The Refinery Catalyst Global Market Report 2023, provides comprehensive information on the refinery catalyst market 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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The global refinery catalyst 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%.
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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 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
Asia-Pacific was the largest region in the refinery catalyst market in 2022.
The table of contents in TBRC’s refinery catalyst market report includes:
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