Market Trends of Middle-East and Africa Refining Catalysts Industry
This section covers the major market trends shaping the MEA Refining Catalysts market according to our research experts:
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.
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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.
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