Growth within the refinery catalyst market looks set to be driven predominantly by the demand for cleaner diesel fuel, along with the availability of newer technology and nontechnology.
The refinery catalyst market was valued at $3.3 billion in 2011, and is forecast to be worth a total market value of $4.3 billion by 2018.
The benefits of refinery catalysts are attracting an increasing number of petroleum refineries and thus boosts the demand.
Global refinery catalyst markets look set to achieve steady growth as countries impose stricter environmental controls on the manufacture and use of fossil fuels.
Hydrotreating catalysts will continue to achieve the best growth in the refinery catalyst refining market, aided by the increasingly sour nature of the crude petroleum supplied to the market.
Efforts by Brazil, China, India and Russia to improve their air quality by the introduction of low-sulfur fuels are ongoing. Hydrocracking and fluid catalytic cracking (FCC) catalysts achieve advances, particularly in Asia as the growing motor vehicle fleet stimulates new gasoline and diesel fuel demand.
EMEA has a large refinery catalyst market, mainly due to the presence of major oil producing countries in the region such as Saudi Arabia and Iraq. EMEA is expected to account for 33% of the global refinery catalyst market in 2015. The APAC refinery catalyst market is expected to be worth $921.4 million in 2015, increasing from a value of $723.9 million in 2009.
For more information on the refinery catalyst market, see the latest research: Refinery Catalyst Market Report
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