Market Trends of South America Refining Catalysts Industry
This section covers the major market trends shaping the South America Refining Catalysts Market according to our research experts:
Fluid Catalytic Cracking (FCC) Catalysts to Dominate the Market
- 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.
- In the FCC unit, the feedstock is heated at high temperature and moderate pressure. Along with this, the feedstock is brought in contact with a 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.
- In the FCC process, the catalysts are used in the form of fine powders. Previously, catalysts, such as amorphous silica-alumina were used for cracking vacuum gas oils in the FCC unit. However, in the early 1960s, zeolite was commercially introduced as FCC catalysts, which had been a significant advancement in the history of catalytic cracking.
- Owing to the aforementioned factors, FCC catalysts are of great importance in propelling the market demand for refining catalysts in the forecast period.
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Brazil to Dominate the Market
- Brazil is the largest consumer of refining catalysts in the South American region. The country has total 17 oil refineries, out of which, Petrobras is managing 14 refineries.
- Despite the recession, domestic prices of gasoline and diesel in Brazil remained above global market prices. The refinery projects have been put on hold in the country, which, in turn, increases the imports of the petroleum products in the coming years. Therefore, it is expected to affect the refining catalyst market over the forecast period.
- Petrobras is planning for new partnerships, which will be help inject money into the refining sector. This, in turn, is expected to drive the refining catalyst market over the forecast period.
- Due to the above-mentioned factors, the market for refining catalysts in the country is projected to grow during the forecast period.
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