Heavy Oil Cracking Catalyst Market: Overview

  • Cracking catalysts such as alumina, silica, and zeolites are used in the petroleum refining process to refine heavy fuel oils into lighter, smaller, and simpler short-chain molecules of fuel
  • These cracking catalysts are used for cracking the residue; improving the gasoline yield; reducing the olefin content; and providing hydrothermal stability, resistance to heavy metal pollution, mechanical strength, and high heavy oil cracking ability

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Zeolite Catalysts to Gain Traction in Heavy Oil Cracking Catalyst Market

  • In terms of type, the global heavy oil cracking catalyst market can be segmented into alumina, silica, zeolites, and others. The zeolites segment is estimated to hold a major share of the global market in the near future.
  • Zeolite catalysts are widely used for light naphtha isomerization, olefin alkylation, reforming, cracking, and hydrocracking
  • Global demand for heavy oil cracking catalysts is anticipated to increase during the forecast period, owing to high usage of zeolites as catalysts in the refining & petrochemistry sector
  • Unique surface chemistry and low cost of mineral molecular sieve zeolites are factors projected to create scope for processing of highly contaminated heavy oils such as bitumen in the near future
  • Demand for zeolite catalysts in the refining of heavy oils is expected to increase in the next few years, due to the crystalline morphology of these catalysts that promotes high exterior surface area and low cost disposal. Thus, zeolite catalysts are highly preferred over other catalysts for use in the refining of heavy oils.
  • Furthermore, zeolite catalysts are gaining popularity among oil and petroleum refiners, as they are highly acidic in nature and possess an excellent characteristic of removal of nitrogen bases, associated heavy metals, and sulfur. This is estimated to propel the global heavy oil cracking catalyst market during the forecast period.

Adoption of New Heavy Oil Cracking Technologies to Boost Demand

  • Recently, rising incidences stating the worsening quality of crude oil have led to an emerging need for unconventional petroleum feedstocks such as heavy oils, bitumen, and residues. Thus, processing of such unconventional petroleum feedstocks has become increasingly important.
  • The processing of heavy oil feedstocks calls for development of new and effective techniques that would lead to increase in the yield of light fractions, suppression of coke formation, and saturation of liquid products with hydrogen. Increase in the rate of adoption of effective cracking catalysts, such as alumina, silica, and zeolites, for refining of heavy oils is projected to meet these rising needs in the next few years.
  • Moreover, utilization of cracking catalysts for heavy oils minimizes capital and operating costs of the process. This is estimated to boost the demand for heavy oil cracking catalysts during the forecast period.
  • New catalyst alternatives that help in reducing emissions of sulfur, sulfur oxides, nitrogen oxides, and carbon monoxide and in maximizing propylene production in fuels are being introduced on a commercial scale
  • Such fuels with ultra-low sulfur content are primarily used in aviation. High demand for these fuels in the aerospace & aviation industry is anticipated to drive the global heavy oil cracking catalyst market during the forecast period.
  • Thus, technological upgrade and enhancement of existing equipment in the petroleum refining industry are estimated to boost the demand for heavy oil cracking catalysts in the near future

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North America Anticipated to Dominate Global Heavy Oil Cracking Catalyst Market

  • In terms of region, the global heavy oil cracking catalyst market can be divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America accounted for a major share of the global heavy oil cracking catalyst market in 2018
  • North America is a leading consumer of heavy oil cracking catalysts, followed by Europe and Asia Pacific. Rise in the demand for heavy oil cracking catalysts as fuel catalysts in developed economies, such as the U.S. and Canada, is expected to boost the market in the region during the forecast period. Furthermore, North America is a major producer of heavy oil cracking catalysts in the world. Countries such as the U.S. and Canada have a strong network for distribution of heavy oil cracking catalyst products. The U.S. manufactures heavy oil cracking catalysts in substantial amounts and exports them to Europe and Asia.
  • Implementation of stringent regulations led by rising concerns related to the environment in developed economies in North America is expected to boost the demand for heavy oil cracking catalysts in the region in the near future
  • The market for heavy oil cracking catalysts in Europe is anticipated to expand at a moderate pace in the next few years, as oil refiners prefer the hydrocracking process over the use of cracking catalysts. Higher demand for diesel and kerosene than that for gasoline among consumers in the region has resulted in low preference for cracking catalysts.
  • The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to the rise in industrialization and growth of the petroleum refinery sector in countries such as China and India. Rise in the demand for heavy oil cracking catalysts in Asia Pacific has encouraged catalyst manufacturers in China to establish new production lines. This is likely to boost the demand for heavy oil cracking catalysts in the country in the next few years.
  • Advancements in the composition of heavy oil cracking catalysts and advent of new manufacturing technologies are estimated to drive the demand for heavy oil cracking catalysts in Asia Pacific in the near future
  • Increase in FDIs (foreign direct investments) in the petroleum industry in developing economies of Asia Pacific and Latin America is another key factor that is anticipated to drive the market in the region during the forecast period
  • The heavy oil cracking catalyst market in the Middle East is projected to expand at a rapid pace during the next few years, owing to the rise in investments in downstream activities in the oil & gas industry in the sub-region

Key Players Operating in Global Heavy Oil Cracking Catalyst Market

Key players operating in the global heavy oil cracking catalyst market have maintained strong relations with stakeholders, by undergoing lateral and vertical integrations. These companies are focused on distributing their products through effective distribution channels in order to gain higher market share.

Major players operating in the global heavy oil cracking catalyst market include:

  • Albemarle Corporation
  • Axens
  • BASF SE
  • China National Petrochemical Company
  • CRI Catalyst Company 
  • ExxonMobil Chemical
  • Grace Davison, Inc. 
  • Haldor Topsoe
  • Johnson Mathey 
  • Süd-Chemie

Global Heavy Oil Cracking Catalyst Market: Research Scope

Global Heavy Oil Cracking Catalyst Market, by Catalyst Type

  • Alumina
  • Silica
  • Zeolites
  • Others

Global Heavy Oil Cracking Catalyst Market, by Hydrocarbon

  • Vacuum Gas Oil (VGO)
  • Resid
  • Oil Sands

Global Heavy Oil Cracking Catalyst Market, by Application

  • Cracking
  • Olefin Reduction
  • Propene Enhancement 
  • Others

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.

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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.

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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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