The key raw materials used in the manufacturing of refinery catalysts are metals, zeolites and chemical compounds. Hydroprocessing catalysts are used to create cleaner fuels and possess highest growth rate among refinery catalysts. Fluid catalytic cracking catalysts’ market is growing towards maturity and losing its market share which is gained by other segments of the market.
New York, NY -- (SBWIRE) -- 01/25/2016 -- Refinery catalysts are used by petroleum refineries in the cracking process. Global refinery catalyst market is mainly driven by the increasing demand for cleaner petroleum products. Based on type, the refinery catalyst can be categorized into seven segments namely Hydroprocessing Catalysts, Fluid Catalytic Cracking Catalysts, Alkylation Catalysts, Hydrogen Manufacturing Catalysts, Hydrodesulphurization Catalysts, Isomerization Catalysts and Others.
The key raw materials used in the manufacturing of refinery catalysts are metals, zeolites and chemical compounds. Hydroprocessing catalysts are used to create cleaner fuels and possess highest growth rate among refinery catalysts. Fluid catalytic cracking catalysts' market is growing towards maturity and losing its market share which is gained by other segments of the market.
Asia Pacific, Latin America and Middle East are witnessing high growth in the refinery catalyst market due to increasing use of petroleum products. The increasing demand for gasoline and ultra low sulfur diesel has been boosting the market for refinery catalysts. The increasing use of petroleum feedstocks in the industries such as ethylene, propylene and butadiene in North America are creating growth opportunities for the refinery catalysts market. The refinery catalyst manufacturers are increasingly producing more challenging feedstock compositions despite unstable fuel prices. Tightening environmental regulations and increasing demand for diesel are supporting the growth of Hydroprocessing catalysts.
However, the European refiners have been reducing their production capacities due to weak economic condition in the region. According to International Energy Agency, oil consumption in China grew by 1.6% as compared to 2012, which was slowest since 1992, however it is expected to increase in the coming years.
Request to view TOC: http://www.persistencemarketresearch.com/toc/3414
North America dominated the refinery catalysts market in 2013 followed by Asia Pacific. U.S. and China were the key markets in these regions. The refinery catalysts companies are investing heavily on their research and development as this industry is developing at a fast pace in terms of technology due to changing demands of the refineries. The key companies in the refinery catalysts market are Albemarle Corporation, Air Products and Chemicals, Arkema Group, BASF SE, Chevron, Clariant International Limited, Eka Chemicals AB, Exxon Mobil Corporation, Evonic Industries AG, E.I. du Pont de Nemours & Company, INEOS Group Limited, Johnson Matthey PLC, UOP LLC, Zeolyst International Inc. and W.R. Grace & Company.
Request Brochure: http://www.persistencemarketresearch.com/samples/3414
Key points covered in the report:
Report segments the market on the basis of types, application, products, technology, etc (as applicable)
The report covers geographic segmentation
The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
The report provides company profiles of some of the leading companies operating in the market
The report also provides porters five forces analysis of the market.
About Persistence Market Research
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
PMR stands committed to bringing more accuracy and speed to clients' business decisions. From ready-to-purchase market research reports to customized research solutions, PMR's engagement models are highly flexible without compromising on its deep-seated research values.