Refinery Catalyst Market Size, Trends and Insights By Type (Zeolites, Metallic, Chemical Compounds, Others), By Application (FCC Catalysts, Alkylation Catalysts, Hydrotreating Catalysts, Hydrocracking Catalysts, Catalytic Reforming, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Honeywell International Inc.
- Haldor Topsoe A/S
- Criterion Catalysts & Technologies L.P.
- Arkema S.A.
- Evonik Industries AG
- Others
Reports Description
Global Refinery Catalyst Market was valued at USD 7.5 Billion in 2024 and is expected to reach USD 12.6 Billion by 2033, at a CAGR of 5.2% during the forecast period 2024 – 2033.
A material used in the refining of crude oil to speed up chemical reactions and increase process efficiency is called a refinery catalyst. These catalysts are usually solid substances that aid in a variety of processes that are necessary to convert crude oil into useful petroleum products such as diesel, petrol, and jet fuel. These reactions include cracking, reforming, isomeric formation, and hydro processing.
Refinery Catalyst Market: Growth Factors
Increased demand for petroleum derivatives
The market for refinery catalysts is mostly driven by the growing demand for petroleum derivatives. With the rise in global energy consumption, especially in industries like transportation and manufacturing that depend on petroleum-based fuels, refineries are under more pressure than ever to improve output quality and production efficiency.
In this case, refinery catalysts are essential because they enable critical procedures like hydrotreating, catalytic cracking, and catalytic reforming, which transform crude oil into high-value products like petrochemicals, gasoline, and diesel.
Stricter environmental laws and a growing demand for cleaner fuels highlight the need for cutting-edge catalyst technologies that facilitate the manufacture of low-sulphur fuels and lower emissions. As a result, the market for refinery catalysts is expanding rapidly as refineries throughout the globe look for cutting-edge catalyst solutions to fulfil the rising demand for petroleum derivatives while adhering to sustainability mandates.
For instance, according to the Oil 2023 medium-term market analysis, strong demand from the petrochemical and aviation industries will help drive a 6% increase in global oil consumption between 2022 and 2028, reaching 105.7 million barrels per day (mb/d).
This growth is based on existing government policies and market trends. Demand is predicted to peak in 2028, with yearly growth slowing from 2.4 mb/d current year to barely 0.4 mb/d. current is despite the cumulative rise in demand.
Rising strict environmental regulations
Refineries are being forced by increasingly stringent environmental laws to look for catalyst solutions that maximize process efficiency while reducing emissions. Strict laws require that dangerous pollutants released during refining processes, such as sulphur and nitrogen oxides, be reduced.
As a result, there is an increasing need for catalysts that facilitate effective conversion processes like hydrocracking and hydrotreating to enable the generation of cleaner fuels. Catalysts that facilitate the generation of low-sulphur fuels also comply with laws meant to lower car emissions and enhance air quality.
Refineries are making investments in cutting-edge catalyst technologies that maximize production costs while providing increased activity, selectivity, and stability to comply with regulatory standards. Consequently, the need to ensure sustainable and responsible refining while adhering to environmental requirements is propelling the growth of the refinery catalyst market.
Refinery Catalyst Market: Restraints
Fluctuating prices of crude oil
The refinery catalyst market is meticulously linked to the price of crude oil owing to the reliance of refineries on crude oil as their primary feedstock. Considerations on refinery investments are impacted by fluctuating crude oil prices, which have a direct effect on refining margins and profitability.
Refineries continue to reduce spending, notably purchases of catalysts, during periods of high crude oil prices since refining profits tend to decline during these times. On the other hand, refining margins increase during times of low crude oil prices, encouraging refineries to spend money on catalysts for process optimization and efficiency improvement.
Refinery catalyst providers face uncertainties due to the cyclical nature of the business since they have to deal with unstable price conditions. Long-term low crude oil prices may also cause refineries to postpone capacity expansions and maintenance, which would further reduce demand for catalysts.
Refinery Catalyst Market: Opportunities
Growing demand for catalytic reforming
The market for refinery catalyst is expanding due in large part to the rising need for catalytic reforming. A crucial step in the refining of petroleum is catalytic reforming, which turns low-octane naphtha into high-octane gasoline ingredients and yields useful feedstocks for petrochemicals.
