The global refinery catalyst market size is expected to reach USD 14.55 billion by 2032, according to a new study by Polaris Market Research. The report “Global Refinery Catalyst Market Share, Size, Trends, Industry Analysis Report, By Product (Chemical Compounds, Zeolites, Metallic, Others); By Application; By Product; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The Global Refinery catalysts are substances that are used in the refining process of crude oil to convert it into more valuable products such as gasoline, diesel, and jet fuel. These catalysts work by increasing the rate of chemical reactions that occur during the refining process, thus improving the efficiency of the process and reducing the energy required to produce the desired products.
The use of refinery catalysts is becoming increasingly important as the demand for cleaner and more efficient fuels continues to grow. These catalysts help to reduce the environmental impact of the petroleum refining industry by removing impurities and reducing the emissions of pollutants such as sulfur and nitrogen oxides.
There are several types of refinery catalysts that are used in the petroleum refining industry, including FCC (Fluid Catalytic Cracking) catalysts, hydrotreating catalysts, hydrocracking catalysts, and alkylation catalysts. Each of these catalysts has its own unique properties and is used in different stages of the refining process.
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The FCC catalysts segment is the largest segment of the refinery catalyst market and is widely used in the production of gasoline and other fuels. Hydrotreating catalysts are used to remove sulfur from crude oil and are essential in the production of low-sulfur fuels, which are increasingly required by environmental regulations. Hydrocracking catalysts are used to break down larger hydrocarbons into smaller ones, and alkylation catalysts are used to combine smaller hydrocarbons into larger ones.
The demand for refinery catalysts is driven by several factors, including the increasing demand for cleaner and more efficient fuels, the expansion of the petroleum refining industry in developing countries, and stricter environmental regulations. The constant development and improvement of refinery catalysts are also driving the growth of the market.
Global Refinery Catalyst Market Report Highlights
Polaris Market Research has segmented the Global Refinery Catalyst Market report based on Product, Application, and Region:
Global Refinery Catalyst Market, Product Outlook (Revenue, USD Billion, 2019-2032)
Global Refinery Catalyst Market, Application Outlook (Revenue, USD Billion, 2019-2032)
Global Refinery Catalyst Market, Regional Outlook (Revenue - USD Billion, 2019-2032)