Refinery catalysts are compounds that are employed in industrial processes, such as those that occur in oil refineries, to speed up chemical reactions. Using catalysts allows for a quicker transformation of crude oil into usable byproducts like jet fuel, diesel, and gasoline. As a result of their ability to handle more crude oil faster and with fewer contaminants, catalysts are a crucial component of the refining process. The rising demand for oil-based products has increased the need for refinery catalysts. New catalysts are also being created to comply with more stringent environmental requirements, boost the refinement process’ effectiveness, and increase safety.
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APAC is the largest consumer and manufacturer of refinery catalysts globally. According to the BP Statistical Review of World Energy 2019, APAC’s total oil production was 7,633 thousand barrels per day (BPD) in 2018, with a global market share of 8.1%. APAC’s political and economic conditions have driven the market penetration of refinery catalysts.
The global refinery catalysts market size is expected to grow from USD 4.0 billion in 2020 to USD 4.7 billion by 2025, at a CAGR of 2.9% during the forecast period. The major factors driving the market are the growing number of stringent regulations for vehicle emissions across the world and rising consumption of petroleum derivatives.
The major players in the refinery catalysts market include Albemarle Corporation (US), W R Grace (US), BASF (Germany), Haldor Topsoe (Denmark), Honeywell UOP (US), Clariant (Switzerland), Axens (France), Johnson Matthey (UK), China Petroleum and Chemical Corporation (Sinopec) (China), and Shell Catalyst & Technologies (Netherlands). These players have adopted various growth strategies to expand their presence in the market further. New product launch, joint ventures, and investment & expansion have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global refinery catalysts market.
Albemarble Corporation is the largest player operating in the refinery catalysts market. The company has 31 manufacturing facilities, and 45 sales offices across the globe. The company offers a wide range of refining catalysts to various customers, such as Total S.A. (France), Chevron Corporation (US), INEOS Group Holding S.A. (UK) and Saudi Aramco (Saudi Arabia). The company has adopted new product launch and joint venture strategies to broaden its product portfolio and maintain its position in the market.
- In November 2018, Albemarle launched XPLORE, a new platform for the clean transportation fuel market. This catalyst will help in hydroprocessing catalyst technology for refineries to produce clean transportation.
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W.R.Grace is one of the largest producers of refinery catalysts in the world. The company offers refining, polyolefin, and other chemical catalysts through its Grace Catalyst Technologies business segment and has customers in 70 countries with operations in 30 countries The company has 15 manufacturing facilities in various regions, such as North America, Middle East & Africa, and APAC. In recent years, W.R.Grace has adopted joint venture business strategy to strengthen its position in the market, to maintain its leading position in the refinery catalysts market.
- In March 2019, W.R.Grace formed a joint venture with Gladieux Metals Recycling (US) to explore a full cycle catalyst management service for hydroprocessing process in North America. The joint venture between the two companies will help in expanding the use of recycled metals recovered from hydroprocessing catalysts.
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