Higher octane-rated fuels are becoming more and more necessary as environmental restrictions tighten and the world’s energy demand climbs. Producing these fuels is made easier by catalytic reforming, which transforms low-quality naphtha into components with a high-octane content.
As a result, refineries are spending money modernizing their catalytic reforming units and implementing cutting-edge catalyst technology to boost yield, enhance process efficiency, and comply with strict environmental laws.
The global market for refinery catalyst is driven by this increase in demand for catalytic reforming as refineries look for novel catalyst solutions to optimize their operations and remain competitive in the evolving energy landscape.
The most common method for creating refinery hydrogen and blend stocks for high octane gasoline is still catalytic reforming. Another important source of feedstock for aromatic petrochemicals (benzene, toluene, and xylenes, or BTX) is reforming.
Naphtha is reformed in more than 78% of refineries worldwide; its combined capacity accounts for 13% of all crude distillation capacity. In catalytic reforming, there has been a recent focus on improving reactor internals, improving regenerating processes, upgrading existing units, reforming ultra-low sulphur, and low water naphtha, and improving catalyst and process modifications to optimize catalyst life and preference for hydrogen and BTX aromatics.
Refinery Catalyst Market: Segmentation Analysis
Global Refinery Catalyst market is segmented by type, application and region. Based on type, the market is classified into zeolites, metallic, chemical compounds and others. Zeolites dominated the market in 2023 with a market share of 45.1% and are expected to keep their dominance during the forecast period 2024-2033.
Zeolites play a pivotal role in driving the refinery catalyst market owing to their outstanding attributes and flexibility. These aluminium silicate minerals, which can be found naturally or artificially, have a special porous structure with regular passages and cages that enable them to function as extremely effective adsorbents and catalysts in a variety of refining processes.
Zeolite-based catalysts are widely employed in fluid catalytic cracking (FCC) units in the petroleum industry to help convert heavy hydrocarbons into useful lighter products like diesel and gasoline. Zeolites are also used in alkylation and hydrocracking procedures in refineries to boost process efficiency, improve selectivity, and provide higher product yields.
The ability to adsorb particular compounds selectively increases their usefulness in refining processes and makes them essential elements of contemporary refinery catalyst compositions. Consequently, zeolites drive innovation and advancements in refinery processes, contributing significantly to the growth and evolution of the refinery catalyst market.
Based on application, the market is classified into FCC catalysts, alkylation catalysts, hydrotreating catalysts, hydrocracking catalysts, catalytic reforming and others. FCC Catalysts dominated the market in 2023 with a market share of 33.5% and is expected to keep its dominance during the forecast period 2024-2033.
FCC (Fluid Catalytic Cracking) enzymes serve a pivotal role in the refinery catalyst market owing to their ability to transform heavy hydrocarbons into valuable goods such as diesel and gasoline. Its distinct structure and makeup enable the effective breaking down of intricate hydrocarbon molecules, boosting the production of highly sought-after fuels.
Furthermore, FCC catalysts improve refineries’ operational efficiency and process flexibility, allowing them to adapt quickly to changes in feedstock and market demands. FCC catalysts encourage investment and innovation in refining technology, assuring the production of cleaner and higher-quality fuels as the world’s demand for transportation fuels keeps growing.
Its broad use demonstrates how important they are in influencing the refinery catalyst market, spurring expansion, and fulfilling the changing demands of the energy sector
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 7.5 Billion |
| Projected Market Size in 2033 | USD 12.6 Billion |
| Market Size in 2023 | USD 7.2 Billion |
| CAGR Growth Rate | 5.2% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Refinery Catalyst Market: Regional Analysis
By region, Refinery Catalyst market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global Refinery Catalyst market in 2023 with a market share of 46.2% and is expected to keep its dominance during the forecast period 2024-2033.
The demand for refined petroleum products has increased significantly as a result of the vigorous industrial expansion in the Asia-Pacific region, especially in nations like China and India. The need for sophisticated refinery catalysts is being driven by the need to build new refineries and expand and modernize the ones that already exist.
Furthermore, refineries in many Asia-Pacific nations are required by strict environmental restrictions to produce cleaner fuels with reduced sulphur and nitrogen contents. By eliminating contaminants, refinery catalysts such as hydroprocessing catalysts help transform heavy crude oil fractions into cleaner, higher-grade fuels. The use of refinery catalysts in the region is further propelled by a demand for cleaner fuels.
