Hydrodesulfurization Catalys Global Market Report 2024

The hydrodesulfurization catalyst market size has grown strongly in recent years. It will grow from $2.75 billion in 2023 to $2.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth observed in the historical period can be attributed to several factors, including refinery upgrades and expansion, the implementation of stringent environmental regulations, the globalization of the oil and gas industry, a shift towards cleaner fuels, and a heightened focus on energy security.

The hydrodesulfurization catalyst market size is expected to see strong growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period can be attributed to a heightened emphasis on renewable energy, the transition to a hydrogen economy, sustained regulatory stringency, a rising demand for sustainable catalysts, geopolitical shifts in energy markets, and an increasing significance of biofuels. Key trends expected in the forecast period encompass the integration of nanotechnology, research and development for catalyst innovation, digitalization and process optimization, technological collaborations and partnerships, as well as advancements in catalyst technologies.

The hydrodesulfurization catalyst market is anticipated to experience substantial growth in response to the increasing demand for transportation fuels. These fuels, essential for powering internal combustion engine vehicles, encompass various types such as Gasoline/Petrol, Diesel, LPG (Liquefied Petroleum Gas), Jet fuel, and Marine fuel. Hydrodesulfurization catalysts play a vital role in crude oil refineries by eliminating harmful organosulfur compounds, resulting in cleaner end products suitable for use as transportation fuels. Notably, petroleum products constituted approximately 90% of the total U.S. transportation sector energy consumption in 2021, with gasoline being the predominant fuel, followed by distillate fuels such as diesel and jet fuel. This surge in transportation fuel demand is a driving force behind the growth of the hydrodesulfurization catalyst market.

Another significant factor contributing to the growth of the hydrodesulfurization catalyst market is the escalating demand for oil. As a naturally occurring fossil fuel composed mainly of hydrocarbons formed from ancient marine organisms, oil undergoes refining processes that involve hydrodesulfurization catalysts. These catalysts are instrumental in reducing sulfur content in refined products, ensuring the production of high-quality fuels derived from crude oil. Notably, in October 2023, U.S. crude oil output reached 12.4 million b/d, showcasing an increase from the previous record of 11.7 million b/d in 2022. This surge in oil demand is a key driver behind the expansion of the hydrodesulfurization catalyst market.

A notable trend shaping the hydrodesulfurization catalyst market involves the innovative utilization of hydrodesulfurization end products. Major industry players are actively exploring new applications for these end products to enhance profitability and maintain their market positions. For instance, Chevron Phillips Chemical Company LLC, in April 2022, introduced a new hydrodesulfurization (HDS) unit designed to promote circularity by converting sulfur into hydrogen sulfide, a feedstock used in the synthesis of mercaptans. This approach not only reduces SO2 emissions but also provides fuel for a cogeneration unit, generating steam and electricity for the facility.

Major companies are strategically investing in key initiatives. In June 2021, Raízen Argentina S.A.U., an Argentina-based player in the oil and gas sector, exemplified this trend by committing a substantial investment of $715 million in Axens Group. This investment is directed towards securing technology licensing and equipment for a new modular fluid catalytic cracking (FCC) gasoline hydrodesulfurization unit. The infusion of funds aims to enhance the refinery's processing capacity, modernize existing facilities, and introduce new units, including a naphtha hydrotreater, a diesel hydrotreater, a hydrogen production plant, and water treatment plants. Axens Group, based in France, specializes in providing solutions for the conversion of oil and biomass into cleaner fuels.

In August 2022, ORLEN Group (Polski Koncern Naftowy Orlen Spólka Akcyjna), a prominent Poland-based oil refiner and petrol retailer, executed a merger with Grupa Lotos S.A, with the financial details undisclosed. This strategic move is geared towards boosting capital expenditure to implement various profitable projects, with a primary focus on enhancing Poland's energy independence and ensuring a stable supply of fuels. Grupa Lotos S.A., also based in Poland, is a significant player in the crude oil industry. The merger reflects the commitment of both entities to strengthen their financial positions and pursue initiatives that contribute to the country's energy security.

Major companies operating in the hydrodesulfurization catalys market report are Albemarle Corporation, Advanced Refining Technologies LLC, China Petroleum & Chemical Corporation, Haldor Topsoe Holding A/S, Shell PLC., PetroChina Company Limited, Axens SA, JGC C&C, Honeywell UOP, Johnson Matthey PLC., BASF SE, Clariant AG, Dorf Ketal Chemicals, ART Hydroprocessing, Repsol S.A, W R Grace & Co, Chiyoda Corporation, Sinopec Corp., Chevron Phillips Chemical Company, Redkino Catalyst Company, Criterion Catalysts & Technologies, CRI Catalyst Leuna GmbH, Mitsubishi Electric Corporation, Emerson Electric Co., General Electric Co., Texas Instruments Inc., Delta Catalysts, Denso Corporation, Delphi Automotive PLC, Noble Group Ltd.

Asia-Pacific was the largest region in the hydrodesulfurization catalyst market in 2023. North America is expected to be the highest-growing region in the hydrodesulfurization catalyst market during the forecast period. The regions covered in the hydrodesulfurization catalys market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hydrodesulfurization catalys market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of hydrodesulfurization catalysts include cobalt-molybdenum, nickel-based, and others. Cobalt-Molybdenum is an alloy derived from cobalt and molybdenum, serving as a catalyst in the chemical industry. It has a melting point of 2610°C and a density of 10.2 g/cm3. Due to its relatively low melting point and density, it is utilized in the hydrodesulfurization of crude oil to eliminate organic sulfur components. This catalyst finds application in various feedstocks such as natural gas, naphtha, heavy oil, diesel oil, kerosene, and others within the petrochemical and natural gas processing industries.

The hydrodesulfurization catalysts market research report is one of a series of new reports that provides hydrodesulfurization catalysts market statistics, including hydrodesulfurization catalysts industry global market size, regional shares, competitors with a hydrodesulfurization catalysts market share, detailed hydrodesulfurization catalysts market segments, market trends and opportunities, and any further data you may need to thrive in the hydrodesulfurization catalysts industry. This hydrodesulfurization catalysts 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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