Refinery Catalyst Market Estimated to Expand at a Double-Digit CAGR through 2026Posted by vakhas on March 26th, 2020 Continued dependence on petroleum derivatives for energy and rising crude oil refining capacity expansion activities are expected to drive the growth of the refinery catalyst market over the coming years. The market is projected to grow at a CAGR of 4% and reach a value of US$ 10 Bn in 2026. Asia Pacific and the U.S. are estimated to dominate the global refinery catalyst market, accounting for 60% of the total global growth, which grew by 0.8% from 2017 to 2018. Countries contributing to overall growth are:
“Globally, the demand for refining products has been growing at a constant rate over the past decade, unfazed by the slump in crude oil prices, due to the dependence of a number of end-use industries on them. With crude oil prices stabilizing and investments flowing in for expansion projects, the refinery catalyst market is projected to experience favorable growth through 2027.” Get Rquest a Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-11168 Key Takeaways of Refinery Catalyst Market Study
On the regional front, Asia Pacific is projected to hold a dominant share in the global refinery catalyst market, accounting for more than 40% of the total market share. The growth in the regional market is driven by demand from China and India. Refinery Catalyst Market Competitive Landscape The global refinery catalyst market is fairly consolidated, with a few global players dominating the manufacturing and supply of refinery catalysts. High cost of raw materials, high manufacturing costs, and established foothold of existing manufacturers are some of the barriers faced by new players when entering the refinery catalyst market. Some of the key global players in the refinery catalyst market profiled include Albemarle Corporation, Axens S.A., W.R. Grace & Co, Clariant International Ltd., ExxonMobil Corporation, and Haldor Topsoe A/S, who account for more than 60% of total market share. Get Full Access of the Report @ https://www.futuremarketinsights.com/press-release/refinery-catalyst-market More Valuable Insights on Refinery Catalyst Market The recent market report published by Future Market Insights (FMI) on the global refinery catalyst market provides insightful analysis on historical market trends for the period of 2013–2018, and future growth projections and forecasts for the stipulated period of 2019-27, by product, ingredient, and five geographical regions. The refinery catalyst market report details key market trends, drivers, restraints, and macro-economic factors impacting market growth. Incremental $ opportunity, BPS variation, Y-o-Y growth, and market attractiveness index for each segment and region are provided in detail to provide a clear understanding of the growth of the global refinery catalyst market. Like it? Share it!More by this author |