Dublin, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The "Refinery Catalysts Market by Type (FCC Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, Catalytic Reforming Catalysts), Ingredients (Zeolites, Metals, Chemical Compounds), and Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global market for refinery catalysts is projected to experience significant growth over the next few years. Forecasts predict that the market will expand from $5.6 billion in 2024 to $6.8 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 4.0%. This growth is attributed to the increasing demand for cleaner fuels combined with strict environmental regulations and the need for efficient refinery processes.
Within this market, it is anticipated that zeolites will be the fastest-growing segment in terms of value. This is due to their essential role in catalyzing a variety of refinery reactions, including cracking, isomerization, and alkylation. Their high acid strength and temperature stability make zeolites vital for industrial refining applications. Enhancements in their catalytic properties through ion exchange and chemical modifications are also contributing to their increased utilization in the refining sector.
Type Market Analysis
Fluid Catalytic Cracking (FCC) catalysts are poised to maintain their position as the largest segment of the market in terms of value. Their ability to break down large hydrocarbon molecules into smaller ones, thereby producing essential fuels like gasoline and distillate fuels, is indispensable. Furthermore, FCC catalysts play a vital role in lowering emissions and improving the quality of refined products, making them a key component in meeting stringent environmental and quality standards.
Geographical Insights
The North American market is expected to remain one of the leading regions in terms of value, driven by its significant oil reserves and stringent emissions and fuel quality regulations. The region's commitment to maintaining high-quality standards and reducing environmental impact continues to foster growth in the refinery catalysts market.
Industry Dynamics and Competitive Landscape
The report highlights a multitude of factors influencing the refinery catalysts market, including key drivers such as the surging demand for cleaner fuels, prospective opportunities from the shift towards renewable fuels, and challenges like the volatility of precious metal prices. It also provides an exhaustive competitive assessment, offering insights into the market shares, strategies, and product capabilities of the leading players in the industry. The competitive analysis serves as a critical resource for stakeholders to understand the prevailing market competition and emerging trends.
Market Advancements and Strategic Outlook
As the industry continues to evolve, the report sheds light on product advancements, innovation efforts, and significant market developments. These insights aim to equip industry players with the relevant information required to make informed decisions, capitalize on growth opportunities, and navigate the market's dynamic landscape.
The global refinery catalysts market is at the cusp of a substantial growth phase, underpinned by the vital role of catalysts in modern refining processes and the broader shift towards sustainability and environmental conservation in the energy sector.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 222 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $5.6 Billion |
| Forecasted Market Value (USD) by 2029 | $6.8 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
Companies Featured
- Albemarle Corporation
- W.R. Grace & Co.
- BASF SE
- Weaknesses and Threats
- Topsoe
- Honeywell Uop
- Axens
- Clariant
- Johnson Matthey
- Shell Catalysts & Technologies
- China Petroleum & Chemical Corporation (Sinopec)
- Arkema
- Jgc Catalysts and Chemicals Ltd.
- Chevron Corporation
- Antenchem
- Dorf Ketal Chemicals (I) Pvt. Ltd.
- Exxon Mobil Corporation
- Rezel Catalysts Corporation
- Kuwait Catalyst Company
- Knt Group
- Unicat Catalyst Technologies, LLC
- N. E. Chemcat Corporation
- Gazprom
- Zeolyst International
- Nippon Ketjen Co. Ltd.
- Qingdao Huicheng Environmental Technology Co. Ltd.
- Chempack
For more information about this report visit https://www.researchandmarkets.com/r/xqtwke
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