A new report from Transparency Market Research has analysed the catalyst market for petroleum refineries, chemical synthesis, polymers and environmental applications on a global scale and aims to present a comprehensive collection of data and analyses of various market parameters.
The catalyst market is experiencing rapid growth at the moment, and has done for recent years. The growth has been driven by the demand for refinery fuel and emerging trends. Refinery catalysts are projected to be the lifeline for the petroleum industry growth and Asia Pacific, Middle East and South America are the market leaders for the industry.
Chemical compounds, zeolites and metals dominate the catalyst market. The chemical compound catalyst market is further segmented into polyolefins, adsorbents, chemical synthesis catalysts and others. By application, the market is divided among four major segments of environmental, chemical synthesis, petroleum refining and polymers. The environmental segment is expected to be the leading market in the world and holds much sway over the chemical synthesis market in particular.
The market as a whole can be classified into heterogeneous and homogeneous coatings based on type. Heterogeneous catalyst are increasing in importance within the automotive industry, chemical, polymer, refinery and stationary industry. Homogeneous catalysts are also seeing growth and this is owing to their unique features such as selectivity, high activity and varied application.
Demand and price impacts
At the moment, ever increasing prices of raw materials are forcing refiners to opt for catalyst regeneration, which costs 35 – 50% less than fresh catalyst purchase. Moreover, catalyst regeneration helps refiners to deal with the problem of land filling. Petroleum refineries dominate the catalyst regeneration industry. Offsite and onsite are the two major technologies employed in catalyst regeneration with offsite technology having been dominant in the market since 2011.
However, when it comes to demand for catalysts, the report says that the main driver is increasingly stringent emissions reduction regulations across the world. Moreover, growth trend in end user industries like petroleum refineries, chemical synthesis and polymer manufacturing are driving demand for catalysts across the world.
Edited from various sources by Claira Lloyd.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/16052014/2012_2018_refinery_catalyst_market528/