Heavy Oil Cracking Catalyst Market Size, Share and Trends | Industry Forecast Report 2027
A heavy Oil Cracking Catalyst is an integral part of any oil refinery process. These catalysts are used to convert high molecular weight and high boiling point hydrocarbons to more valuable products such as olefin gases, gasoline and other petroleum products. The suppliers generally provide a dedicated technical team to their customers to provide better provide pre-sales, sales and after-sales services based on specific requirements of individual refineries to perfectly combine feedstock, operation parameters and catalysts for maximum effectiveness.
Heavy Oil Cracking Catalysts help in cracking the
hydrocarbon chain in distilled crude oil to produce transportation fuels such
as gasoline and diesel fuels and other petroleum-based products. Apart from cracking,
Heavy Oil Cracking Catalyst additives are also used to reduce sulfur in
gasoline, maximize propylene production in refinery units and reduce sulfur
oxide, nitrogen oxide and carbon monoxide emission from refinery cracking
units.
The demand for additives is expected to rise in near future
as cracking produces sulphur and nitrogen compounds. The high demand for
ultra-low sulphur containing diesel and aviation fuels will be a major driving
factor propelling the growth of the heavy oil cracking catalyst market. Also,
supply solutions to meet customized needs of the clients through tailored
products and services will add to the growth of this market.
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Heavy Oil Cracking Catalyst Market: Drivers and
Restraints
Increasing scarcity of oil resources is one of the key
factors driving demand of Heavy Oil Cracking Catalysts in coming years. These
catalysts are required for improving light oil yield and efficiently utilizing
existing oil resources. The primary source of air pollution are the olefins
that exist in vehicle exhaust. Developing countries such as China and India
will face issues regarding depleting petroleum reserves due to high economic
growth. Also, increasing usage of petroleum products to cater to rising demand
from manufacturing, industrial and transportation sectors is also anticipated
to drive the demand for Heavy Oil Cracking Catalysts during the forecast.
Cracking catalysts
that reduce olefins in gasoline are anticipated to gain importance in coming
years to comply with rigorous environmental protection standards being
implemented by various government authorities. The demand for heavy oil
cracking catalysts will also be fueled by expected technological up gradation
and enhancement of existing equipment in the region. However, high operation
and investment costs are two major restraints expected to negatively impact
future demand for Heavy Oil Cracking Catalysts. Demand for gasoline in
developed regions such as Europe and North America is declining and this may
heavily impact Heavy Oil Cracking Catalyst industry growth in these regions.
Heavy Oil Cracking Catalyst Market: Region Wise Outlook
The global Heavy Oil Cracking Catalyst Market is segmented
into seven key regions: North America, Latin America, Western Europe, and
Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and
Africa (MEA). As of 2017, the growth in developed regions such as Western
Europe, Japan and North America will be driven by new product innovations that
comply with strict government regulation owing to rising environment concerns
across the globe. APEJ and Latin America regions are also expected to register
a significant CAGR over the forecast period owing to strategically increasing
investments in the petroleum refining sector to cater to the growing demand.
MEA is also projected to expand with a significant CAGR over the forecast
period due to expected future investments in the downstream sector to
compliment huge oil reserves in the region.
Examples of some of the market participants in the global
Heavy Oil Cracking Catalyst Market identified across the value chain include:
- Haldor
Topsoe
- China
National Petrochemical Company
- Axens
- Johnson
Mathey
- CRI
Catalyst Company
- Süd-Chemie
- Albemarle
Corporation
- Grace
Davison, Inc
- BASF
SE
- ExxonMobil
Chemical
The research report presents a comprehensive assessment of
the market and contains thoughtful insights, facts, historical data, and
statistically supported and industry-validated market data. It also contains
projections using a suitable set of assumptions and methodologies. The research
report provides analysis and information according to market segments such as
geography, technology and applications.
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The report covers exhaustive analysis on:
- Market
Segments
- Market
Dynamics
- Market
Size
- Supply
& Demand
- Current
Trends and Issues and Challenges
- Competition
& Companies involved
- Technology
- Value
Chain
Regional analysis includes
- North
America (U.S., Canada)
- Latin
America (Brazil, Mexico, Rest Of Latin America)
- Western
Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium,
Netherlands, Luxembourg)
- Eastern
Europe (Poland, Russia, Rest Of Eastern Europe)
- Asia
Pacific Excluding Japan (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle
East and Africa (GCC countries, S. Africa, N. Africa, Rest Of MEA)
The report is a compilation of first-hand information,
qualitative and quantitative assessment by industry analysts, inputs from
industry experts and industry participants across the value chain. The report
provides in-depth analysis of parent market trends, macro-economic indicators
and governing factors along with market attractiveness as per segments. The
report also maps the qualitative impact of various market factors on market
segments and geographies.
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Heavy Oil Cracking
Catalyst Market: Segmentation
On the basis of hydrocarbon type, the Heavy Oil Cracking
Catalyst Market can be segmented into:
- Vacuum
Gas Oil (VGO)
- Resid
- Oil
Sands
On the basis of application, the Heavy Oil Cracking Catalyst
Market can be segmented into:
- Cracking
- Olefin
reduction
- Propene
enhancement
- Other
additives
Report Highlights:
- Detailed
overview of parent market
- Changing
market dynamics in the industry
- In-depth
market segmentation
- Historical,
current and projected market size in terms of volume and value
- Recent
industry trends and developments
- Competitive
landscape
- Strategies
of key players and products offered
- Potential
and niche segments, geographical regions exhibiting promising growth
- A
neutral perspective on market performance
- Must-have
information for market players to sustain and enhance their market
footprint.
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