Refinery Catalyst Market Size in 2030 Will be US$15 Bn | Fairfield Market Research Provides Growth Analysis in a New Report

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Prominent players in the refinery catalyst market, including W. R. Grace & Co.-Conn, Albemarle Corporation, BASF SE, Chevron Corporation, Exxon Mobil Corporation, Honeywell International Inc., Haldor Topsoe A/S, Johnson Matthey, Royal Dutch Shell plc, and China Petrochemical Corporation.

London, June 26, 2023 (GLOBE NEWSWIRE) — The refinery catalyst global market report of Fairfield Market Research predicts a moderate growth outlook for the market during the years of forecast, 2023 – 2030. The global refinery catalyst market gains majorly from the steadily rising demand for clean fuels that has been pushing the refinery capacity up. The petroleum refinery capacities are constantly increasing, and substantial expansion is expected in the years to come.

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Tightening regulatory screws around gasoline, and diesel are also likely to bode well for the market expansion in future. Sustained preference for sweet fuel productions will further contribute toward the growth of market, says the June 2023 report of the company.

The global market for refinery catalyst equaled the revenue of US$10.2 Bn in 2022 and is projected to reach the valuation of US$15 Bn by the end of 2030. The overall market value is expected to demonstrate around 4.8% expansion during the years of forecast,” states the company analyst.

Insights into Segmentation Analysis

By the type of catalyst, the key market segments may include zeolites, cobalt, nickel, molybdenum, and others. Among these, the nickel category led the refinery catalyst market in 2022 with nearly 28.4% share of the total market value pie. The segment expects a notable CAGR throughout the forecast period.

On the other hand, given a rapid increase in potential application, the molybdenum segment of the market will rise at the highest pace through 2030. The report marks the fact that around 17% of the overall molybdenum production goes into refineries.

While zeolites also represent an attractive market segment, it will display a stable growth trail in the upcoming years.

Among the market segments by the type of refinery, including fluid catalytic cracking (FCC), hydrocracking, H-oil unit, catalytic reforming, alkylation, and hydrotreating, the FCC unit category is expected to maintain dominance in the global refinery catalyst market.

The segment held around 44.3% value share in 2022 and will maintain a dominating share attributing to growing demand for production of high-octane gasoline worldwide. The report forecasts over 5% growth for this market segment during 2023 – 2030.

Key Research Insights

  • In 2021, The worldwide oil refining capacity was 101.9 million barrels, daily, in 2021, 35% of which is accounted by Asia Pacific
  • The global refinery catalyst market size will hit the US$15 Bn mark by 2030-end, witnessing a stable CAGR of 4.8%
  • FCC unit will be the dominating market segment
  • Consumption of zeolites grows significant
  • Asia Pacific leads the pack with 33% share of the total market value

Key Report Highlights

  • The refining industry was hit hard by the COVID-19 pandemic and faced refining loss of nearly 6 billion barrels a day in 2020 due to demand plunge.
  • Rising costs, and disruptions along supply chain amid the pandemic situation held measurable influence on the demand-supply dynamics of refinery catalysts.
  • The supply/procurement contracts of catalysts have taken a shift from global suppliers to local/regional suppliers post-pandemic, intending prevention of the potential delays in delivery due to supply-chain bottlenecks.

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Insights into Regional Analysis

Asia Pacific holds a dominating share in the world oil refinery industry. Of approximately 730 oil refineries that are operating worldwide, more than 315 are based across Asia Pacific.

Asia Pacific led with 1/3rd share of the global market valuation in 2022 and will remain amongst the most significant consumer regions in the refinery catalyst market in the foreseeable future. The report attributes the lead of this region to the soaring demand for fuels that are modified with lowered impurity levels.

Following the regulatory restrictions on diesel is expected to especially elevate the demand for hydrocracking and distillate hydrotreating catalysts in key Asian markets like China, and India.

The region has an upper hand when it comes to automobile sales, which creates a favourable business environment for refinery catalysts. Strengthening demand cleaner diesel variants will also contribute largely toward the growth of the refinery catalyst market across the region.

North America will also stand as a significant market for refinery catalysts uptake. The market here will reap substantial benefits from the consistently expanding production of shale gas in the region”, remarks the company analyst.

The European market has a different scenario altogether. With the greater inclination toward biofuels, and renewables, the market here will advance gradually.

Key Companies in Global Refinery Catalyst Space

Exxon Mobil Corporation, W. R. Grace & Co.-Conn, BASF SE, Chevron Corporation, China Petrochemical Corporation, Albemarle Corporation, Honeywell International Inc., Johnson Matthey, Haldor Topsoe A/S, Royal Dutch Shell plc.

REPORT SCOPE

Report Attributes Details
Base Year 2022  
Forecast Year 2023 – 2030
Market Size in 2022 US$10.2 Bn
Estimated Market Size in 2030 US$15 Bn
CAGR 4.8%  
Key Players Exxon Mobil Corporation, W. R. Grace & Co.-Conn, BASF SE, Chevron Corporation, China Petrochemical Corporation, Honeywell International Inc.,

Global Refinery Catalyst Market is Segmented as Below:

By Refinery Unit Type Coverage             

  • Fluid Catalytic Cracking
  • Hydrocracking
  • H-oil Unit
  • Catalytic Reforming
  • Alkylation
  • Hydrotreating
    • Naphtha
    • Distillate

By Catalyst Type Coverage        

  • Zeolites
  • Molybdenum
  • Cobalt
  • Nickel
  • Others

By Geographical Coverage        

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

Leading Companies

  • Albemarle Corporation
  • Haldor Topsoe A/S
  • Chevron Lummus Global
  • R. Grace & Co.-Conn
  • BASF
  • Johnson Matthey Plc.
  • Axen
  • Honeywell International Inc.
  • Advanced Refining Technologies LLC (ART)
  • Sinopec Corporation
  • Royal Dutch Shell plc

Inside This Report You Will Find:

1. Executive Summary
2. Market Overview
3. Price Trends Analysis
4. Global Refinery Catalyst Market Outlook, 2019 – 2030
5. North America Refinery Catalyst Market Outlook, 2019 – 2030
6. Europe Refinery Catalyst Market Outlook, 2019 – 2030
7. Asia Pacific Refinery Catalyst Market Outlook, 2019 – 2030
8. Rest of the World (RoW) Refinery Catalyst Market Outlook, 2019 – 2030
9. Competitive Landscape
10. Appendix

For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/refinery-catalyst-market

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