Global Fluid Catalytic Cracking Catalyst Market: Overview

Fluid catalytic cracking (FCC), a type of secondary unit operation, is primarily used to produce additional gasoline in the refining process. Fluid catalytic cracking is a chemical process that utilizes a catalyst and heat to break long-chain hydrocarbons into smaller-chain hydrocarbons. Typical products include gasoline, distillate, butane, and propane fuels. Currently, FCC produces most of the world's gasoline, as well as an important fraction of propylene for the polymer industry.

Rapid urbanization coupled with significant expansion of the chemical industry in developing countries, such as China and India, has driven the demand for petroleum products, which in turn boosts the demand for fluid catalytic cracking catalyst market. Moreover, a rise in the demand for ultra-low sulfur content diesel and aviation fuel is another major factor driving the demand for fluid catalytic cracking, which in turn ultimately is propelling the demand for fluid catalytic cracking catalysts. Emphasis on the reduction of operation cost of the petroleum refining process has made fluid catalytic cracking a highly preferred alternative for the cracking of petroleum fractions, which in turn is driving the demand for market. Additionally, several governments across the globe are increasing their investments in petroleum refining activities in order to cater to the rise in demand, which in turn is boosting the market. However, high investment as well as operational costs are expected to hamper the fluid catalytic cracking catalyst market. Furthermore, a decline in the demand for gasoline in Europe and North America is also restraining the market.

Global Fluid Catalytic Cracking Catalyst Market: Key Segments

The global fluid catalytic cracking catalyst market can be segmented based on type, technical configuration, and region. In terms of type, the market has been classified into lanthanum oxide and zeolite. Based on configuration, the market can be segregated into side-by-side type and stacked type. Stacked-type FCC catalysts comprise the catalyst generator and reactor within a single vessel with a regenerator below the main reactor, while side-by-side FCC catalysts contain these components individually in separate vessels.

In terms of region, the global fluid catalytic cracking catalyst market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the global fluid catalytic cracking catalyst market in 2017. The market in the region is projected to expand at a notable CAGR during the forecast period. Rise in refining activity coupled with developed end-use industry in the region has impelled the demand for fluid catalytic cracking catalyst. China is expected to dominate the fluid catalytic cracking catalyst market in Asia Pacific, followed by India and Japan, during the forecast period.

The Ratnagiri refinery in India has a significantly high planned FCC capacity of 312 Mbpd. The refinery is expected to start operations in 2022 with a total capex of US$ 40 billion. Indian Oil Corporation Ltd is the operator of the refinery. The Dayushan Island refinery in China has the second-highest planned FCC capacity of 304 Mbpd. In Middle East & Africa, GCC countries are major producers and exporters of the crude oil and refined products. Hence, the fluid catalytic cracking catalyst market in the sub-region is expected to expand significantly during the forecast period. Europe is a mature market for FCC catalyst. The economic slowdown in Eastern Europe led to the sluggish expansion of the fluid catalytic cracking catalyst market in the sub-region.Hence, the market is expected to expand at a steady pace in Europe during the forecast period.

Global Fluid Catalytic Cracking Catalyst Market: Key Players

Key companies operating in the global fluid catalytic cracking catalyst market include The Linde Group, BASF SE, Toyo Engineering India Private Limited, Flour Corporation, Larsen & Toubro Limited, Honeywell International Inc., Axens, Amec Foster Wheeler, Shell group, Albemarle Corporation, W.R. Grace Company, Exxonmobil, Chevron Lummus Global, CB&I Company, Sinopec Ltd., Eurecat Group, JGC Catalysts and Chemicals (Beijing) Ltd. and Johnson Matthey PLC.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Fluid Catalytic Cracking Catalyst Market

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