The Middle East & African refining catalysts market is estimated at USD 518.79 million in 2018 and is projected to reach USD 598.21 million by 2023, growing at a CAGR of 2.89% during the forecast period, 2018 to 2023, majorly driven by the increasing investments in refineries. Refining catalysts accelerate the rate of a chemical reaction without undergoing any permanent chemical change. They are primarily used by petroleum refineries to improve the output quantity by enhancing the operational efficiency during the petroleum refining process. These catalysts play a vital role in sufficing the fuel standards, emission standards, and improving selectivity and conversion.
Increasing Investments in Refineries Driving the Market
The market for refining catalysts has significantly benefitted from the increasing investments in oil refineries. For instance, in December 2017, North Refineries Co., 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 for fuel, are expected to increase the demand for refining catalysts.
Fluid Catalytic Cracking Catalysts the Dominating Type
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, de-asphalted gas oils, vacuum/atmospheric resins, and others, into lighter and high-value products, such as diesel oil, jet fuel, LPG, kerosene, and gasoline. Currently, 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.
Saudi Arabia Dominating the Refining Catalysts Market
Saudi Arabia is planning to raise the crude oil production capacity beyond the current ceiling of 12.5 million barrels per day, to cope with the growing domestic demand, thus driving the refining catalysts market. In addition, many companies are planning to expand their businesses in various countries, thus driving the refining catalyst market. In May 2017, Saudi Arabian state-owned oil giant Aramco took on 100% ownership of the Port Arthur refinery in Texas, which is North America’s largest oil refinery, cementing its access to the lucrative US energy market. Due to various government policies in oil refinery sector along with company acquisitions, the Saudi Arabian refining catalyst market is expected to grow significantly during the forecast period
Notable Developments
- October 2017: W. R. Grace & Co. will increase the price of its Fluid Catalytic Cracking (FCC) catalysts by 3-9% , depending on product type and specific customer contract terms and commitments, effective January 1, 2018.
- May 2017: Saudi Arabian Oil Co. (Saudi Aramco) has agreed to build a refinery and petrochemical plant in China. This project is expected to begin operations in the first quarter of 2019.
Major Players: Albemarle, BASF, Honeywell, and Evonik, among others.
Reason to Purchase the Report
- To understand the impact of various product type on the market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To understand the dominating product type and ingredient in the market
- Countries 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)
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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 Force 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 Accelerating Demand For Higher Octane Fuels
4.1.2 Increasing Investments in Refineries
4.2 Restraints
4.2.1 Volatility in Precious Metal Prices
4.3 Opportunities
4.3.1 Shifting Focus Towards Nanocatalysts
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 Saudi Arabia
6.2 Kuwait
6.3 Qatar
6.4 Nigeria
6.5 UAE
6.6 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, and 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 AG
8.9 Exxon Mobil Chemical
8.10 Haldor Topsoe
8.11 Honeywell International Inc.
8.12 JGC C & C
8.13 Johnson Matthey
8.14 Saudi Aramco
8.15 W.R. Grace & Co.
*List not exhaustive
9. Disclaimer
**Subject to availability on public domain
