FCC Catalyst Global Market Report 2024

The fcc catalyst market size has grown strongly in recent years. It will grow from $2.75 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The expansion in historical performance can be attributed to the increase in global refining capacity, the global shift towards processing heavy crude, emphasis on yield improvement, growing demand for petrochemicals, globalization of refining operations, and a focus on enhancing energy efficiency.

The fcc catalyst market size is expected to see strong growth in the next few years. It will grow to $3.61 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be attributed to the rising complexity in feedstocks, the shift to sustainable catalysts, a focus on residue upgrading, optimization for propylene production, and market penetration in developing regions. Major trends expected in the forecast period include the integration of artificial intelligence, enhanced catalyst regeneration technologies, collaborative efforts for research and development, digitalization, and process optimization, along with the adoption of bottom-of-the-barrel technologies.

The expansion in demand for petroleum-based products is a driving force behind the growth of FCC (Fluid Catalytic Cracking) catalysts in the foreseeable future. Petroleum products encompass a complex assortment derived from crude oil and exhibit analogous physical and chemical traits. FCC catalysts accelerate chemical reactions, effectively reducing the activation energy in the petroleum refining process. These catalyst solutions are integral in converting high-boiling, heavy hydrocarbon fractions of crude oils into valuable petroleum derivatives, including gasoline, olefinic gases, and various other products. For example, as of November 2021, the United States produced over 11.8 million barrels per day of crude oil, underscoring the surging demand for petroleum-based outputs that drive the FCC catalyst market.

The escalating demand for energy is poised to act as a catalyst for the expansion of the FCC catalyst market in the coming years. Energy demand refers to the requisite quantity of energy needed to fulfill the requirements of specific systems, regions, industries, or societies within a defined period. FCC catalysts play a pivotal role in meeting this demand by facilitating the efficient conversion of heavy hydrocarbons into crucial fuels such as gasoline and diesel. In the United States, for instance, as of April 2023, electricity consumption saw a notable 2.6% increase in 2022 compared to the previous year. This uptick encompassed retail electricity sales to residential and commercial sectors, showcasing a substantial rise, while the industrial sector also experienced a modest increase. Therefore, the mounting energy demand is a significant driver fueling the growth of the FCC catalyst market.

Technological advancements represent a prominent trend gaining ground within the FCC catalyst market. Major players in the fluid catalytic cracking sector are intensively focused on technological innovations to maintain their market standing and are launching cutting-edge technologies to enhance their product portfolios. For example, in March 2022, BASF, a German-based company specializing in fluid catalytic cracking catalysts and systems for refinery applications, introduced Fortitude. This novel FCC catalyst, built upon BASF's multiple framework topologies (MFT) technology, is tailored to optimize the production of butylenes from residue feedstocks while preserving exceptional catalyst activity and superior selectivity.

Major players in the FCC catalyst market are intensifying their focus on introducing cutting-edge catalyst technologies such as PARAGON FCC Catalyst Technology to gain a competitive advantage. This innovative solution, exemplified by W. R. Grace and Co.'s recent launch in October 2023, enhances the efficiency and performance of fluid catalytic cracking processes in the oil and gas industry. The PARAGON technology aids FCC operators in achieving higher fuel yields per unit of CO2 emissions from their FCC units. It offers a range of benefits, including expanding operational parameters, enabling greater flexibility in processing various feedstocks for increased profitability, and optimizing the conversion of feedstocks while maintaining consistent coke yields. Ultimately, this technology enables more sustainable production of fuels, aligning with industry goals for improved environmental impact and enhanced operational efficiency.

In September 2021, Standard Industries Holdings, a U.S.-based manufacturer of performance materials, successfully completed the acquisition of W. R. Grace & Co. for a total transaction value of $7 billion. This acquisition involved a definitive agreement where Standard Industries Holdings agreed to pay $70 in cash per share for all outstanding shares of Grace common stock. Following the transaction, W. R. Grace & Co. transitioned into a privately held entity, operating autonomously within the framework of Standard Industries. W. R. Grace & Co. is a prominent U.S.-based chemical company known for its operations in the FCC catalysts market.

Major companies operating in the fcc catalyst market report are Axens SA, N.E. Chemcat, Porocel Corporation, Yueyang Sciensun Chemical Co. Ltd., DuPont de Nemours Inc., Magma Ceramics & Catalysts, Albemarle Corporation, W.R. Grace Company, Johnson Matthey, Flour Corporation, Shell plc, Honeywell International Inc., Exxon Mobil Corporation, McDermott International Ltd, Arkema S.A., BASF SE, Sinopec Corporation, China National Petroleum Corporation, Clariant AG, Haldor Topsoe, JGC C&C, Zeolyst International, Versalis, Nanjing Lantian Chemical, Jilin Petrochemical Company, Qingdao Huadong Catalytic Agent Co. Ltd., Fushun Shuntian Petrochemical, Rive Technology, Wuxi Xuelang Chemical Technology, Ecopetrol S.A., Nippon Ketjen Co. Ltd., Sumitomo Chemical Co. Ltd., Universal Oil Products, Johnson Matthey Davy Technologies, PetroChina Catalyst Company, Shell Catalysts & Technologies, Grace Catalysts Technologies.

Asia-Pacific was the largest region in the FCC catalyst market in 2023. The regions covered in the fcc catalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fcc catalyst market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products derived from FCC catalyst applications include gasoline sulfur reduction, maximum bottoms conversion, maximum light olefins, maximum middle distillates, and others. Gasoline sulfur reduction focuses on reducing sulfur content, a naturally occurring substance in crude oil unless removed. These catalysts find applications in various processes such as residue, vacuum gas oil, and others, catering to the needs of refineries, environmental considerations, and other end-users.

The FCC catalyst market research report is one of a series of new reports that provides FCC catalyst market statistics, including the FCC catalyst industry global market size, regional shares, competitors with a FCC catalyst market share, detailed FCC catalyst market segments, market trends, and opportunities, and any further data you may need to thrive in the FCC catalyst industry. This FCC catalyst market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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