MEA Refining Catalysts Industry

MEA Refining Catalysts Market Analysis

The Middle-East and Africa Refining Catalysts Market is expected to register a CAGR of greater than 3% during the forecast period.

• Volatility in precious metal prices are likely to hinder the market's growth.
• By ingredient, the zeolites segment accounted for the largest market share and is expected to grow during the forecast period owing to the fact that it is used in almost all types of refining units with major consumption in fluidized catalytic cracking units.
• Shifting focus toward nanocatalysts is likely to create opportunities to the market growth in the coming years.

MEA Refining Catalysts Market Trends

Fluid Catalytic Cracking (FCC) Catalysts to Dominate the Market

• The fluid catalytic cracking (FCC) process plays a crucial role in refineries while producing lighter products from crude oil.
• FCC unit helps in converting a variety of feed types, such as cracked gas oil, gas oil, deasphalted gas oils, vacuum/atmospheric resins, and others, into lighter and high-value products, such as diesel oil, jet fuel, LPG, kerosene, and gasoline.
• In the FCC unit, the feedstock is heated at high temperature and moderate pressure. Along with this, the feedstock is brought in contact with a catalyst which helps to break the long-chain molecules of the high-boiling hydrocarbon liquids into small molecules, which are further collected in the form of vapors.
• In the FCC process, the catalysts are used in the form of fine powders. Previously, catalysts, such as amorphous silica-alumina were used for cracking vacuum gas oils in the FCC unit. However, in the early 1960s, zeolite was commercially introduced as FCC catalysts, which had been a significant advancement in the history of catalytic cracking.
• Owing to the aforementioned factors, FCC catalysts are of great importance in propelling the market demand for refining catalysts in the forecast period.

Saudi Arabia to Dominate the Market

• Due to various government policies in oil refinery sector along with company acquisitions, the Saudi Arabian refining catalyst market is expected to grow during the forecast period.
• Saudi Arabia is planning to raise the crude oil production capacity to cope up with the growing domestic demand, thus driving the studied market.
• Growing transportation, industrial production, electricity generation along with domestic demand resulting from rising population, and increasing income bolster the demand for refining catalysts.
• In addition, many companies are planning to expand their businesses in various countries, thus driving the refining catalyst market.
• Due to the above-mentioned factors, the market for refining catalysts in the country is projected to grow during the forecast period.

MEA Refining Catalysts Industry Overview

The Middle-East and Africa refining catalysts market is consolidated in nature. Key players in the market include BASF SE, Albemarle Corporation, Haldor Topsoe A/S, Saudi Arabian Oil Co., and W. R. Grace & Co.-Conn., among others.

MEA Refining Catalysts Market Leaders