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Refining Catalysts Market – Industry Size, Growth Factors, Top Leaders, Development Strategy, Future Trends, Historical Analysis, Competitive Landscape and Regional Forecast 2024

Refining

The Refining Catalysts Market Report provides pin-point analysis for changing competitive dynamics. Refining Catalysts Market provides a forward looking perspective on different factors driving or restraining market growth with a six-year forecast assessed on the basis of how the market is predicted to grow. It helps in understanding the key product segments and their future. Refining Catalysts Market provides pin point analysis of changing competition dynamics and keeps you ahead of competitors. It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments.

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Refining Catalysts Market report studies the world market size of Refining Catalysts in key regions like North America, Europe, Asia Pacific, Central & South America and Mideast & Africa, focuses on the consumption of Refining Catalysts in these regions. The various contributors concerned within the price chain of Refining Catalysts embrace makers, suppliers, distributors, intermediaries, and customers.

Market Overview

The market for refining catalysts is expected to register a CAGR of 3.17% during the forecast period of 2019-2024. Major factors driving the market studied are the increasing investment in refineries and the accelerating demand for higher octane fuel. However, the volatility in precious metal prices is expected to hinder the market growth.

– By ingredient, the zeolites segment accounted for the largest market share (52.39%) in 2018 and is expected to grow during the forecast period owing to the fact that it is used in almost all types of refining units with major consumption in fluidized catalytic cracking units.
– The shifting focus toward nanocatalysts is likely to act as an opportunity in the future.
– Asia-Pacific dominated the market across the globe with the largest consumption from countries, such as China and India.

Key Market Trends

Fluid Catalytic Cracking (FCC) Catalysts to Dominate the Market

– The fluid catalytic cracking (FCC) process plays a crucial role in refineries while producing lighter products from crude oil.
– FCC unit helps in converting a variety of feed types, such as cracked gas oil, gas oil, deasphalted gas oils, vacuum/atmospheric resins, and others, into lighter and high-value products, such as diesel oil, jet fuel, LPG, kerosene, and gasoline.
– Today, there are more than 500 FCC units in the world. Around 35% of the total gasoline and 50% of the total transportation fuel is produced through FCC processing.
– In the FCC unit, the feedstock is heated at high temperature and moderate pressure. Along with this, the feedstock is brought in contact with a catalyst which helps to break the long-chain molecules of the high-boiling hydrocarbon liquids into small molecules, which are further collected in the form of vapors.
– In the FCC process, the catalysts are used in the form of fine powders. Previously, catalysts, such as amorphous silica-alumina were used for cracking vacuum gas oils in the FCC unit.
– Owing to the aforementioned factors, FCC catalysts are of great importance in propelling the market demand for refining catalysts in the forecast period.

Asia-Pacific to Dominate the Market

– In 2018, Asia-Pacific accounted for the largest share in the market for refining catalysts with almost half of the global share and is also expected to be the fastest growing market.
– China is the major market holder and accounted for more than 40% share of the region. China’s refinery capacity is about 14177 thousand barrels per day which constitute 14.6% of the world’s refining capacity.
– Additionally, one of the top oil refiners in India, Indian Oil Corp. Ltd announced its plan to invest INR 1.8 trillion along with the expansion of Barauni and Gujarat refineries in order to expand the refining capacity in the country in the coming five years.
– Furthermore, Rotary Engineering Ltd, Singapore has signed a contract with Emirates National Oil Co. (ENOC) of Dubai which amounts to USD 1 billion. Rotary Engineering will make 12 storage tanks refinery which will store the increased production of jet fuel, naphtha, and gasoline blendstocks.
– Such investments are expected to boost the market for refining catalysts in the region during the forecast period.
– The huge growth of Asia-Pacific is quite instrumental in the expansion of the refining catalysts market.

Competitive Landscape

The refining catalysts market is consolidated among the top four players, as they occupy about 82% of the market. The major companies include W.R. Grace & Co., Albemarle Corporation, BASF SE, Sinopec (China Petroleum & Chemical Corporation), and Haldor Topsoe, among others.

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Refining Catalysts Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Refining Catalysts Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.

The Objectives of this report are:

  • To define, describe, and analyze the Refining Catalysts market on the basis of product type, application, and region
  • To forecast and analyze the size of the Refining Catalysts market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
  • To forecast and analyze the Refining Catalysts market at country-level in each region
  • To strategically analyze each submarket with respect to individual growth trends and its contribution to the Refining Catalysts market
  • To analyze opportunities in the Refining Catalysts market for stakeholders by identifying high-growth segments of the market

Key Questions Answered in Refining Catalysts market report:

  • What will the market size be in 2024 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?

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Refining Catalysts Market Report Provides Comprehensive Analysis as Following:

Market segments and sub-segments

Market size & shares

Market trends and dynamics

Market Drivers and Opportunities

Market Analysis and Segmentation

Competitive landscape

Supply and demand

Technological inventions in Refining Catalysts trade

Marketing Channel Development Trend

Refining Catalysts Market Positioning

Pricing Strategy

Brand Strategy

Target consumer

Distributors/Traders List enclosed in Positioning Refining Catalysts Market

Refining Catalysts Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leader’s revenue forecasts till 2024. In conclusion, Refining Catalysts Market 2019 report presents the descriptive analysis of the Refining Catalysts Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Refining Catalysts Market competitors.

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Emily Rodriguez

Emily Rodriguez

I have 25 years of writing experience as a journalist and business executive. My fields of expertise include higher education, business journalism, report writing and project management. I work closely with writers to edit carefully and help to hone ideas to effectively deliver messages and stories.