Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 5.27 Billion | USD 6.75 Billion | 2.8% | 2023 |
FrequentlyAsked Questions
A refinery catalyst is a substance that is employed in petroleum refineries to expedite and facilitate chemical reactions that occur during the refining process. These catalysts are essential for the transformation of crude oil into more valuable products, including gasoline, diesel, aviation fuel, and other petrochemicals. Refinery catalysts contribute to the optimization of the production of cleaner fuels, the enhancement of yield, and the enhancement of refinery operations by facilitating specific reactions.
Refineries are being compelled to implement catalysts that facilitate the production of healthier fuels with reduced sulfur content as a result of the increasingly stringent regulations that governments worldwide are implementing regarding emissions and fuel quality.
Zion Market Research has published a report on the global Refinery Catalyst Market, estimating its value at USD 5.27 Billion in 2023, with projections indicating that it will reach USD 6.75 Billion by 2032.
The market is expected to expand at a compound annual growth rate (CAGR) of 2.8% over the forecast period 2024-2032.
Based on the region, the global refinery catalyst market can be divided into five main regions: Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Clariant, Honeywell UOP, E.I. du Pont de Nemours & Company, Royal Dutch Shell, INEOS Group Limited, HaldorTopsoe, Albemarle Albemarle Corporation, Exxon Mobil Corporation, Johnson Matthey, Axens, and BASF
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