(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Apr 19, 2021, 05:16 /Comserve / -- Asia and Middle East FCC Catalyst Market Opportunities, Size, Share, Emerging Trends, Technological Innovation, Forecasts & Regional Analysis ( Asia Pacific & Middle East)
Asia and Middle East FCC Catalyst Market: Overview
- Fluid catalytic cracking (FCC) catalyst enhances the rate of chemical reaction by reducing the activation energy. FCC catalyst is employed in petroleum refining operations to convert high-boiling, high-molecular weight hydrocarbon fractions of petroleum crude oils into more valuable petroleum products such as olefinic gases, gasoline, and other products. FCC catalyst is available in two sizes: 69 mm and 22 μm.
- Demand for FCC catalysts in oil refinery has been rising over the last few years, owing to the implementation of stringent regulations on fuel across Asia and the Middle East
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Expansion of Refinery Capacity to Drive Asia and Middle East FCC Catalyst Market
- Demand for value added petroleum products, such as gasoline and diesel, has been rising consistently over the last few years. Rise in purchasing power, improvement in standard of living, strong economic growth, and rapid urbanization are some of the major factors stimulating the demand for petroleum products, primarily in developing countries such as India and China.
- Refiners are making several investments in expansion and new construction of refinery facilities to meet the rising demand for petroleum products
- Increase in investments in expansion of the existing refinery capacities or establishment of new petroleum refineries is likely to boost the FCC catalyst market during the forecast period. Demand for FCC catalyst is directly linked with FCC units, which are primarily used in the production of gasoline in the refining process.
Rise in Demand for Synthetic Zeolites to Boost FCC Catalyst Market in Asia and Middle East
- Zeolites are hydrated aluminosilicates of alkaline and alkaline-earth metals. Synthetic zeolites are manufactured by using FCC catalyst due to the shortage of zeolites.
- Synthetic zeolites manufactured by using FCC catalysts are widely employed to convert high-boiling, high-molecular-weight hydrocarbon fractions of petroleum crude oils into more valuable products such as gasoline and olefinic gases
- Thus, rise in demand for production of synthetic zeolites is anticipated to boost the demand for FCC catalyst in Asia and the Middle East
- Synthetic zeolites are also employed in various applications such as water softeners, water purification products, refrigerators, laundry detergents, air brakes on trucks, automobile air-conditioning, and insulated windows. This provides lucrative opportunities for manufacturers of FCC catalysts.
Asia and Middle East FCC Catalyst Market Outlook
- Asia dominated the FCC catalyst market in 2018 . China constituted a leading share of the FCC catalyst market in the region in the year. Growth of the FCC catalyst market in China can be primarily ascribed to the ongoing investments in refurbishment & expansion of oil refinery capacities. For instance, in June 2020 , the Government of China approved the Shandong Yulong Petrochemical project worth US$ 20 Bn . The project is expected to become operational by 2024. The Shandong Yulong Petrochemical project entails an ethylene plant with production capacity of 3 million tons per year and a petroleum refinery with capacity to process 400,000 barrels per day.
- India was another leading country of the FCC catalyst market in Asia in 2018 . The FCC catalyst market in India is anticipated to expand, owing to the increase in efforts to reduce dependence on imported fuel and thereby enhance national energy security.
- The FCC catalyst market in the Middle East is estimated to expand at a rapid pace during the forecast period. Saudi Arabia held significant share of the FCC catalyst market in the Middle East in 2018. Dominance of Saudi Arabia in the FCC catalyst market in the Middle East can be ascribed to the increase in demand for light distillate petroleum products in the country. Rise in demand for automobiles and ongoing industrial development in Saudi Arabia are projected to drive the demand for crude refinery products in the country. As per Statista, oil consumption in Saudi Arabia increased from 136.6 million metric tons (MMT) in 2010 to 158.8 million metric tons in 2019 .
Recent Developments, Expansions, Acquisitions, and New Contracts
- In January 2019, Clariant International Ltd. announced plans to expand its EnviCat series of catalysts. It would offer selective catalytic reduction (SCR) to combat nitrogen oxides (NOx).
- In September 2018 , China Petroleum & Chemical Corporation's wholly owned subsidiary Sinopec Catalyst Company (SCC) signed two key agreements with Clariant Qatar W.L.L. The agreement comprises fluid catalytic cracking (FCC) agency agreement between the two companies. Clariant Qatar W.L.L entered into this agreement to expand its business portfolio in Middle East & Africa
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Highly Competitive Asia and Middle East FCC Catalyst Market
- The FCC catalyst market in Asia and the Middle East is highly competitive with the presence of large numbers of players operating at local and regional levels
- Key players operating in the FCC catalyst market in Asia and the Middle East include
- W. R. Grace & 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
Asia and Middle East FCC Catalyst Market Scope of the Report
The latest study collated and published analyzes the historical and present day scenario of the FCC catalyst market in Asia and the Middle East to accurately gauge its potential development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating landscape for the growth of the FCC catalyst market in Asia and the Middle East to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the FCC catalyst market in Asia and the Middle East will progress during the forecast period of 2019 to 2027.
The report offers intricate dynamics about the different aspects of the FCC catalyst market in Asia and the Middle East that aid companies operating in the market in making strategic development decisions. The study also elaborates on the significant changes that are anticipated to configure the growth of the FCC catalyst market in Asia and the Middle East during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the FCC catalyst market in Asia and the Middle East, and estimate statistics related to the market progress in terms of value (US$ Mn) and volume (kilo tons).
This study covers a detailed segmentation of the FCC catalyst market in Asia and the Middle East, along with key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the FCC catalyst market in Asia and the Middle East, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in the Report on Asia and Middle East FCC Catalyst Market
The report provides detailed information about the FCC catalyst market in Asia and the Middle East on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in Asia and Middle East FCC catalyst, so as to help them make successful strategies and take target-driven decisions.
- Which product type of FCC catalyst will emerge as a major revenue generator for the market during the forecast period?
- Which application is expected to have maximum potential for FCC catalyst market during the foreseeing period?
- How are key market players successfully earning revenues in the competitive FCC catalyst market in Asia and the Middle East?
- What will be the Y-o-Y growth of the FCC catalyst market in Asia and the Middle East during the forecast period?
- What are the winning imperatives of market frontrunners in the FCC catalyst market in Asia and the Middle East
Research Methodology Asia and Middle East FCC catalyst Market
The research methodology adopted by analysts for combining the FCC catalyst market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the FCC catalyst market in Asia and the Middle East.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the FCC catalyst market in Asia and the Middle East.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the FCC catalyst market in Asia and the Middle East.
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