Catalysts are an essential component of industrial processes that help keep costs down and utilize less energy by speeding up chemical reactions. Refinery catalyst is a chemical process that transforms low-octane liquid products from the petroleum refinery, such as diesel, gasoline, and kerosene, into high-octane liquid products. These processes produce what are referred to as reformates. These reformates are the main sources of lucrative gasoline blending stock as well as aromatic bulk chemicals including benzene, toluene, and xylene. Refinery catalyst use is expected to increase due to the rising demand for fuel transportation. Refinery catalysts have seen a rising market pace as a result of the rising market demand for refined products. Due to its widespread application in the FCC process, the zeolite ingredient industry dominates the global market for refinery catalysts. The rise of refinery catalyst in the FCC process has been accelerated by its low cost and advantageous characteristics. Metal demand is expected to expand significantly during the projection period as demand for fuels with lower sulfur content rises.
According to Coherent Market Insights, The market for Refinery Catalysts was valued at USD 4.38 billion in 2020 and is anticipated to increase at a CAGR of 3.8% from 2021 to 2028, reaching USD 5.84 billion.
Major Players in the Refinery Catalyst Industry:
1.YARA International
The company was started in 1905 and is based in Oslo, Norway. It manufactures, distributes, and sells industrial goods and nitrogen-based mineral fertilizers. In June 2023, BASF and Yara Clean Ammonia will begin working together on a collaborative study to design and build a large-scale, carbon-neutral blue ammonia production facility with carbon capture in the Gulf Coast region of the United States.
2. Foster Wheeler AG
The business was started in 1927 and is based in Baar, Switzerland. Engineering and construction work are done by Foster Wheeler LLC. Additionally, the company offers power tools. Foster Wheeler is a company that works in the upstream oil and gas, chemicals and petrochemicals, electricity, refining, gas-to-liquids, pharmaceutical, biotechnology, and healthcare sectors.
3. OXEA GmbH
The firm was founded in 2007 and is based in Nordrhein-Westfalen, Germany. The business produces chemicals, including aldehydes, carboxylic acids, polyols, amines, and esters. OXEA is a leading producer of oxo derivatives and intermediates, including amines, alcohols, polyols, carboxylic acids, and speciality esters.
4. W R Grace
The firm was started in 1854 and is located in Columbia, Maryland, U.S. The business provides goods for construction, containers, and speciality chemicals. Catalysts, silica, fine chemicals, molecular sieves, and other items are the company's main focus. The business purchased a unit from Albemarle Corporation in June 2021. Standard Industries bought the company in September 2021.
5. Johnson Matthey
The company was founded in 1817 and is based in London, United Kingdom. Chemists, catalysts, and process designers are the company's areas of expertise as they work to develop goods, services, and solutions for a cleaner society. Johnson Matthey got a contract for hydrogen investment in China in July 2023. Johnson Matthey disclosed in May 2023 that Diagnostic Services would be sold to Sullivan Street Partners and Souter Investments.
6. BASF SE
The company was started in 1865 and is located in Ludwigshafen, Germany. In addition to providing a variety of system solutions and services, BASF supplies goods for the chemical, automotive, building, agricultural, oil, plastics, electrical, electronics, furniture, and paper industries. BASF introduced a digital solution for crowdsourcing in May 2023 for NORBIN and Shancai customers in Asia Pacific. MRO Station for DeoxoTM aircraft ozone and ozone/VOC converters will be opened by BASF in Shanghai in March 2023.
7. Technip SA
The business was started in 1958 and is located in Paris, France. The company provides consulting, project management, procurement, construction, conceptual designing, installation, manufacturing facilities, and field planning services. TechnipFMC announced the completion of the delisting of its shares on Euronext Paris in February 2022.
Definition: A refining catalyst is any chemical compound with a dual purpose that is used in refineries to speed up the refining of raw materials while also controlling the rate of the chemical reaction.
