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

Overview and Scope

Fluid catalytic cracking (FCC) is a type of processing unit used in oil refineries to produce additional gasoline while the refining process is being carried out. It is a chemical process that splits long-chain hydrocarbons into shorter-chain hydrocarbons by using a catalyst and heat. Fluid catalytic cracking (FCC) catalyst increases the rate of chemical reaction, which lowers the activation energy in the petroleum refining process.

Sizing and Forecast

The fcc catalyst market size has grown strongly in recent years. It will grow from $2.75 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to growth in global refining capacity, global shift towards heavy crude processing, focus on yield improvement, increasing demand for petrochemicals, globalization of refining operations, focus on energy efficiency..

The fcc catalyst market size is expected to see strong growth in the next few years. It will grow to $3.61 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing complexity in feedstocks, transition to sustainable catalysts, focus on residue upgrading, optimization for propylene production, market penetration in developing regions.. Major trends in the forecast period include integration of artificial intelligence, enhanced catalyst regeneration technologies, collaboration for research and development, digitalization and process optimization, adoption of bottom-of-the-barrel technologies..

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Segmentation & Regional Insights

The fcc catalyst market covered in this report is segmented –

1) By Product: Gasoline Sulfur Reduction, Maximum Bottoms Conversion, Maximum Light Olefins, Maximum Middle Distillates, Other Products
2) By Application: Residue, Vacuum Gas Oil, Other Applications
3) By End-User: Refinery, Environmental, Other End-Users

Asia-Pacific was the largest region in the FCC catalyst market in 2023. The regions covered in the fcc catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The growing demand for petroleum-based products is contributing to the growth of FCC catalysts going forward. Petroleum products refer to the complex mixture derived from crude oil, which has similar physical and chemical properties. Fluid catalytic cracking (FCC) catalyst increases the rate of the chemical reaction, which lowers the activation energy in the petroleum refining process. In these processes, FCC catalyst solutions are used to transform high-boiling, high-molecular-weight hydrocarbon fractions of petroleum crude oils into valuable petroleum products, including olefinic gases, gasoline, and other items. For instance, in November 2021, according to the US Energy Information Administration, a US-based Department of Energy statistical agency, the United States produced over 11.8 million barrels per day of crude oil. Therefore, the growing demand for petroleum-based products is driving the growth of the FCC catalyst market.

Key Industry Players

Major companies operating in the FCC catalyst market are increasing their focus on introducing advanced catalyst technologies, such as PARAGON FCC Catalyst Technology, to gain a competitive edge in the market. PARAGON FCC Catalyst Technology is an advanced and innovative solution for fluid catalytic cracking that enhances the efficiency and performance of the refining process in the oil and gas sector. For instance, in October 2023, W. R. Grace and Co., a US-based chemical company, launched the PARAGON FCC Catalyst Technology for More Sustainably Produced Fuels. This technology is designed to help FCC (fluid catalytic cracking) operators produce higher yields of fuel per unit of CO2 emissions from the FCC unit. The PARAGON technology allows refiners to expand their FCC operating range, increase flexibility in processing a range of feedstocks for higher profitability, and achieve maximum bottom-up upgrading of feedstocks with improved conversion at a constant coke yield, enabling them to produce fuels more sustainably.

The fcc catalyst market report table of contents includes:

1. Executive Summary

2. FCC Catalyst Market Characteristics

3. FCC Catalyst Market Trends And Strategies

4. FCC Catalyst Market – Macro Economic Scenario

5. Global FCC Catalyst Market Size and Growth
….

31. Global FCC Catalyst Market Competitive Benchmarking

32. Global FCC Catalyst Market Competitive Dashboard

33. Key Mergers And Acquisitions In The FCC Catalyst Market

34. FCC Catalyst Market Future Outlook and Potential Analysis

 

35. Appendix

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