Refinery Catalyst Market Outlook
Up from the 2022 valuation of around US$10.2 Bn, the global refinery catalyst market is poised to attain revenue worth US$15 Bn by 2030-end. The report tracks the growth outlook with close examination of all the major growth indiactors.
Market Analysis in Brief
One of the biggest opportunities for the refinery catalyst industry lies in the increased refinery capacity. Since the previous few years, there has been a steady increase in demand for fuels, particularly cleaner fuels. Therefore, expanding the capabilities of already existing refineries and building new petroleum refineries in high-demand regions could further propel the refinery catalyst market. The global transition towards biofuel/green fuel is anticipated to reduce demand for goods derived from fossil fuels, which will directly influence the use of refinery catalysts because the less refined products that are consumed, the less catalyst is used in the refinery.
Key Report Findings
- Toward the end of forecast year 2030, the refinery catalyst market size will reach US$15 Bn
- Rising costs, and supply chain disruptions continue to account for the market slowdown
- The COVID-19 pandemic held a direct impact on the refinery industry and in 2020 alone, it faced a whopping loss of around 6 million barrels/day due to lower demand
- FCC unit remains leading category, zeolite consumption significant, whereas Asia Pacific spearheads with 1/3rd share of market value
- Between 2023 and 2030, the refinery catalyst industry is slated to display stable growth at 4.8% CAGR
Growth Drivers
Energy Security Concerns Around Transportation Fuel
Over 700 oil refineries are now in operation worldwide. These refineries are not dispersed uniformly throughout the world, though. Refineries vary in terms of the kinds of technology they use to process oil (refinery complexity), the installed and used capacity for doing so, and more recently, the technological capability for producing highly purified oil products and highly treated refinery pollutants.
As they greatly speed up the reaction rate, refinery catalysts are commonly employed in petroleum refining processes to eliminate or reduce the number of contaminants like nitrogen, and sulphur from crude oil. Refinery catalyst demand has increased recently due to increasingly strict fuel economy rules across the globe. According to estimates, the need for refinery catalysts would rise significantly throughout the forecast period, in turn boosting the growth of the refinery catalyst market.
Notable Refinery Expansion, and Stringent Emission Regulations
The increased demand for cleaner fuels and significant expansions in refining capacity are projected to be the driving forces behind the growth of the petroleum refining market. The market for refinery catalysts is projected to benefit from the processing of heavier feedstock in refineries. Over the next few years, significant capacity expansions are anticipated.
The need for refining catalysts to produce sweet fuel is anticipated to rise as environmental regulations for high-speed diesel and petrol become more stringent. Less sulphur or other contaminants are present in processed oil when it is sweeter, which contributes to its low environmental impact. As more diesel and petrol will be needed, an annual increase in car sales is projected to increase the demand, thereby fostering the refinery catalyst market expansion.
Refiners are forced to boost their production capacities because of the expanding vehicle fleet, which leads to the highest possible gasoline sales. During the forecasting period, the tendency is anticipated to persist. As a result, refineries may generate a lot of fuel and adhere to national standards like BS-IV as well as international standards like Euro-6. The current output of refineries is predicted to increase with an increase in sales or exports to nations with high fuel demand.
Overview of Key Segments
FCC Unit Remains the Key Refinery Unit for Catalyst Consumption
In terms of refinery type, the global refinery catalyst market has been segregated as fluid catalytic cracking (FCC), hydrocracking, H-oil unit, catalytic reforming, alkylation, and hydrotreating. The hydrotreating segment is further divided into naphtha, and distillate. In 2022, the FCC segment dominated the market and constituted 44.3% share by value. It is one of the major refining processes in the petroleum refining industry and is responsible for the production of gasoline.
The demand for refinery catalysts, primarily in FCC, is estimated to increase rapidly in refineries due to the rising demand for high octane gasoline across the globe. In terms of revenue, the FCC refining unit segment is projected to expand at a CAGR of 5.1% between 2023 and 2030.
Hydrocracking units are highly driven by diesel production. Increasing consumption of diesel is one of the major factors driving the demand for hydrocracking catalysts. New hydrocracking projects are expected to commence in Middle East and Africa in the years to come. This is likely to create immense market opportunities for the refinery catalyst market in the next few years.
Zeolites Consumption Likely to Grow at a Higher Pace
In terms of catalyst type, the global refinery catalyst market has been segregated as zeolites, molybdenum, cobalt, nickel, and others. In 2022, the nickel segment dominated the market and constituted 28.4% share by value. About 31% of the total nickel produced in the US was employed in the refinery catalysts industry in 2021. The nickel segment is estimated to expand at a significant CAGR during the forecast period.
