Refining Catalysts Market 2018 Is Growing At an Exponential Rate in Upcoming Years 2023 | Global Trends, Industry Growth, Key Players, Share, Size
Refining Catalysts Market Top Study Research Report by Global Trends, Growth rate, Features, Application, Business Opportunities, Industry Demand, Key Players, Share, Size by 2023 | MRFR
Pune, India – December 18, 2018 /MarketersMedia/ —
Refining Catalysts Market is estimated to exhibit a CAGR of over 4% during the forecast 2018–2023.
Refining Catalysts Market Key Players:
The market leaders profiled in the MRFR analysis include W. R. Grace & Co. (US), Albemarle Corporation (US), Haldor Topsoe A/S (Denmark), Criterion Catalysts & Technologies L.P. (US), Honeywell, Uop LLC. (US), Axens SA (France), China Petroleum & Chemical Corporation (Sinopec Corp.) (China), BASF SE (Germany), Exxon Mobil Corporation (US), and Clariant International Ltd (Switzerland).
Refining Catalysts Market Segmental Analysis:
The global refining catalyst is segmented on the basis of type and ingredients.
By type, the market is segregated into fluid catalytic cracking (FCC) catalysts, hydroprocessing catalysts, catalytic reforming catalysts, and others. Increasing fuel standards, better operational efficiency, and stress on green resources are expected to augment the FCC catalysts market growth.
By ingredients, the market is segregated into zeolites, metals, chemical compounds and others. Rising need for non-toxic and hydrophilic adsorbents for waste water treatment and water purification has led to increasing demand for zeolites in the market.
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Refining Catalysts Market Regional Analysis:
The global refining catalyst market is segmented into five major regions, namely Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa.
The report states that Asia Pacific is the largest market. It is expected to grow at a healthy CAGR throughout the assessment period. The region revels in the presence of the most populated economies which in turn augments the demand for energy in the region. This factor drives the demand for refining catalyst in the region. In addition, the rapid development of polymer manufacturing and refining companies in the region is also positively affecting the market growth.
The North America region is another eligible market for refinery catalyst globally. The boom in shale gas in the region has been instrumental in fueling the demand for refinery catalyst, particularly in the United States (U.S). Further, the strict regulations pertaining to the use of crude emission contributes majorly to the revenue of the refinery catalyst market.
The Europe region accounts for a considerable portion of the global market on account of growing automotive production and increasing demand for lightweight vehicles and high-performance cars. The subsequent increase in adoption of turbocharging and other engine technologies to improve power and fuel efficiency has bolstered the market growth in the region. Also, in the region, Germany is a key consumer of refinery catalysts owing to the growing investments from refineries in the region.
The Middle East and Africa market is presumed to grow at a steady CAGR on account of the growing oil and gas exploration activities. The market growth in the region is also backed by various government policies in oil refinery sector along with company acquisitions.
Refining Catalysts Market Competitive Landscape:
The market appears reasonably stable however a fierce competition is expected to replace the stability, prompting the market players to take up strategic activities such as M&A, collaborations, and partnerships to churn the market competition well enough.
Manufacturers of refining catalyst strive to provide their customers with an optimized hydro-processing solution from their extensive, leading-edge technology design portfolio. These market players ensure to work closely with their client and the affiliated catalyst teams to develop cost-effective and customized designs.
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Refining Catalysts Market Opportunities:
Refinery catalysts are substrates used in the refining of crude oil to aid the production of a large number of high-octane petroleum products through the refining process. There are many types of catalysts available in the market. While responding to the challenges occurred during refining, the refining research and development community presented some new catalytic processes and new ways to tailor many of the major refinery processes to produce the fuels, lubricants, petrochemicals, and special products required by a more value conscious and environmentally aware society. Many of these process innovations have come as a result of new applications of zeolite catalysis.
Refining Catalysts Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Refining Catalyst Market
Refining Catalysts Market Table of Content to be Continue…….,
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