Refinery Process Chemical Market Research Report: By Type (Corrosion Inhibitors, Demulsifiers, Desulfurization Chemicals, Dispersants, Flocculants, Foaming Agents, Hydrogenation Catalysts, Odor Control Chemicals, Scale Inhibitors, Water Treatment Chemicals), By Application (Crude Oil Refining, Natural Gas Processing, Petrochemical Production, Biofuel Production), By End-Use Industry (Oil and Gas, Chemicals, Power Generation, Transportation), By Process (Atmospheric Distillation, Vacuum Distillation, Hydrocracking, Catalytic Reforming, Alkyl

Refinery Process Chemical Market Overview

As per MRFR analysis, the Refinery Process Chemical Market Size was estimated at 47.18 (USD Billion) in 2022. The Refinery Process Chemical Market Industry is expected to grow from 49.81(USD Billion) in 2023 to 81.1 (USD Billion) by 2032. The Refinery Process Chemical Market CAGR (growth rate) is expected to be around 5.57% during the forecast period (2024 - 2032).

Key Refinery Process Chemical Market Trends Highlighted

The global refinery process chemical market exhibits several indispensable market patterns.

Diverse marketing of crude oil is leading to increasing sales of refined petroleum products, as a result of population and industrial growth. The reducing costs cuts within refineries support more advanced refinery process chemicals. Additionally, there is an increasing demand for renewable energy, which provides a chance for development of bio-based refinery process chemicals.

Refinery products and the global product market also drives the improvements in the performance of refineries. However, there are prospects for further development of bio-based refinery process chemicals and new markets in developing countries. Recent trends include updating modern technologies and increasing environmental sustainability.

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

Refinery Process Chemical Market Drivers

Increasing Demand for Refined Petroleum Products

Refinery process chemicals play a critical role in the production of refined petroleum products, such as gasoline, diesel, and jet fuel. The growing demand for these products, driven by the increasing number of vehicles on the road and the expanding aviation industry, is a major factor driving the growth of the Global Refinery Process Chemical Market Industry. Refineries are constantly looking for ways to improve their efficiency and productivity, and process chemicals can help them achieve these goals.For example, certain chemicals can help to remove impurities from crude oil, which can lead to increased yields of refined products. Other chemicals can help to improve the quality of refined products, making them more resistant to wear and tear. As the demand for refined petroleum products continues to grow, so will the demand for refinery process chemicals. This is a major opportunity for companies that supply these chemicals, and they are well-positioned to benefit from the growth of the Global Refinery Process Chemical Market Industry.

Rising Environmental Regulations

One more factor that is influencing The Global Refinery Process Chemical Market Industry is rising environmental regulations. Today, many governments all over the world have become more stringent when it comes to the regulations concerning the emissions from refineries. These factors make refineries invest in new technologies and reclamations. Refinery process chemicals can play the role of one of the tools here. For instance, some chemicals can help remove sulfur dioxide from emissions.In this way, they make it easier for refineries to meet new environmental regulations. The demand for refinery process chemicals is expected to rise in the times when requirements become even more strict.

Technological Advancements

The Global Refinery Process Chemical Market Industry is also being driven by technological advancements. New technologies are being developed that can help refineries to improve their efficiency and productivity. For example, new catalysts are being developed that can help to increase the yield of refined products. Other technologies are being developed that can help to reduce the emissions from refineries. These technological advancements are creating new opportunities for companies that supply refinery process chemicals.Companies that can develop and market new technologies are well-positioned to benefit from the growth of the Global Refinery Process Chemical Market Industry.

Refinery Process Chemical Market Segment Insights:

