23rd January 2020 – Refinery Catalyst Market research report interprets definition, an investigation of significant progress in the market. It provides overall industry survey, product description, wide array of applications, top players, and development forecast. It enhances understanding about that market along with new business trends.
The global Refinery Catalyst Market is projected to grow at a significant CAGR during the forecast period. With the current reforms in policies for Greenhouse Gases (GHG), in particular carbon dioxide, there has been a constant rise in demand for petrochemical products. The market witnesses a rise in use of production of eco-friendly fuels and highly purified petrochemicals enable the need for enhanced refinery in catalysts and processes. In the near future, there will be a strong need for catalytic materials for integration of catalysis and reaction engineering.
The drivers to refinery catalysts market include increase in demand for fuel plants and octane fuel. Rise in industrialization, globalization and number of vehicles is likely to demand gasoline and clean fuel. Subsequently, the demand for low sulphur diesel is bolstering the market growth and rise in use of petroleum feedstock is creating lucrative opportunities for market growth during the forecast period. Flexibility in environmental regulatory policies and fuel processing policies have enlarged the market scope
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Material segment for refinery catalyst market includes zeolites, metals and chemical compounds. Zeolites include synthetic zeolite and natural zeolite. Metals category include precious metals, transition and base metals, rare earth metals and chemical compounds.
Application category includes chemical synthesis, polymer manufacturing, oil refineries and environmental safety. By type, the refinery catalyst industry includes hydro treating catalyst, hydrocracking catalyst, catalytic reforming catalyst and FCC catalyst.
Geographical segmentation for refinery catalysts market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America accounts for a significant share in the global market due to increase in oil production and stringent government regulations pertaining to emission standards in the refining sector. Asia-Pacific regions are likely to gain a higher traction in the forecast period as regions in APAC sector are emerging economies. Major players are emphasizing on enhanced capacities in APAC regions serving to the growing demand. The key players in the refinery catalyst industry include BASF, W.R. Grace, Materia Inc, Umicore Ag & Co, Exxon Mobil and Dupont.
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