Global Refinery Catalyst Market was valued at USD 8.2 billion in 2019 which is expected to reach USD 15.35 billion by 2027 at a CAGR 7.5%.
For a better understanding of the Refinery Catalyst market, a better grip over the macroeconomic and microeconomic factors is needed as they are impacting the market towards progress. Those factors can ensure a swift helming of the market by rough patches of economic crisis and help in averting plummeting results. With real-time data, the report captures the essence of the market and provides a close reading of demographic changes. Report would assist key players in assessing growth opportunities and optimally use resources provided by growth pockets.
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Refinery catalyst is used to convert petroleum refinery naphtha’s into the high-octane liquid product called as refomats. Also, refinery catalyst can convert low octane hydrocarbons into cyclic naphthalene and other alkanes. Refinery catalyst enhances the operational efficiency of valuable hydrocarbons.
Increase in demand for petroleum and petroleum derived products is the key driving factor which is expected to boost the global refinery catalyst market growth. Furthermore, rise in demand for high octane fuel in various countries including U.S., Germany, Japan, India, and U.K. will significantly boost the market growth during this forecast period. Moreover, increase in global automation sale in Asia Pacific will fuel the market growth.
However, increase in raw material cost is the major restraining factor which is expected to hamper the global refinery catalyst market growth.
Market Key Players
Various key players are discussed in this report such as BASF, AXENS, CRITERION CATALYSTS & TECHNOLOGIES L.P., HONEYWELL, UOP LLC. , HALDOR TOPSOE, W.R. GRACE & CO., ALBEMARLE CORPORATION, CLARIENT INTERNATIONAL, and JOHNSON MATTHEY
By Catalyst Material
- Chemical Compounds
- Catalytic Reforming
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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