The North America refining catalysts market size is anticipated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the adoption of improved process designs, unique equipment, and high performance of refinery catalysts.
A refining catalyst is a chemical that is used to transform naphtha into reformats, which are high-octane liquid products. It also produces cyclic naphthalene and other branched alkanes from low-octane hydrocarbons. The aromatic hydrocarbons are then dehydrogenated to generate high-octane aromatic hydrocarbons. Companies can create high-valued components that are utilised in petrochemicals, diesel, and gasoline by utilising a refining catalyst.
Refinery catalysts are primarily employed in petroleum refineries to change the pace of chemical reactions and improve the quality of gasoline products generated by processes such as fluid catalytic cracking catalysts (FCC) and hydro-processing. Using a refining catalyst, the companies may produce high-value components used in petrochemicals, diesel, and gasoline.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for petroleum derivative products and chemicals is anticipated to propel the market growth during the forecast period.
- Increasing demand for fuel with a high-octane number is anticipated to push the growth of the North America refining catalysts market.
- Growing focus of government regulations on the use of ultra-low sulfur diesel (ULSD) is expected to drive the market growth.
- High volatility in precious metal prices is anticipated to hinder the market growth during the forecast period.
- Technological advancements in designing catalysts that can handle all kinds of feedstock is estimated to create opportunities for the market expansion.
Scope of the Report
The report on the North America refining catalysts 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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North America Refining Catalysts Market - 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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Ingredients (Zeolites, Metals, and Chemical Compounds), Types (Fluid Catalytic Cracking Catalysts, Reforming Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, Isomerization Catalysts, and Alkylation Catalysts)
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Geographical Scope
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The US, Canada, Mexico, and Rest of North America
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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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BASF SE, Albemarle Corporation, Haldor Topsoe A/S, and W. R. Grace & Co.-Conn.
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North America Refining Catalysts Market Segment Insights
Zeolites segment to represent a large market share
Based on ingredients, the market is divided into zeolites, metals, and chemical compounds. The zeolites segment is expected to account for a major market share during the forecast period owing to its increasing use in various types of refining units that consumes high amount of zeolites in fluidized catalytic cracking units. Zeolites are hydrated aluminosilicate minerals that are part of the microporous solid category. The porosity and high surface area of the ingredient makes it a prominent adsorbent and catalyst. Potassium (K+), sodium (Na+), calcium (Ca2+), and magnesium (Mg2+) are all accommodated by the porous structure of zeolites.
Fluid catalytic cracking catalysts segment to expand at a substantial CAGR
In terms of types, the market is segmented into fluid catalytic cracking catalysts, reforming catalysts, hydrotreating catalysts, hydrocracking catalysts, isomerization catalysts, and alkylation catalysts. The fluid catalytic cracking catalysts segment is estimated to register at a high CAGR during the forecast period. The fluid catalytic cracking process plays a crucial role in refineries while producing lighter products from crude oil. The fluid catalytic cracking catalyst unit aids in the conversion of a wide range of feedstocks, including cracked gas oil, gas oil, deasphalted gas oils, vacuum/atmospheric resins, and others, into lighter and higher-value products, such as diesel oil, jet fuel, LPG, kerosene, and gasoline.
The US to dominate the market
On the basis of regions, the market is categorized as United States, Canada, Mexico, and Rest of North America. The US is anticipated to dominate the market during the forecast period. The country’s market growth is attributed to the production of gasoline, which includes thermal cracking (coking), catalytic hydrocracking, and hydro-treating. The Government of the US is pursuing a political gain strategy by deregulating oil and gas production in order to further leverage the country’s exports.
Segments
Segments Covered in the Report
The North America refining catalystsmarket has been segmented on the basis of
Ingredients
- Zeolites
- Metals
- Chemical Compounds
Types
- Fluid Catalytic Cracking Catalysts
- Reforming Catalysts
- Hydrotreating Catalysts
- Hydrocracking Catalysts
- Isomerization Catalysts
- Alkylation Catalysts
Geography
- United States
- Canada
- Mexico
- Rest of North America
Key Players
- BASF SE
- Albemarle Corporation
- Haldor Topsoe A/S
- W. R. Grace & Co.-Conn.
Competitive Landscape
Key players competing in the North America refining catalysts market include BASF SE, Albemarle Corporation, Haldor Topsoe A/S, and W. R. Grace & Co.-Conn.
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