The global catalysts in petroleum refining, chemicals, and polymer synthesis market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing investments in industries that employ catalysts.
Catalysis plays a crucial role in the refining of petroleum as most of its processes are catalytic. Petroleum fractions produced through fractional distillation of crude oil do not fulfil the quality standards to be used as fuels. Catalytic reforming is a process in which high-octane liquid products called reformates is extracted from petrol refinery naphtha’s distilled from crude oil. Usage of bio-catalysts as enzymes for the process of vitro-polymer synthesis is a fairly new stream that are utilized since last two decades. Enzymatic catalysis is ecologically method yet allowing the synthesis of several natural & unnatural polymers having well-defined arrangements with controlled region-selectivity, stereo-chemistry, and chemo-selectivity.
Market Trends, Drivers, Restraints, and Opportunities
- Growing demand for polymers and automobiles is expected to boost the catalysts in petroleum refining, chemicals, and polymer synthesis market.
- Increasing refinery market output in Africa, Middle East, and Asia Pacific is one of key factors fueling the market growth.
- Growing per capita income reflected by a higher GDP growth is one of the major factors driving the market growth.
- Growing demand for maintaining high octane figures is driving the growth of the market.
- High manufacturing costs can restrain the growth of the market.
- Imposition of regulations for the development of better products is estimated to create lucrative opportunities for the market.
Scope of the Report
The report on the catalysts in petroleum refining, chemicals, and polymer synthesis market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Catalysts in petroleum refining, chemicals, and polymer synthesis Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Materials (Metals and Organometallic Catalysts [Inexpensive Metals, Precious Metals, and Metallic Compounds], Aluminosilicates [Zeolites and Molecular Sieves], Chemical Compounds [Peroxides, Acids, Amines, and Others], and Others), Applications (Petroleum Refining [Fluid Catalytic Cracking (FCC), Hydrocracking, Hydrotreating, Alkylation, Reforming, and Isomerization], Chemical Synthesis [Organic Synthesis, Oxidation, Hydrogenation, Dehydrogenation, and Synthesis Gas Processes], and Polymerization [Polyolefins, Condensation Polymers, Thermosetting Polymers, and Additional Polymers])
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Honeywell International Inc.; BASF SE; Exxon Mobil Corporation; Dow; and Chevron Phillips Chemical Company
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Catalysts in Petroleum Refining, Chemicals, and Polymer Synthesis Market Segment Insights
Metals and organometallic catalysts segment is expected to grow at a rapid pace
Based on materials, the market is classified into metals and organometallic catalysts, aluminosilicates, chemical compounds, and others. The metals and organometallic catalysts segment is further categorized as inexpensive metals, precious metals, and metallic compounds. The aluminosilicates segment is further segmented into zeolites and molecular sieves. The chemical compounds segment is further categorized as peroxides, acids, amines, and others. Metals and organometallic catalysts increases the rate of reaction by lowering the activation energy. The metals and organometallic catalysts segment is anticipated to account for a major market share during the forecast period due owing to increasing demand in the chemical synthesis industry.
Petroleum refining segment is anticipated to constitute a key market share
On the basis of applications, the catalysts in petroleum refining, chemicals, and polymer synthesis market is categorized as petroleum refining, chemical synthesis and polymerizatio. The petroleum refining segment is further categorized as fluid catalytic cracking (FCC), hydrocracking, hydrotreating, alkylation, and reforming, isomerization. The chemical synthesis segment is further segmented into organic synthesis, oxidation, hydrogenation, dehydrogenation, and synthesis gas processes. The polymerization segment is further categorized as polyolefins, condensation polymers, thermosetting polymers, and additional polymers. The petroleum refining segment is expected to expand significantly due to growing consumption of petroleum products, such as hydrocarbons. However, the petrochemical industry is estimated to hold a robust rate due to rapid growth in the industrial sector.
Asia Pacific is anticipated to constitute a large market share
In terms of regions, the global market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to the high consumption of petroleum products, including transport fuels, polymers, and other life amenities. The major demand for catalysts in Asia comes from China.
Segments
Materials
- Metals and Organometallic Catalysts
- Inexpensive Metals
- Precious Metals
- Metallic Compounds
- Aluminosilicates
- Zeolites
- Molecular Sieves
- Chemical Compounds
- Peroxides
- Acids
- Amines
- Others
- Other Materials
Applications
- Petroleum Refining
- Fluid Catalytic Cracking (FCC)
- Hydrocracking
- Hydrotreating
- Alkylation
- Reforming
- Isomerization
- Chemical Synthesis
- Organic Synthesis
- Oxidation
- Hydrogenation
- Dehydrogenation
- Synthesis Gas Processes
- Polymerization
- Polyolefins
- Condensation Polymers
- Thermosetting Polymers
- Additional Polymers
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Honeywell International Inc.
- BASF SE
- Chevron Phillips Chemical Company
- Exxon Mobil Corporation
- Dow
Competitive Landscape
Key players competing in the catalysts in petroleum refining, chemicals, and polymer synthesis market are Honeywell International Inc.; BASF SE; Exxon Mobil Corporation; Dow; and Chevron Phillips Chemical Company.
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