North America Refinery Catalyst Market Forecast 2018-2026
KEY FINDINGS The North American region has a significant amount of crude oil and natural gas reserves. This ensures an easy raw material availability for refinery catalysts. As a result, the North American refinery catalysts market is expected to progress with 2.45% CAGR over the forecast period.
MARKET INSIGHTS The market is segmented on the basis of products, applications, and materials. The regional segmentation of the market is done into U.S, Canada and Mexico. The U.S. Senate has passed a National Renewable Fuel Standard program that is intended for promoting consumption and production of biofuels at a domestic level. Additionally, the government has also approved a Farm Bill that provides incentives to farmers who cultivate crops such as corn and soy for biofuels production. The U.S refinery catalyst market thus accounted for the highest share in terms of volume in 2017. However, it is the Canadian market that is expected to progress with the highest CAGR over the projected years.
COMPETITIVE INSIGHTS Companies like Johnson Matthey, Honeywell Uop, Albemarle Corporation, Evonik Industries Ag, PQ Corporation, Axens, Clariant, Unicat Catalyst Technologies Inc, Nippon Ketjen, Shell Global Solutions, Cb & I, Exxon Mobil Corp, Sinopec Catalyst Co., Criterion Catalyst & Technology, and W.R. Grace & Co are engaged in this market.