What is Global Catalysts in Petroleum Refining Market?
The Global Catalysts in Petroleum Refining Market is a significant aspect of the petroleum industry that plays a crucial role in enhancing the efficiency of petroleum refining processes. These catalysts are substances that speed up chemical reactions during the refining of crude oil into end products such as gasoline, diesel, jet fuel, and others. They are used to break down complex hydrocarbons into simpler ones, thereby improving the quality of the end products. The catalysts used in petroleum refining are typically composed of metals such as nickel, platinum, or palladium, which are known for their high catalytic activity. The global market for these catalysts is driven by the increasing demand for cleaner and more efficient fuels, stringent environmental regulations, and advancements in catalyst technology.
Metal, Molecular Sieve in the Global Catalysts in Petroleum Refining Market:
The Global Catalysts in Petroleum Refining Market is segmented into different types based on the materials used, such as metal and molecular sieve. Metal catalysts, which are the largest segment in the market, are primarily used in processes such as hydrocracking and hydrotreating. These catalysts are known for their ability to remove impurities such as sulfur and nitrogen from petroleum products. On the other hand, molecular sieve catalysts are used in processes such as fluid catalytic cracking and alkylation. These catalysts have a unique structure that allows them to selectively absorb certain molecules, thereby improving the efficiency of the refining process. The choice of catalyst depends on the specific requirements of the refining process and the desired end product.
Fluid Catalytic Cracking (FCC), Hydrotreating, Alkylation, Reorganize, Others in the Global Catalysts in Petroleum Refining Market:
The Global Catalysts in Petroleum Refining Market finds its application in various areas of the petroleum refining process. These include Fluid Catalytic Cracking (FCC), Hydrotreating, Alkylation, and Reorganize among others. In FCC, the catalysts are used to crack large hydrocarbon molecules into smaller ones, thereby increasing the yield of high-value products such as gasoline. In Hydrotreating, the catalysts are used to remove impurities such as sulfur and nitrogen from the petroleum products. In Alkylation, the catalysts are used to combine smaller hydrocarbon molecules into larger ones, thereby increasing the octane number of the gasoline. In Reorganize, the catalysts are used to rearrange the structure of hydrocarbon molecules to improve the quality of the end product. The choice of catalyst depends on the specific requirements of the refining process and the desired end product.
Global Catalysts in Petroleum Refining Market Outlook:
The Global Catalysts in Petroleum Refining Market has shown significant growth over the years. In 2023, the market was valued at US$ 4405.3 million and is expected to reach US$ 5705.9 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 3.4% during the forecast period from 2024 to 2030. The market is dominated by the top 3 companies which hold a share of about 52%. The largest market for these catalysts is Asia-Pacific, accounting for about 40% of the global market. In terms of product type, metal catalysts are the largest segment, holding a share of about 54% of the global market.
| Report Metric | Details |
| Report Name | Catalysts in Petroleum Refining Market |
| Accounted market size in 2023 | US$ 4405.3 million |
| Forecasted market size in 2030 | US$ 5705.9 million |
| CAGR | 3.4% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | W.R. Grace, BASF, Albemarle, Criterion, Haldor Topsoe, Honeywell UOP, Axens, JGC Catalysts and Chemicals, Johnson Matthey, Kuwait Catalyst, China Petroleum & Chemical Corporation, China National Petroleum Corporation, Qingdao Huicheng Environmental Technology Co., Ltd., Sciensun, Rezel Catalysts Corp. |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
