Global Refinery Catalysts Market: China Sustaining Asia Pacific as Most Lucrative Region, TMR

According to a recent study by Transparency Market Research (TMR), the global market for refinery catalysts is well organized and consolidated among four players who collectively owned more than three-fourth of the shares in 2015. These four vendors are Royal Dutch Shell Plc., Chevron Corporation, Sinopec Corporation, and ExxonMobil Corporation. With an impressive product portfolio and distribution channels across various regions worldwide, these four companies are significantly ahead of the curve in the global refinery catalysts market. The TMR report expects this dominance to continue in the near future as these leaders continue to research and develop new products with their financial might and continue to add on their consumer base.

As per the TMR estimations, the global refinery catalysts market was worth US$11.5 bn and projects it to reach a valuation of US$17.1 bn by 2024, increasing at a CAGR of 3.93% during the forecast period of 2016 to 2024. The slugging growth rate is a reflection of volatile crude oil prices, which severely affects the production and revenue of the vendors operating in refinery catalysts market. The report anticipates this pattern to continue in the near future, and lead to limited development opportunities for new entrants.

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Zeolites Remains Profitable Segment

Based on material, the report segments the global refinery catalysts market into cobalt, molybdenum, zeolites, nickel, and others such as platinum. Out of these, zeolites refinery catalysts accounted for 65.5% of the market in 2015, in terms of volume. This substantial demand for zeolites is owing to its expanding appetite for high octane gasoline across the world. Zeolites are primarily used for the fluid catalytic cracking process, and offer benefits such as high temperature resistance, high selectivity, and cost-effectiveness.

Geographically, this report on the global refinery catalysts market evaluates the potential of several regions including North America, the Middle East and Africa, Europe, Latin America, and Asia Pacific. Currently, China not only the leading producer but also the most prominent consumer of refinery catalysts, single-handedly making Asia Pacific the most lucrative region for the players in the global market for the same. The prosperity of the petrochemicals and refining sectors in India and China will favor the expansion of the refinery catalysts market in Asia Pacific. The report also expects the regions of the Middle East and Asia Pacific to increment the demand for molybdenum refinery catalysts during the forecast period.

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Escalating Pollution Concerns Driving Demand

Growing demand for refined petroleum products, increase in refinery construction across Asia Pacific and the Middle East, and upgrading of existing low NCI refineries are some of the key factors favoring the global refinery catalysts market. In the recent past, regulations pertaining to carbon emission from vehicles, particularly in the developed regions in Europe and North America have proved a boon for this market. With refinery catalysts, quantity of sulfur and other impurities can be controlled. On the other hand, factors such as overcapacity in refineries in developed countries, competition from renewable fuels, and unstable regulatory environment are challenging the market from attaining its full potential. Decline in the consumption of refinery catalysts in Europe, which was a lucrative region for the players in this market, is expected to show quite apparently during the forecast period.

According to the lead analyst of the report, “Low crude oil price will have mixed influence over the refining industry, while the market will open new opportunities on the back of stricter regulations related to fuel specifications, leading to the requirement of secondary processing units and refining catalysts.”

Oil and Gas Pipeline Leak Detection Equipment Market Driven by Stringent Government Regulations

Although renewable resources of energy have gained substantial popularity in the recent past, there is no foreseeable limitation to the escalating demand for oil and gas, with the growing population and rapid urbanization. Consequently, the demand in the global market for oil and gas pipeline leak detection equipment is projected for a robust CAGR of 6.8% during the forecast period of 2016 to 2024, according to a recent report by Transparency Market Research (TMR). As per the estimations of the TMR report, the global oil and gas pipeline leak detection equipment market will be worth US$3.65 bn by the end of 2024, significantly up from its evaluated valuation of US$2.02 bn in 2015. Some of the key factors augmenting the demand in the oil and gas pipeline leak detection equipment market are: development and expansion of existing pipelines and construction of new pipelines, increasing incidents of oil and gas leakages in pipeline and storage tanks at production facilities, and

Welding Products Market Growth in Wind Power Sector to Create Opportunities, TMR

The global welding products market is moderately fragmented with the key players such as Lincoln Electric, ESAB, and ITW leading in the market. These three players accounted for a collective share of 30% in 2013, states a new report by Transparency Market Research (TMR). This market is capital intensive and thus, local vendors find it difficult to compete with the larger players. Local players are unable to compete with large players on the basis of quality, services, functionalities, and features. Thus, these small players are entering into the market by introducing products that are low in price. Some of the players operating in the welding products market are: Voestalpine AG, Sonics & Materials Inc., Fronius International GmbH, Rofin-Sinar Technologies Inc., Arcon Welding, Bohler, Panasonic, Daihen Corp, and OBARA Co. In order to increase their production capacities and focus on innovations, companies are adopting the strategy of merging or acquiring other players. Acco

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

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