The global FCC catalyst market is predicted to benefit from growing investments to improve oil or petroleum refining processes. The rising demand for FCC catalyst to help increase the production of high-value fuels and petrochemicals at refineries could add to the overall growth of the global market. FCC catalysts could also help refiners to improve their liquid product yields. High investments in new sustainable petrochemical plants and strong demand for synthetic zeolites are also anticipated to contribute to the growth of the global FCC catalyst market.
Increasing Demand for High Octane Fuel Anticipated to Create Opportunities for Players
The rising number of government measures to reduce the ill effects of harmful vehicle emissions on the environment and human health is expected to increase the use of FCC catalyst in gasoline sulfur reduction. The oil and gas industry is already under a lot of pressure to reduce its greenhouse gas emissions, including carbon dioxide, nitrous oxide, and methane. The growing demand for high-octane, low-sulfur gasoline and need of refiners to boost gasoline alkylate production with increase in butylene yields are anticipated to strengthen the growth of the global FCC catalyst market.
Need to Conform to Tight Gasoline Standards Likely to Increase Need for Gasoline Sulfur Reduction
On the basis of type, the global FCC catalyst market is segmented into gasoline sulfur reduction, maximum bottoms conversion, maximum middle distillates, maximum light olefins, and others. The report also includes deeper analysis of application segments of the global FCC catalyst market, viz. residue, vacuum gas oil, and others. The demand for FCC catalyst technology solutions for gasoline sulfur reduction is expected to improve with the rising need to reduce air pollution and increase the effectiveness of emission control systems. The implementation of stringent gasoline and clean gas standards could also add to the demand for gasoline sulfur reduction FCC catalyst and additive technologies.
Aggressive Expansion of Oil Refining Capacities Expected to Increase Demand in Asia Pacific
Asia Pacific is anticipated to make a worthwhile contribution to the growth of the global FCC catalyst market mainly on the back of high oil refining capacities of key countries such as China, India, South Korea, Japan, and Singapore. Rising oil, natural gas, and energy consumptions due to rapid economic development and growth could increase the need for more investments in the oil or petroleum refinery sector of the emerging region. This is expected to augment the demand for FCC catalyst used in petroleum refineries.
Some of the leading companies operating in the global FCC catalyst market are Grace Catalysts Technologies, BASF, Albemarle, JGC C&C, Sinopec, CNPC, HCpect, and Yueyang Sciensun Chemical. Top three players are expected to account for over half of the total share of the global FCC catalyst market. The level of competition in the global FCC catalyst market could remain high during the forecast period 2019-2025. According to market analysts, players may adopt backward integration to increase their competitiveness and profit margins, ensure cost savings, and become more efficient.