Refining Catalysts Market Analysis

Global Refining Catalyst Market Overview

Refining Catalyst Market Size was valued at USD 04 Billion in 2022. The Refining Catalyst industry is projected to grow from USD 4.3 Billion in 2023 to USD 07 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2030). The increasing rate of refinery production to get additional petroleum products such as gasoline, high-octane fuel, kerosene, diesel, and polymers are the key market drivers enhancing market growth.

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

Refining Catalyst Market Trends

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  Increased investment in refineries to boost market growth

  
  

Increased investment in refineries is one of the key factors driving the growth of the refining catalysts market. Refining catalysts are widely used in the refining process to improve the efficiency and quality of fuels, reduce the environmental impact of refining, and maximize yield. With the increasing demand for energy and stricter environmental regulations, refineries are investing heavily in upgrading and expanding their infrastructure, which is driving the demand for refining catalysts. Additionally, the growing use of unconventional sources of crude oil, such as shale oil and tar sands, is also fueling the demand for refining catalysts, as these sources require specialized catalysts for efficient processing.

The global demand for petroleum products continues to increase, which has led to a rise in the number of refineries being built and expanded around the world. This has, in turn, driving the demand for refining catalysts. Additionally, stricter environmental regulations have been introduced in many countries, which has further increased the demand for refining catalysts that can help reduce emissions and improve the sustainability of refining operations. Moreover, technological advancements in refining catalysts have enabled refineries to produce high-quality fuel products at lower costs. This has further increased the demand for refining catalysts as refineries seek to improve their efficiency and competitiveness. Therefore, such factors related to Refining Catalysts have enhanced the Refining Catalyst market CAGR across the globe in recent years.

Refining Catalyst Market Segment Insights

Refining Catalyst Type Insights

The  Refining Catalyst Market segmentation, based on type, includes FCC Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, and Catalytic Reforming Catalysts. The FCC Catalysts segment held the majority share 2022 of the  Refining Catalyst Market revenue. FCC catalysts are the most widely used and held the majority share of the global refining catalysts market. FCC catalysts are used to convert heavy hydrocarbons into lighter, more valuable products such as gasoline, diesel, and other fuels. The demand for FCC catalysts is driven by the increasing consumption of gasoline and diesel fuels globally, particularly in developing countries.

Refining Catalyst Ingredients Insights

Based on ingredients, the  Refining Catalyst Market segmentation includes Zeolites, Metals, and Chemical Compounds. The Zeolites segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. Zeolites are the most widely used and dominant ingredient in refining catalysts. Zeolites are crystalline materials with a porous structure that can selectively adsorb and desorb molecules, making them ideal for use in refining catalysts. Zeolite-based catalysts are commonly used in FCC, hydrocracking, and catalytic reforming processes. These all factors for Refining Catalyst positively impact the market growth.

Figure 2:  Refining Catalyst Market, by Type, 2022 & 2030 (USD Billion)

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

Refining Catalyst Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific is the largest refining catalyst market in the world. This can be attributed to several factors, including the growing demand for petroleum products in the region, the increasing number of refineries being built and expanded in countries such as China and India, and the implementation of stricter environmental regulations in the region. China and India are among the largest consumers of petroleum products globally. The growing demand for gasoline and diesel fuels in these countries is driving the demand for refining catalysts to increase the efficiency of the refining process and to produce higher-quality fuels. Additionally, many countries in the Asia Pacific, including China and India, are implementing stricter environmental regulations that limit the amount of sulfur and other pollutants in transportation fuels. This is driving the demand for refining catalysts, particularly hydrotreating catalysts, which can remove impurities from crude oil and other feedstocks to produce cleaner-burning fuels.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil

Figure 3:  REFINING CATALYST MARKET SHARE BY REGION 2022 (%)

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

Europe’s Refining Catalyst market accounts for the third-largest market share. Europe is home to several refineries, and many of them are located in countries such as Germany, France, Italy, and Spain. The presence of these refineries creates a significant demand for refining catalysts, which contributes to Europe's market share in the industry. European countries have some of the strictest environmental regulations in the world, and refineries must comply with these regulations to operate. Refining catalysts can help refineries meet these regulations by reducing emissions and improving efficiency. Therefore, the demand for refining catalysts in Europe is driven by the need to comply with environmental regulations.  Europe is a densely populated region with high levels of economic activity, resulting in high demand for refined products such as gasoline, diesel, and jet fuel. Refining catalysts are essential in improving the efficiency of the refining process, increasing the yield of refined products, and meeting the demand for these products. Further, the Germany Refining Catalyst market held the largest market share, and the UK Refining Catalyst market was the fastest-growing market in the European region.

North America, Refining Catalyst market, is expected to grow at the fastest CAGR from 2023 to 2030. North America is home to several refineries, and many of them are located in the United States. The presence of these refineries creates a significant demand for refining catalysts, which contributes to North America's market share in the industry. The refining industry in North America is highly advanced and employs sophisticated technologies to enhance the efficiency of the refining process. Refining catalysts play a crucial role in these advanced technologies, and their use contributes to the growth of the refining catalyst market in North America. North America has experienced a significant increase in the production of shale gas in recent years. The abundance of shale gas has led to a surge in demand for refined products such as gasoline and diesel, creating a need for more efficient refining processes that use refining catalysts. Moreover, the U.S. Refining Catalyst market held the largest market share, and the Canada Refining Catalyst market was the fastest-growing market in the North American region.