In terms of revenue, molybdenum is estimated to be a rapidly growing segment of the refinery catalyst market owing to its wide range of applications. Approximately 17% of the total molybdenum produced is consumed by refineries, while other go in different applications.
FCC operations account for almost 95% of the total zeolite consumption. Zeolites was a highly attractive segment of the refinery catalyst market in 2022. In terms of volume, it is estimated to expand at a CAGR of 4.1% during the forecast period.
Growth Opportunities Across Regions
Asia Pacific Will Maintain Dominance Through 2030
North America, and Asia Pacific are expected to be the major consumers of refinery catalysts in line with the rising demand for fuels with low levels of impurities. In 2022, Asia Pacific dominated the global refinery catalyst market, constituting 33% share of the market valuation. The market for hydrocracking and distillate hydrotreating catalysts in Asia Pacific is anticipated to increase in the light of the regulatory limits on diesel in rapidly developing nations like China, and India.
Several catalytic cracking units were added by several refineries in Asia Pacific between 2015 and 2020. China currently accounts for more than 65% of the world's total zeolites production. In recent years, numerous reforming units have been founded in Malaysia, Singapore, and Japan. Meeting the increasing domestic demand for fuels is the main driving force behind these expansions. Additionally, the refinery catalyst market in Asia Pacific is anticipated to grow following the region's strong demand for cleaner diesel, and mounting auto sales.
Vehicles that comply with the Euro-6 standards are actively manufactured in developed North American nations including the US, and Canada. The region's need for refinery catalysts would certainly expand in the next years because of the expansion in shale gas production in North America.
Russia-centric Developments Pick Pace in Europe
In Europe, the recent Russia-Ukraine unrest has resulted in dramatically lowered supply of crude oil from Russia to the other European nations. This has impacted the demand for refinery catalysts. Various refining projects are being implemented in Russia to meet the rising demand for refinery catalysts. Also, due to strict environmental restrictions and an increase in the demand for biofuels in European nations, refining products are underutilised in Europe compared to other countries. Throughout the projection period, this tendency is probably going to persist.
Several refineries based in Europe had to shut down due to the drop in demand for diesel, and petrol. The shifting trend toward biofuels and renewables is expected to cause the total refinery catalyst market in Europe to observe a gradual pace. To address the increased demand for refinery catalysts in Europe, several refining projects are being set up in Russia. According to estimates, the sulphur content of Russia’s fuels will drop down to 50 ppm during the next five years, giving the nation a prospective market for refinery catalysts in Europe.
Global Refinery Catalyst Market: Competitive Landscape
A proprietary technology is required to develop refinery catalysts, which is why the top manufacturers in the global refinery catalyst market continue to pose threat to new aspirant entrants. Some of the key players in the refinery catalyst market include W. R. Grace & Co.-Conn, Albemarle Corporation, BASF SE, Chevron Corporation, Exxon Mobil Corporation, Honeywell International Inc., Haldor Topsoe A/S, Johnson Matthey, Royal Dutch Shell plc, and China Petrochemical Corporation.
Recent Notable Developments
- In April 2023, Grace announced expansion of its presence in China by signing a new license with PetroChina Guangxi Petrochemical Company (PetroChina Guangxi) to develop 400 kilotons per annum (KTA) single reactor line using its UNIPOL® PP technology. The commencement is anticipated in 2026
- In June 2023, Haldor Topsoe announced its plan to build a 15,000-tpy hydroprocessing catalyst plant at the company's existing Bayport production site in Pasadena, Harris County, US
The Global Refinery Catalyst Market is Segmented as Below:
By Refinery Unit Type Coverage
- Fluid Catalytic Cracking
- Hydrocracking
- H-oil Unit
- Catalytic Reforming
- Alkylation
- Hydrotreating
- Naphtha
- Distillate
By Catalyst Type Coverage
- Zeolites
- Molybdenum
- Cobalt
- Nickel
- Others
By Geographical Coverage
- North America
- U.S.
- Canada
- Europe
- Germany
- Italy
- The Netherlands
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Rest of Asia Pacific
- Rest of the World (RoW)
- Brazil
- Mexico
- Iran
- Kuwait
- Saudi Arabia
- Others
Leading Companies
- Albemarle Corporation
- Haldor Topsoe A/S
- Chevron Lummus Global
- R. Grace & Co.-Conn
- BASF
- Johnson Matthey Plc.
- Axen
- Honeywell International Inc.