Refinery Process Chemical Market Type Insights

The Global Refinery Process Chemical Market is segmented by Type into Corrosion Inhibitors, Demulsifiers, Desulfurization Chemicals, Dispersants, Flocculants, Foaming Agents, Hydrogenation Catalysts, Odor Control Chemicals, Scale Inhibitors, and Water Treatment Chemicals. Corrosion Inhibitors dominated the market with a revenue share of around 27% in 2023. These chemicals are used to prevent corrosion of metal surfaces in refineries, thereby extending the lifespan of equipment and reducing maintenance costs. The growing demand for corrosion inhibitors is primarily driven by the increasing adoption of stringent environmental regulations aimed at minimizing the impact of industrial activities on the environment.Demulsifiers, which accounted for a revenue share of approximately 22% in 2023, are gaining traction as they play a crucial role in separating water from crude oil during the refining process. The increasing production of heavy crude oil, which has a higher water content, is a key factor driving the demand for demulsifiers. Desulfurization Chemicals, with a revenue share of around 18% in 2023, are essential for removing sulfur compounds from petroleum products, particularly gasoline and diesel. The implementation of stringent emission regulations worldwide is propelling the growth of the desulfurization chemicals market.Dispersants, which held a revenue share of approximately 15% in 2023, are used to prevent the formation of sludge and deposits in refinery equipment. The increasing demand for dispersants can be attributed to the growing adoption of advanced refining processes, such as hydrocracking and catalytic reforming. Flocculants, accounting for a revenue share of around 10% in 2023, are employed to enhance the efficiency of solid-liquid separation processes in refineries. The growing emphasis on wastewater treatment and the need to meet environmental regulations are fueling the demand for flocculants.The remaining market share is attributed to Foaming Agents, Hydrogenation Catalysts, Odor Control Chemicals, Scale Inhibitors, and Water Treatment Chemicals. Each of these segments plays a specific role in the refining process, contributing to the overall efficiency and safety of operations. The Global Refinery Process Chemical Market is anticipated to witness steady growth in the coming years, driven by factors such as increasing refinery capacity, stringent environmental regulations, and technological advancements in the refining industry.

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

Refinery Process Chemical Market Application Insights

The Global Refinery Process Chemical Market is segmented, based on the application, into crude oil refining, natural gas processing, petrochemical production, and biofuel production. The crude oil refining segment is projected to be the largest segment of the market in 2023, with a value of USD 22.11 billion. The segment is expected to continue to be the largest segment of the market over the forecast period, owing to the increasing demand for refined petroleum products such as gasoline, diesel, and jet fuel. The natural gas processing segment is projected to be the second-largest segment, with a value of around USD 12.95 billion in 2023.The segment is expected to experience significant growth over the forecast period, driven by the increasing demand for natural gas for power generation and industrial applications. The petrochemical production segment is projected to be the third-largest segment, with a value of USD 9.72 billion in 2023. The segment is expected to grow at a healthy rate over the forecast period, due to the increasing demand for petrochemicals such as plastics, fertilizers, and synthetic fibers. The biofuel production segment is projected to be the smallest segment, with a value of USD 5.03 billion in 2023.The segment is expected to experience moderate growth over the forecast period, driven by the increasing demand for biofuels such as ethanol and biodiesel.

Refinery Process Chemical Market End-Use Industry Insights

The Global Refinery Process Chemical Market segmentation by End-Use Industry comprises Oil and Gas, Chemicals, Power Generation, and Transportation. The Oil and Gas segment held the largest share of the market in 2023, accounting for around 45% of the Global Refinery Process Chemical Market revenue. This dominance is attributed to the extensive use of process chemicals in oil and gas exploration, production, and refining processes. The Chemicals segment is projected to witness significant growth over the forecast period due to the rising demand for process chemicals in the manufacturing of various chemical products, including plastics, fertilizers, and pharmaceuticals.The Power Generation segment is expected to contribute a substantial share to the Global Refinery Process Chemical Market, primarily driven by the increasing demand for electricity and the need for efficient power generation processes. The Transportation segment is anticipated to exhibit steady growth, supported by the growing automotive industry and the demand for fuel additives and lubricants.

Refinery Process Chemical Market Process Insights

The Process segment is a crucial part of the Global Refinery Process Chemical Market, encompassing various processes used in oil refining. Atmospheric Distillation, with a revenue of USD 12.34 billion in 2023, is widely employed to separate crude oil into distinct fractions based on their boiling points. Vacuum Distillation further refines these fractions under reduced pressure, generating products like gas oil and vacuum gas oil. Hydrocracking, with a projected revenue of USD 10.87 billion by 2024, involves the addition of hydrogen to break down heavier hydrocarbons into lighter, more valuable products like gasoline and diesel.Catalytic Reforming, estimated to reach USD 8.96 billion in 2024, utilizes a catalyst to convert low-octane naphtha into high-octane gasoline. Alkylation combines olefins with isobutane to produce alkylate, a high-octane gasoline blending component, with a projected revenue of USD 5.67 billion in 2024. Polymerization, with an estimated revenue of USD 4.56 billion in 2024, converts olefins into polymers used in plastics and synthetic rubber production.

