Sustained production of crude oil & gas to fuel refinery catalyst market size.
Sellbyville, DE -- (SBWIRE) -- 05/22/2020 -- Global refinery catalyst market size is projected to surpass $5.5 billion by the year 2025. Eminent market players include Albemarle, Haldor Topsoe, BASF, Axens, Honeywell UOP, Royal Dutch Shell and W. R. Grace & Co, Clariant. The production of refinery catalysts mostly involves prominent use of unique earth metals like tungsten, vanadium and molybdenum among various others.
These companies are majorly focusing on the research and development activities and also lay heavier emphasis on the enhancement and the advancement of the productivity of the refineries, while considering any strict regulations pertaining to the environment.
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Refinery catalyst market share, on the basis of materials, have been subdivided into zeolite, chemical compound, metal and others. The chemical compound segment has been anticipated to grow at the rate of more than 2% by the year 2025 in terms of revenue. Various chemical compounds are widely used in alkylation processes such as hydrofluoric acid, sulfuric acid that are suitably used in alkylation processes.
Several European countries have a significant number of petrochemical companies and refineries that contribute to the global oil and petroleum products along with its derivatives. The Europe refinery catalyst market share shall control over 20% of the global revenue size in the forthcoming years.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
3. Albemarle Corporation
5. China Petroleum
6. Criterion Catalysts & Technologies
7. Anten Chemical Co., Ltd.
8. Filtra Catalysts & Chemicals Ltd.
9. Haldor Topsoe A/S
11. W. R. Grace & Co.
13. Johnson Matthey
The Middle East & Africa region has one of the biggest oil markets in the world with 64 refineries and a barrel capacity in millions. Widespread production of crude and oil gas will result in MEA refinery catalyst market share registering an increase of more than 4% up to 2025.
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Rise in the number of oil rigs to speed up the production of refined petroleum products shall foster refinery catalyst market trends over the coming years. Major revival of the global oil & gas sector will be playing a prominent role in the driving of the product market. The global count for oil rig had fallen from 3,570 in 2014 to about 1,969 in 2015 and it further dropped to approximately 1,772 by 2016 end.
Refinery catalysts are essentially used in several processes which also include reforming, catalytic cracking, isomerization, and desulfurization, among others. The product is extremely useful in helping refiners to manage the fuel standards and meet the operational efficiency without having to hinder the environment.
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