. Moreover, the rapid development of polymer manufacturing and refining companies in the region is affecting the market growth positively. Furthermore, the presence of the largest refinery in the region is also projected to drive the demand for refinery catalysts.

The Middle East is expected to grow at a steady CAGR owing to the growing oil and gas exploration activities.
The North American region is another dominant market for refinery catalyst. The recent shale gas boom in the region has boosted the demand for refinery catalyst mainly in the U.S. Moreover, the stringent regulations pertaining to the use of crude emission is significantly the revenue of the refinery catalyst market.

Refining Catalysts Market Competitive Analysis:
Refining Catalysts Market appears to be competitive with the presence of several large and small players operating in the Refining Catalysts Market. These Key players compete based upon pricing, quality, Technology and reputation. Refining Catalysts market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.

Manufacturers operating in the Refining Catalysts Market strive to respond to the growing demand for BASF SE have introduced new boron-based technology refining catalysts to curb the sulphur emissions and increase the selectivity & yield of the desired products in various petrochemical refining processes. This gives a challenge to other refining catalysts manufacturers to sustain in the changing regulations and government policies world owing to the increasing environmental concerns.

Refining Catalysts Market Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Refining Catalyst Market
5 Industry Overview of Global Refining Catalyst Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
Refining Catalysts Market Table of Content to be Continue……..,

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