The Refinery Catalyst Global Market Report 2023 by The Business Research Company, provides refinery catalyst market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Refinery Catalyst Global Market Report 2023, the market size is expected to grow from$5.63 billion in 2022 to $5.93 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global refinery catalyst market size is expected to reach $7.08 billion in 2027 at a CAGR of 4.6%.
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
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The refinery catalyst market is segmented:
1) By Type: FCC Catalyst, Hydrotreating Catalyst, Hydrocracking Catalysts, Catalytic Reforming Catalyst, Other Types
2) By Ingredient: Zeolites, Metals, Chemical Compounds
3) By Applications: Oil Refineries, Chemical Synthesis, Polymer Manufacturing, Environmental Safety, Other Applications
Product innovations have emerged as a key trend gaining popularity in the refinery catalyst market. Major companies operating in the refinery catalyst market are focused on developing new innovative products to strengthen their position in the market. For instance, in March 2022, BASF SE, a Germany-based chemical manufacturing company, introduced Fourtitude™, a Fluid Catalytic Cracking (FCC) catalyst designed to maximize butylenes from resid feedstocks. Fourtitude™ works on multiple framework topology (MFT) technologies that are used to deliver superior selectivity to butylenes while maintaining catalyst activity, which enables increased propylene yields, gasoline octane, and improved coke selectivity.
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. Refinery Catalyst Market Size And Growth
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26. Africa Refinery Catalyst Market
27. Refinery Catalyst Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Refinery Catalyst Market
29. Refinery Catalyst Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Albemarle Corporation
- W. R. Grace and Company
- Axens group
- Haldor Topsoe Holding A/S
- BASF SE
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