Refining Catalysts Market - Segmented by Type, Ingredient, and Geography - Growth, Trends, and Forecast (2019 - 2024)


MAR 2018

Refining Catalysts Market - Segmented by Type, Ingredient, and Geography - Growth, Trends, and Forecast (2019 - 2024)

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The global refining catalyst market was valued at USD 3,846.73 million in 2017. This market is expected to reach USD 4,598.19 million by 2023, at an estimated CAGR of 3.17% over the forecast period, 2018 to 2023. One of the major factors driving the growth of the market studied is the increasing investment in refineries. The accelerating demand for higher octane fuel in the market also attributed to the growth of the market. On the flipside, the volatility in precious metal prices are expected to hinder the market growth.

Increasing Investments in Refineries 

The market for refining catalysts has significantly benefitted from the increasing investments in oil refineries. Additionally, with the expansion plans of current refineries, the demand for refining catalysts is expected to increase during the forecast period, hence benefitting the market to a great extent. For instance, Indian Oil has set a budget of INR 1.8 trillion in order to expand its refineries and expand businesses over the next 5-7 years. This shall also be covering the expansion of their Panipat and Paradip refineries. Adding to it, Hindustan Petroleum Corporation (HPCL) has been negotiating on buying 49% stake in Russia's Vankor Cluster oil fields in the Arctic region. Recently, Saudi Aramco took 100% control of Port Arthur Refinery, which can process 600,000 barrels of oil per day, and is the largest refinery of North America. Additionally, Saudi Aramco held talks with Indian Oil to discuss its participation in a refinery in Maharashtra, with the capacity of 60 million metric ton a year. In December 2017, North Refineries Co., which is a subsidiary of Iraq’s Ministry of Oil, commissioned a 13,000 barrels per day crude distillation unit at its refinery in Kirkuk. This has lifted the overall processing capacity of the refinery to nearly 50,000 barrels per day. Such investments and acquisitions of refineries, along with the increasing demand of fuel, are expected to increase the demand for refining catalysts. Hence, these investments are a major driving force for the refining catalysts market.

Fluid Catalytic Cracking to Witness High Demand

The fluid catalytic cracking (FCC) process plays a crucial role in refineries while producing lighter products from crude oil. FCC unit helps in converting a variety of feed types, such as cracked gas oil, gas oil, deasphalted gas oils, vacuum/atmospheric resins and others, into lighter and high value products, such as diesel oil, jet fuel, LPG, kerosene and gasoline. Today, there are more than 500 FCC units in the world. Around 35% of the total gasoline and 50% of the total transportation fuel is produced through FCC processing. In the FCC unit, feedstock is heated at a high temperature & moderate pressure. Along with this, the feedstock is brought in contact with catalyst which helps to break the long-chain molecules of the high-boiling hydrocarbon liquids into small molecules, which are further collected in the form of vapors. The modern FCC catalyst contains four major components, which includes zeolite, matrix, filler and binder. The types of zeolite used in FCC unit includes Type X, Type Y, and ZSM-5. The X zeolite has lower thermal & hydrothermal stability and lower silica-alumina ratio than the Y zeolite. Today’s catalysts mostly contains Y zeolite, whereas some of the old FCC zeolite catalysts contains X zeolites. Whereas, ZSM-5 are majorly used for the production of olefin and octane, as it helps in increasing the olefin and octane yields.

