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Market Analysis: FCC Catalyst Market, Submerged ArcWelded Pipe Market,Galvannealed Steel Market forecasted for 2023-2030

Market Analysis: FCC Catalyst Market, Submerged Arc Welded Pipe Market and Galvannealed Steel Market forecasted for 2023-2030

SEATTLE, WASHINGTON, USA, July 1, 2023/EINPresswire.com/ -- The FCC Catalyst Market is expected to grow from USD 2.70 Billion in 2022 to USD 3.20 Billion by 2030, at a CAGR of 2.48% during the forecast period.The oil and gas sector, specifically fluid catalytic cracking (FCC) units, is the primary target market for FCC Catalyst. The FCC process is important in the production of petroleum because it enables the transformation of heavy oils into lighter, more valuable products. By speeding up the reaction and boosting the yield of desirable products, the use of catalysts in FCC units improves the conversion process.

Depending on the intended end result, different kinds of FCC catalysts are used. The sulphur content of petrol must be reduced via petrol sulphur reduction catalysts in order to comply with environmental requirements. The production of propylene and butylene, which are necessary for the creation of products based on polymers, is increased by maximum light olefins catalysts. Catalysts for maximum middle distillates yield heating oil, kerosene and diesel. To increase the conversion of heavy residual feedstock into lighter products like petrol oils, diesel and petrol, maximum bottoms conversion catalysts are used.

FCC (Fluid Catalytic Cracking) Catalyst is extensively used in the refining of Vacuum Gas Oil (VGO), Residue, and other diverse applications. VGO is a predominant feedstock extensively used in petroleum refineries for producing gasoline and diesel fuels. FCC Catalyst is used in VGO cracking for converting heavy hydrocarbon molecules into lighter, higher value products. Similarly, FCC Catalyst is employed in Residue cracking for converting high molecular weight compounds into lighter products.

The expected market share of the FCC catalyst market in different regions is as follows:

- Asia Pacific: 50-55%
- North America: 20-25%
- Europe: 15-20%
- Middle East and Africa: 5-7%
- South America: 3-5%

The global FCC catalyst market is highly competitive, with the presence of prominent players such as Grace Catalysts Technologies, BASF, Albemarle, JGC C&C, Sinopec, CNPC, Hcpect, Yueyang Sciensun Chemical, and Rezel Catalysts Corporation.

In terms of revenue, Grace Catalysts Technologies reported sales of $1.6 billion in 2020, while Albemarle reported sales of $3.5 billion in the same year. Sinopec reported revenue of $132 billion for 2020, and CNPC reported revenue of $343 billion for the same year.

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The Submerged Arc Welded Pipe Market is expected to grow from USD 14.80 Billion in 2022 to USD 15.80 Billion by 2030, at a CAGR of 0.96% during the forecast period.The Submerged Arc Welded Pipe market has seen significant growth over the past few years and is expected to continue to rise due to multiple factors. The increasing demand for pipelines in the oil and gas industry is a major driver of revenue growth in the Submerged Arc Welded Pipe market. Additionally, the expansion of infrastructure in emerging economies is also contributing to the rise in demand for Submerged Arc Welded Pipes.

There are two types:

• SAWP, Longitudinal SAW Pipe (LSAW)
• Spiral SAW Pipe (SSAW).

LSAW pipes are made by bending and welding wide steel plates and are mainly used for transporting oil, gas, and water. SSAW pipes are made by forming a spiral steel coil into a pipe shape and welding the edges together. SSAW pipes are used for applications such as water pipelines, piling, and structural pipes.

Submerged Arc Welded Pipe finds application in various industries such as Oil & Gas, Construction & Utilities, and others. In the Oil & Gas industry, these pipes are used for transportation of crude oil and natural gas from the well to the refinery and distribution centers. They are also used for offshore drilling and connecting underwater pipelines.

The market share percent valuation for the Asia Pacific region is projected to be around 40% by the end of the forecast period.North America and Europe are also expected to hold a significant share of the market, with the United States and countries in Western Europe being the major contributors. The market share percent valuation for these regions is estimated to be around 25% each.Latin America and the Middle East & Africa regions are expected to experience moderate growth in the Submerged Arc Welded Pipe market. However, the market share percent valuation for these regions is projected to be relatively low, around 5-10% each.

