Farmington, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The Global FCC Catalysts Market Is Worth USD 2.7 Billion In 2022 And Is Expected To Grow At A CAGR Of 3.5% From 2022 To 2030. An FCC catalyst is a material that speeds up a chemical reaction by decreasing its activation energy. Catalysts for FCC reactions are composed of zeolitic minerals along with different binders and promoters. The FCC has a significant impact on the petroleum industry. Because the reactor converts heavy petroleum distillates to lighter hydrocarbon products. It is extensively employed for the scission of high molecular weight hydrocarbon chains in refinery processes, a necessary step for optimizing the gasoline production ratio.
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The market is categorized by product into gasoline sulfur reduction, maximum bottoms conversion, maximum light olefins, maximum middle distillates, and other products. The market is categorized by application into residual oil, vacuum gas oil, and others. FCC is a type of secondary unit operation that enables the creation of additional gasoline during petroleum refining. This chemical process converts heavy distillates into light distillates from gasoline and diesel using a catalyst.
FCC Catalyst Market Recent Developments:
- In March 2022, BASF SE launched Fourtitude, a new fluid catalytic cracking (FCC) catalyst designed to maximize the use of butenes in residual feedstocks. Fortitude provides excellent butene selectivity while maintaining catalyst activity.
- In July 2021, Albemarle, a global leader in specialty chemicals, announced the addition of ACTION + Catalyst technology to the company's cornerstone ACTION FCC family of catalysts following two successful commercial trials
- In June 2021, W. R. Grace & Co. announced plans to increase the prices of its fluid catalytic cracking (FCC) catalysts by 3% to 9%, depending on product type and specific customer commitments
FCC Catalyst Market Segmentation Analysis:
The market is split into Gasoline Sulfur Reduction, Maximum Bottoms Conversion, Maximum Light Olefins, Maximum Middle Distillates, and Others, based on the product. Maximum Light Olefins are important building blocks for many end products like polyethylene and polypropylene, so this segment is expected to have the biggest market share.
The market is split into Residue, Vacuum Gas Oil, and Others based on how it is used. Since vacuum gas oil is a key feedstock for fluid catalytic crackers, which are used to make transportation fuels and many other byproducts, it is expected to have the highest CAGR over the next few years.
FCC Catalyst Market Regional Outlook:
During the forecast period, Asia Pacific is expected to have the largest share of the global FCC catalyst market. In 2021, China has a big share of the market for FCC catalysts. During the time frame of the forecast, the country is expected to keep its leading share. The main reason for the growth of the FCC catalyst market in China is that the country keeps putting money into improving and expanding its refinery capacity. For example, the Chinese government gave the green light to the USD 20 billion Shandong Yulong petrochemical project in June 2020. It is expected that the project will start up in 2024. The Shandong Yulong petrochemical project has an ethylene plant that can make 3 million tonnes per year and a refinery that can make 400,000 barrels per day. India is another big country that will have a big share of the Asia-Pacific FCC catalyst market in 2021.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 3.5% from 2023 to 2030 |
| Market Size in 2022 | USD 2.7 Billion |
| By Type | Gasoline Sulfur Reduction, Maximum Light Olefins, Maximum Middle Distillates, Maximum Bottoms Conversion, Other |
| By Applications | Vacuum Gas Oil, Residue, Other |
| By Companies | W. R. Grace and Co.-Conn, Albemarle Corporation, BASF SE, Haldor Topsoe A/S, JGC Catalysts & Chemicals Co., Ltd., China Petroleum & Chemical Corporation, Clariant International Ltd., ReZel Catalysts, Anten Chemical Co., Ltd., SINOCATA, Yueyang Sciensun Chemical Co., Ltd., Johnson Matthey (Interact), Sinopec, CNPC, Yueyang Sciensun Chemical, And Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
FCC Catalyst Market Dynamics:
Market Drivers:
Rising demand for profitable products like petroleum, olefinic gas, and gasoline products to meet growing electricity and fuel needs is a big reason why the market is growing. As fuel consumption goes up, industrial and transportation sectors are likely to use more fuel, which will increase demand for profitable products like petroleum, olefinic gas, and gasoline products. The market will also grow because demand is going up so fast. In this chemical process, catalysts are used to change heavy distillates into light distillates, which are then used to make things like gasoline and diesel. The growth of the fluid catalytic cracking industry should be helped by these factors.
Market Opportunity:
Also, the government is putting more money into oil refining to keep up with rising demand, which gives market players chances to make money from 2022 to 2029. The fluid catalytic cracking (FCC) market will also grow in the future because technology will get better and existing equipment will get better.
Market Challenges
The growth of the fluid catalytic cracking (FCC) market is likely to be slowed down by the high costs of both investing in and running FCC plants. Also, feedstock composition is a big worry for refinery operators. This includes things like heat and profile balances and contaminants. This factor will also slow the growth of the market.
Key Segments Covered:
Top Market Players:
W. R. Grace and Co.-Conn, Albemarle Corporation, BASF SE, Haldor Topsoe A/S, JGC Catalysts & Chemicals Co., Ltd., China Petroleum & Chemical Corporation, Clariant International Ltd., ReZel Catalysts, Anten Chemical Co., Ltd., SINOCATA, Yueyang Sciensun Chemical Co., Ltd., Johnson Matthey (Interact), Sinopec, CNPC, Yueyang Sciensun Chemical, And Others.
FCC Catalyst Market by Types:
- Gasoline Sulfur Reduction
- Maximum Light Olefins
- Maximum Middle Distillates
- Maximum Bottoms Conversion
- Other
FCC Catalyst Market by Applications:
- Vacuum Gas Oil
- Residue
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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