In a recent published report, Kenneth Research has updated the market report for Refinery Catalyst Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Refinery Catalyst Market products.
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By Product (Hydrotreating Catalysts, Hydrocracking Catalyst, FCC Catalysts, Catalytic Reforming Catalysts), Ingredient (Chemical Compounds, Zeolites, Metals) and Region (North America, Asia Pacific, Europe, Latin America, Rest of the World) Market Size, Status and Forecast to 2025
The global refinery catalyst market was valued at USD 6.81 billion in 2017 and is projected to reach USD 8.69 billion by 2025, growing at a CAGR of 7.8% from 2017 to 2025.
Refinery catalysts belongs to the class of chemical compounds that improve the process of catalytic cracking. Catalytic cracking is a process employed in the oil & gas industry. The market is expected to witness significant growth owing to rise in number of refineries and capacity additions in Asia Pacific.
1. Market Drivers
1.1 Higher demand for refined petroleum products
1.2 Increase in refinery capacity across Asia Pacific and the Middle East
1.3 Upgradation of existing low NCI refineries
2. Market Restraints
2.1 High cost of usage of polymeric adsorbents
The global refinery catalyst market is segmented on the basis of product, ingredient, and region.
1. Global Refinery Catalyst Market, by Product:
1.1 Fluid Catalytic Cracking Catalysts
1.2 Hydroprocessing Catalysts
1.2.1 Hydrotreating Catalysts
1.2.2 Hydrocracking Catalysts
1.3 Catalytic Reforming Catalysts
1.4.1 Alkylation Catalysts
1.4.2 Isomerization Catalysts
2. Global Refinery Catalyst Market, by Ingredient:
2.1.1 Natural Zeolites
2.1.2 Synthetic Zeolite
2.2.1 Precious Metals
2.3 Rare Earth Elements
2.3.1 Transition & Base Metals
2.4 Chemical Compounds
2.4.1 Sulfuric Acid & Hydrofluoric Acid
2.4.2 Calcium Carbonate
3. Global Refinery Catalyst Market, by Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Albemarle Corporation
2. W.R. Grace & Co.
3. Haldor Topsoe A/S
4. Honeywell UoP LLC
5. Criterion Catalysts & Technologies LP
6. Axens SA
7. Sinopec Corp
8. Clariant International Ltd.
9. Johnson Matthey PLC
10. Arkema Group
11. Exxon Mobil Corporation
12. KNT Group
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Refinery Catalyst Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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