South Africa Refinery Catalyst Market Size, Trends, Demand, Growth, Forecast 2030

Posted by aartimurkute on June 28th, 2023

Fairfield Market Research, a renowned market intelligence firm, has released an insightful report highlighting the growth prospects of the refinery catalyst market. With the increasing demand for clean fuel alternatives, is poised for steady growth in the refinery catalyst market.

For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/refinery-catalyst-market

According to the market intelligence report, South Africa is experiencing a surge in the demand for clean fuel alternatives, driving the growth of the refinery catalyst market in the country. As the region strives to reduce emissions and address environmental concerns, there is a growing emphasis on adopting refinery catalysts to optimize production processes and meet stringent regulatory standards.

The report further highlights the significance of the refinery catalyst market in South Africa as the country aims to enhance its energy security and transition towards cleaner energy sources. By leveraging innovative refinery catalysts, refineries can improve efficiency and produce cleaner fuels, aligning with global sustainability goals.

Additionally, the report segments the market based on catalyst types, including nickel, cobalt, zeolites, molybdenum, and others. The nickel segment, currently holding over 28% of the market share, is expected to witness remarkable growth. Moreover, the molybdenum segment is projected to experience sustained demand, with refineries utilizing over 17% of the total molybdenum production. Zeolites, known for their steady growth potential, are also expected to thrive the market.

In terms of refinery types, the fluid catalytic cracking (FCC) segment is expected to maintain prominence. Other key refinery categories include hydrocracking, catalytic reforming, H-oil unit, alkylation, and hydrotreating. The FCC segment, currently accounting for 44.3% of the market's value share, is projected to display a promising Compound Annual Growth Rate (CAGR) of more than 5% by the end of 2030. This growth can be attributed to the rising production of high-octane gasoline in the country.

The report also highlights key players in the refinery catalyst market, including Exxon Mobil Corporation, W. R. Grace & Co.-Conn, BASF SE, Chevron Corporation, Albemarle Corporation, Honeywell International Inc., Johnson Matthey, Haldor Topsoe A/S, and Royal Dutch Shell plc.

For a comprehensive understanding of the South African refinery catalyst market and detailed insights, please refer to the full report published by Fairfield Market Research.

For More Information Visit:  https://www.globenewswire.com/news-release/2023/06/26/2694805/0/en/Refinery-Catalyst-Market-Size-in-2030-Will-be-US-15-Bn-Fairfield-Market-Research-Provides-Growth-Analysis-in-a-New-Report.html