Global Fluid Catalytic Cracking (FCC) Market Size study&Forecast, byType (Lanthanum Oxide, Zeolite) by Category (LVR-60, ORBIT-3600, CHV-1, RAG-7), by Technical Configuration (Side-By-Side Type, Stacked Type), by Application (Chemical, Others)and Regional

Global Fluid Catalytic Cracking (FCC) Market Size study&Forecast, byType (Lanthanum Oxide, Zeolite) by Category (LVR-60, ORBIT-3600, CHV-1, RAG-7), by Technical Configuration (Side-By-Side Type, Stacked Type), by Application (Chemical, Others)and Regional Analysis, 2022-2029

Global Fluid Catalytic Cracking (FCC) Market is valued at approximately USD 6.51 billion in 2021and is anticipated to grow with a healthy growth rate of more than 3.35% over the forecast period 2022-2029.Fluid Catalytic Cracking (FCC) is a secondary unit conversion process to produce added gasoline in the refining process. It is used in petroleum refineries to convert high-molecular and high-boiling point hydrocarbon fractionsof petroleum into gasoline and other petroleum products. This process breaks long-chain hydrocarbons into smaller-chain hydrocarbons with the help of catalysts and heat. The FCC unit converts Gas oil into lighter hydrocarbons that can be used as valuable transportation fuels. Additionally,the growing Petroleum and Refinery Industry and increasing transportation activities aredriving the market demand for Fluid Catalytic Cracking (FCC) globally.

The growingpetroleum and refinery industry is driving the market for Fluid Catalytic Cracking (FCC). In 2021, the global oil refinery capacity reached nearly 102 million barrels per day, the annual growth rate accounted to be 0.2%. FCC is useful in converting a heavy portion of crude oil feedstock into lighter petroleum products to be used as transportation fuelwhichhas increased fuel standardsand better operational efficiency.Increasing transportation activities surge the demand for products such asgasoline, and petroleum products to meet the fuel and power needs therefore this is expected to complement the catalytic cracking industry growth. For instance, the global demand for transportation fuel in Europe is anticipated to reach USD 16 billion by 2030. Moreover, continuous advancements in formulations and rising government investments in the transportation sector are the factors creating major market opportunities for Fluid Catalytic Cracking (FCC). . However, the high investment cost of Fluid Catalytic Cracking (FCC) stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Fluid Catalytic Cracking (FCC) Marketstudy includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market for Fluid Catalytic Cracking (FCC) due to the rising number of refining activitiesand higher investment within this region. The availability of inexpensive raw materialsand low labor costsis fueling the market demand for FCC. North America is anticipated to be the fastest-growing region over the forecast period. The driving factors for huge demand are wider availability and high consumption of petroleum-based products. Growing initiatives by the government and key market players in the petroleum industry aredriving the market for Fluid Catalytic Cracking (FCC).

Major market player included in this report are:
Albemarle Corporation
W. R. Grace and Co.
BASF SE
Fluor Corporation
McDermott International, Ltd
Shell Global Solutions US, Inc.
Chevron Lummus Global, LLC
Chicago Bridge & Iron Company
Axens SA.
Honeywell International Inc.

Recent Developments in the Market:
In July 2019, Indian Oil Corporation Ltd.assigned a agreement with McDermott International. This contract was signed to use INDMAX technology and provide technical services for FCC.
Global Fluid Catalytic Cracking (FCC) Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Category, Technical Configuration, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporatespotential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players.

The detailed segments and sub-segment of the market are explained below:
ByType:
Lanthanum Oxide
Zeolite
By Category:
LVR-60
ORBIT-3600
CHV-1
RAG-7
By Technical Configuration:
Side-By-Side Type
Stacked Type
By Application:
Chemical
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World Show more