Olefin Reduction Catalyst: Introduction

  • Catalysts are primarily used in a reaction to speed up a chemical synthesis by lowering the activation energy of the process. Catalysts are often known as the backbone of several industrial processes, as they are required to turn raw materials into the desired product. Moreover, catalysts play a major part in approximately 90% of all manufactured chemical products.
  • Olefin reduction catalyst offer several benefits including excellent olefin reduction capability and high coke selectivity at the time of chemical reduction. Furthermore, olefin reduction catalyst have the capability of heavy oil cracking by modification of active components, shape-selective zeolite, and matrix. Olefin reduction catalyst also help in making a match in between selective hydrogen transfer and cracking activities owing to the high amount of modification of the active components. High amount of activity of olefin reduction catalyst helps in hydrogen transfer at the time of reduction of olefin in gasoline. Furthermore, high cracking capability of olefin reduction catalyst enhances the heavy oil cracking capability of the catalyst. Olefin reduction catalyst are included under the category of catalytic cracking catalyst.

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Key Drivers of Olefin Reduction Catalyst Market

  • Attributes of olefin reduction catalyst such as excellent olefin reduction ability, coke selectivity, and heavy oil cracking ability are expected to drive its demand in the near future
  • Rapid urbanization coupled with increased expansion of the chemical industry in developing countries, such as China, India in Asia Pacific, is expected to drive the demand for petroleum products, which in turn is likely to boost the demand for olefin reduction catalyst in the near future. Additionally, increasing emphasis on reducing the operational cost of petroleum refining process is expected to boost the demand for olefin reduction catalyst as an alternative for the cracking of petroleum fractions.

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COVID-19 Impact on the Global Olefin Reduction Catalyst Market

  • The global petrochemical sector is experiencing a collapse in the wake of the spread of COVID-19. According to the American Petroleum institute, demand for petroleum in the U.S. declined to 19.4 million b/p (mb/d) in March 2020, leading to a decline in consumption by 4.6% as compared to that in February 2020. The outbreak of pandemic means people are required to stay at home, which in turn has led to a decline in the demand for oil. Furthermore, the pandemic has also led to the closure of manufacturing and refining sites, globally, consequently, hampering the demand for olefin reduction catalyst.

Asia Pacific to hold prominent share of the global olefin reduction catalyst market

  • In terms of geography, the demand for olefin reduction catalyst can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific dominated the global olefin reduction catalyst market in 2019. China has significant presence of major chemical and polymer manufacturing companies. Additionally, the country is also home to major manufacturing companies for chemical and petrochemical products and hence, the demand for plastics and petrochemicals is high across the country. Furthermore, low manufacturing cost associated with production of plastics and petrochemicals, as compared to that in the U.S. and the Europe, is expected to augment the demand for olefin reduction catalyst in manufacturing of various petrochemical-based products. Rise in investments in crude refineries in Asia Pacific drives the market in the region. In terms of refinery capacity, India-based Reliance Industries constitutes a prominent share of the market, as compared to that held by other refineries across the globe.
  • The olefin reduction catalyst market in Europe is expected to expand moderately in the near future, due to presence of stringent regulation on the usage of olefin reduction catalyst. The region has presence of a handful of producers of olefin reduction catalyst. However, outbreak of the coronavirus has led to supply chain disruption, thereby hampering the production and supply of olefin reduction catalyst across the region.

Key Players Operating in the Market:

The global olefin reduction catalyst market is highly consolidated, with top producer being Sinopec Catalyst Co., Ltd. These manufacturers are focused on new product launches and increasing their product offering across the globe. A few of the key players operating in the olefin reduction catalyst market include

  • Sinopec Catalyst Co., Ltd
  • Liaoning Haitai Sci-Tech Development Co., Ltd

Global Olefin Reduction Catalyst Market: Research Scope

Global Olefin Reduction Catalyst Market, by Application

  • Refining
  • Petrochemicals
  • Others

Global Olefin Reduction Catalyst Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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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Olefin Reduction Catalyst Market

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