Additionally, a large amount of the world’s oil reserves are found in the Asia-Pacific area, which makes it a desirable site for refinery operations. Thus, the need for refinery catalysts in the area is still being driven by expenditures in refinery infrastructure and technological advancements.
Overall, the Asia-Pacific region plays a major role in driving the growth of the refinery catalyst market due to its fast industrialization, strict environmental laws, and critical position in the global oil industry.
Refinery Catalyst Market: Recent Developments
- In March 2024, Clariant, and Lummus Technology signed a contract with Huizhou Boeko Materials Co. Ltd., to provide their CATOFIN catalyst and process technology for the dehydration of isobutane at the new plant in Huizhou City, China.
- In January 2024, Johnson Matthey disclosed a USD 40 million investment in the fluid catalyst cracking additives space to improve its breakthrough features and strengthen its standing in this market.
- In March 2023, Evonik Catalysts broadened its production capacities for activated catalysts marketed under the KALCAT® and Metalyst® brands at its manufacturing plants in Hanau, Europe.
List of the prominent players in the Refinery Catalyst Market:
- Honeywell International Inc.
- Haldor Topsoe A/S
- Criterion Catalysts & Technologies L.P.
- Arkema S.A.
- Evonik Industries AG
- JGC C&C
- Exxon Mobil Corporation
- Royal Dutch Shell plc
- Chevron Corporation Albemarle Corporation
- BASF SE
- Clariant AG
- R. Grace & Co.
- Axens S.A.
- Johnson Matthey PLC
- Dow Chemical Company
- Nippon Ketjen Co. Ltd.
- UOP LLC
- Zeolyst International
- IFP Energies Nouvelles
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Refinery Catalyst Market is segmented as follows:
By Type
- Zeolites
- Metallic
- Chemical Compounds
- Others
By Application
- FCC Catalysts
- Alkylation Catalysts
- Hydrotreating Catalysts
- Hydrocracking Catalysts
- Catalytic Reforming
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Refinery Catalyst Market, (2024 – 2033) (USD Billion)
- 2.2 Global Refinery Catalyst Market: snapshot
- Chapter 3. Global Refinery Catalyst Market – Industry Analysis
- 3.1 Refinery Catalyst Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Increased demand for petroleum derivatives
- 3.2.2 Rising strict environmental regulations
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By Application
- Chapter 4. Global Refinery Catalyst Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Refinery Catalyst Market: Company Market Share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Refinery Catalyst Market – Type Analysis
- 5.1 Global Refinery Catalyst Market Overview: By Type
- 5.1.1 Global Refinery Catalyst Market Share, By Type, 2023 and 2033
- 5.2 Zeolites
- 5.2.1 Global Refinery Catalyst Market by Zeolites, 2024 – 2033 (USD Billion)
- 5.3 Metallic
- 5.3.1 Global Refinery Catalyst Market by Metallic, 2024 – 2033 (USD Billion)
- 5.4 Chemical Compounds
- 5.4.1 Global Refinery Catalyst Market by Chemical Compounds, 2024 – 2033 (USD Billion)
- 5.5 Others
- 5.5.1 Global Refinery Catalyst Market by Others, 2024 – 2033 (USD Billion)
- 5.1 Global Refinery Catalyst Market Overview: By Type
- Chapter 6. Global Refinery Catalyst Market – Application Analysis
- 6.1 Global Refinery Catalyst Market Overview: By Application
- 6.1.1 Global Refinery Catalyst Market Share, By Application, 2023 and 2033
- 6.2 FCC Catalysts
- 6.2.1 Global Refinery Catalyst Market by FCC Catalysts, 2024 – 2033 (USD Billion)
- 6.3 Alkylation Catalysts
- 6.3.1 Global Refinery Catalyst Market by Alkylation Catalysts, 2024 – 2033 (USD Billion)
- 6.4 Hydrotreating Catalysts
