"The
Report Refinery Catalysts: Market Shares, Strategies, and Forecasts,
Worldwide, 2017-2023 provides information on pricing, market
analysis, shares, forecast, and company profiles for key industry
participants. - MarketResearchReports.biz"
MarketResearchReports.biz
announces a new addition to its growing online market intelligence
repository. The report discusses the global refinery catalysts market
in detail, giving a comprehensive overview for interested market
participants. The economic, geographical, and competitive dynamics of
the global refinery catalysts industry are assessed in the report,
which helps provide readers a complete picture of the market. The
report is titled ‘Refinery
Catalysts:
Market Shares, Strategies, And Forecasts, Worldwide, 2017-2023.’
According
to the report, the global refinery catalysts market had a valuation
of close to US$5 bn in 2016. Exhibiting a steady growth rate of 3.8%
from 2017 to 2023, the market is expected to rise to close to US$6.5
bn by the end of 2023.
The
refinery catalysts industry has exhibited steady growth in the last
few years due to the increasing pressure on refineries to deliver
high-quality petroleum derivatives despite the declining quality of
the extracted feedstock. Fluid catalytic cracking is becoming popular
in petroleum refineries due to its benefits over conventionally
popular thermal cracking methods, which is likely to drive the demand
for refinery catalysts in the coming years.
The
rising need to produce cleaner fuels is a key driver for the global
refinery catalysts market. Conventional fossil fuels such as petrol
and diesel have caused near-insurmountable damage to the ecosystem
and have been a contributing factor in a range of climate issues
across the world. Due to this, the composition of fuels is being
scrutinized in several countries, with governments now keen to
minimize the damage caused by the unavoidable use of fossil fuels.
Toxic and polluting ingredients such as sulfur and nitrogen oxides
are being regulated against, which allows the fuel to burn longer and
without causing significant damage. The important role played by
refinery catalysts in the removal of such ingredients will ensure
steady demand from the global refinery catalysts market in the coming
years.
Ultra-low-sulfur
diesel (ULSD) is a prime component of the clean fuel landscape and
production of the same is likely to contribute significantly to the
global refinery catalysts market. However, production of ULSD with
advanced refinery catalysts requires a higher and more expensive
grade of crude oil than the one use in the production of regular
diesel. This could become an important driver for the global refinery
catalysts market in the coming years.
On
the other hand, the high costs of upgrading existing refineries to
suit modern production methods could be a deterrent factor on the
global petroleum industry’s growth and could thus adversely affect
the refinery catalysts industry. Many leading petroleum operators
have refineries built entirely to suit conventional cracking methods,
which will increase the cost of petroleum refining in the coming
years. The rise of the alternative fuels industry could also be a
restraint on the global refinery catalysts market in the coming
years, as several governments are supporting expansion of sectors
such as solar, wind, and tidal energy.
View Press Release @
http://www.marketresearchreports.biz/pressrelease/4267
The
report examines the competitive landscape of the global refinery
catalysts market by profiling the leading players operating in it.
Information about the movement of key players such as Haldor Topsoe,
BASF, Clariant AG, Sinopec China Petrochemical Corporation, Dow,
Chevron, Air Products, Nanostellar, Zeochem, Shell, Evonik
Industries, ExxonMobil Catalysts and Licensing LLC, and Indian Oil
Corporation helps provide a detailed analysis of the financial
breakdown of the global refinery catalysts market.
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