Oil & Gas Catalyst Market - Global Industry Analysis, Size, Share, Growth and Forecast Report To 2022

Published On:May 19, 2017, 4:40 pm

Oil and gas catalyst are also termed as refinery catalysts, and are used by many petroleum refineries in the cracking procedure. The procedure is referred to as catalytic reforming and it is a chemical procedure which is used to alter petroleum refinery naphthas that has been distilled from crude oil which usually has reduced octane ratings, into high-octane liquid products known as reformates that are finest stocks for high-octane gasoline. Global oil & gas catalyst market is primarily driven by the escalating need for cleaner petroleum products. Depending upon the type, these catalysts can be classified into several segments such as fluid catalytic cracking catalysts, hydrogen manufacturing catalysts, hydroprocessing catalysts, isomerization catalysts, alkylation catalysts, hydrodesulphurization catalysts, and others. These catalysts are elements that promote the rate of chemical reaction without undergoing any kind of permanent chemical alteration. Petroleum refineries use these catalysts to enhance the resultant quantity by improving the functional efficacy at the time of petroleum refining procedure. Oil and gas catalysts have significant role in being sufficient to the fuel standards, and enhancing conversion and selectivity.

The main raw materials which are used in the fabrication of oil and gas catalysts are zeolites, metals, and chemical compounds. Hydroprocessing catalysts are use to generate cleaner fuels and have extreme growth rate amongst oil and gas catalysts. The global oil and gas catalyst market is expected to grow lucratively while registering at a considerable CAGR during the forecast period owing to several factors. Several refineries experience issues in processing of tight oil like heat balance effect, existence of contaminant metals, and configuration imbalance. In such cases, the oil and gas catalysts render solutions to acquire extreme selectivity and conversion on light feeds, for optimum butylenes selection and also for metal tolerance. Certain factors such as characterization of rigorous emission norms to lessen the NOx and sulfur in the air, and increasing need for superior-performance transportation fuel. Nevertheless, factors like high production cost coupled with declining reserves of crude oil are together being a barrier to the growth of this industry’s market.

Geographically, the global oil and gas catalyst market is region-wise split into North America, Japan, China, Europe, Southeast Asia, and India. The key market manufacturers of this industry are Arkema, Albemarle, Evonik Industries, Exxon Mobil Chemical, Chevron Phillips, The Dow Chemical, Honeywell, and Clariant. On the basis of product type the global market of this industry is segmented into Precious Metals, Transition Metals, Zeolites, rare earth metals, and many others. Lastly, the end user applications of this industry’s global market are Hydro processing, Hydrogen Production, Gas Processing, Purification, and Fluid Catalytic Cracking.

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