Refinery catalysts are used by petroleum refineries in the cracking process. Global refinery catalyst market is mainly driven by the increasing demand for cleaner petroleum products. Based on type, the refinery catalyst can be categorized into seven segments namely Hydroprocessing Catalysts, Fluid Catalytic Cracking Catalysts, Alkylation Catalysts, Hydrogen Manufacturing Catalysts, ... Read more
Catalysts work by enhancing the rate of chemical reactions and are the critical part of industrial processes to limit cost and save energy. Refinery Catalyst is a chemical process that converts the petroleum refinery products (low octane count) from the crude oil into (high-octane) liquid products such as diesel, gasoline, kerosene, etc. The end products of which are called as reformates. These reformates are chief sources of aromatic bulk chemicals such as benzene, toluene, xylene and ... Read more
Global Refinery Catalyst Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market?s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic ... Read more
According to the recent study the refinery catalyst market is projected to reach an estimated $5.0 billion by 2028 from $4.0 billion in 2023, at a CAGR of 4.5% from 2023 to 2028. Growth in this market is primarily driven by increasing demand of high octane fuel in transportation industry globally and rising demand for petroleum and petroleum derived products.
Cost and Accessibility: Some catalysts rely on scarce and expensive metals, making them cost-prohibitive for certain regions or refineries. Finding alternative materials and improving production processes can help mitigate this challenge. Environmental Concerns: While catalysts play a vital role in refining, they can generate waste and pose environmental risks if not managed properly. Developing catalysts with reduced toxicity and recyclability can help minimize their impact on the ... Read more
Refinery catalysts help improve quality, yields, and maximize profitability of oil refineries. They reduce production costs and ensure environmental compliance by decreasing pollution from petroleum processing.
Market key trends:
One of the major trends in the refinery catalyst market is the growing demand for eco-friendly catalysts. Strict environmental regulations regarding emission levels from refineries are promoting research and development ... Read more
Refinery catalysts are substances used to increase the rate of chemical reactions in refineries without themselves undergoing any permanent chemical change. They are of high importance in the oil refining industry as they help maximize fuel production, improves crude oil conversion efficiency, and regulates emission control. Growing energy needs and rising fuel demand has increased refinery capacity additions globally presenting numerous growth prospects for refinery catalyst suppliers. ... Read more
