(PRWEB) December 15, 2013
According to a new market research report "Refinery Catalyst Market - FCC, HTC, HCC by units, geography, ingredients and applications (2010 - 2015)", published by MarketsandMarkets, the total global refinery catalyst market is expected to be worth US$3.4 billion by 2015. The global market is expected to record a CAGR of 2.29% from 2010 to 2015.
Browse 111 market data tables and figures and in-depth TOC on Global Refinery Catalyst Market - FCC, HTC and HCC by units, geography, ingredients and applications (2010 - 2015)
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The increasing demand for petroleum products coupled with the growing concerns towards the environment is expected to continue to drive the growth of the overall market for refinery catalyst. The benefits of refinery catalysts are attracting an increasing number of petroleum refineries and thus boosts the demand. In addition, intensive R&D efforts and increasing investments on refinery catalysts are expected to improve the efficiency of these products. The global Refinery Catalyst market is estimated to reach $3.4 billion in 2015 from about $3 billion in 2010.
EMEA has a large refinery catalyst market due to the presence of major oil producing countries in the region like Saudi Arabia and Iraq. EMEA is expected to account for 33% of the global refinery catalyst market in 2015. The APAC refinery catalyst market is expected to be worth $921.4 million in 2015 from $723.9 million in 2009. The region is expected to have a high CAGR of 3.28% from 2010 - 2015 due to its increasing capacity of refinery catalysts. The saturation of the North American and EMEA market is expected to boost the APAC market.
The global refinery catalyst is categorized into FCC (fluid catalytic cracker), hydro processing (hydro cracking and hydro treating), isomerization, alkylation and others. FCC is a key conversion process of petroleum refining, dominating the market with 38.5% followed by hydroprocessing catalysts with 32%. The demand for hydroprocessing catalysts has been increasing primarily because these reduce the high levels of impurities present in the feedstock. The hydro-treating catalysts segment accounted for the largest share i.e. 74.2% of the overall hydroprocessing catalysts market at $667.6 million in 2009. This segment is expected to reach $869million in 2015, at a CAGR of 3.53% for the period 2010-2015.
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