Refining Catalysts Market Overview:
Refining Catalysts Market is estimated to exhibit a CAGR of over 4% during the forecast 2018–2023.
Refining Catalyst enhances the rate of chemical reactions and are considered a critical part of a process in terms of cost and time efficiency. Refinery catalyst are used in refineries for the process of converting petroleum refining products from crude to high octanes liquid products such as diesel, kerosene, gasoline, and others. These catalysts are used in various processes such as hydrotreating, hydrocracking, and catalyst reforming among others.
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Refining Catalysts Market Key Players:
Refining Catalyst Market are: Haldor Topsoe A/S (Denmark), BASF SE (Germany), Axens (France), Clariant International Ltd (Switzerland), Royal Dutch Shell plc (the Netherlands), Exxon Mobil Corporation (U.S.), Honeywell International Inc (U.S.), China Petroleum & Chemical Corporation (China), Kuwait Catalyst Company (Kuwait), and Criterion Catalysts & Technologies L.P. (U.S.) among others.
Refining Catalysts Market Segmental Analysis:
Refining Catalyst is segmented into a type, ingredients, and region. On the basis of the type, the market is segregated into Fluid Catalytic Cracking (FCC) Catalysts, hydro processing catalysts, catalytic reforming catalysts, and others. On the basis of the ingredients, the market is segregated into zeolites, metals, chemical compounds and others.
Refining Catalysts Market Regional Analysis:
Refining Catalyst Market is segmented into five regions: Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa.
Asia Pacific is the largest market and is expected to grow at an expanding CAGR during the assessment period. The presence of the most populated economies has augmented the demand for energy in the region, which is a significant factor driving the demand for refining catalyst in the region. Moreover, the rapid development of polymer manufacturing and refining companies in the region is affecting the market growth positively. Furthermore, the presence of the largest refinery in the region is also projected to drive the demand for refinery catalysts.
The Middle East is expected to grow at a steady CAGR owing to the growing oil and gas exploration activities.
The North American region is another dominant market for refinery catalyst. The recent shale gas boom in the region has boosted the demand for refinery catalyst mainly in the U.S. Moreover, the stringent regulations pertaining to the use of crude emission is significantly the revenue of the refinery catalyst market.
Refining Catalysts Market Competitive Analysis:
Refining Catalysts Market appears to be competitive with the presence of several large and small players operating in the Refining Catalysts Market. These Key players compete based upon pricing, quality, Technology and reputation. Refining Catalysts market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
Manufacturers operating in the Refining Catalysts Market strive to respond to the growing demand for BASF SE have introduced new boron-based technology refining catalysts to curb the sulphur emissions and increase the selectivity & yield of the desired products in various petrochemical refining processes. This gives a challenge to other refining catalysts manufacturers to sustain in the changing regulations and government policies world owing to the increasing environmental concerns.
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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