Refining 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 Refining 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 Refining 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 Refining 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 global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Refining Catalyst industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Refining Catalyst industry to benefit customers and expand the market sector. Major Refining Catalyst market players, including Albemarle Corporation. W. R. Grace & Co., Haldor Topsoe A/S, Honeywell, Uop Llc., Criterion Catalysts & Technologies L.P, Axens Sa, BASF SE, China Petroleum & Chemical Corporation, Clariant International Ltd, and Johnson Matthey Plc, and others, are attempting to increase market demand by funding R&D initiatives.

Albemarle Corporation is a global specialty chemicals company headquartered in Charlotte, North Carolina, United States. Albemarle operates in three business segments, Lithium: This segment produces lithium compounds that are used in batteries for electric vehicles and energy storage applications. Bromine Specialties: This segment produces bromine and bromine-based products that are used in flame retardants, oil and gas drilling, and water purification. Catalysts: This segment produces catalysts that are used in various refining processes to improve efficiency and reduce emissions.

Honeywell International Inc. is a diversified technology and manufacturing company based in Charlotte, North Carolina, United States. Honeywell operates in four main business segments Aerospace: This segment produces advanced systems and components for commercial and military aircraft, as well as space vehicles and equipment. Building Technologies: This segment provides technologies and services for commercial buildings, including heating, ventilation, and air conditioning (HVAC) systems, security systems, and energy management systems. Performance Materials and Technologies: This segment produces materials and technologies for various industries, including petrochemicals, refining, and renewable energy. Safety and Productivity Solutions: This segment provides products and services to improve worker safety and productivity, including personal protective equipment, gas detection instruments, and mobile computing devices.

Evonik introduced Octamax, a novel catalyst product that is extremely sustainable and enhances the efficacy of sulfur removal for refinery fuel, in 2024. The method uses specially chosen NiMo and CoMo catalysts that have been improved and regenerated under ideal circumstances for use in cracked gasoline hydrodesulfurization (HDS) units. In order to satisfy the needs of the current gasoline pool, Evonik's economical solution boosts the removal of sulfur and enhances the retention of octane level, expanding the business line's sustainable catalyst offers for refinery applications.

The launch of W. R. Grace & Co.'s PARAGONTM FCC catalyst, which combines a unique Vanadium (V) trap based on rare earth elements into high matrix surface area catalyst solutions for the FCC unit, is scheduled for 2023. Refiners may process a variety of feedstocks more profitably by expanding their FCC operating window and increasing their flexibility with PARAGON technology. Significantly, this method improves conversion at constant coke yield and maximizes bottoms upgrading of feedstocks, enabling refiners to produce fuels in a more sustainable way. The PARAGON catalyst expands on Grace's MIDAS® catalyst platform's metal tolerance and is the outcome of a multi-year research and development initiative aimed at creating an enhanced Vanadium trap.

Verdium, a novel method of processing recycled metal based on mass balance, was introduced in 2023 by BASF Environmental Catalyst and Metal Solutions (ECMS). Recycled platinum group metals (PGMs), according to ECMS, are vital minerals used in catalysts and are necessary for the supply of platinum, palladium, and rhodium.

Key Companies in the Refining Catalyst market include

• Albemarle Corporation


• R. Grace & Co.


• Haldor Topsoe A/S


• Honeywell


• Uop Llc.


• Criterion Catalysts & Technologies L.P


• Axens Sa


• BASF SE


• China Petroleum & Chemical Corporation


• Clariant International Ltd


• Johnson Matthey Plc among others

Refining Catalyst Industry Developments

February 2021. Albemarle Corporation made official that it has signed a definitive agreement through which it will sell its Fine Chemistry Services business for over upto $570 million to W.R. Grace & Co., consisting of $300 million in liquid and the issuance by W.R. Grace & Co. of preferred equity to Albemarle.

In February 2021, Axens was chosen by Numaligarh Refinery Limited (NRL), a subsidiary company owned by Bharat Petroleum Corporation Limited, as an innovative technology supplier for gasoline block at Numaligarh Refinery Expansion Project (NREP). The move aims at growing refinery’s capacity up to nine thousand KT per annum.

March 2023 witnessed Evonik Catalysts enlarging its manufacturing firms for activated catalysts, which are marketed under the KALCAT® and Metalyst® brands at Hanau, Europe-based factories.

March 2024, Clariant plus Lummus Technology signed a pact with Huizhou Boeko Materials Co. Ltd. to supply their dehydration of isobutane new plant in Huizhou City, China, using CATOFIN catalyst and process technology.

In January 2024, Johnson Matthey revealed that it invested $40 million in the area of fluid catalyst cracking additives so as to boost its breakthrough properties and solidify its position within this industry.

Refining Catalyst Market Segmentation

Refining Catalyst Type Outlook

• FCC Catalysts


• Hydrotreating Catalysts


• Hydrocracking Catalysts


• Catalytic Reforming Catalysts

Refining Catalyst Ingredients Outlook

• Zeolites


• Metals


• Chemical Compounds

Refining 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