SAN FRANCISCO, October 20, 2015 /PRNewswire/ --
The global refinery catalyst market is expected to reach USD 6.18 billion by 2022, according to a new report by Grand View Research, Inc. Growing need for environmental friendly/high performance fuels is expected to remain a key driving factor for global refinery catalyst market. Stringent EPA and REACH environmental regulations to curb sulfur and NOx emissions caused due to growing refinery is also expected to have a positive impact on the market growth. Increasing refinery complexity along with growing requirement to optimize tight oil and sour crude processing has led to the usage of specialty catalysts with improved efficiency.
Browse full research report with TOC on "Refinery Catalyst Market Analysis By Material (Zeolites, Metals, Chemical Compounds), By Application (FCC, Alkylation, Hydrogenation, Hydrotreating, Catalytic Reforming) And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/refinery-catalysts-market
Zeolites were the most preferred catalyst material with demand share exceeding 30% of total market volume in 2014. Zeolites are expected to witness significant growth on account of high requirement in various refinery processes including catalytic reforming, hydrotreating, and FCC. High porosity and adjustable acidity are key properties on account of which zeolites are used as catalysts in refining and petrochemical production. Chemical compounds are anticipated to witness the highest growth of 3.5% from 2015 to 2022. Low price of chemical compounds as compared to zeolites, metals, and enzymes are expected to have a positive impact on market growth.
Further key findings from the report suggest:
- Global refinery catalyst market demand was 1,300.8 kilo tons in 2014 and is expected to grow at a CAGR of 3.3% from 2015 to 2022.
- Fluid catalytic cracking (FCC) refinery catalyst demand stood at 617.9 kilo tons in 2014. Growing demand for high-performance transportation fuels including gasoline and diesel are anticipated to drive this segment over the forecast period.
- Hydrotreating is anticipated to witness highest the growth of 4.7% in terms of market value over the forecast period. High requirement to upgrade the middle distillates to high-grade finished kerosene, heating fuel oils and diesel along with pre-treatment of mixed distillates obtained from various process streams prior to catalytic cracking is attributed to high growth.
- Asia Pacific was the leading regional market and accounted for over 30% of global demand in 2014. Increasing refining capacity particularly in China, India, Indonesia, Vietnam and Malaysia are expected to drive the regional growth. China and India were reported as the second and fifth largest countries in global capacity refining market in 2013. Asia Pacific is also expected to witness the highest growth over the forecast period.
- European Commission's inclination towards reducing GHG emissions coupled with regulatory bills intended for promoting biofuel industry is expected to increase demand for enzyme catalyst in Europe.
- Key industry participants include W.R. Grace & Co-Conn, Zeolyst International Inc., UOP LLC, Evonik Industries, DuPont, INEOS Group Limited, and Johnson Matthey PLC.
Grand View Research has segmented the refinery catalyst market on the basis of material, application and region:
- Refinery Catalyst Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- Chemical Compounds
- Refinery Catalyst Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- Fluid Catalytic Cracking (FCC)
- Catalytic Reforming
- Refinery Catalyst Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- North America
- Asia Pacific
- Rest of the World (RoW)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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