- 6.4.1 Global Refinery Catalyst Market by Hydrotreating Catalysts, 2024 – 2033 (USD Billion)
- 6.5 Hydrocracking Catalysts
- 6.5.1 Global Refinery Catalyst Market by Hydrocracking Catalysts, 2024 – 2033 (USD Billion)
- 6.6 Catalytic Reforming
- 6.6.1 Global Refinery Catalyst Market by Catalytic Reforming, 2024 – 2033 (USD Billion)
- 6.7 Others
- 6.7.1 Global Refinery Catalyst Market by Others, 2024 – 2033 (USD Billion)
- 6.1 Global Refinery Catalyst Market Overview: By Application
- Chapter 7. Refinery Catalyst Market – Regional Analysis
- 7.1 Global Refinery Catalyst Market Regional Overview
- 7.2 Global Refinery Catalyst Market Share, by Region, 2023 & 2033 (USD Billion)
- 7.3. North America
- 7.3.1 North America Refinery Catalyst Market, 2024 – 2033 (USD Billion)
- 7.3.1.1 North America Refinery Catalyst Market, by Country, 2024 – 2033 (USD Billion)
- 7.3.1 North America Refinery Catalyst Market, 2024 – 2033 (USD Billion)
- 7.4 North America Refinery Catalyst Market, by Type, 2024 – 2033
- 7.4.1 North America Refinery Catalyst Market, by Type, 2024 – 2033 (USD Billion)
- 7.5 North America Refinery Catalyst Market, by Application, 2024 – 2033
- 7.5.1 North America Refinery Catalyst Market, by Application, 2024 – 2033 (USD Billion)
- 7.6. Europe
- 7.6.1 Europe Refinery Catalyst Market, 2024 – 2033 (USD Billion)
- 7.6.1.1 Europe Refinery Catalyst Market, by Country, 2024 – 2033 (USD Billion)
- 7.6.1 Europe Refinery Catalyst Market, 2024 – 2033 (USD Billion)
- 7.7 Europe Refinery Catalyst Market, by Type, 2024 – 2033
- 7.7.1 Europe Refinery Catalyst Market, by Type, 2024 – 2033 (USD Billion)
- 7.8 Europe Refinery Catalyst Market, by Application, 2024 – 2033
- 7.8.1 Europe Refinery Catalyst Market, by Application, 2024 – 2033 (USD Billion)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Refinery Catalyst Market, 2024 – 2033 (USD Billion)
- 7.9.1.1 Asia Pacific Refinery Catalyst Market, by Country, 2024 – 2033 (USD Billion)
- 7.9.1 Asia Pacific Refinery Catalyst Market, 2024 – 2033 (USD Billion)
- 7.10 Asia Pacific Refinery Catalyst Market, by Type, 2024 – 2033
- 7.10.1 Asia Pacific Refinery Catalyst Market, by Type, 2024 – 2033 (USD Billion)
- 7.11 Asia Pacific Refinery Catalyst Market, by Application, 2024 – 2033
- 7.11.1 Asia Pacific Refinery Catalyst Market, by Application, 2024 – 2033 (USD Billion)
- 7.12. Latin America
- 7.12.1 Latin America Refinery Catalyst Market, 2024 – 2033 (USD Billion)
- 7.12.1.1 Latin America Refinery Catalyst Market, by Country, 2024 – 2033 (USD Billion)
- 7.12.1 Latin America Refinery Catalyst Market, 2024 – 2033 (USD Billion)
- 7.13 Latin America Refinery Catalyst Market, by Type, 2024 – 2033
- 7.13.1 Latin America Refinery Catalyst Market, by Type, 2024 – 2033 (USD Billion)
- 7.14 Latin America Refinery Catalyst Market, by Application, 2024 – 2033
- 7.14.1 Latin America Refinery Catalyst Market, by Application, 2024 – 2033 (USD Billion)
- 7.15. The Middle-East and Africa
- 7.15.1 The Middle-East and Africa Refinery Catalyst Market, 2024 – 2033 (USD Billion)
- 7.15.1.1 The Middle-East and Africa Refinery Catalyst Market, by Country, 2024 – 2033 (USD Billion)
- 7.15.1 The Middle-East and Africa Refinery Catalyst Market, 2024 – 2033 (USD Billion)
- 7.16 The Middle-East and Africa Refinery Catalyst Market, by Type, 2024 – 2033
- 7.16.1 The Middle-East and Africa Refinery Catalyst Market, by Type, 2024 – 2033 (USD Billion)
- 7.17 The Middle-East and Africa Refinery Catalyst Market, by Application, 2024 – 2033
- 7.17.1 The Middle-East and Africa Refinery Catalyst Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 8. Company Profiles
- 8.1 Honeywell International Inc.
