Refinery Catalyst Market Size

Global Refinery Catalyst Market Overview

The Refinery Catalyst Market Size was valued at USD 0.77 Billion in 2023. The Refinery Catalyst industry is projected to grow from USD 0.79 Billion in 2024 to USD 1.0 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.90% during the forecast period (2024 - 2032). Refinery catalysts are chemical ingredients used during the refining process to remove unwanted impurities such as nitrogen, metal contamination, and sulfur. These catalysts include zeolites, calcium carbonate, molybdenum, palladium, and zirconium, which are used independently or in different combinations to improve the operating effectiveness of petroleum. The growing refinery rate to obtain more petroleum products such as gasoline, high-octane fuel, kerosene, diesel, polymers, and others is driving the demand for the catalyst for refining. The rising demand for fuel for transportation applications is expected to boost the growth of the market.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Refinery Catalyst Market Trends

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  Increasing Demand for High Octane Fuel to Aid Market Growth.

  
  

Growing demand for high-octane fuel from the automotive industry due to consumer need for lower cost of fuel is driving the market. Automobile manufacturers are introducing efficient engine technologies, which in turn is creating demand for higher octane fuels. Moreover, the potential environmental, economic, and engine benefits of high octane are also additional benefits. Ethanol is a high-octane fuel with a blending octane rating of 114, making ethanol the cleanest and most affordable fuel source. Moreover, the increasing consumption of petroleum derivatives for making various consumer-needs products is also a major factor driving this market. 

Additionally, the rising investment in research & development, technologies, and capacity expansion in the refinery industry creates opportunities for refinery catalysts. Leading manufacturers in the market are focusing on adopting new technologies, propriety designs, and equipment up-gradation for these catalysts while improving margins. Companies are improving the catalytic properties of their products to ensure stability and reliability. This will help them to produce high-quality fuel at a reduced cost. Moreover, the growing demand for the refinery to produce petroleum products and derivatives such as plastics, petroleum wax, naphthalene, paraffin wax, and refined asphalt is driving the growth of the market.

Refinery Catalyst Market Segment Insights

Refinery Catalyst Type Insights

The Refinery Catalyst market segmentation, based on Type, includes Zeolite, metallic, and chemical compounds.  Zeolites are hydrated aluminosilicate minerals having water molecules trapped in between. The majority of zeolites produced are used for the FCC catalysis process for refinery applications due to high-pressure resistance, high-temperature resistance, and high melting points. They are used to produce gasoline, diesel, and petroleum-derived products, and the growing demand for these products is driving an affirmative outlook for market growth. 

Refinery Catalyst Application Insights

Based on Application, the Refinery Catalyst market segmentation includes FCC, Alkylation, Hydrotreating, Hydrocracking, Catalytic Reforming, and Others. FCC (Fluid catalytic cracking) accounted for the largest share, where it is used for converting high-molecular weight hydrocarbon fractions in crude oil into a more convenient substance for use. The growth in the segment can be attributed to a higher rate of gasoline production and more byproduct gases to produce olefins, thus creating more economic value. The growing consumption of polyolefin to produce different types of plastics is driving the demand for FCC catalysts.

Figure 2:  Refinery Catalyst Market, by Type, 2023 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Refinery Catalyst Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The refinery catalyst market in the Asia Pacific stood at USD 1.52 billion in 2020. The growth in the region is due to economic development, high crude oil production, and refineries present. China is a major contributor to refining and accounted for 15.6% of the total oil refining capacity in 2018. India stood in second position with 4.97 million and had prime oil refining capacity in the Asia-Pacific region. The rising demand for transportation fuel is driving the market.

Figure 3:  REFINERY CATALYST MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

North America is expected to have substantial growth in the consumption of refinery catalysts during the estimated period. The high number of oil reserves and the increasing oil imports in the region support the market. The U.S. is the largest importer of crude oil, with a production rate of 15.3 million bpd and oil reserves of 61,200 million barrels. Moreover, the technological adoption of processes to reduce fuel costs is further expected to contribute to market growth.

Europe is anticipated to have growth associated with favorable regulations from the European Union and development to improve oil recovery and the promotion of biofuels. The initiative to provide sustainable solutions for fuels such as ethanol is creating refinery catalysts demand.

Refinery Catalyst Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Refinery Catalyst market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Refinery Catalyst industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Refinery Catalyst. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Refinery Catalyst industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Refinery Catalyst industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Refinery Catalyst market players, including Albemarle Corporation of the United States, R. Grace, and Co. of the United States, Haldar Topsoe A/S of Denmark, Honeywell, UoP LLC of the United States, and others, are attempting to increase market demand by funding R&D initiatives.

Albemarle is a developer, manufacturer, and marketer of highly engineered specialty chemicals. It operates through three segments: Lithium, Bromine, and Catalysts. The company offers lithium and lithium derivatives; bromine specialties for fire safety, oilfield drilling, pharmaceutical manufacturing, high-tech cleaning, water treatment, and food safety; and catalysts for hydroprocessing, isomerization, and alkylation, fluidized.

Also, Honeywell International is a software-industrial company that invents and commercializes technologies in energy, safety, security, productivity, and urbanization. It operates through four segments: Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The Aerospace segment supplies propulsion engines, environmental control systems, integrated avionics, electric

Clariant, a specialty chemical company focusing on sustainability, today announced the debut of CLARITY Prime, an advanced digital solution for syngas plants and an upgrade to its cloud-based service portal, CLARITY. Customers that subscribe to the premium services receive automated catalyst health alarms and machine-learning-based performance projecting tools, as well as sophisticated technical support to help Clariant catalysts run more efficiently.

Key Companies in the Refinery Catalyst market include

• Albemarle Corporation of United States,


• Grace, and Co. of the United States,


• Haldar Topsoe A/S of Denmark,


• Honeywell,


• UoP LLC of the United States,


• Criterion Catalyst, and Technologies L. P of the United States,


• Axens SA of France,


• BASF SE of Germany,


• China Petroleum and Chemical Corporation (Sinopec Corporation) of China,


• Clariant International ltd of Switzerland,


• Exon Mobil Corporation of the United States

Refinery Catalyst Industry Developments

November 2021, BASF unveiled plans to sell its kaolin clay operations in Georgia to minerals supplier KaMin. The company employs 440 people and generates approximately USD 175 million in annual sales of kaolin, which is used in ceramics, paper, and filler. BASF's refinery catalyst business, which is located alongside the kaolin operations, is not included in the transaction. BASF agreed to sell its electronic chemical business to Entegris for USD 90 million earlier this month. Additionally, BASF recently sold its joint venture with Platinum Equity, Solenis, for USD 5.25 billion.

In 2024, Evonik introduced Octamax, a highly sustainable new catalyst solution that enhances sulfur removal performance for refinery fuel. The technology consists of specially selected NiMo and CoMo catalysts that have been regenerated and strengthened under optimal circumstances for use in cracked gasoline hydrodesulfurization (HDS) units.

Refinery Catalyst Market Segmentation

Refinery Catalyst Type Outlook

• Zeolites


• Metallic


• Chemical Compounds

Refinery Catalyst Application Outlook

• FCC


• Alkylation


• Hydrotreating


• Hydrocracking


• Catalytic Reforming


• Others

Refinery Catalyst Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America