Wilmington, Delaware, United States, March 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – Fluid catalytic cracking (FCC) catalyst decreases the activation energy in the petroleum refining process by improving the speed of chemical reactions. FCC catalysts are utilized in procedures for the conversion of hydrocarbon fractions with a high molecular weight into useful petroleum products such as gasoline and olefinic gases.
The global FCC Catalyst Market is anticipated to grow at a CAGR of 3.7% during the forecast period from 2022 to 2031.
FCC catalysts have helped improve the operating efficiency of the process to convert hydrocarbon fractions into petroleum products. The catalyst is used in small particles called microspheres, which contain both active components and non-zeolite components.
Some of the functions performed by FCC catalysts include dilution of zeolite function and offering improved porosity for ease of regeneration of zeolite, and maintaining stability against heat and mechanical wear.
New product launches are helping leading players to create new revenue streams and in gaining an edge over other players. In March 2021, W. R. Grace & Co-Conn. announced the launch of new FCC catalysts and additives, which have proven beneficial in cracking the hydrocarbon chains in distilled crude oil to manufacture transportation fuels such as diesel, gasoline, and petrochemicals.
Prominent FCC Catalyst Market players are collaborating with other players to expand their presence and increase revenue.
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Market Snapshot:
| Market Revenue | USD 2.8 Bn | |
| Estimated Value | USD 3.9 Bn | |
| Growth Rate - CAGR | 3.7 | |
| Forecast Period | 2022–2031 | |
| No. of Pages | 244 Pages | |
| Market Segmentation | By Process, and Application | |
| Regions Covered | North America, Latin America, Europe, Asia Pacific, Middle East & Africa | |
| Format | Electronic (PDF) + Excel | |
Key Findings of Market Study
- Increase in Demand in Refineries: FCC catalysts are witnessing steady rise in demand in refineries worldwide, which has propelled business growth. Leading manufacturers are expanding the capacities of refineries to increase production of diesel and gasoline in a bid to meet consumer requirements in different end-use industries. Rise in production of gasoline and diesel is driving the demand for FCC catalysts.
- Rise in Vacuum Oil Usage: Based on application, the global market has been bifurcated into vacuum gas oil and residue. The vacuum gas oil segment accounted for dominant market share few years ago. Increase in product usage to extract lubricating oil, heavy aromatics, and long-chain n-paraffin propelled the segment.
FCC Catalyst Market - Key Drivers
- Increase in demand for clean fuel products for industrial and commercial applications is driving the FCC Catalyst Market
- Rapid urbanization, especially in developing economies, is fueling the demand for petroleum products and bolstering FCC Catalyst Market development
- Continuous expansion in the global oil & gas industry is expanding FCC Catalyst Market size
FCC Catalyst Market - Regional Insights
- Asia Pacific is anticipated to account for dominant market share during the forecast period due to increase in demand for petroleum-based transportation fuels in both developed and developing countries such as China and India
- Middle East & Africa is expected to witness significant growth during the forecast period due to increase in production of light distillate petroleum products and rise in petroleum usage in the automobile industry in countries such as Saudi Arabia
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Key Points from TOC:
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Key Facts and Figures
1.4. Trends Impacting Market
1.5. TMR’s Growth Opportunity Wheel
2. Market Overview
2.1. Market Segmentation
2.2. Key Developments
2.3. Market Definitions
2.4. Key Market Trends
2.5. Market Dynamics
15. Competition Landscape
16. Primary Research: Key Insights
17. Appendix
TOC Continued……
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The global FCC Catalyst Market is segmented as follows:
Process
- Gasoline Sulfur Reduction
- Maximum Light Olefins
- Maximum Middle Distillates
- Maximum Bottoms Conversion
- Others (low coke production)
Application
- Vacuum Gas Oil
- Residue
- Others (including cycle oil)
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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