- Advanced Refining Technologies LLC (ART)
- Sinopec Corporation
- Royal Dutch Shell plc
Inside This Report You Will Find:
1. Executive Summary
2. Market Overview
3. Price Trends Analysis
4. Global Refinery Catalyst Market Outlook, 2019 - 2030
5. North America Refinery Catalyst Market Outlook, 2019 - 2030
6. Europe Refinery Catalyst Market Outlook, 2019 - 2030
7. Asia Pacific Refinery Catalyst Market Outlook, 2019 - 2030
8. Rest of the World (RoW) Refinery Catalyst Market Outlook, 2019 - 2030
9. Competitive Landscape
10. Appendix
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1. Executive Summary
1.1. Global Refinery Catalyst Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.2.4. Economic Trends
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact
2.5.1. Supply Chain
2.5.2. End-user Industry Customer Impact Analysis
3. Price Trends Analysis
4. Global Refinery Catalyst Market Outlook, 2019 - 2030
4.1. Global Refinery Catalyst Market Outlook, by Refinery Unit, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
4.1.1. Key Highlights
4.1.1.1. Fluid Catalytic Cracking
4.1.1.2. Hydrocracking
4.1.1.3. H-oil Unit
4.1.1.4. Catalytic Reforming
4.1.1.5. Alkylation
4.1.1.6. Hydrotreating
4.1.1.6.1. Naphtha
4.1.1.6.2. Distillate
4.1.2. BPS Analysis/Market Attractiveness Analysis, by Refinery Unit
4.2. Global Refinery Catalyst Market Outlook, by Catalyst, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
4.2.1. Key Highlights
4.2.1.1. Zeolites
4.2.1.2. Molybdenum
4.2.1.3. Cobalt
4.2.1.4. Nickel
4.2.1.5. Others
4.2.2. BPS Analysis/Market Attractiveness Analysis, by Catalyst
4.3. Global Refinery Catalyst Market Outlook, by Region, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
4.3.1. Key Highlights
4.3.1.1. North America
4.3.1.2. Europe
4.3.1.3. Asia Pacific
4.3.1.4. Rest of the World (RoW)
4.3.2. BPS Analysis/Market Attractiveness Analysis, by Region
5. North America Refinery Catalyst Market Outlook, 2019 - 2030
5.1. North America Refinery Catalyst Market Outlook, by Refinery Unit, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
5.1.1. Key Highlights
5.1.1.1. Fluid Catalytic Cracking
5.1.1.2. Hydrocracking
5.1.1.3. H-oil Unit
5.1.1.4. Catalytic Reforming
5.1.1.5. Alkylation
5.1.1.6. Hydrotreating
5.1.1.6.1. Naphtha
5.1.1.6.2. Distillate
5.2. North America Refinery Catalyst Market Outlook, by Catalyst, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
5.2.1. Key Highlights
5.2.1.1. Zeolites
5.2.1.2. Molybdenum
5.2.1.3. Cobalt
5.2.1.4. Nickel
5.2.1.5. Others
5.3. North America Refinery Catalyst Market Outlook, by Country, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
5.3.1. Key Highlights
5.3.1.1. U.S. Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
5.3.1.2. Canada Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
6. Europe Refinery Catalyst Market Outlook, 2019 - 2030
6.1. Europe Refinery Catalyst Market Outlook, by Refinery Unit, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
6.1.1. Key Highlights
6.1.1.1. Fluid Catalytic Cracking
6.1.1.2. Hydrocracking
6.1.1.3. H-oil Unit
6.1.1.4. Catalytic Reforming
6.1.1.5. Alkylation
6.1.1.6. Hydrotreating
6.1.1.6.1. Naphtha
6.1.1.6.2. Distillate
6.2. Europe Refinery Catalyst Market Outlook, by Catalyst, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
6.2.1. Key Highlights
6.2.1.1. Zeolites
6.2.1.2. Molybdenum
6.2.1.3. Cobalt
6.2.1.4. Nickel
6.2.1.5. Others
6.3. Europe Refinery Catalyst Market Outlook, by Country, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
6.3.1. Key Highlights
6.3.1.1. Germany Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
6.3.1.2. Italy Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
6.3.1.3. The Netherlands Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
6.3.1.4. Spain Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
6.3.1.5. Russia & CIS Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
6.3.1.6. Rest of Europe Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
7. Asia Pacific Refinery Catalyst Market Outlook, 2019 - 2030
7.1. Asia Pacific Refinery Catalyst Market Outlook, by Refinery Unit, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
7.1.1. Key Highlights
7.1.1.1. Fluid Catalytic Cracking
7.1.1.2. Hydrocracking
7.1.1.3. H-oil Unit
7.1.1.4. Catalytic Reforming
7.1.1.5. Alkylation
7.1.1.6. Hydrotreating
7.1.1.6.1. Naphtha
7.1.1.6.2. Distillate
7.2. Asia Pacific Refinery Catalyst Market Outlook, by Catalyst, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
7.2.1. Key Highlights
7.2.1.1. Zeolites
7.2.1.2. Molybdenum
7.2.1.3. Cobalt
7.2.1.4. Nickel
7.2.1.5. Others
7.3. Asia Pacific Refinery Catalyst Market Outlook, by Country, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
