Rising demand for refined petroleum products to reflect positively on the global refining catalysts market, says Technavio

Renewable energy


Refining catalyst: Key market research findings

  • APAC dominates the market geographically
  • FCC catalysts account for a majority of the market’s revenue
  • Key vendors – Albemarle, BASF, Honeywell, Shell, and W. R. Grace

Technavio’s market research analysts predict the global market for refining catalysts to grow at a CAGR of more than 3% between 2016 and 2020. The growing demand for refined petroleum products is an important factor that will result in the high demand for refining catalysts among end-users. Developed markets such as the US and Europe are enforcing stricter emission regulations in a bid to reduce the content of sulfur and NOx in vehicle emissions. Such legislations are prompting refiners to upgrade their secondary processing equipment in refineries and supply fuel coherent with current emission standards. During 2015, the APAC region led the demand for refining catalysts globally by accounting for around 40% of the overall market share. New capacity additions coupled with the upgradation and expansion of existing refineries will propel growth of the refining catalysts market in APAC during the forecast period.

The new market research report from Technavio presents a breakdown and analysis of the refining catalysts segments based on the process.

“Stricter regulations related to fuel specifications is triggering an increase in the demand for secondary processing units and refining catalysts. Stringent regulations pertaining to vehicle emissions are being implemented by governments across the globe in an attempt to curb GHG emissions. As a result, refiners in the market are upgrading their secondary processing equipment in refineries frequently to supply fuel that is compliant with the current emission standards. This increase in secondary processing units will propel the demand for refining catalysts over the next four years,” says Vishu Rai, Lead Analyst, Energy, Technavio Research.

Currently, the FCC catalysts segment accounts for almost 48% of the overall market revenue to become the key revenue generating vertical of the global market for refining catalysts. FCC is one of the key processes in any refinery and generally refers to fluidized catalytic cracking. The process involves the conversion of high molecular weight hydrocarbon fractions of crude oil to end-user products such as gasoline. The hydrocarbons converted in this process usually have high boiling points. The primary catalysts used in FCC processes are zeolites.  

The key vendors in the global refining catalysts market include Albemarle, BASF, Honeywell, Shell, and W. R. Grace. In this market, multinational companies fare better than regional ones due to the presence of well-established supply chains across all geographies. Some of the companies have integrated operations. These companies manufacture raw materials, primarily zeolites and chemical compounds, and prepare different categories of catalysts from them. Other companies procure raw materials from vendors but formulate the end-catalyst themselves.

A more detailed analysis is available in the Technavio report, Global Refining Catalyst Market 2016-2020.

We can customize reports by other regions and specific segments upon request.

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