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 Haldor Topsoe A/S
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 Criterion Catalysts & Technologies L.P.
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 Arkema S.A.
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 Evonik Industries AG
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 JGC C&C
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 Exxon Mobil Corporation
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 Royal Dutch Shell plc
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 Chevron Corporation Albemarle Corporation
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 BASF SE
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.11 Clariant AG
- 8.11.1 Overview
- 8.11.2 Financials
- 8.11.3 Product Portfolio
- 8.11.4 Business Strategy
- 8.11.5 Recent Developments
- 8.12 W.R. Grace & Co.
- 8.12.1 Overview
- 8.12.2 Financials
- 8.12.3 Product Portfolio
- 8.12.4 Business Strategy
- 8.12.5 Recent Developments
- 8.13 Axens S.A.
- 8.13.1 Overview
- 8.13.2 Financials
- 8.13.3 Product Portfolio
- 8.13.4 Business Strategy
- 8.13.5 Recent Developments
- 8.14 Johnson Matthey PLC
- 8.14.1 Overview
- 8.14.2 Financials
- 8.14.3 Product Portfolio
- 8.14.4 Business Strategy
- 8.14.5 Recent Developments
- 8.15 Dow Chemical Company
- 8.15.1 Overview
- 8.15.2 Financials
- 8.15.3 Product Portfolio
- 8.15.4 Business Strategy
- 8.15.5 Recent Developments
- 8.16 Nippon Ketjen Co. Ltd.
- 8.16.1 Overview
- 8.16.2 Financials
- 8.16.3 Product Portfolio
- 8.16.4 Business Strategy
- 8.16.5 Recent Developments
- 8.17 UOP LLC
- 8.17.1 Overview
- 8.17.2 Financials
- 8.17.3 Product Portfolio
- 8.17.4 Business Strategy
- 8.17.5 Recent Developments
- 8.18 Zeolyst International
- 8.18.1 Overview
- 8.18.2 Financials
- 8.18.3 Product Portfolio
- 8.18.4 Business Strategy
- 8.18.5 Recent Developments
- 8.19 IFP Energies Nouvelles
- 8.19.1 Overview
- 8.19.2 Financials
- 8.19.3 Product Portfolio
- 8.19.4 Business Strategy
- 8.19.5 Recent Developments
- 8.20 Others.
- 8.20.1 Overview
- 8.20.2 Financials
- 8.20.3 Product Portfolio
- 8.20.4 Business Strategy
- 8.20.5 Recent Developments
- 8.1 Honeywell International Inc.
List Of Figures
Figures No 1 to 24
List Of Tables
Tables No 1 to 52
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2033
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Honeywell International Inc.
- Haldor Topsoe A/S
- Criterion Catalysts & Technologies L.P.
- Arkema S.A.
- Evonik Industries AG
- JGC C&C
- Exxon Mobil Corporation
- Royal Dutch Shell plc
- Chevron Corporation Albemarle Corporation
- BASF SE
- Clariant AG
- R. Grace & Co.
- Axens S.A.
- Johnson Matthey PLC
- Dow Chemical Company
- Nippon Ketjen Co. Ltd.
- UOP LLC
- Zeolyst International
- IFP Energies Nouvelles
- Others
FAQs
The major driver for the Refinery Catalyst market is increased demand for petroleum derivatives and rising strict environmental regulations.
The “FCC Catalysts” had the largest share in the global market for Refinery Catalyst.
The “Zeolites” category dominated the market in 2023.
The key players in the market are Honeywell International Inc., Haldor Topsoe A/S, Criterion Catalysts & Technologies L.P., Arkema S.A., Evonik Industries AG, JGC C&C, Exxon Mobil Corporation, Royal Dutch Shell plc, Chevron Corporation Albemarle Corporation, BASF SE, Clariant AG, W.R. Grace & Co., Axens S.A., Johnson Matthey PLC, Dow Chemical Company, Nippon Ketjen Co. Ltd., UOP LLC, Zeolyst International, IFP Energies Nouvelles, Others.
“Asia-Pacific” had the largest share in the Refinery Catalyst Market.
The global market is projected to grow at a CAGR of 5.2% during the forecast period, 2024-2033.
The Refinery Catalyst Market size was valued at USD 7.5 Billion in 2024.