Market Size of Asia-Pacific Refining Catalysts Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Refining Catalysts Market Analysis
The Asia-Pacific refining catalysts market is estimated to witness a significant growth, at an estimated CAGR of over 4%, over the forecast period. Increasing investment in refineries are expected to drive the market 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.
- China is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.
APAC Refining Catalysts Industry Segmentation
The Asia-Pacific refining catalysts market report includes:
| Ingredient | |
| Zeolite | |
| Metal | |
| Chemical Compounds |
| Type | |
| Fluid Catalytic Cracking Catalysts | |
| Reforming Catalysts | |
| Hydrotreating Catalysts | |
| Hydrocracking Catalysts | |
| Isomerization Catalysts | |
| Alkylation Catalysts |
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| ASEAN Countries | |
| Rest of Asia-Pacific |
Asia-Pacific Refining Catalysts Market Size Summary
The Asia-Pacific refining catalysts market is poised for substantial growth over the forecast period, driven by increased investments in refineries across the region. The market is characterized by the dominance of the zeolites segment, which holds the largest market share due to its extensive application in various refining units, particularly in fluidized catalytic cracking (FCC) units. These catalysts are crucial for converting crude oil into lighter, high-value products such as diesel, jet fuel, and gasoline. Despite the promising growth trajectory, the market faces challenges from the volatility in precious metal prices, which could impede its expansion. China is anticipated to lead the market, benefiting from its significant refinery capacity and rapid growth rates, supported by major national oil companies like PetroChina and Sinopec.
The FCC process is integral to the refining industry, facilitating the transformation of various feed types into valuable products through the use of catalysts in fine powder form. The introduction of zeolite catalysts in the 1960s marked a significant advancement in catalytic cracking, enhancing the efficiency and effectiveness of the FCC process. China's robust refinery capacity, coupled with ongoing projects like Zhejiang Petrochemical's complex and Risun Coal Chemicals' refinery in Hebei, underscores the country's pivotal role in the market. The Asia-Pacific refining catalysts market is consolidated, with key players such as BASF SE, Albemarle Corporation, Haldor Topsoe A/S, Sinopec, and W. R. Grace & Co.-Conn. driving competition and innovation in the sector.
Asia-Pacific Refining Catalysts Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Investment in Refineries
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Volatility in Precious Metal Prices
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Ingredient
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2.1.1 Zeolite
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2.1.2 Metal
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2.1.3 Chemical Compounds
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2.2 Type
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2.2.1 Fluid Catalytic Cracking Catalysts
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2.2.2 Reforming Catalysts
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2.2.3 Hydrotreating Catalysts
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2.2.4 Hydrocracking Catalysts
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2.2.5 Isomerization Catalysts
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2.2.6 Alkylation Catalysts
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2.3 Geography
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 South Korea
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2.3.5 ASEAN Countries
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2.3.6 Rest of Asia-Pacific
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Asia-Pacific Refining Catalysts Market Size FAQs
What is the current Asia-Pacific Refining Catalysts Market size?
The Asia-Pacific Refining Catalysts Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Refining Catalysts Market?
BASF SE, Albemarle Corporation, Haldor Topsoe A/S, Sinopec (China Petroleum & Chemical Corporation) and W. R. Grace & Co.-Conn. are the major companies operating in the Asia-Pacific Refining Catalysts Market.
