San Francisco, 29 April 2030: The Report Refinery Catalyst Market Size, Share & Trends Analysis Report By Product (Zeolites, Metallic, Chemical Compounds), By Application (FCC, Alkylation, Hydrocracking), By Region, And Segment Forecasts, 2023 - 2030

The global refinery catalyst market size is expected to reach USD 10.01 billion by 2030, expanding at 5.0% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing demand for petroleum products is the major factor driving the market. The refinery catalysts alter the rate of chemical reactions in the FCC unit, thereby, speeding up the chemical reaction. This reduces the turnaround time of the manufacturing process. Refinery catalysts chemicals are used in a wide variety of operations for carrying out refining activities.

Among the different raw materials used in the production of refinery catalysts, zeolites have emerged as major sources of raw material. Zeolites are amino silicates composed of frameworks of silicon, oxygen, and aluminum in the form of SiO4 and AlO4. A number of them occur naturally and hence are procured via mining as minerals. However, synthetic zeolites are also produced commercially.

Refinery catalysts are widely utilized in refining processes such as fluid catalytic cracking, alkylation, and hydrotreating. The role of an accelerator in the FCC process is to aid the breakage of heavy molecules at a high temperature and under moderate pressure so that they can be separated from a mixture and collected as a vapor. The separated products are purified and treated for application in multiple end-use industries.

The key market players are introducing customized solutions for different regions based on individual regulatory trends, fuel quality, and driving conditions to reach out to a broader customer base. The European Union (EU) plans to cut down carbon dioxide emissions by 2020, and hence, is encouraging major companies to introduce innovative biocatalysts.

The market is expected to grow on account of the increasing demand for transportation fuel globally. Stringent regulations coupled with increasing demand for petroleum and petroleum-derived products/chemicals are likely to steer market growth. Refinery catalysts are used in the petroleum refining industry to enhance the operational efficiency of petroleum. In addition, the increasing demand for high-octane fuel, particularly in countries such as U.S., Japan, Germany, U.K., and India due to stringent regulations is expected to positively influence the growth of the market for refinery catalysts. Furthermore, the shift towards renewable energy sources has prompted oil refineries to optimize their operations and improve their efficiency, leading to an increased demand for advanced refinery catalysts. The market is also expected to benefit from the growing adoption of new and advanced technologies in the refining industry, which require specialized catalysts to ensure optimal performance.

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Refinery catalysts are widely used to counter issues such as metal contamination and heat balance effect in tight oil processing. Increasing tight oil production in the U.S., Russia, China, and Argentina is expected to drive market growth over the forecast period. Stringent government regulations including those related to Ultra-low Sulfur Diesel (ULSD) and strict emission standards in mature economies are anticipated to remain the major factors steering demand for refinery catalysts in the petroleum refining sector. The availability of alternative fuels such as biofuel coupled with the adoption of “Go Green” campaigns and environmental policies by several nations is expected to restrain the growth of the market for refinery catalysts.

Different types of materials used in the manufacturing of refinery catalysts include zeolites, chemical compounds, and metals. These materials when used in different compositions or in combination with other chemicals help manufacturers produce fluid catalytic cracking refinery catalysts, alkylation refinery catalysts, hydrotreating refinery catalysts, and hydrocracking refinery catalysts.

Global manufacturers of refinery catalysts are highly focused on designing catalysts that can handle all kinds of feedstock and ensure stable, reliable, easy, and profitable hydrotreating and hydrocracking applications. For the same, the adoption of superior process designs, proprietary equipment, and innovation of performance refinery catalysts has helped the manufacturers gain a competitive edge over the others. Further, a combination of technical expertise and sustainable approaches to production is increasingly being adopted by manufacturers.

The global catalyst market has witnessed a significant growth rate over the past few years owing to the benefits it has received from high-value product segments. For instance, the application of catalysts in an automobile reduces carbon emissions that are harmful to the environment and, thus, their application is highly promoted by governments globally. Favorable government regulations, in turn, have increased the demand for catalysts in the automotive industry across regions.

The global demand for transportation fuel is likely to drive growth in the refinery catalysts industry. Stringent fuel norms and standards coupled with increasing consumption of petroleum derivatives are expected to steer the market growth. Government rules governing ultra-low sulfur diesel (ULSD) and severe emission standards in developed markets are expected to continue to drive catalyst demand in the petroleum refining industry. Furthermore, rising demand for high-octane fuel, particularly in major cities in the U.S., Japan, Germany, the U.K., and India, is likely to boost market growth.