Asia Pacific held a significant share of the global refinery catalysts market in 2015. Expansion of the automotive industry and the increase in consumption of diesel are likely to boost the refinery catalysts market in the region. Together, China and India were the major consumers of refinery catalysts in Asia Pacific in 2015. The Government of India has mandated the use of fuels compatible with BS-VI norms by 2020. According to these norms, the sulfur content in fuels needs to be lower than the present levels. This coupled with rising demand for fuels is anticipated to propel the refinery catalysts market in India in particular and Asia Pacific in general.
The demand for refinery catalysts in North America is anticipated to expand at a fastest rate during the forecast period. This is due to the rise in the number of environmental regulations on fuel emissions and increase in consumption of gasoline. The U.S. was the major consumer of refinery catalysts in North America in 2015. The fluid catalytic cracking catalysts segment is estimated to expand at a significant rate in North America, followed by hydrocracking catalysts. Consumption of zeolites is projected to increase in the region owing to the growth in demand for cleaner gasoline.
Middle East &Africa is one of the major exporters of diesel in the world. It primarily exports fuels to countries in Asia Pacific. Environmental norms on fuel emissions in Middle East & Africa are lower than that in other regions. Middle East & Africa produces middle distillates and gasoline according to the norms of other countries where the fuel is exported. Increase in upcoming hydrocracking projects in the region is also likely to be another key factor boosting the refinery catalysts market in Middle East & Africa.
Europe held a significant share of the global refinery catalysts market in 2015. Increase in demand for middle distillates is expected to boost the demand for molybdenum-based catalysts in the region. Implementation of stringent regulations on fuel emissions in Europe is anticipated to propel the refinery catalysts market. The shift in trend toward biofuels is likely to hamper the market in the region. The refinery catalysts market in Europe is projected to expand at a steady rate during the forecast period.
Gasoline is a widely consumed fuel in Latin America. Demand for gasoline is expected to outpace the production in the region in the next few years owing to the increase in sales of automotive vehicles in countries such as Brazil and Mexico. This, in turn, is estimated to augment the refinery catalysts market in Latin America during the forecast period.
Major players operating in the refinery catalysts market include Royal Dutch Shell Plc, ExxonMobil Corporation, BASF SE, Honeywell International Inc, Johnson Matthey Plc., and Albemarle Corporation.