DUBLIN, March 30, 2023 /PRNewswire/ -- The "Refinery Catalyst Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (FCC Catalysts, Hydroprocessing Catalysts, Catalytic Reforming Catalysts, Others), By Material, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
Refinery Catalyst market is anticipated to grow significantly through 2028 due to the increasing demand for high octane number fuel
The combination of strict rules and rising demand for petroleum and petroleum-derived goods and chemicals is projected to drive market expansion. Catalysts for refineries are employed in the petroleum refining sector to increase the operational effectiveness of petroleum.
In addition, the increasing demand for high-octane number fuel globally propels the market's growth. Refinery catalyst can be defined as any dual-functioning chemical substance used in refineries to facilitate the refining process of crude materials and simultaneously regulate the rate of the chemical reaction. They also remove unwanted impurities such as nitrogen, metal contamination, and sulfur.
These catalysts include zeolites, calcium carbonate, molybdenum, palladium, and zirconium, which are used independently or in different combinations to improve the operating effectiveness of petroleum. Increasing energy demand coupled with growing stress on green technologies has resulted in catalysts playing an important role in petroleum refining operations.
Increasing emission control regulations globally are driving the need for efficient and conservative processes with high yield, which has steered catalysts demand in different applications to improve process efficiency, which is anticipated to drive the market's growth.
Increasing Demand for High Octane Number Fuel
An increase in demand from the automobile sector for high-octane number fuel as a result of consumer desire for cheaper fuel is driving the market. The development of efficient engine technology by automakers is driving the demand for higher-octane number fuel. In addition, high-octane fuel may have advantages for the environment, the economy, and engines.
With a blended octane value of 113, ethanol is a high-octane fuel that is both inexpensive and environmentally friendly. Moreover, a significant driver driving this market is the rising use of petroleum derivatives to manufacture several consumer goods.
Global Increase in FCC Catalyst
One of the most significant secondary conversion techniques utilized in refineries is fluid catalytic cracking. Primarily, it makes more gasoline from the gas oils extracted by the atmospheric and vacuum distillation units. Long-chain hydrocarbons are broken down into shorter-chain hydrocarbons by the chemical reaction known as fluid catalytic cracking.
Different products such as butane, propane, distillate, gasoline, and byproduct gases produce olefins, thus creating more economic value. The growing polyolefin consumption to produce different plastics drives the demand for FCC catalysts.
Zeolites Will Continue to Be a Key Material
Zeolites are hydrated aluminosilicate minerals with trapped water molecules. Due to its excellent resilience to high pressure, high temperature, and high melting temperatures, the bulk of manufactured zeolites are employed in the FCC catalysis process for refinery applications.
Zeolites are also used in processes such as olefin dealkylation, Naphtha isomerization, reforming, and hydrocracking. They are employed in producing gasoline, diesel, and products produced from petroleum, and the rising demand for these goods fosters a favorable prognosis for market growth.
Companies Mentioned:
- BASF SE
- Haldor Topsoe A/S
- Honeywell International Inc.
- Clariant AG
- W R Grace & Co.
- Albemarle Corp
- Shell Catalysts & Technologies LP
- Johnson Matthey PLC
- Exxon Mobil Corporation
- Axens SA
Report Scope:
In this report, the global refinery catalyst market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Refinery Catalyst Market, By Type:
- FCC Catalysts
- Hydroprocessing Catalysts
- Catalytic Reforming Catalysts
- Others
Refinery Catalyst Market, By Material:
- Zeolites
- Metallic
- Chemical Compounds
- Others
Refinery Catalyst Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia-Pacific
- China
- India
- South Korea
- Japan
- Indonesia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
For more information about this report visit https://www.researchandmarkets.com/r/bcbtte
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