REFINERY CATALYST MARKET ANALYSIS

Refinery Catalyst MarketSize and Trends

The increasing demand for transportation of fuels is anticipated to boost the consumption of refinery catalysts. Moreover, the increasing market demand for refined products has led refinery catalysts to witness a growing market pace.

Refinery Catalyst Market Taxonomy

The global refinery catalyst market is segmented on the basis of type, ingredients, and applications.

Refinery Catalysts Market Outlook

• Asia Pacific is the largest market for refinery catalysts. The countries such as China and India have the largest population which in turn has enabled burgeoning growth in Industrialization, Urbanization, and Construction activities. Thereby, driving the growth of refinery catalyst market in Asia Pacific at the fastest rate. The rapid expansion and industrialization of polymer manufacturing and refining companies in the Asia-Pacific region is also expected to increase growth of refinery catalysts in the region.
• Increasing Oil and Gas exploration activities has led to an increase of demand in the Middle East region. Therefore, refinery catalysts market is expected to have a high growth rate in this region.
• In Europe, the economic slowdown has hindered the market from the past few years. But, the growing construction and automotive industry has enabled the refinery catalyst market to grow at a steady rate.
• Shale gas boom has attracted many markets in North America and has led to the establishment of many exploration and refining projects. This, in turn, has led to the use of the catalyst to convert heavy crude oil into lighter parts. The increasing use of petroleum feedstock in North America is creating the highest growth opportunities in the refinery catalysts market.