APAC is the fastest-growing refinery catalyst market

APAC is the fastest-growing refinery catalyst market

“Browse 84 market data Tables and 41 Figures spread through 179 Pages and in-depth TOC on “Refinery Catalysts Market””
Refinery Catalysts Market by Type (FCC Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, and Catalytic Reforming Catalysts), Ingredient (Zeolites, Metal, and Chemical Compounds), Region

The global refinery catalysts market size is expected to grow from USD 4.0 billion in 2020 to USD 4.7 billion by 2025, at a CAGR of 2.9% during the forecast period. The major factors driving the market are the growing number of stringent regulations for vehicle emissions across the world and rising consumption of petroleum derivatives.

APAC is the largest consumer and manufacturer of refinery catalysts globally. According to the BP Statistical Review of World Energy 2019, APAC’s total oil production was 7,633 thousand barrels per day (BPD) in 2018, with a global market share of 8.1%. APAC’s political and economic conditions have driven the market penetration of refinery catalysts.

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Between 2019 and 2020, the refinery catalyst market has observed a slow growth rate due to COVID-19 and the consequent complete lockdown across the world. This has led to a decrease in the demand for fuels globally, leading to reduced production in oil refineries. Therefore, in 2020, the refinery catalysts market is expected to witness a dip.

The refinery catalysts market comprises major players such as Albemarle Corporation (US), W R Grace (US), BASF (Germany), Haldor Topsoe (Denmark), Honeywell UOP (US), Clariant (Switzerland), Axens (France), Johnson Matthey (UK), China Petroleum and Chemical Corporation (Sinopec) (China), and Shell Catalyst & Technologies (Netherlands), Arkema (France), Anten Chemicals (China), Chempack (China), Dorf-Ketal Chemicals Pvt. Ltd. (India), Exxon Mobil Corporation (US), Gazprom (Russia), JGC Catalyst and Chemicals (Japan),KNT Group (Russia), Kuwait Catalyst (Kuwait), N.E.Chemcat (Japan), Porocel (US), Qingdao Huicheng Environmental Technology (China), Taiyo Koko Co. Ltd. (Japan), Unicat Catalyst Technologies (US), and Yueyang Sciensun Chemicals (China).

Albemarble Corporation is the largest player operating in the refinery catalysts market. The company has 31 manufacturing facilities, and 45 sales offices across the globe. The company offers a wide range of refining catalysts to various customers, such as Total S.A. (France), Chevron Corporation (US), INEOS Group Holding S.A. (UK) and Saudi Aramco (Saudi Arabia). The company has adopted new product launch and joint venture strategies to broaden its product portfolio and maintain its position in the market.

In November 2018, Albemarle launched XPLORE, a new platform for the clean transportation fuel market. This catalyst will help in hydroprocessing catalyst technology for refineries to produce clean transportation.
W.R.Grace is one of the largest producers of refinery catalysts in the world. The company offers refining, polyolefin, and other chemical catalysts through its Grace Catalyst Technologies business segment and has customers in 70 countries with operations in 30 countries The company has 15 manufacturing facilities in various regions, such as North America, Middle East & Africa, and APAC. In recent years, W.R.Grace has adopted joint venture business strategy to strengthen its position in the market, to maintain its leading position in the refinery catalysts market.

In March 2019, W.R.Grace formed a joint venture with Gladieux Metals Recycling (US) to explore a full cycle catalyst management service for hydroprocessing process in North America. The joint venture between the two companies will help in expanding the use of recycled metals recovered from hydroprocessing catalysts.

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