Refinery Process Chemical Market Regional Insights

The Global Refinery Process Chemical Market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. This is attributed to the region's strong refining industry and stringent environmental regulations. Europe is expected to witness steady growth over the forecast period due to the increasing demand for cleaner fuels. APAC is expected to be the fastest-growing regional market over the forecast period due to the rising demand for refined products and the growing refining capacity in the region.South America and MEA are expected to witness moderate growth over the forecast period due to the increasing demand for refined products in these regions.

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

Refinery Process Chemical Market Key Players and Competitive Insights:

Major players in the Refinery Process Chemical Market industry are focusing on expanding their global presence and enhancing their product portfolio to cater to the evolving demands of the refining industry. Strategic collaborations, acquisitions, and joint ventures are prevalent in the market as companies seek to gain a competitive edge. Leading Refinery Process Chemical Market players are investing heavily in research and development to introduce innovative solutions that address the challenges faced by refineries in improving efficiency, reducing emissions, and meeting stringent environmental regulations. The competitive landscape is characterized by a mix of established industry leaders and emerging players, with each vying for market share through product differentiation, technological advancements, and customer-centric approaches.A leading player in the Refinery Process Chemical Market, Baker Hughes, is known for its comprehensive range of chemical solutions designed to optimize refinery operations. The company's portfolio includes corrosion inhibitors, scale inhibitors, demulsifiers, and specialty chemicals that enhance the efficiency and reliability of refining processes. Baker Hughes has a strong global presence, with operations in over 120 countries, and is continuously investing in research and development to introduce innovative products and technologies. Through strategic partnerships and alliances, the company aims to expand its reach and provide tailored solutions to meet the specific requirements of refineries worldwide.Another prominent player in the Refinery Process Chemical Market is Ecolab, which offers a wide spectrum of process chemicals and services to the refining industry. The company's solutions focus on improving water and energy efficiency, reducing emissions, and enhancing equipment reliability. Ecolab's comprehensive portfolio includes cooling water treatment, boiler water treatment, and waste treatment chemicals, among others. With a global network of technical experts and a commitment to sustainable practices, Ecolab collaborates with refineries to optimize their operations and achieve environmental compliance. The company's focus on innovation and customer-centricity has enabled it to maintain a strong position in the competitive Refinery Process Chemical Market.

Key Companies in the Refinery Process Chemical Market Include:

• NETZSCH Grinding Dispersing


• Nalco Champion


• Lanxess


• Lubrizol


• Oxygen Chemicals


• Covion


• SNF


• Unichem Industries


• Evonik


• BASF


• Innospec


• Ecolab


• Solenis


• Huntsman Corporation


• IEDA International Research Development

Refinery Process Chemical Market Industry Developments

The global refinery process chemical market is projected to reach USD 81.1 billion by 2032, exhibiting a CAGR of 5.57% during the forecast period (2024-2032). Rising demand for refined petroleum products, coupled with increasing refinery capacities, is driving market growth. Stringent environmental regulations and the need to enhance refining efficiency are further fueling demand for refinery process chemicals.Recent news developments include the expansion of production facilities by major players such as BASF and Clariant. Strategic partnerships between chemical suppliers and refineries are also becoming more prevalent to optimize supply chain efficiency. Furthermore, the development of eco-friendly and sustainable refinery process chemicals is gaining traction, driven by the need to reduce environmental impact.

Refinery Process Chemical Market Segmentation Insights

Refinery Process Chemical Market Type Outlook

• Corrosion Inhibitors


• Demulsifiers


• Desulfurization Chemicals


• Dispersants


• Flocculants


• Foaming Agents


• Hydrogenation Catalysts


• Odor Control Chemicals


• Scale Inhibitors


• Water Treatment Chemicals

Refinery Process Chemical Market Application Outlook

• Crude Oil Refining


• Natural Gas Processing


• Petrochemical Production


• Biofuel Production

Refinery Process Chemical Market End-Use Industry Outlook

• Oil and Gas


• Chemicals


• Power Generation


• Transportation

Refinery Process Chemical Market Process Outlook

• Atmospheric Distillation


• Vacuum Distillation


• Hydrocracking


• Catalytic Reforming


• Alkylation


• Polymerization

Refinery Process Chemical Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa