Refinery Catalyst Market Emerging Trends & Industry Forecast by 2032

According to Fortune Business Insights, The global refinery catalyst market size was USD 4.82 billion in 2023 and is projected to grow from USD 5.01 billion in 2024 to USD 6.77 billion by 2032 at a CAGR of 3.8% during the 2024-2032 period. Asia Pacific dominated the refinery catalyst market with a market share of 35.68% in 2023.

Refinery catalysts are chemical ingredients used during the refining process to remove unwanted impurities such as nitrogen, metal contamination, and sulfur. These catalysts include zeolites, calcium carbonate, molybdenum, palladium, zirconium, which are used independently or in different combinations to improve the operating effectiveness of petroleum. The global refinery catalyst market is witnessing steady growth, driven by tightening environmental regulations, rising fuel demand, and increasing investments in complex refinery infrastructure. As refineries shift focus toward producing cleaner fuels and value-added petrochemicals, the demand for advanced catalysts is on the rise.

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LIST OF KEY COMPANIES PROFILED

• Albemarle Corporation (U.S.)

• BASF SE (Germany)

• Haldor Topsoe A/S (Denmark)

• Honeywell International Inc. (U.S.)

• Clariant (Switzerland)

• Axens (France)

• Johnson Matthey (U.K.)

• China Petroleum & Chemical Corporation (China)

• Royal Dutch Shell plc (Netherlands)

Key Segments:

• By Type: Fluid catalytic cracking (FCC) catalysts, hydrotreating catalysts, hydrocracking catalysts, catalytic reforming catalysts.

• By Ingredient: Zeolites, metals (molybdenum, cobalt, nickel), chemical compounds.

• By Application: Gasoline production, diesel treatment, residue upgrading, petrochemical processing.

Market Drivers

1. Stringent Fuel Emission Standards

Global mandates for ultra-low sulfur diesel (ULSD) and cleaner gasoline are boosting the demand for hydroprocessing and FCC catalysts. These catalysts are critical for removing impurities like sulfur, nitrogen, and heavy metals from crude oil derivatives.

2. Growing Petrochemical Demand

The shift toward producing light olefins and aromatics from heavier feedstocks is accelerating the use of FCC and reforming catalysts. The expansion of petrochemical complexes globally also supports this trend.

3. Processing Heavy and Renewable Feedstocks

Modern refineries are increasingly handling heavier, high-sulfur crudes and integrating renewable feedstocks such as used cooking oils and bio-oils. Specialized catalysts are essential to improve conversion efficiency and product yield in these scenarios.

4. Technological Advancements

Catalyst innovation—including multi-functional catalysts, zeolite-based structures, and AI-guided optimization—is enhancing operational efficiency. New-generation catalysts are also enabling higher selectivity and lower coke formation during cracking and reforming.

Challenges

• Volatile crude oil prices impact refinery operations and investment in catalyst technologies.

• Transition to electric vehicles (EVs) is likely to reduce gasoline and diesel consumption, though this may be balanced by growing petrochemical production.

Regional Insights

Asia-Pacific

The fastest-growing market, driven by large-scale refinery projects in China and India. The region also leads in the production and export of FCC and hydrocracking catalysts.

North America

Significant demand for hydrotreating and reforming catalysts due to strict environmental regulations. The U.S. is a major contributor with a strong domestic refining industry.

Europe

Focus on clean energy transition and biofuel mandates is shaping the demand for sustainable catalyst technologies.

Middle East & Africa

Large investments in refinery expansion and modernization, especially in countries like Saudi Arabia and the UAE, are creating long-term opportunities.

Emerging Trends

• Bio-refining catalysts are gaining traction as more refineries integrate renewable raw materials.

• Zeolite-based catalysts are growing rapidly due to their superior thermal stability and selectivity.

• Digital catalyst modeling using AI and machine learning is shortening development cycles and improving performance prediction.

Future Outlook

Between 2024 and 2032, the refinery catalyst market is expected to witness consistent growth. The focus will increasingly shift toward:

• Catalysts tailored for renewable and alternative feedstocks

• Eco-efficient technologies that support decarbonization

• Customized regional solutions to cater to local fuel regulations and feedstock availability

Despite the long-term impact of EV adoption, demand for refinery catalysts will remain robust due to sustained global fuel needs and rising petrochemical production.

The refinery catalyst market stands at the intersection of regulatory compliance, technological innovation, and energy transition. As the global refining landscape evolves, catalysts will play a crucial role in enabling cleaner, more efficient, and more sustainable fuel and chemical production. Companies that invest in advanced catalyst development and adapt to shifting energy dynamics are poised for long-term success.

Information Source: https://www.fortunebusinessinsights.com/industry-reports/refinery-catalyst-market-101090

KEY INDUSTRY DEVELOPMENTS

• January 2023 – Albemarle Corporation announced the brand launch of “Ketjen”, a wholly-owned subsidiary that created customized, sophisticated catalyst solutions for the specialty chemical, refining, and petrochemical sectors.

• February 2021 –Bharat Petroleum Corporation Limited subsidiary, Numaligarh Refinery Limited (NRL   has designated Axens for supplying advanced technologies in the gasoline block for its Numaligarh Refinery Expansion Project (NREP). The company has planned to expand the refinery capacity 9000 KT per annum.