Asia-Pacific to Dominate the Market

Asia-Pacific region dominated the global market share in 2017. China is one of the top catalyst consumers with high growth rates. China's refinery capacity is about 14177 thousand barrels per day which constitutes 14.6% of the world’s refining capacity.  Oil and gas sector in China is dominated by four national and provincial oil companies which includes PetroChina, Sinopec, China National Offshore Oil Corporation (CNOOC), and Yanchang Petroleum. PetroChina, accounts for 31% of total crude oil refining capacity and Sinopec accounts for 45% of total crude oil refining capacity in the country. Additionally, one of the top oil refiners in India, Indian Oil Corp. Ltd has announced to invest INR 1.8 trillion along with the expansion of Barauni and Gujarat refineries in order to expand refining capacity in the country in coming 5 years. Furthermore, Rotary Engineering Ltd., Singapore has signed a contract with Emirates National Oil Co. (ENOC) of Dubai which amounts USD 1 billion. Rotary Engineering will make 12 storage tanks refinery which will store increased production of jet fuel, naphtha, and gasoline blend stocks. Such investment are expected to boost the market for refining catalysts in the region during the forecast period.

Notable Developments

  • Nov 2017: A dissolution agreement has been signed between Evonik India Pvt Ltd, and Ravindra Heraeus Pvt Limited to end the partnership for contract manufacturing of precious metal catalysts and refining of spent catalysts from 31 March 2018.

The major players include – Haldor Topsoe, Honeywell, Johnson Matthey, Evonik Industries, Albemarle, BASF SE, Exxon Mobil Corporation, and W.R. Grace & Co, among others.

Refining catalysts Market Report Summary




Refining catalysts Market

Study Period

(2016 – 2023)

Key Developments

A dissolution agreement has been signed between Evonik India Pvt Ltd, and Ravindra Heraeus Pvt Limited to end the partnership for contract manufacturing of precious metal catalysts and refining of spent catalysts from 31 March 2018.

Regions Covered

Asia-Pacific, North America, South America, Europe, and Middle East & Africa

Companies Covered

Haldor Topsoe, Honeywell, Johnson Matthey, Evonik Industries, Exxon Mobil Corporation, Albemarle, BASF SE, and W.R. Grace & Co, among others

Report Coverage

Revenue forecast, major players, market share analysis, latest trends, and market dynamics

Reason to Purchase this Report

  • To understand the impact of various ingredient types on the market
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Country that is 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

Customization of the Report

  • This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs

1. Introduction

                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 Five Forces 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 Drivers

                                4.1.1 Increasing Investment in Refineries

                                4.1.2 Accelerating Demand for Higher Octane Fuel

                4.2 Restraints

                                4.2.1 Volatility in Precious Metal Prices

                4.3 Opportunities

                                4.3.1 Shifting Focus toward Nanocatalysts

                                4.3.2 Upcoming Investments and Capacity Additions in OPEC Countries

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

                                5.2.1 Zeolites

                                5.2.2 Metals

                                5.2.3 Chemical Compounds

6. Regional Market Analysis (Market size, Growth, and Forecast)

                6.1 Asia-Pacific

                                6.1.1 China

                                6.1.2 India

                                6.1.3 Japan

                                6.1.4 South Korea

                                6.1.5 ASEAN Countries

                                6.1.6 Rest of Asia-Pacific

                6.2 North America

                                6.2.1 United States

                                6.2.2 Canada

                                6.2.3 Mexico

                6.3 Europe

                                6.3.1 Germany

                                6.3.2 United Kingdom

                                6.3.3 Italy

                                6.3.4 Russia Federation

                                6.3.5 France

                                6.3.6 Spain

                                6.3.7 Rest of Europe

                6.4 South America

                                6.4.1 Brazil

                                6.4.2 Argentina

                                6.4.3 Rest of South America

                6.5 Middle East & Africa

                                6.5.1 Saudi Arabia

                                6.5.2 Nigeria

                                6.5.3 Qatar

                                6.5.4 Kuwait

                                6.5.5 UAE

                                6.5.6 Rest of Middle East & Africa

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, Recent Developments)

                8.1 Albemarle Corporation

                8.2 Axens

                8.3 BASF SE

                8.4 Chevron Corporation

                8.5 Clariant AG

                8.6 CRI/Criterion Inc.

                8.7 DuPont

                8.8 Evonik Industries

                8.9 Exxon Mobil Corporation

                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

9. Disclaimer

**Subject to availability on public domain

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