Increasing Investments in Refineries Boosting the Market
The market for refining catalysts has significantly benefitted from the increasing investments in oil refineries. For instance, Indian Oil has set a budget of INR 1.8 trillion to expand its refineries and expand businesses over the next 5-7 years. Petrol Corp, one of the leading Asian oil companies, invested USD 3.5 billion to expand its refinery in Malaysia by 2020. This expansion is estimated to add 90,000 barrels per day in its operations in Malaysia. Such investments and acquisitions of refineries, along with the increasing demand for fuel, are expected to increase the demand for refining catalysts.
Hydrocracking Catalysts to Grow Rapidly
Hydrocracking catalysts are expected to grow rapidly at a CAGR of 3.56% during the forecast period (2018 - 2023). Hydrocracker units play a key role in obtaining various distillate cuts. The heavy feed or residue from units such as atmospheric/ vacuum distillation units, decoking unit, visbreaker unit, and sometimes from the catalytic cracking unit is fed as feed to the hydrocracking unit. Hydrocracker unit upgrades the feed injected by cracking the feed at high temperatures in the presence of hydrogen and the catalyst to produce distillate cuts, such as jet fuel, diesel, and kerosene. Hydrocracking process also reduces the sulfur content of the feed while processing, thus, making the product viable to use in different countries. Increasing demand for jet fuel and diesel in the aerospace market and automotive market is likely to boost the demand for hydrocracking catalysts at a significant rate during the forecast period.
China the Largest Consumer of Refining Catalysts Market
China, estimated to be the largest market for refinery catalysts, accounted for approximately 44% in terms of revenue in the Asia-Pacific market, in 2017. There was a positive growth from the automotive industry in 2017, with a 3.2% rise in the automotive production over 2016, along with the growing investments for refineries has contributed to the growth of the refinery catalyst market in the country.
Notable Developments in the Market
November 2017: BASF introduces Fortres NXT FCC catalyst to help refiners increase the liquid product yields with heavy resid feeds.
October 2017: W. R. Grace & Co. increased the price of its Fluid Catalytic Cracking (FCC) catalysts by 3 – 9%, depending on product type and specific customer contract terms as well as commitments, effective from January 1, 2018.
Major Players: Albemarle, BASF SE, Honeywell, and Sinopec, among others.
Reason to Purchase this Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To understand the dominating product type and end-user industry in the market
- To identify the countries that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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1.1 Scope of the Report
1.2 Research Phases
1.3 Study Deliverables
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s 5 Force Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Increasing Investment in Refineries
4.2.1 Volatility in Precious Metal Prices
4.3.1 Shifting Focus toward Nanocatalysts
5. Market Segmentation and Analysis - (Market size, Growth and forecast)
5.1 By Type
5.1.1 Fluid Catalytic Cracking Catalysts
5.1.2 Reforming Catalysts
5.1.3 Hydrotreating Catalysts
5.1.4 Hydrocracking Catalysts
5.1.5 Isomerization Catalysts
5.1.6 Alkylation Catalysts
5.2 By Ingredient
5.2.3 Chemical Compounds
6. Regional Market Analysis (Market size, Growth and forecast)
6.4 South Korea
6.5 ASEAN Countries
6.6 Rest of Asia-Pacific
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & services, and Recent Developments )
8.1 Albemarle Corporation
8.3 BASF SE
8.4 Chevron Corporation
8.5 Clariant AG
8.6 CRI/Criterion Inc.
8.8 Evonik Industries
8.9 ExxonMobil Chemical
8.10 Haldor Topsoe
8.11 Honeywell International Inc.
8.12 JGC C & C
8.13 Johnson Matthey
8.14 Sinopec (China Petroleum & Chemical Corporation)
8.15 W.R. Grace & Co.
*List not exhaustive
**Subject to availability on public domain
- Albemarle Corporation
- Chevron Corporation
- Clariant AG
- CRI/Criterion Inc.
- Evonik Industries
- ExxonMobil Chemical
- Haldor Topsoe
- Honeywell International Inc.
- JGC C & C
- Johnson Matthey
- Sinopec (China Petroleum & Chemical Corporation)
- W.R. Grace & Co