Global Hydrotreating Catalyst Market size was valued US$ X.97 Mn in 2019 and the total revenue is expected to grow at X.4% through 2020 to 2026, reaching US$ X.44 Mn. The report has covered region wise market trends with competitive landscape.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Hydrotreating Catalyst Market Dynamics
Globally, refineries are striving to meet the growing demand for cleaner fuels with lower sulfur content and emission of a smaller amount of polluting substances to the atmosphere by their production and combustion while ensuring cost-efficient operations. Hydrotreating is a primary process in refineries, which is utilized to remove sulfur and nitrogen contaminants from diesel, gasoline, and jet fuel. Hydrotreating catalysts for all crude oil fractions, allowing refineries to meet product specifications at a low cost and with higher profits. Hydrotreating catalysts are produced by coating alumina extradites with potentially active metals such as cobalt, nickel, molybdenum, and tungsten.
The global hydrotreating catalysts market is driven by the stringent environmental regulations in emerging economies to reduce the number of sulfur oxide emissions from the burning of crude oil. Increasing investment in oil refineries and increased demand for crude oil are likely to propel the hydrotreating catalysts market growth in the coming years. However, an ongoing shift toward electric vehicles led by concerns about environmental protection may hamper the market growth at a global level.
Global Hydrotreating Catalyst Market Segment Analysis
The zeolites segment has led the global hydrotreating catalysts market in 2019
The MMR report covers the detailed analysis of the global hydrotreating catalysts market by load type, material, application, and region.
Global Hydrotreating Catalyst Market
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Based on material, the zeolites segment has led the global hydrotreating catalysts market in 2019 and is expected to reach US$ XX Mn by 2026, with a CAGR of XX%. zeolites is used as catalysts in the petrochemical industry, where they’re used in catalytic crackers to break large hydrocarbon molecules into gasoline, diesel, kerosene, waxes and all kinds of other byproducts of petroleum.
Global Hydrotreating Catalyst Market Regional Insight
Global Hydrotreating Catalyst Market1
Asia Pacific is expected to grow at a CAGR of XX% during the forecast period
In term of value, Asia Pacific is expected to grow at a CAGR of XX% during the forecast period thanks to the growing population, increasing industrialization, strict government norms, and environmental regulations in the region. The increasing developments in capacities of oil production in oil refineries of developing countries are driving the demand for hydrotreating catalysts in the region during the forecast period.
Emerging economies such as China and India are the leading contributor to the regional market. The rising number of private sector companies has played a vital role in promoting the refining industry in the developing countries especially in India. Reliance operated Jamnagar refinery complex in Gujarat had a capacity of 1.2 Mn barrels per day in 2019, which was the largest refinery in the world. China is a prominent country in refinery, which is accounted for more than a 40% share of the region. China’s refinery capacity accounts for more than 14% of the world’s refining capacity.
In terms of revenue, Middle East & Africa is estimated to hold the largest market share of XX% by 2026. Saudi Arabia, Iran, UAE, Iraq, and Turkey are the leading contributor to the regional market growth, which are accounted for more than 76% of the total refining capacity of the region in 2019.
The report also helps in understanding Global Hydrotreating Catalyst Market dynamics, structure by analyzing the market segments and project the Global Hydrotreating Catalyst Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Hydrotreating Catalyst Market make the report investor’s guide.
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Global Hydrotreating Catalyst Market2
Global Hydrotreating Catalyst Market, by Region:
• Asia Pacific
• North America
• South America
• Middle East Africa
Global Hydrotreating Catalyst Market, Major Players:
• Haldor Topsoe A/S
• Axens S.A.
• Johnson Matthey PLC
• Albemarle Corp.
• Grace Davison
• Honeywell International Inc.
• W.R Grace
• China Petroleum & Chemical Corporation
• Exxon Mobil Corporation
• Royal Dutch Shell
• W. R. Grace & Co.-Conn
• JGC C&C
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