Petroleum Refinery Catalysts Market: By Type (FCC Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, and Catalytic Reforming Catalyst),By Ingredients (Zeolites, Metals, and Chemical Compounds), and Geography

Petroleum refinery catalysts market was valued at USD 4,375.3 million in 2023 and is projected to reach USD 5,648.9 million by 2030, growing at a CAGR of 3.4% from 2024 to 2030. Refinery catalysts are the substance that is used to convert oil refining naphtha into reformats which are high-octane liquid products, surge in the demand for petroleum products, increasing activities in the oil and gas industry along with growing population across the world, also increasing demand for petroleum derivative accelerate the market growth. The growing demand for high octane fuel from the automotive industry due to consumer needs transportation and other applications, the continues technology improvement demands high quality fuel which drives the market growth.

The extensive application of refinery catalyst in purifying petroleum also surge in population and economics growth across the world creates lucrative opportunity in the petroleum refinery catalyst market. The fluctuating crude oil prices and decreases in oil reserve, the extraction process often produce high amount of sulphur content causing a high emission rate hinders the market. the growing use of unconventional of crude oil also fuelling demand for refinery catalyst, these sources require high quality catalyst for efficient catalyst. Geographically, Asia Pacific accounted for the fastest growing market with a maximum revenue share in 2022, it is expected to dominate the market in the forecast years.  

Petroleum Refinery Catalysts Market Key Developments:

• In October 2022, Clariant and Dorf Ketal, announced a definitive agreement for Dorf Ketal to acquire Clariant’s North American (NORAM) Land Oil business, a provider of chemical technologies and services to the North American oil and gas industry.
• In July 2021, BASF SE expands chemical catalyst recycling capacity and capability, recycles metals from industrial scrap, primarily chemical catalyst and will complement BASF existing precious metal recycling.