Future Market Insights
Global Hydrodesulfurization Catalyst Market: Snapshot
The process of hydrodesulfurization is used to take off sulfur and sulfur compounds from petroleum products and to do so it requires a catalyst. As oil and gas exploration and production increases worldwide to meet growing demand as population rises, need for Hydrodesulfurization Catalyst will increase. Thus, it comes as no surprise that the market will see a steady growth which will translate itself in lucrative growth opportunities, bringing up the market worth significantly.
Some of the other factors to shape the contours of future strategic landscape in the global Hydrodesulfurization Catalyst Market are:
Hydrodesulfurization Catalyst Market: Definition and Introduction
Hydrodesulfurization is a chemical process which is used to remove sulfur and sulfur compounds from refined petroleum end products, including petrol (gasoline), diesel, fuel oils and jet fuel. Hydrodesulfurization is also known as hydrotreating and is a chemical process which requires the presence of a catalyst. The Hydrodesulfurization Catalyst enables the hydrotreating process in petroleum refineries and natural gas processing plants. Using the Hydrodesulfurization Catalyst, the hydrotreating process removes excess sulfur from the petroleum refining by-products. The process of hydrodesulfurization takes place usually in a fixed bed type of reactor in a refining unit, at temperatures which range from 300 °C to 400 °C. The hydrodesulfurization catalyst used for the process most commonly consists of a base that is impregnated with metals, such as molybdenum and cobalt. Many types of metals can perform the function of a Hydrodesulfurization Catalyst. However, the metals which are most active as a Hydrodesulfurization Catalyst are those which occur in the middle of the transition metal series of the periodic table. For example, Ruthenium disulfide is one of the most active Hydrodesulfurization Catalysts available. However, most of the hydrodesulfurization units in refining facilities use cobalt- and molybdenum disulfide-based Hydrodesulfurization Catalysts. Moreover, nickel- as well as tungsten-based Hydrodesulfurization Catalysts are also used, particularly in those hydrodesulfurization units which are requires to carry out the hydrodenitrification process. Metals and sulfides that act as Hydrodesulfurization Catalysts in a hydrotreating unit are typically based on support materials having greater surface areas. For example, alumina is a commonly used support for Hydrodesulfurization Catalyst.
Considering these aspects of the Hydrodesulfurization Catalyst, the study of the Hydrodesulfurization Catalyst market becomes an important read.
Hydrodesulfurization Catalyst Market: Segmentation
On the basis of type, the Hydrodesulfurization Catalyst market can be segmented as:
On the basis of Feedstock, the Hydrodesulfurization Catalyst market can be segmented as:
On the basis of End Use Industry, the Hydrodesulfurization Catalyst market can be segmented as:
Hydrodesulfurization Catalyst Market: Dynamics
Hydrodesulfurization Catalyst is of critical importance in the catalysis dependent process of hydrodesulfurization. Hydrodesulfurization Catalyst helps carry out the process of hydrodesulfurization effectively, thus helping meet regulatory specifications and environmental norms applicable to the refined petroleum products. The removal of sulfur enabled by the Hydrodesulfurization Catalyst also prevents poisoning of the catalysts used in refinery processes further down the line after hydrodesulfurization. The market for Hydrodesulfurization Catalyst will witness growing demand in direct proportion to the increasing need of hydrodesulfurization (HDS) process for the production of low sulfur petroleum fuel and other refined products, in view of existing and impending regulatory mandates. Governments and regulatory bodies, such as the European Union and the International Maritime Organization (IMO), have laid down stringent low sulfur content regulations for petroleum fuels, especially those used in the marine industry. The IMO sulfur content cap to be applicable from January 2020 onwards has accelerated the need for sulfur removal capacity in refineries, thereby creating new opportunities for the Hydrodesulfurization Catalyst market. Thus, the market for Hydrodesulfurization Catalyst will continue to be driven primarily by demand from the refinery industries.
Hydrodesulfurization Catalyst Market: Regional Outlook
The Hydrodesulfurization Catalyst market is projected to grow at a compounded annual growth high rate in the next few years, in line with growing investments for hydrosulfurization capacity expansion by refinery operators. Asia Pacific is projected to be a significant market for Hydrodesulfurization Catalyst. The growing demand for refined petroleum products from the fast growing economies of the region will be a key driver of demand for Hydrodesulfurization Catalyst market in Asia Pacific. Moreover, North America and Europe are key markets for Hydrodesulfurization Catalyst, with stringent regulatory requirements for sulfur dioxide emissions, which mandate the production of low sulfur content fuels. Growing natural gas processing capacity in these developed markets will also help increase demand for Hydrodesulfurization Catalyst. China, India, the U.S., Germany, Japan, U.K. are some of the key countries in the Hydrodesulfurization Catalyst market.
Hydrodesulfurization Catalyst Market: Market Participants
Examples of some of the market participants identified across the value chain of the Hydrodesulfurization Catalyst market are:
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