COVID-19 Impact on Global FCC Additives Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- The outbreak of the COVID-19 pandemic has led to disturbance in the supply chain due to the global lockdown in several countries. The spread of the coronavirus has led to a fall in demand for chemical intermediates due to uncertainty in the global economy and capital markets.
- The growth of FCC additives has been hampered due to the COVID-19 pandemic and nationwide lockdown of several non-essential activities and manufacturing facilities. However, the market is anticipated to expand at a healthy pace during the forecast period due to the acceptance of new normal conditions and restart of end-use industries in various countries.
Key Drivers and Restraints of FCC Additives Market
- Demand for FCC additives is expected to increase at a significant pace during the forecast period due to the rise in usage of FCC catalysts and additives in the production of vacuum glass oil. Additionally, increase in usage of FCC additives for the production of propylene in the petrochemical industry is driving FCC additives market.
- Physical hazards caused by FCC additives under extremely high temperatures and dust formation restrict the growth of the FCC additives market
FCC Additives Market: Type Segment
- Based on type, the FCC additives market can be divided into octane number improving agent, light olefins enhancing agent, sulfur reducing agent, metal passivation agent, and others
- The octane number improving agent segment dominates the global FCC additives market
- Octane number of fuels can be improved by addition of octane number improving agents
FCC Additives Market: Application Segment
- In terms of application, the FCC additives market can be classified into vacuum gas oil, residue, and others
- The vacuum gas oil segment dominates the global FCC additives market
- In an oil refinery, FCC additives convert heavy gas oil (HGO), vacuum gas oil (VGO), or residue feedstock into useful products
Asia-Pacific to Hold Leading Share of Global FCC Additives Market
- In terms of region, the FCC additives market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global FCC Additives market, followed by North America and Europe, during the forecast period
- China and India is dominate the FCC additive market in Asia Pacific
- Rise in investments in crude refineries in Asia Pacific is driving the market in the region. In terms of refinery capacity, India-based Reliance Industries constitutes a larger share of the market as compared to other refineries across the globe.
Key Manufacturers Operating in Global FCC Additives Market
The FCC additives market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the FCC additives market include:
- Johnson Matthey (Interact)
- JGC C&C
- Inprocat Corporation
- Yueyang Sciensun Chemical
- Grace Catalysts Technologies
FCC Additives Market: Research Scope
FCC Additives Market, by Type
- Octane Number Improving Agent
- Light Olefins Enhancing Agent
- Sulfur Reducing Agent
- Metal Passivation Agent
FCC Additives Market, by Application
- Vacuum Gas Oil
Global FCC Additives Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
FCC Additives Market: Introduction
- Fluid catalytic cracking (FCC) additives are injected in small quantity into FCC units for enhancing the specific yields, product quality, and reducing the emission from refrigerators
- Zeolite molecular sieve is the main component of FCC additives. Platinum metal and palladium metal are some other ingredients that are present in FCC additives.
- Major raw materials used for the manufacture of FCC additives are kaolin and sodium aluminate
- FCC additives allow refiners to optimize product selectivity and cost-effectively conform to environmental regulations without a large catalyst overhaul
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