Global Refinery Catalyst Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope Refinery catalysts are chemical substances used in the conversion of petroleum refinery naphtha into high-octane liquid products or reformat to change the rate of chemical reactions and improve the quality of the end product when treating petroleum, crude oil, and gasoline. Sizing and Forecast The refinery catalyst market size has grown strongly in recent years. It will grow from $5.88 billion in 2023 to $6.19 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to petroleum-based products, increasing demand for transportation fuel and rise in oil and gas exports.. The refinery catalyst market size is expected to see strong growth in the next few years. It will grow to $7.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to high octane fuel, growing petrochemical industry and increasing demand for energy. Major trends in the forecast period include launch of hydro processing catalyst solutions, focus on increasing their investments to develop new product solutions and to meet the growing market demand for refinery catalysts, focus on developments in advanced fluid catalytic cracking (fcc) catalysts, focus on strategic acquisitions and collaborations to improve their financial strength, strengthen their product portfolio and expand their geographical presence, focus on use of hydroflex technology in refining to produce renewable diesel and focus on catalysts that play a crucial role in reducing emissions and developing cleaner energy sources.. Order your report now for swift delivery, visit the link: https://www.thebusinessresearchcompany.com/report/refinery-catalyst-global-market-report Segmentation & Regional Insights The refinery catalyst market covered in this report is segmented – 1) By Type: FCC (Fluid Catalytic Cracking) Catalyst, Hydro Treating Catalyst, Hydro Cracking Catalyst, Catalytic Reforming Catalyst, Other Types 2) By Ingredient: Zeolites, Metals, Chemical Compounds 3) By Application: Oil Refineries, Chemical Synthesis, Polymer Manufacturing, Other Applications Asia-Pacific was the largest region in the refinery catalyst market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refinery catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Intrigued to explore the contents? Secure your hands-on a free sample copy of the report: https://www.thebusinessresearchcompany.com/sample.aspx?id=9115&type=smp Major Driver Impacting Market Growth The increasing demand for transportation fuel is expected to propel the growth of the refinery catalysts market going forward. Transportation fuels are the energy sources that are used to power motor vehicles that use internal combustion engines. Refinery catalysts are used in petroleum refineries to convert crude oil into commercial products such as transportation fuels, engine fuels, and heating fuels by increasing chemical reactions to reduce heavy metals and harmful organic compounds to create cleaner end products that can be used as transportation fuel. For instance, according to the Energy Information Administration (EIA), a US-based federal agency for collecting, analyzing, and disseminating energy information, petroleum products accounted for about 90% of the total U.S. transportation sector energy use in the year 2021, which gasoline is the dominant transportation fuel followed by distillate fuels such as diesel fuel and jet fuel. Therefore, the increased demand for transportation fuel is driving the growth of the refinery catalysts market. Key Industry Players Major companies operating in the refinery catalyst market report are Exxon Mobil Corporation, Royal Dutch Shell, China Petroleum & Chemical Corporation, BASF SE, Honeywell International,Chevron Corporation, W. R. Grace & Co, Albemarle Corporation, Arkema, Clariant International Ltd., Sinopec Catalyst Company, Tokuyama Corporation, Nippon Ketjen, S-Oil Catalyst, Qingdao Eno Chemicals, Hindustan Platinum, Dorf Ketal, AB Enterprises, Haldor Topsoe, Johnson Matthey, Axens, INEOS, Clal France, Zeochem AG, MOL Group, Evonik Industries AG, Metalor, Umicore, Heranius, NIS a.d. Novi Sad, OMV Group, Grupa LOTOS S.A, Rosneft, Unipetrol Group, Polimer Sp. z o.o, PolyComp s.r.o, RESINEX Czech Republic, Tecomelt s.r.o, CRI Catalyst Company, Unicat Catalyst Technologies, Grace Catalysts Technologies, INNOSPEC Limited, Fortuna Silver Mines Inc, Mottcorp The refinery catalyst market report table of contents includes: 1. Executive Summary 2. Refinery Catalyst Market Characteristics 3. Refinery Catalyst Market Trends And Strategies 4. Refinery Catalyst Market - Macro Economic Scenario 5. Global Refinery Catalyst Market Size and Growth ... 32. Global Refinery C