The Refinery Catalyst Market deals with the development, manufacture and distribution of industrial as well as refinery catalysts. A refinery catalyst can be described as a chemical which has the ability to enhance of various refinery streams and products such as petroleum, middle distillates, etc. The original properties of these products are not modified in any way during the process.
The refinery catalysts produced by the Refinery Catalyst Market have the ability to improve the quality of crude oil which is ready for use. Such an improvement is necessary to meet the stringent quality specifications set by governments across the world. The petroleum refining process can be viewed as prime example when it comes to enhancing operational efficiencies.
Scope & Regional Forecast of the Refinery Catalyst Market
The Refinery Catalyst Market considers a few components as vital for refinery catalyst manufacturers. Catalyst suppliers would have a tough time going about their business without metals, chemical compounds, zeolites, etc. The petroleum refining process as well as the same for other fuel types owe a lot to hydroprocessing catalysts for their superior quality. Currently, hydroprocessing catalysts have the highest rate of growth within the Refinery Catalyst Market. Fluid catalytic cracking is on the other side of the hill as the catalysts involved have already hit their peak during their servitude as industrial catalysts.
The Refinery Catalyst Market has been buoyed by the fact that regions of Asia-Pacific, Middle East and Latin America have steadily increased their use of petroleum products. Catalyst producers are of the opinion that the rise in demand for gasoline has also played a part in the growth of the Refinery Catalyst Market. Another positive sign for catalyst suppliers comes in the form of petroleum usage in the chemicals industry. Refinery catalyst manufacturers have been able to create more complex feedstock varieties despite lowering price of fuel.
The Refinery Catalyst Market has been dominated by demand emanating from North America which is followed by the Asia-Pacific region. China and U.S. are generally viewed by catalyst producers as the two biggest markets. Refinery catalyst companies are continuing to ramp up their investment in research and development as climate change fears have spurred the need for cleaner fuel.
Segmentations & Key Players involved in the Refinery Catalyst Market
According to IndustryARC findings, the Refinery Catalyst Market can be divided into various segmentations on the basis of –
Components: Zeolites, Metals, Chemical Compounds and Others.
Application: Hydroprocessing, Fluid Catalytic Cracking, Alkylation and Others.
Some of the key players involved in the Refinery Catalyst Market according to IndustryARC are as follows:
- Axens Technologies(IFP GROUP)
- Criterion Catalysts & Technologies
- Solvay Chemicals International
- Clariant International Limited
- ExxonMobil Chemical
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