Refinery Catalysts Market to Expand at 4.60% CAGR During 2016-2024 due to Rising Demand for Cleaner Petroleum Products - Transparency Market Research

Refinery Catalysts Market to Expand at 4.60% CAGR During 2016-2024 due to Rising Demand for Cleaner Petroleum Products - Transparency Market Research

PR Newswire

ALBANY, New York, April 12, 2019

ALBANY, New York, April 12, 2019 /PRNewswire/ -- The competitive landscape in the global refinery catalysts market is extremely consolidated, reports Transparency Market Research (TMR). However, the market depicts a highly organized competitive dynamics due to the active participation of a handful of leading players. ExxonMobil Corp., Chevron Corp., Sinopec corp., and Royal Dutch Shell Plc are the top four companies in the global refinery catalysts market.

Transparency_Market_Research

In this highly consolidated landscape, prominent players are scattered across the globe, especially in many regional markets. These companies have substantial clout over the refinery catalysts market, thanks to their huge product portfolios. They are launching innovative products for catering to a wide range of consumers. On the other side, many small-scale vendors in the global refinery catalysts market benefit from emerging lucrative opportunities. To this end, they intend to collaborate with top players for recalibrating their strategies, and tap into new revenue streams. Topmost companies are focusing on incorporating advanced technologies into their current offerings in order to accentuate their footprint in the refinery catalysts market. 

Request a Sample of Global Refinery Catalysts Market: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3972

According to TMR experts' estimation, the global refinery catalysts market is expected to attain revenue worth US$17.0 bn by the end of 2024. The market was valued at US$11.4 bn in 2015. The growth of the market is prophesized to occur at a CAGR of 4.60% during the assessment period from 2016 to 2024.

Among various types of materials, the cobalt nickel segment accounts for the maximum share in the market. This is due to their increased usage as a primary material for removing unwanted impurities from petrol and diesel. On the regional front, Asia Pacific is expected to continue its dominance in the global refinery catalysts market throughout the assessment period due to the increased demand for transportation fuels.

Request For Multiple Chapters: https://www.transparencymarketresearch.com/sample/sample.php?flag=MC&rep_id=3972

Governments' Strict Regulations in Controlling Vehicular Emissions Stoke Demand

Refinery catalysts are mainly used by various petroleum refineries and are highly utilized in cracking process. Such catalysts are key determinants of rates of the chemical processes that convert the refined petroleum products to numerous liquid products such as gasoline, diesel, and kerosene. These end products are often called as reformates. The growth of the global refinery catalysts market is majorly fueled by the soaring demand for transportation fuels, which boosts the consumption rate of refinery catalysts. Moreover, rising demand for refined products has also led the global refinery catalysts market to witness a significant growth.

Furthermore, growing governments' approach in setting norms in regulating the vehicular emissions acts as a key factor behind the substantial growth of the global refinery catalysts market. This is because of the refinery catalysts' role in increasing the sweet fuel production, which results in lowering the sulfur quantity. This lesser quantity of sulfur production highly impacts the environment in a positive way. Thus, such advantage is another factor propelling expansion in the global refinery catalysts market.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=3972

Under-usage of Refining Products May Hamper Market's Growth

Refining products are not highly being used in many developed economies such as Europe. Thus, the under-usage of a wide array of refining products in such economies is a major concern in the global refinery catalysts market, and it is likely to its growth. Nonetheless, rapid implementation of governments' norms in emission control across various developing economies, including those in Europe as well as emerging economies such as India and China, is expected to provide impetus to the global refinery catalysts market in coming years.

The review is based on a market research report by TMR, titled, "Refinery Catalysts Market ( Material Type - Zeolites, Molybdenum, Cobalt, Nickel; Physical Form - Powders, Beads and Extrudates; Refining Unit - Fluid Catalytic Cracking Unit, Hydrocracking Unit, H-Oil Unit, Hydro treating Unit, Catalytic Cracking Unit, Alkylation Unit) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024".

Request a Custom Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=3972

The segmentation of global refinery catalysts market is based on:

Refining Unit

Material

Physical Form

Region

Browse Chemicals & Materials Market Research Reports

Popular Research Reports by TMR:

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com 
Research Blog: https://cmfenews.com

Logo: https://mma.prnewswire.com/media/664869/Transparency_Market_Research_Logo.jpg  

Voltar noticias em Inglês