Description
Data Bridge Market Research analyses that the catalytic reforming catalyst market was valued at USD 841.60 million in 2021 and is expected to reach USD 1272.13 million by 2029, registering a CAGR of 5.30 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
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Market Analysis and Size Report Scope and Market Segmentation
Catalytic reforming convert’s low-octane, straight-run naphtha fractions, especially heavy naphthas which is rich in naphthenic, into a high-octane, low-sulfur reformate, in the presenc of catalyst which is a major blending product for gasoline. The most valuable by-product from catalytic reforming is hydrogen which is also used as catalyst to satisfy the growing demand for hydrogen in hydrocracking and hydrotreating processes. Most reforming catalysts process contain platinum as the active metal which has supported on alumina, and some may contain additional metals like rhenium catalyst formulations.
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Catalytic Reforming Catalyst Market Dynamics
Drivers
· High demand in petrochemical industry
Increase the demand for catalytic reforming catalysts from petrochemical industries. Due to the rapid growth of the petrochemical industry has generated an expansion in demand for catalytic reforming catalysts for the manufacturing of several gases and chemicals. The reforming catalyst market is also witnessing substantial growth. A growth in the capabilities of refineries is increasing the demand for high-performance catalytic reforming catalysts, which is expected to drive the market's growth during the forecast period.
· Huge demand of platinum catalyst
In petroleum refining, platinum catalyst-based reforming procedures are increasingly used and grow in refining. They significantly increase the octane rating of naphthas, which is more cost-effective than any other reforming technique for producing high-octane gasoline. Platinum is now a critical constituent in manufacturing high-octane gasoline for piston-engine aircraft and automobiles. Moreover, catalytically reforming petroleum naphthas produces toluene, benzene, and xylenes, which account for a significant growth in reforming catalyst market.
Opportunities
Today's challenge for the catalytic naphtha reformer manufacturer is to deliver more hydrogen for more high-octane reformate for gasoline blending, clean fuels production, and more aromatics for petrochemicals production. In today's business environment, getting the most out of the existing naphtha reformers is one of the key factor to refinery cost-effectiveness while meeting the shifting needs of the fuels and/or aromatics markets to capitalize on market opportunities. Moreover, increasing the demand for those fuels containing less sulfur content, the demand for metals is witnessed to have significant growth of catalytic reforming catalyst market during forecast period.
Moreover, increasing strategic collaborations and evolving new markets will act as driver for market and further increase useful opportunities for the market's growth rate.
Challenges
Cost fluctuation of oil and gas are anticipated to affect the market for catalytic reforming catalysts over the forecast period. Furthermore, stringent rules and regulations regarding environment are getting change day by day, which is probable to act as a restraining factor for the catalytic reforming catalyst market. On the other hand, one of the major challenges faced by the catalytic reforming catalyst market is the requirement for continuous research and development for product improvement. Market players are continuously focusing on development of improved catalysts and innovations to maximize the process yield. Thus, sustaining in the competition is one of the major challenges faced by catalytic reforming catalyst manufacturers.
This catalytic reforming catalyst market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the catalytic reforming catalyst market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Catalytic Reforming Catalyst Market Scope
Ingredient
· Zeolites
· Metals
· Chemical Compound
· Others
End User
· Automotive Industry
· Oil Industry
· Chemical Industry
· Others
Catalytic Reforming Catalyst Market Regional Analysis
The countries covered in the catalytic reforming catalyst market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
During the projected period, North America is anticipated to be the fastest developing region due to the highest crude refining capacity overall the world.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Catalytic Reforming Catalyst Market Share Analysis
Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to catalytic reforming catalyst market.
Some of the major players operating in the catalytic reforming catalyst market are:
· Albemarle Corporation (US)
· W. R. Grace & Co.-Conn. (US)
· BASF SE (Germany)
· Topsoe (Denmark)
· Honeywell International Inc (US)
· Clariant (Switzerland)
· Axens (France)
· Johnson Matthey (UK)
· China Petrochemical Corporation (China)
· Shell Catalyst & Technologies (US)
· Arkema (France)
· Anten Chemical Co., Ltd (China)
· Dorf-Ketal Chemicals Pvt. Ltd. (India)
· Exxon Mobil Corporation (US)
· Gazprom Marketing & Trading Retail Ltd (Russia)
· JGC HOLDINGS CORPORATION (Japan)
· KNT Group (Russia)
· Kuwait Catalyst Company (Kuwait)
· N.E. CHEMCAT CORPORATION (Japan)
· Porocel (US)
· Qingdao Huicheng Environmental Technology (China)
· Taiyo Koko Co. Ltd. (Japan)
· Unicat Catalyst Technologies (US)
· Yueyang Sciensun Chemicals (China)
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