Refinery Catalyst Market to Reach USD 8.5 Billion by 2032, Driven by Demand for Cleaner Fuels

The Refinery Catalyst Market is growing, driven by increasing demand for high-performance catalysts in petroleum refining and environmental applications.

AUSTIN, TX, UNITED STATES, February 13, 2025 /EINPresswire.com/ -- The Refinery Catalyst Market was valued at USD 5.8 billion in 2023 and is projected to reach USD 8.5 billion by 2032, growing at a CAGR of 4.4% from 2024 to 2032. This market spread is credited to the rising requirement for superior catalysts in hydroprocessing, fluid catalytic cracking (FCC), and alkylation approaches to provide efficiency of fuel and to cutback emissions. Further, tight environmental regulations regarding low sulfur in fuels are also leading to new developments in refinery catalyst formulations. Refineries are increasingly utilizing new catalysts to meet global demand for cleaner energy, while also reducing operational costs.

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Key Players: 

• BASF SE (FCC Catalysts, Hydroprocessing Catalysts)
• R. Grace & Co. (Grace FCC Catalysts, Grace Hydrocracking Catalysts)
• Albemarle Corporation (FCC Catalysts, Hydroprocessing Catalysts)
• Johnson Matthey Plc (FCC Catalysts, Hydroprocessing Catalysts)
• Clariant AG (FCC Catalysts, Hydrotreating Catalysts)
• Haldor Topsoe A/S (Hydrocracking Catalysts, Hydrotreating Catalysts)
• Honeywell UOP (UOP FCC Catalysts, UOP Hydroprocessing Catalysts)
• Axens SA (FCC Catalysts, Hydrocracking Catalysts)
• China Petroleum & Chemical Corporation (Sinopec) (FCC Catalysts, Reforming Catalysts)
• Criterion Catalysts & Technologies L.P. (Hydroprocessing Catalysts, FCC Catalysts)
• Zeolyst International (Zeolite Catalysts, Hydrocracking Catalysts)
• Shell Catalysts & Technologies (FCC Catalysts, Hydroprocessing Catalysts)
• Advanced Refining Technologies (ART) (Hydroprocessing Catalysts, Hydrotreating Catalysts)
• JGC Catalysts and Chemicals Ltd. (FCC Catalysts, Hydrotreating Catalysts)
• Qingdao Huicheng Environmental Technology Co., Ltd. (FCC Catalysts, Desulfurization Catalysts)
• Albemarle Netherlands BV (Hydrotreating Catalysts, Reforming Catalysts)
• Nippon Ketjen Co., Ltd. (FCC Catalysts, Hydroprocessing Catalysts)
• Huntsman Corporation (Polymer Catalysts, Hydroprocessing Catalysts)
• Taiyo Koko Co., Ltd. (Hydrotreating Catalysts, FCC Catalysts)
• Porocel Corporation (FCC Catalysts, Hydrocracking Catalysts)

By Type, the zeolite-based catalysts segment held the largest market share of around 39% in 2023

The zeolite-based catalyst is unobtainable for the application of refining processes because of their high thermal stability, better cracking activity, and selectivity. Catalysts in this class are extensively utilized in FCC and hydrocracking units to improve fuel yields and reduce waste at refineries. Main actors like BASF, Albemarle Corporation, and W.R. Grace & Co. have been creating new zeolite-based catalysts to make refining more efficient. Refineries will continue to offer strong demand for these catalysts to comply with low-sulfur fuel specifications and produce high-value petrochemical feedstocks.

By Application, the Fluid Catalytic Cracking (FCC) Segment Held the Largest Market Share of Around 46% in 2023

Fluid Catalytic Cracking (FCC) remains the dominant application of refinery catalysts, driven by the increasing need to convert heavy hydrocarbons into valuable products such as gasoline and olefins. FCC catalysts help refineries maximize light and middle distillate production while ensuring operational flexibility. With the growing global energy demand and stricter fuel quality regulations, refineries are investing in advanced FCC catalyst technologies to improve product yields and efficiency. Leading industry players, including Honeywell UOP and Shell Catalysts & Technologies, are at the forefront of FCC catalyst innovation, enhancing process performance while reducing environmental impact.

Asia-Pacific Held the Largest Market Share of Around 41% in 2023

The Asia-Pacific region dominated the refinery catalyst market due to its expanding refining capacity and growing demand for transportation fuels. Countries such as China and India are leading the market growth, with significant investments in refining infrastructure and cleaner fuel production. Government policies promoting low-emission fuels and energy efficiency are further boosting the adoption of advanced refinery catalysts. Additionally, major catalyst manufacturers, including Clariant and Albemarle, are expanding their presence in Asia-Pacific to meet the rising demand for high-performance refining solutions.

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Recent Highlights

• In 2024, Albemarle Corporation launched a next-generation FCC catalyst designed to enhance gasoline yield and reduce sulfur emissions, aligning with global environmental standards.
• In 2024, BASF introduced a new hydroprocessing catalyst aimed at improving diesel and jet fuel production efficiency while minimizing carbon footprint.

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