Europe Refining Catalysts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe Refining Catalysts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Europe refining catalysts market is estimated to witness a significant growth, at an estimated CAGR of over 2.5%, over the forecast period. Accelerating demand for higher octane fuels are expected to drive the market during the forecast period.

Key Highlights

• 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.
• Shifting focus toward nanocatalysts is likely to create opportunities to the market growth in the coming years.

Key Market TrendsFluid 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.

Russia to Dominate the Market

• Approximately 20% of the GDP of the Russian economy is related to the oil & gas market, which has been highly volatile in the recent times.
• Germany imports crude oil majorly from Russia. Owing to the increasing exports from the country, the demand for oil in the country has witnessed a significant rise.
• The increase in demand for refining catalysts can be attributed to new optimizing technologies, and the debottlenecking of the existing refining complexes.
• Due to the above-mentioned factors, the market for refining catalysts in the country is projected to grow during the forecast period.

Competitive Landscape

The Europe refining catalysts market is consolidated in nature. Key players in the market include BASF SE, Albemarle Corporation, Haldor Topsoe A/S, and W. R. Grace & Co.-Conn., among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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