Skip to main content

Global Refinery Catalysts Market: China Continues to be Most Lucrative Country, says TMR

The global refinery catalysts market represents a highly organized and consolidated structure formed by four companies, who held more than 75% shares of the market in 2015. These four companies are Royal Dutch Shell Plc., Sinopec Corporation, Chevron Corporation, and ExxonMobil Corporation. Besides dominating with an impressive product portfolio and extensive geographical presence, these companies constantly focus on research and development of new products to negate the emergence of new players. 

Volatility of crude oil prices continues in the global market, which has significantly affected the production and revenue of several refinery catalysts, and the pattern is expected to persist for a few years to come until the oil prices settle at a profitable margin. This factor is reflecting negatively over the growth rate of the global refinery catalysts market, which is projected for a CAGR of 4.6% during the forecast period of 2016 to 2024. This report by Transparency Market Research (TMR) evaluates that global refinery catalysts market had an opportunity worth US$11.5 bn in 2015, and estimates it to reach a valuation of US$17.0 bn by the end of 2024.
Zeolites Remains Most In-demand Material
On the basis of material, the report categorizes the global refinery catalysts market into zeolites, cobalt, molybdenum, nickel, and others including platinum. Out of these, the segment of zeolites had the maximum demand in 2015, accounting for 65% of the global market in 2015. This high demand for zeolites is a reflection of growing usage of fluid catalytic cracking process in refineries, which is essential to meet the escalating demand for high octane gasoline globally. Adjustable acidity and high porosity are some of the properties of zeolites that encourage its use as catalysts in refining and petrochemical production. The report detects that round about 95% of the total zeolites manufactured across the world are used across fluid catalytic cracking operations. The segment of molybdenum catalysts is also expected to flourish during the forecast period, gaining extended demand from the Middle East and Asia Pacific. 
Geographically, the report studies the opportunities available in the regions of North America including the U.S. and Canada, Europe including Germany, France, and the U.K, Asia Pacific including China and India, the Middle East and Africa, and Latin America. Among these, Asia Pacific, and China in particular, are the most profitable regional and country-wide markets for refinery catalysts. The report observes that China served 70% of the demand for zeolite in the global market in 2015. 
Stringent Eco-Friendly Regulations Driving Demand
Stringent regulations by several governments pertaining to environmental friendly performance is the most prominent driver of the global refinery catalysts market. The Environmental Protection Agency (EPA) and the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) are strictly curtailing sulfur and NOx emissions from refinery, and thereby are augmenting the demand for refinery catalysts. The requirement to optimize tight oil and sour crude processing as well as complexity of refineries are other factors favoring the growth rate. Moreover, rapidly increasing number of passenger vehicles is escalating the demand for low-sulfur fuels. In India, which resides vast population, government has decided to set new emission regulation norms, the Bharat Stage VI, which will significantly increase the demand for refinery catalysts form this country-wide market. The inclination of European Commission towards decreasing the GHG emissions, along with regulatory bills to promote biofuel industry are anticipated to propel the demand for enzyme catalysts in the Europe refinery catalysts market. 

Key Segments of the Global Refinery Catalysts Market
Refinery Catalysts Market – Refining Unit Analysis
  • Fluid Catalytic Cracking
  • Hydrocracking
  • H-Oil
  • Hydrotreating
  • Catalytic Reforming
  • Alkylation
Refinery Catalysts Market – Material Analysis
  • Zeolites
  • Molybdenum
  • Cobalt
  • Nickel
  • Others (including platinum, etc.) 
Refinery Catalysts Market – Physical Form Analysis
  • Powders
  • Beads
  • Extrudates

The information presented in this review is based on a Transparency Market Research report, titled, “Refinery Catalysts Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.” 
Labels:
Location: Albany, NY 12207, USA

Comments

Post a Comment

Popular posts from this blog

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a
Post a Comment
Read more

Industrial Lubricants Market: Strong Demand Across Automotive Industry, Trends To 2025

Lubricants refer to the organic or inorganic material primarily being use to decrease friction between two surfaces in contact. Lubricants play a key role in several industries as well as in commercial and residential sectors. One of their most common uses is in the lubrication of bearings and gears, allowing for their easy movement at high speeds, without loss in energy, prevent excessive generation of heat, or most importantly, prevent damage that would be caused otherwise. Industrial lubricants are, therefore, essential in enhancing the overall efficiency of a machine that contains moving parts in contact with one another. The global industrial lubricants market is currently expanding at a solid growth rate, driven by several factors and spearheaded by the likes of BP, Total, Chevron Corporation, ExxonMobil, and Shell. Browse Market Research Report @  http://www.transparencymarketresearch.com/industrial-lubricants-market.html What Impact has the Oil and Gas Industry Had
Post a Comment
Read more

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @   http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi
Post a Comment
Read more