Visiongain has published a new report entitled the Oil Refinery Catalyst Market Report 2022-2032. It includes profiles of Oil Refinery Catalyst and Forecasts Market Segment by Market Segment by Investment, ( CAPEX, OPEX), Market Segment by Type, (Fluid Catalytic Cracking Catalysts, Reforming Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, Isomerization Catalysts, Alkylation Catalysts) Market Segment by Ingredient, (Zeolites, Metals, Chemical Compounds, Other Ingredients) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global oil refinery catalyst market was valued at US$7175 million in 2021 and is projected to grow at a CAGR of 4.58% during the forecast period 2022-2032.
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High Oil Prices Inspire Oil-Rich Countries' Governments to Pursue More Assertive Foreign Policies
The attack follows a trend in which Russia has attacked neighboring states against a backdrop of high oil prices: Afghanistan (1979), Georgia (2008), and the annexation of Crimea (early 2014). However, it is also a pattern that applies more broadly to other petrostates, or countries where net oil exports account for 10% or more of GDP: High oil prices inspire oil-rich countries' governments to pursue more assertive foreign policies and engage in more offensive military activities. Petrostates spend more on military defence, which may appear (or actually be) offensive and disruptive to surrounding countries. High oil prices also have a psychological impact on policymakers, particularly when it comes to subjective risk-reward calculations.
Maintaining High Equipment Reliability
Units functioning and available for service is a crucial consideration for increasing a refinery's profitability and improving operational safety. Certain, difficult-to-detect pollutants, on the other hand, might cause mechanical concerns like corrosion and fouling, as well as cause problems in wastewater treatment systems. Equipment fouling, corrosion, contamination, and maintaining equipment in top working condition are all excellent approaches to decrease these hazards and maintain system reliability. These procedures ensure optimum operating efficiency and production rates. The separate components, as well as the refinery system as a whole, should be cohesive for maximum efficiency.
How has COVID-19 had a significant negative impact on the Oil Refinery Catalyst Market?
For oil, gas, and chemical businesses, the impact of COVID-19 and the oil price war is proving to be a two-pronged problem. Oil prices are falling as a result of failed production-cut agreements, and demand for chemicals and refined goods is slowing as a result of industrial slowdowns -and travel restrictions in the aftermath of the global pandemic. The oil and gas industry is in the midst of its third price crash in the last 12 years. The industry recovered after the first two shocks, and business as usual resumed. This time, however, things are different.
The current situation includes a supply shock, a historically low demand, and a global humanitarian crisis. Furthermore, the financial and structural health of the sector is worse than in prior crises. Poor returns have been attributed to the introduction of shale, excess supply, and liberal financial markets that overlooked the lack of capital discipline. With prices nearing 30-year lows and societal pressure increasing, leaders recognise that change is unavoidable. The COVID-19 crisis hastens what was already shaping up to be one of the most pivotal periods in the industry's history.
The combined impact of Coronavirus (COVID-19) and the oil price shock is wreaking havoc on oil-exporting poor countries at a time when the fossil fuel industry is on the decline. Although some countries may be able to weather the current crisis to sovereign wealth funds or low public debt, this will not be the case for the majority of oil-exporting countries, many of which are resource-dependent and were already dealing with high debt levels and multifaceted economic and social fragility prior to the current crisis. Since a result of the current upheaval, some countries may find themselves in a spiral of unsustainable borrowing, as oil-exporting developing countries have become more reliant on short-term and expensive non-concessional private debt.
How this Report Will Benefit you?
Visiongain’s 542+ page report provides 288 tables and 300 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global oil refinery catalyst market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Oil Refinery Catalyst. Get the financial analysis of the overall market and different segments including type, investment, ingredient and capture higher market share. We believe that high opportunity remains in this fast-growing oil refinery catalyst market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximize the productivity of the company.
What are the current market drivers?
Catalytic Cracking Is Advantages Over Thermal Cracking Processes
Due to the presence of iso-paraffin constituents and aromatic compounds, the naphtha has a higher octane number than coker naphtha, and the naphtha has more chemical stability than mono-olefins and diolefins, which are found in considerably greater quantities in coker (thermally cracked) naphtha. Catalytic cracking also produces large amounts of olefin gases ideal for polymer gasoline production, as well as smaller amounts of methane, ethane, and ethylene that can be used to make petrochemicals.
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Petroleum Refining Catalysts Play A Key Role
Catalysts for petroleum refining play an important role because most of the operations after the crude unit are catalytic. Most crude unit fractions are further processed since most straight-run fuels produced from fractional distillation do not match the quality standards for low-sulfur and higher-octane fuels. Selective catalysts and zeolites catalyse the breaking of heavy hydrocarbons to produce gasoline with anti-knocking properties. Alkylation of light olefins with isobutane in the presence of hydrogen and metallic catalysts produces gasoline with low aromatic content (benzene/naphthalenes).
Where are the market opportunities?
Catalyst Used In Petroleum Refining
The catalysts employed in catalytic cracking are mostly zeolites, which are comparable to those found in petroleum refineries. To extract oxygen from bio-oils, zeolites such as ZSM-5, Y, silica-alumina, SAPO, MCM-41, SBA-15, and others were used. For the production of sustainable liquid fuels and chemicals, biomass is seen as a viable alternative to fossil fuels. In recent years, biomass rapid pyrolysis combined with bio-oil catalytic upgrading for liquid biofuel generation has gotten a lot of interest. Catalysts are essential in this process. Despite several efforts, catalyst selectivity and deactivation remain difficult to achieve. Various catalysts have had a lot of success and have improved petroleum refining processes significantly.
Catalysts Are Used In The Oil Industry To Increase Octane Rating In Gasoline
Platinum catalyst-based reforming techniques have grown increasingly important in petroleum refining. They considerably raise the octane rating of naphthas and are more cost-effective than any other refining technique for producing high-octane gasoline. Platinum is now a critical component in the manufacture of high-octane gasoline for automobiles and piston-engine aircraft. Furthermore, catalytically reforming petroleum naphthas yields benzene, toluene, and xylenes, which account for a significant share of the world's benzene, toluene, and xylene production. These chemicals are in high demand as intermediates in the production of a wide range of other chemical products, including plastics, synthetic fibers, explosives, rubber, pesticides, and so on.
Competitive Landscape
The major players operating in the oil refinery catalyst market are Albemarle Corporation, W R Grace, BASF, Haldor Topsoe, Honeywell UOP, Clariant, Axens Group, Johnson Matthey Plc, China Petroleum & Chemical Corporation, Shell Catalysts & Technology, Arkema SA, Exxon Mobil Corporation, Gazprom PAO, JGC Catalyst and Chemicals, KNT Group, Taiyo Koko Co., LTD, Yueyang Sciensun Chemical Co., Ltd., These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
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