Some of the prominent players operating in the market are TMK Group, Baoji Petroleum Steel Pipe, Jindal SAW Ltd., Welspun, EUROPIPE GmbH, EEW Group, JFE Steel Corporation, SEVERSTAL, JSW Steel Ltd., OMK, Cangzhou Spiral Steel Pipes Group Co., Ltd., Tianjin You Fa Steel Pipe Group Stock Co., Ltd., Jiangsu Yulong Steel Pipe Technology Co., Ltd., Nippon Steel Corporation, Panyu Chu Kong Steel Pipe, ArcelorMittal, Zhejiang Kingland & Pipeline Technol-ogies Co.,Ltd., Shengli Oil & Gas Pipe, Global Pipe Company, Arabian Pipes Company, and Borusan Mannesmann.

As per the market analysis, the sales revenue figures of some of the above-mentioned companies are TMK Group ($6.25 billion in 2020), Jindal SAW Ltd. ($1.23 billion in 2020), Welspun ($1.53 billion in 2020), EEW Group (EUR 4.4 billion in 2019), and OMK (189.1 billion rubles in 2019).

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The Galvannealed Steel Market is expected to grow from USD 94.30 Billion in 2022 to USD 113.60 Billion by 2030, at a CAGR of 2.70% during the forecast period.The global Galvannealed Steel market is expected to experience significant growth in the coming years, driven by strong demand from various sectors such as construction, automotive, and electrical appliances. Galvannealed steel is known for its superior welding and paintability characteristics, which has made it a popular choice for a range of industrial applications. Additionally, the increasing number of construction activities globally is expected to increase the demand for Galvannealed Steel in the construction sector, especially for roofing and walling applications.

Here are several types of galvannealed steel, including the following:

• Sheet And Strip
• Structure
• Pipe And Tube
• Wire
• Hardware.

Sheet and strip galvannealed steel is used in a variety of applications, including roofing, siding, and automotive parts. Structure galvannealed steel is used in construction projects, such as bridges and buildings. Pipe and tube galvannealed steel is commonly used in the manufacturing of plumbing systems and tubing for transportation applications.

Galvannealed Steel is effectively used in various industries such as Construction, Home Appliance, Automotive, and General Industrial. In the construction sector, galvannealed steel is mainly used in roofing, wall cladding, gutters, and outdoor products. In the home appliance sector, it is used to create door panels, outer casings, and interior components. In the Automotive industry, galvannealed steel is used in automobile body parts such as hoods, roofs, doors, fenders, and tailgates.

The Galvannealed Steel market is expected to be dominated by the Asia-Pacific region, followed by North America and Europe. Asia-Pacific is expected to hold the largest market share of around 45% by the end of 2025, primarily due to the growth of various end-use industries such as automotive, construction, and appliances. North America is expected to hold a significant market share due to the presence of key players in the region and the rising demand for galvannealed steel in the automotive industry. Europe is also expected to witness a steady growth rate in the coming years due to strict regulations on carbon emissions and the increasing production of lightweight vehicles in the region.

Some of the leading players operating in this market include Baowu Group, ThyssenKrupp, Steel Dynamics, POSCO, ArcelorMittal, Nippon Steel & Sumitomo Metal, Hesteel Group, Hyundai Steel, JFE Steel Corporation, Shougang, Ansteel Group, Gerdau, Maanshan Steel, United States Steel Corporation, Youfa Steel Pipe Group, Benxi Steel Group, China Steel Corporation, JSW Steel Ltd, Tata Steel, NLMK Group, Valin Steel Group, and Shagang Group.

In terms of sales revenue, some of the leading Galvannealed Steel Market players include Baowu Group with a revenue of USD 97.39 billion in 2020, ThyssenKrupp with a revenue of USD 47.26 billion in 2020, and Steel Dynamics with a revenue of USD 11.4 billion in 2020.

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Mohit Patil
Prime PR Wire
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