According to a research report titled ‘Refinery Catalyst Market Size By Type (Fluid Catalytic Cracking, Hydroprocessing [Hydrotreating, Hydrocracking], Alkylation, Reforming & Isomerization), By Material (Zeolite, Metal, Chemical Compound), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available with MarketStudyReport, refinery catalyst market is anticipated to amass USD 5.5 billion by the year 2025.
 

Surging number of oil & gas rigs leading to increase in refined petroleum products which will boost the refinery catalyst market growth through 2025.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/1171791/
 

For the unversed, catalysts in refineries are used in a variety of processes, including isomerization, desulfurization, reforming, and catalytic cracking. The product assists in meeting operational efficiency and managing fuel regulations while minimizing environmental impact. Fuel quality criteria including reduction of benzene, olefins, and other compounds in order to produce fuels with exceptionally low Sulphur content has increased catalyst demand for chemical synthesis.
 

On the downside, restricted availability and changing prices of raw materials like rare earth metals vanadium, molybdenum, and tungsten could hinder the market expansion over the forecast period.
 

By type, alkylation segment of refinery catalyst market is projected to grow at a CAGR of 3% during the analysis timeframe. These catalysts are typically utilized to convert low-molecular-weight alkenes like butene, propene, and isobutane into alkylates.
 

On the basis of material, chemical compound segment is predicted to develop at a CAGR of 2% through 2025. Chemical compounds such as sulfuric acid and hydrofluoric acid can be utilized as chemical compound based catalysts in alkylation processes.
 

Coming to geographical outlook, Europe market is reckoned to hold 20% revenue share in the coming years, owing to presence of refineries and petrochemical industries in several European nations. Meanwhile, Middle East & Africa market size is slated to increase with the CAGR of 4% through 2025, due to massive production of gas & crude oil.
 

The major players in refinery catalyst market are Honeywell UOP LLC, Johnson Matthey, Albemarle Corporation , BASF Catalysts LLC, Axens S.A., Royal Dutch Shell plc, Clariant AG, W. R. Grace & Co., Haldor Topsoe A/S, China Petrochemical Corporation or Sinopec Group, Exxon Mobil Corporation, Dorf Ketal, Pingxiang Chempack Imp. & Exp. Co. Ltd, UNICAT Catalyst Technologies Inc., and JGC Catalysts & Chemicals Ltd.