This “Refining Catalysts Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Refining Catalysts market can use for expanding their business in untapped market to increase their customer base.
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Refining Catalysts Market Covers Manufacturers:
Scope of the Report:
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Key Market Trends:
Fluid Catalytic Cracking (FCC) Catalysts to Dominate the Market
– The fluid catalytic cracking (FCC) process plays a crucial role in refineries while producing lighter products from crude oil.
– FCC unit helps in converting a variety of feed types, such as cracked gas oil, gas oil, deasphalted gas oils, vacuum/atmospheric resins, and others, into lighter and high-value products, such as diesel oil, jet fuel, LPG, kerosene, and gasoline.
– Today, there are more than 500 FCC units in the world. Around 35% of the total gasoline and 50% of the total transportation fuel is produced through FCC processing.
– In the FCC unit, the feedstock is heated at high temperature and moderate pressure. Along with this, the feedstock is brought in contact with a catalyst which helps to break the long-chain molecules of the high-boiling hydrocarbon liquids into small molecules, which are further collected in the form of vapors.
– In the FCC process, the catalysts are used in the form of fine powders. Previously, catalysts, such as amorphous silica-alumina were used for cracking vacuum gas oils in the FCC unit.
– Owing to the aforementioned factors, FCC catalysts are of great importance in propelling the market demand for refining catalysts in the forecast period.
Asia-Pacific to Dominate the Market
– In 2018, Asia-Pacific accounted for the largest share in the market for refining catalysts with almost half of the global share and is also expected to be the fastest growing market.
– China is the major market holder and accounted for more than 40% share of the region. China’s refinery capacity is about 14177 thousand barrels per day which constitute 14.6% of the world’s refining capacity.
– Additionally, one of the top oil refiners in India, Indian Oil Corp. Ltd announced its plan to invest INR 1.8 trillion along with the expansion of Barauni and Gujarat refineries in order to expand the refining capacity in the country in the coming five years.
– Furthermore, Rotary Engineering Ltd, Singapore has signed a contract with Emirates National Oil Co. (ENOC) of Dubai which amounts to USD 1 billion. Rotary Engineering will make 12 storage tanks refinery which will store the increased production of jet fuel, naphtha, and gasoline blendstocks.
– Such investments are expected to boost the market for refining catalysts in the region during the forecast period.
– The huge growth of Asia-Pacific is quite instrumental in the expansion of the refining catalysts market.
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Target Audience of Refining Catalysts Market:
- Manufacturer / Potential Investors
- Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
- Association and government bodies.
Key Reasons to Refining Catalysts Market Report:
- Analyzing various perspectives of the Refining Catalysts market with the help of Porter’s five forces analysis
- The End User that is expected to dominate the Refining Catalysts market is analyzed in detail
- The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Refining Catalysts market.
- Identify the latest developments, market shares and strategies employed by the major market players.
- Regional analysis of Refining Catalysts market studied, during the forecast period
- The segments that are expected to dominate the Refining Catalysts market studied.
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