The Global FCC Catalysts Market Is Worth USD 2.7 Billion In 2022 And Is Expected To Grow At A CAGR Of 3.5% From 2023 To 2030.

FCC Catalyst Market Overview:

An FCC catalyst is a substance that increases the rate of a chemical reaction by lowering the activation energy. FCC catalysts are based on zeolitic materials together with various binders and promoters. The FCC plays an important role in the petroleum industry. Because it converts heavy petroleum distillates into lighter hydrocarbon products within the reactor. It is commonly used for the scission of high molecular weight hydrocarbon chains in refinery processes, a process required to optimize the ratio of gasoline production. Based on product, the market is segmented into gasoline sulfur reduction, maximum bottoms conversion, maximum light olefins, maximum middle distillates, and others. In terms of application, the market is segmented into residual oil, vacuum gas oil, and others.

 FCC is a form of secondary unit operation that primarily allows the additional production of gasoline during petroleum refining. This chemical process uses a catalyst to convert heavy distillates into light distillates from gasoline and diesel.

FCC Catalyst market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global FCC Catalyst market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In March 2022, BASF SE launched Fourtitude, a new fluid catalytic cracking (FCC) catalyst designed to maximize the use of butenes in residual feedstocks. Fortitude provides excellent butene selectivity while maintaining catalyst activity.
• In July 2021, Albemarle, a global leader in specialty chemicals, announced the addition of ACTION + Catalyst technology to the company's cornerstone ACTION FCC family of catalysts following two successful commercial trials
• In June 2021, W. R. Grace & Co. announced plans to increase the prices of its fluid catalytic cracking (FCC) catalysts by 3% to 9%, depending on product type and specific customer commitments
• In July 2020, BASF commercially launched Altrium, a new fluid catalytic cracking (FCC) catalyst for light to heavy residue feedstocks. Altium combines BASF's latest Advanced Innovative Matrix (AIM) and proven IZY (Improved Zeolite-Y) technologies.
• In March 2020, BASF developed Fortune, a new FCC catalyst for gas oil feedstocks. The product is based on BASF's multi-framework topology (MFT) technology, which provides butene selectivity over propylene while maintaining catalyst activity.
• In January 2019, Clariant International Ltd announced plans to expand its EnviCat range of catalysts. It will provide selective catalytic reduction (SCR) to combat nitrogen oxides (NOx).

Major Segments Covered in the Global FCC Catalyst Market:

Market Key Players:
W. R. Grace and Co.-Conn, Albemarle Corporation, BASF SE, Haldor Topsoe A/S, JGC Catalysts & Chemicals Co., Ltd., China Petroleum & Chemical Corporation, Clariant International Ltd., ReZel Catalysts, Anten Chemical Co., Ltd., SINOCATA, Yueyang Sciensun Chemical Co., Ltd., Johnson Matthey (Interact), Sinopec, CNPC, Yueyang Sciensun Chemical, And Others.

FCC Catalyst Market by Types:

• Gasoline Sulfur Reduction
• Maximum Light Olefins
• Maximum Middle Distillates
• Maximum Bottoms Conversion
• Other

FCC Catalyst Market by Applications:

• Vacuum Gas Oil
• Residue
• Other

FCC Catalyst Market by Regions:

The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.

Asia Pacific is expected to dominate the global FCC catalyst market during the forecast period. China holds a significant share of the FCC catalyst market in 2021. The country is expected to maintain its leading share during the forecast period. The growth of the FCC catalyst market in China is primarily attributed to the continuous investments in refinery capacity refurbishment and expansion in the country. For example, in June 2020, the Chinese government approved the USD 20 billion Shandong Yulong petrochemical project. The project is expected to be put into operation in 2024. The Shandong Yulong petrochemical project includes a 3 million tons/year ethylene plant and a 400,000 barrels/day refinery.

India is another major country that will account for a significant share of the Asia Pacific FCC catalyst market in 2021. The country's FCC catalyst market is expected to grow over the forecast period owing to increased government efforts to reduce dependence on imported fuels thereby enhancing national energy security.

Significant Market Dynamics:

Drivers:

Rising demand for profitable products such as petroleum, olefinic gas, and gasoline products to meet expanding electricity and fuel demand is an important factor driving market growth, and is estimated to grow in industrial and transportation sectors as fuel consumption increases The soaring demand will also pave the way for the growth of the market. Catalysts are used in this chemical process to convert heavy distillates into light distillates, which create products such as gasoline and diesel. These factors are expected to complement the growth of the fluid catalytic cracking industry.

Furthermore, factors such as increasing fuel standards, increasing operational efficiencies, selectivity, and focus on 'green' resources are expected to drive the growth of the fluid catalytic cracking (FCC) market. Furthermore, globalization and expanding international trading practices have spawned a large number of industries that use rapidly depleting resources. Unit demand is likely to rise as global fuel consumption increases to meet rising demand from the transportation and industrial sectors.

Opportunity:

Moreover, rising government investments in oil refining activities to meet rising demand are providing market players with profitable opportunities over the forecast period 2022 to 2029. Additionally, technological upgrades and improvements in existing equipment will further expand the future growth of the fluid catalytic cracking (FCC) market.

Challenges:

High investment as well as operating costs associated with fluid catalytic cracking (FCC) are expected to hamper the growth of the fluid catalytic cracking (FCC) market. Additionally, another major concern for refinery operators is feedstock composition, which includes issues such as heat and profile balances, and contaminants. This factor will also hamper the market growth.

Report Scope of Global FCC Catalyst Market:

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
• The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

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Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.