Transparency Market Research Report Added "Refinery Catalysts Market" to its database.
Albany, NY -- (SBWIRE) -- 02/11/2015 -- Refinery catalysts are type of catalyst used to boost the refinery output. Global refinery catalyst market can be segmented based product types as fluid catalytic cracking, hydrocracking, alkylation, hydro treating. On the basis of ingredients used in the catalyst, the refinery catalyst market can be segmented into zeolites, metals and chemicals. Hydro treating is expected to be the largest product segment in terms of revenue and hydrocracking catalyst are expected to be the fastest growing product type due to increasing adoption of hydraulic fracturing among refinery companies. Zeolites are anticipated to be largest ingredient that is used as refinery catalyst and metals are expected to grow at moderate pace in the next few years.
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Increasingly stringent fuel and environmental regulations are expected to drive the market growth for refinery catalysts. Refinery catalyst helps the companies to meet fuel standards, enhance selectivity and conversion and to keep up with green energy trends. Furthermore soaring energy demand that have created complex challenges for refinery operators is anticipated to boost the market growth. Challenging feedstock composition is one of the major concerns for the refinery operators. Refinery catalysts help to break down the feedstock composition and product high quality product. Issues regarding processing of these feedstocks include, heat balance effects, contaminants and configurationally imbalances. Additionally, surging energy demand has put pressure on refinery operators. Energy demand is increasing at significant pace and refinery operators need to enhance their refinery throughput. Furthermore, rising consumption of petroleum based products due to its availability and low cost as compared to bio-based products is expected to further boost the demand. Regulations are enforcing the companies to maintain high octane products as they provide high calorific value. High octane number ensures the quality of product.
However, high production cost and reducing crude oil reserves is expected to hamper the market growth. Total production cost for refinery catalysts is high as compared to conventional catalyst. Furthermore, shift towards renewable energy sources is expected to hamper the market growth for refinery catalysts.
Backward integration of refinery catalyst manufacturers in order to reduce the total cost of ownership is expected to provide immense opportunities in the next few years. In addition, research and development of new high quality products with low production cost is anticipated to be an important opportunity for the players in the market.
North America was the largest market for refinery catalyst market in terms of consumption. Depleting crude reserves of refineries and shale gas exploration are the reasons behind the largest share of the region. North America is expected to grow at a moderate rate in the next few years. Asia Pacific is expected to show surge in the demand for refinery catalyst and Rest of the World is expected to be fastest growing region in the market. Adoption of stringent regulatory standards in high-growth economies of Middle East, Asia Pacific and Latin America is expected to drive the demand for refinery catalysts. In developed countries, processing of difficult feedstock and developing high value products is expected to fuel the market growth.
Global refinery catalysts market is highly consolidated with key playing occupying major share. Few companies are developing and offering new catalysts to accommodate additional refinery processes. Some companies are also enhancing services and licensing offering as a business strategy. Key players in the refinery catalysts market include BASF SE, Albemarle Corporation, Royal Dutch Shell plc, Honeywell International Inc., China Petroleum & Chemical Corporation, Clariant AG, Haldor Topsoe, W.R. Grace & Co. and Huntsman Corporation.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include:
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter?s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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