7.3.1. Key Highlights
7.3.1.1. China Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
7.3.1.2. India Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
7.3.1.3. Japan Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
7.3.1.4. South Korea Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
7.3.1.5. Indonesia Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
7.3.1.6. Rest of Asia Pacific Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
8. Rest of the World (RoW) Refinery Catalyst Market Outlook, 2019 - 2030
8.1. Rest of the World (RoW) Refinery Catalyst Market Outlook, by Refinery Unit, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
8.1.1. Key Highlights
8.1.1.1. Fluid Catalytic Cracking
8.1.1.2. Hydrocracking
8.1.1.3. H-oil Unit
8.1.1.4. Catalytic Reforming
8.1.1.5. Alkylation
8.1.1.6. Hydrotreating
8.1.1.6.1. Naphtha
8.1.1.6.2. Distillate
8.2. Rest of the World (RoW) Refinery Catalyst Market Outlook, by Catalyst, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
8.2.1. Key Highlights
8.2.1.1. Zeolites
8.2.1.2. Molybdenum
8.2.1.3. Cobalt
8.2.1.4. Nickel
8.2.1.5. Others
8.3. Rest of the World (RoW) Refinery Catalyst Market Outlook, by Country, Value (US$ Mn) & Volume (Kilo Tons), 2019 - 2030
8.3.1. Key Highlights
8.3.1.1. Brazil Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
8.3.1.2. Mexico Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
8.3.1.3. Iran Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
8.3.1.4. Kuwait Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
8.3.1.5. Saudi Arabia Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
8.3.1.6. Others Refinery Catalyst Market, Value (US$ Mn) & Volume (Kilo Tons), by Refinery Unit, Catalyst, End-user Industry, 2019 - 2030
9. Competitive Landscape
9.1. Company Market Share Analysis, 2022
9.2. Strategic Collaborations
9.3. Company Profiles
9.3.1. Albemarle Corporation
9.3.1.1. Company Overview
9.3.1.2. Product Portfolio
9.3.1.3. Financial Overview
9.3.1.4. Business Strategies and Development
9.3.2. Haldor Topsoe A/S
9.3.2.1. Company Overview
9.3.2.2. Product Portfolio
9.3.2.3. Financial Overview
9.3.2.4. Business Strategies and Development
9.3.3. Chevron Lummus Global
9.3.3.1. Company Overview
9.3.3.2. Product Portfolio
9.3.3.3. Financial Overview
9.3.3.4. Business Strategies and Development
9.3.4. W. R. Grace & Co.-Conn
9.3.4.1. Company Overview
9.3.4.2. Product Portfolio
9.3.4.3. Financial Overview
9.3.4.4. Business Strategies and Development
9.3.5. BASF
9.3.5.1. Company Overview
9.3.5.2. Product Portfolio
9.3.5.3. Financial Overview
9.3.5.4. Business Strategies and Development
9.3.6. Johnson Matthey Plc.
9.3.6.1. Company Overview
9.3.6.2. Product Portfolio
9.3.6.3. Financial Overview
9.3.6.4. Business Strategies and Development
9.3.7. Axen
9.3.7.1. Company Overview
9.3.7.2. Product Portfolio
9.3.7.3. Financial Overview
9.3.7.4. Business Strategies and Development
9.3.8. Honeywell International Inc.
9.3.8.1. Company Overview
9.3.8.2. Product Portfolio
9.3.8.3. Financial Overview
9.3.8.4. Business Strategies and Development
9.3.9. Advanced Refining Technologies LLC (ART)
9.3.9.1. Company Overview
9.3.9.2. Product Portfolio
9.3.9.3. Financial Overview
9.3.9.4. Business Strategies and Development
9.3.10. Sinopec Corporation
9.3.10.1. Company Overview
9.3.10.2. Product Portfolio
9.3.10.3. Financial Overview
9.3.10.4. Business Strategies and Development
9.3.11. Royal Dutch Shell
9.3.11.1. Company Overview
9.3.11.2. Product Portfolio
9.3.11.3. Financial Overview
9.3.11.4. Business Strategies and Development
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations
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BASE YEAR |
HISTORICAL DATA |
FORECAST PERIOD |
UNITS |
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2022 |
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2019 - 2022 |
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2023 - 2030 |
Value: US$ Million Volume: Kilo Tons |
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REPORT FEATURES |
DETAILS |
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Refinery Unit Type Coverage |
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Catalyst Type Coverage |
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Geographical Coverage |
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Leading Companies |
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Report Highlights |
Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, Historical Trend (2019-2021), Price Trend Analysis, Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain) |
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