Over the last few years, due to the promotion of new fuel standards, oil refiners using heavy and inferior raw materials, the expansion of oil refining capacity and other factors, the oil refining catalyst industry has gathered much growth momentum in China.
Last year, the global oil refining catalyst market reached US$ 3.13 billion with an average annual group of 2%. Hydrogenation catalyst market grew to US$ 1.06 billion with an average annual growth rate of 2.36%; the FCC market hit US$ 907 million with the average annual growth of 0.71%; the hydrogenation cracking catalyst had the scale of US$ 251 million with an average annual growth rate of 6.22%; the naphtha reforming catalyst market achieved US$ 149 million with an average growth of 1%.
In China at the moment:
- Approximately 60% of oil refining catalysts are produced by Sinopc and its affiliates.
- 30% of oil refining catalysts are produced by CNPC and its affiliates.
- Major oil refining catalyst manufacturing enterprises include Catalyst Plant of Sinopec Changling Refining Co., Ltd., Catalyst Plant of CNPC Lanzhou Oil Refining Catalyst Factory and Catalyst Plant of CNPC Fushun Oil No.3 Factory.
- Grac and Engehard of the US and Akzo of The Netherlands also occupy some market shares, but the shares are small, which doesn't mean they pose much threat to domestic enterprises in the Chinese market.
In 2013, China’s production capacity for oil refining catalyst reached 223 000 tpy. FCC is the most produced catalyst in the country, accounting for 79% of production. China also produces hydrogenation cracking, hydrogenation processing and catalytic catalysts.
Since 2006, the global leading FCC catalyst suppliers have not made the large expansion and transformation of production capacity that was expected, so catalyst output does not work in tandem with supply and demand. This offers good external market conditions for the development and expansion of catalyst manufacturing capacity in China, therefore giving the market good development prospects. It is estimated that China’s oil refining catalyst manufacturing industry will keep the rapid growth trend in the next five years afloat and production capacity should increase to 350 000 tpy by 2018.
Adapted from a press release by Claira Lloyd.
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