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Rapid urbanization along with the expansion of chemical processing industries in developing nations is driving the FCC Catalyst Market growth

HYDERABAD, TELANGANA, INDIA, January 12, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that FCC Catalyst Market size is forecast to reach US$3.3 billion by 2027, after growing at a CAGR of 4.1% during 2022-2027. Fluid catalytic cracking (FCC) is a type of processing unit used in petroleum refineries to produce additional gasoline during the refining process. Basically, it is a chemical process that utilizes a catalyst and heat to break long-chain hydrocarbons into smaller-chain hydrocarbons. These catalysts are primarily used to convert the high-boiling point crude oils into gasoline, olefinic gases, and other petroleum products. Vacuum gas oil (VGO) is a key feedstock for fluid catalytic crackers used to make transportation fuels. An electrostatic precipitator (ESP) is used to remove residual particulate in FCC catalyst. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/FCC-Catalyst-Market-Research-510824

Key takeaways:

This IndustryARC report on the FCC Catalyst Market highlights the following areas -

1. The Asia Pacific is expected to register the highest CAGR of 5.1% during the forecast period (2022-2027). Rapid urbanization, emerging economies, and increasing developments in capacities of oil production in oil refineries are the major factors driving the market growth.

2. The zeolites segment is expected to grow at a high CAGR of 4.5% during the forecast period 2022-2027.

3. The increasing market for valuable products such as gasoline, olefinic gases, and petroleum products among transportation industry is one of the key factors driving the FCC catalyst market

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Segmental Analysis:

1. The zeolites segment accounted for approximately 26% of the market share in 2021 and is estimated to grow at a high CAGR during the forecast period. Zeolites are microporous, aluminosilicate minerals commonly used as commercial adsorbents and catalysts. Zeolite is the key component that is more active and selective for high-octane number gasoline productions. Zeolite acts as a solid acid catalyst to convert crude oil into a more valuable product, such as gasoline and olefin

2. According to the data published by BP Statistical Review of World Energy 2019, the Asia-Pacific region has the largest oil refining capacity in the world, processing about 34.75 million barrels per day (bpd) in 2018. China contributed approximately 15.6% of the world’s oil refining capacity in 2018.

3. According to the facts published by the U.S. Energy Information Administration, The U.S. crude oil production reached almost 11.8 million b/d in November 2021 and the administration estimated that the production will rise to an average of 12.0 million b/d in 2022.

Competitive Landscape:

The top 5 players in the FCC Catalyst Industry are -

1. BASF SE
2. WR Grace & Co-Conn
3. China Petroleum & Chemical Corporation
4. Albemarle Corporation
5. JGC Catalysts & Chemicals Co., Ltd.

Click on the following link to buy the FCC Catalyst Market Report:
https://www.industryarc.com/reports/request-quote?id=510824

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Related Reports:

A. Fertilizers Market
https://www.industryarc.com/Report/18894/gcc-catalysts-for-polymer-production-market

B. Catalyst Carriers Market
https://www.industryarc.com/Research/Catalyst-Carriers-Market-Research-500021

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