Catalyst is a substance that increases the rate of a chemical reaction without itself undergoing any change. In industrial processes, catalyst helps in decreasing the limit cost and help in saving energy. In the refinery industry, refinery catalysts are used to convert heavy oil into valuable oil and distilled products. Also sometimes, refinery catalyst aids in converting the petroleum refinery products from crude oil to liquid products that is from low octane count to high octane count like gasoline, diesel, kerosene etc. Reformates are the term used for such end products which are the main base for aromatic bulk chemical like benzene, xylene, toluene, and important blending of gasoline stock. The rise in need of fuel transportation is expected to speed up the consumption of refinery catalyst. Furthermore, the rise in the demand of the refined products in the market caused the refinery catalysts to observe a growth in the pace of the market.
Refinery Catalyst Market (RCM) Taxonomy_MI
The market for refinery catalyst is classified as per type, ingredients and applications across the globe.
The market for refinery catalyst as per type is classified into:
- FCC Catalyst
- Hydrocracking Catalyst
- Hydrotreating Catalyst
- Catalytic Catalyst
- Others
The market for refinery catalyst as per ingredients is classified into:
- Zeolite
- Natural Zeolite
- Synthetic Zeolite
- Metals
- Precious Metals
- Gold
- Platinum
- Palladium
- Rhodium
- Rare Earth Metals
- Transition & Base Metals
- Tungsten
- Nickel
- Cobalt
- Iron
- Molybdenum
- Zirconium
- Manganese
- Chromium
- Chemical Compounds
- Sulfuric Acid
- Hydrofluoric Acid
- Calcium Carbonate
The market for refinery catalyst as per application is classified into:
- Oil Refineries
- Polymer manufacturing
- Chemical synthesis
- Environmental Safety
- Others
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FCC or the Fluid Catalytic Cracking is the mainly the sole subordinate process applied in petroleum refineries. It allows conversion of high molecular weight & high boiling fraction of petroleum crude oil to valuable product like gasoline, olefin gases and others. In earlier times, cracking of petroleum hydrocarbons was performed by thermal cracking but now it is replaced by catalytic cracking. Thus, the market of hydrocracking of refinery catalyst division will grow significantly in the predicted period.
Globally, the main market is the segment of Zeolite ingredient in the market of refinery catalyst since it is mostly used in the FCC processes. Due to its cost being affordable, added with other benefits, it has increased the development of the refinery catalyst in the process of FCC.
Moreover, other metals like nickel, tungsten, platinum, cobalt, molybdenum and many more metals are mostly used in the process of hydrocracking and hydrotreating processes to get rid of the impurities and lessen the effect of harmful gases in the environment by lessening the emission of harmful gases. The demand for fuel with less sulfur content is rising and so need for metals is observed to have a substantial development in the predicted period.
Refinery Catalysts Market Outlook_MI
- Asia Pacific leads the main market for refinery catalysts. The reason for the burgeoned growth in India and China is the largest population which is the cause of growth in these countries in terms of Urbanization, Industrialization, and other Construction activities. Thus, pushing the market growth of refinery catalysts.in Asia Pacific rapidly. The fastest development and industrial development of polymer manufacturing and the refinery companies in the region of Asia-Pacific is anticipated to raise the growth and development of the refinery catalysts market in the region.
- The rise in activities of oil and gas exploration accelerated the demand of refining catalysts in the Middle East. So, the market for the refinery catalysts is anticipated to grow in this region.
- Over the last few years, the economic downturn in Europe has been an obstacle for the market to grow. But, the market has seen a steady growth rate due to the evolving construction and automobile industry.
- In North America, the boom of Shale gas has gained a lot of attention in the market and been the reason of setting up of many projects and explorations. Subsequently, this has caused the catalyst in converting crude oil to lighter forms. In North America, the rise in application of petroleum feedstock is generating major opportunities of growth in the market of refinery catalyst.
Key Developments_MI
For example, BP global in May 2018, combined with a HTE (high throughput experimentation) company to assess refining catalyst for commercial purposes naphtha reforming and for the use of hydrocracking by means of high throughput technology under the required and relevant commercial conditions for the refineries all over the world.
For example, Albemarle Corporation in December 2015, introduced AlkyStar catalyst (zeolite based) for producing high-quality alkylate after the commencement of the world’s maiden solid acid catalyst alkylation unit at the Shangdong in China which is a plant of Zibo Haiyi Fine Chemical Co., LTD.
BASF SE in March 2016 introduced its Borotec fluid catalytic cracking (FCC) catalyst by means of boron-based technology. This would provide more flexibility to the mild and moderate resid feed FCC units in crude selection that would give the high-value product an increased amount of yield.
In July 2018, owing to the need of conversion of naphtha feedstock into aromatics, Honeywell UOP licensed its novel R-364 Platforming catalyst with Fuji Oil Co., Ltd.
Johnson Matthey acquired Intercat,Inc., and its subsidiaries in October 2010, for about US $56.2 million. The technology of Intercat will toughen John Matthey’s place in growing the sectors of petroleum refining catalysts.
Key players in the global refinery catalyst market_MI
BP Global and Royal Dutch Shell. Other key industry participants include YARA International, Foster Wheeler AG, OXEA GmbH, W R Grace, Johnson Matthey, Albemarle Corporation, BASF SE, Technip SA, and UOP LLC.
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