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Home > Press > Market Research Forecasts Refinery Catalyst Market at $4 Billion in 2018

Abstract:
MarketResearch.com has announced the addition of the new report "Refinery Catalyst Market Shares, Strategies, and Forecasts, Worldwide, 2012 to 2018" to their collection of Petroleum market reports. For more information, visit www.marketresearch.com/Wintergreen-Research-v739/Refinery-Catalyst-Shares-Strategies-Forecasts-6858844/

Market Research Forecasts Refinery Catalyst Market at $4 Billion in 2018

Rockville, MD | Posted on March 27th, 2012

The rapidly increasing demand for gasoline and diesel has increased the requirement for raw materials for their production. The limited supply of raw materials increases the overall cost of production.

Reforming catalysts are fundamental to the modernization of product reformate. They contain hydrocarbons with more complex molecular shapes having higher octane values than the hydrocarbons in the naphtha feedstock. The process separates hydrogen atoms from the hydrocarbon molecules and produces significant amounts of byproduct hydrogen gas.

Hydrogen is useful for fuel cells, meaning that refineries could become environments for generating electricity. Hydrogen is useful in stationary fuel cells that are evolving a market for providing local power in campus environments. Local power generation is becoming more valued as people realize that the cost of conditioning electricity for the grid is an unnecessary expense in local power environments.

Stationary fuel cells represent the base for distributed power generation worldwide. No more new coal plants, no mare extensions to the grid. Distributed power has become mainstream. Distributed generation (DG) refers to power generation at the point of consumption. The use of hydrogen and the manufacture of hydrogen in refinery environments could become significant aspect of markets.

According to Susan Eustis, the lead author of the study, "These factors have attracted manufacturers to refinery catalysts, as these help extract relatively more diesel and gasoline from the same amount of crude oil. The refinery catalyst market is thus boosted by the fact that the efficient use of catalysts can help the manufacturers' better address the increasing energy demand. Hydroprocessing faces significant challenges as crude feeds get heavier; there will be more sulphur and nitrogen to extract; more aromatics to saturate; more metals to remove; and more coke to deal with. Refiners have ageing facilities, which may not be designed and optimized to meet new challenges."

Generating power on-site, rather than centrally, eliminates the cost, complexity, interdependencies, and inefficiencies associated with transmission and distribution. Like distributed computing (i.e. the PC) and distributed telephony (i.e. the mobile phone), distributed power generation shifts control to the consumer.

As more capital investment is needed, costs for refining fossil fuels will rise, stimulating markets for renewable energy, making them more competitive with fossil fuels.

Refinery catalyst markets at $3.3 billion in 2011 are anticipated to reach $4.3 billion in 2018. Market growth comes in large part from demand for cleaner diesel fuel and the availability of newer technology and nanotechnology. Hydrotreating catalysts will continue to achieve the best growth in the petroleum refining market, aided by the increasingly sour nature of the crude petroleum supplied to the market. Efforts by Brazil, China, India and Russia to improve their air quality by the introduction of low-sulfur fuels are ongoing. Hydrocracking and fluid catalytic cracking (FCC) catalysts achieve advances, particularly in Asia as the growing motor vehicle fleet stimulates new gasoline and diesel fuel demand.

For more information, visit www.marketresearch.com/Wintergreen-Research-v739/Refinery-Catalyst-Shares-Strategies-Forecasts-6858844/

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About MarketResearch.com
MarketResearch.com is the leading provider of global market intelligence products and services. With research reports from more than 720 top consulting and advisory firms, MarketResearch.com offers instant online access to the world's most extensive database of expert insights on global industries, companies, products, and trends. Moreover, MarketResearch.com's Research Specialists have in-depth knowledge of the publishers and the various types of reports in their respective industries and are ready to provide research assistance.

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MarketResearch.com
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