Refinery Catalyst Global Market Report 2024

The refinery catalyst market size has grown strongly in recent years. It will grow from $5.88 billion in 2023 to $6.19 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The expansion observed during the historical period can be attributed to the demand for petroleum-based products, a growing need for transportation fuel, and an increase in oil and gas exports.

The refinery catalyst market size is expected to see strong growth in the next few years. It will grow to $7.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period can be attributed to the demand for high-octane fuel, the expanding petrochemical industry, and the increasing global demand for energy. Key trends expected during the forecast period involve the introduction of hydro-processing catalyst solutions, a strategic emphasis on increased investments to develop new product solutions and meet the growing market demand for refinery catalysts, advancements in advanced fluid catalytic cracking (FCC) catalysts, a focus on strategic acquisitions and collaborations to enhance financial strength, fortify product portfolios, and broaden geographical presence, as well as a concentration on the application of hydroflex technology.

The anticipated surge in demand for transportation fuel is set to drive the growth of the refinery catalysts market in the foreseeable future. Transportation fuels, vital for powering vehicles with internal combustion engines, necessitate the use of refinery catalysts in petroleum refineries. These catalysts play a crucial role in converting crude oil into marketable products such as transportation fuels, engine fuels, and heating fuels. By enhancing chemical reactions, refinery catalysts reduce heavy metals and harmful organic compounds, resulting in cleaner end products suitable for use as transportation fuel. Notably, petroleum products accounted for approximately 90% of the total U.S. transportation sector energy use in 2021, with gasoline being the dominant transportation fuel, followed by distillate fuels such as diesel fuel and jet fuel. This heightened demand for transportation fuel is a driving force behind the growth of the refinery catalysts market.

The burgeoning petrochemical industry is expected to be a significant driver for the refinery catalyst market in the coming years. The petrochemical industry, involved in manufacturing chemicals from crude oil and natural gas, relies on refinery catalysts to produce essential petrochemical feedstocks such as naphtha, propylene, and reformate. As the demand for petrochemical products continues to rise globally, refinery catalysts play a crucial role in meeting this demand by enabling the production of key feedstocks. The International Energy Agency (IEA) predicts that petrochemicals will contribute significantly to the increase in oil consumption through 2030 and nearly half of the growth by 2050. This is due to the surging demand for petrochemical products, highlighting the pivotal role of refinery catalysts in supporting the growing petrochemical industry.

A noteworthy trend in the refinery catalyst market is the emphasis on product innovations by major industry players. Companies are actively engaged in developing new and innovative products to strengthen their market position. For example, BASF SE, a German chemical manufacturing company, introduced Fourtitude in March 2022 - a Fluid Catalytic Cracking (FCC) catalyst designed to maximize butylenes from resid feedstocks. Fourtitude employs multiple framework topology (MFT) technologies to deliver superior selectivity to butylenes while maintaining catalyst activity, resulting in increased propylene yields, gasoline octane, and improved coke selectivity.

The launch of hydro processing catalyst solutions is gaining prominence in the refinery catalyst market. These catalysts play a vital role in removing impurities and improving the quality of various petroleum products, including diesel fuel and jet fuel. Hydro processing catalysts facilitate chemical reactions in the presence of hydrogen gas to eliminate sulfur, nitrogen, and other contaminants, as well as saturate unsaturated hydrocarbons. For instance, in July 2023, Advanced Refining Technologies LLC introduced ENDEAVOR - a hydro processing catalyst solution designed to produce renewable diesel and sustainable aviation fuel from 100% renewable sources. The ENDEAVOR catalyst system includes EnRich guard and hydrotreating catalysts, along with Chevron's EnHance isomerization catalysts, specifically developed for processing renewable feeds to produce high-quality renewable fuels.

In September 2021, Standard Industries, a U.S.-based global industrial conglomerate, acquired W. R. Grace & Co. (Grace) for $70.00 per share in cash. This approximately $7.0 billion transaction, inclusive of Grace’s pending pharma-fine-chemistry acquisition, strengthened Standard Industries' position in the specialty chemicals industry. W. R. Grace & Co., a U.S.-based chemical company, boasts major businesses in refining, polyolefin, chemical catalysts, silica, and specialty chemicals. This strategic acquisition aligns with Standard Industries' commitment to enhancing its portfolio and market presence in the specialty chemicals sector.

Major companies operating in the refinery catalyst market report are Exxon Mobil Corporation, Royal Dutch Shell, China Petroleum & Chemical Corporation, BASF SE, Honeywell International,Chevron Corporation, W. R. Grace & Co, Albemarle Corporation, Arkema, Clariant International Ltd., Sinopec Catalyst Company, Tokuyama Corporation, Nippon Ketjen, S-Oil Catalyst, Qingdao Eno Chemicals, Hindustan Platinum, Dorf Ketal, AB Enterprises, Haldor Topsoe, Johnson Matthey, Axens, INEOS, Clal France, Zeochem AG, MOL Group, Evonik Industries AG, Metalor, Umicore, Heranius, NIS a.d. Novi Sad, OMV Group, Grupa LOTOS S.A, Rosneft, Unipetrol Group, Polimer Sp. z o.o, PolyComp s.r.o, RESINEX Czech Republic, Tecomelt s.r.o, CRI Catalyst Company, Unicat Catalyst Technologies, Grace Catalysts Technologies, INNOSPEC Limited, Fortuna Silver Mines Inc., Mottcorp.

Asia-Pacific was the largest region in the refinery catalyst market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refinery catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the refinery catalyst market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of refinery catalysts include FCC catalysts, hydrotreating catalysts, hydrocracking catalysts, catalytic reforming catalysts, and others. FCC catalysts are substances utilized to expedite the rate of a chemical reaction by reducing the activation energy in the petroleum industry. They play a crucial role in converting high-boiling point, high-molecular weight hydrocarbon fractions of petroleum (crude oils) into clearer petroleum end-products, such as light alkenes, high-octane gasoline, and aromatic middle distillates. These catalysts consist of major ingredients such as zeolites, metals, and chemical compounds, finding applications in diverse sectors such as oil refineries, chemical synthesis, polymer manufacturing, and others.

The refinery catalysts market research report is one of a series of new reports that provides refinery catalysts market statistics, including refinery catalysts industry global market size, regional shares, competitors with a refinery catalysts market share, detailed refinery catalysts market segments, market trends and opportunities, and any further data you may need to thrive in the refinery catalysts industry. This refinery catalysts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The refinery catalyst market consists of sales of renewable catalysts, naphtha catalysts, residue upgrade catalysts and FCC pretreats catalysts. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.