Future Market Insights
At present, the primary focus of the oil refiners is to convert the residues to produce stable LSFO i.e. low sulphur fuel oil and hydro-treated feedstock as per the market specification. With the increasing demand for secondary resources over the primary ones, the residue hydrodesulphurization catalyst market is expected to account for significant share over the forecast period. The residue hydrodesulphurization catalysts are traded mainly in the oil refineries depending upon the size distribution, pore size and activity grading.
The residue hydrodesulphurization catalyst market is estimated based on the operational activities in the oil refineries and petrochemical industries, where metals such as Nickel, Rhodium, Cobalt, Platinum and molybdenum are widely used for catalytic processes in order to reduce sulphur content to a desired level in the final product. This leads to a rise in demand for the residue hydrodesulphurization catalyst market. With the rising concern about air pollution caused by the combustion of gasoline products used in the transportation sector, the market for residue hydrodesulphurization will witness an exponential growth over the forecast period.
Residue Hydrodesulphurization Catalyst Market: Drivers and Restraints
Although the sulphur laden crude oil petroleum products have been treated since a longer period, the regulations proclaimed by the environment protection authorities have led to enforce major changes in the refining system to produce low sulphur fuel oil. In regions such as the U.S. and European nations, the government bodies have mandated deep hydrodesulphurization process to produce ultra-low sulphur diesel between the ranges of 300 to 500 ppm by weight of total sulphur. Such major steps adopted to limit environmental damages are expected to create lucrative growth in the residue hydrodesulphurization catalyst market in coming future.
Also, it has been observed that the deactivation rate has led to wastage of huge amount of catalyst, which results in reuse of the residue hydrodesulphurization catalyst. The disposal of such materials causes land pollution due to its toxic nature and creates landfill disposal problems. To overcome this, the solubilization process for metal extraction has been adopted to reuse the catalyst in a varied range of applications such as artificial mineral ores. Thus the residue hydrodesulphurization catalyst market is expected to gain opportunities, where spent catalysts are fed as raw material, since its demand over primary mineral resources is increasing.
Residue Hydrodesulphurization Catalyst Market: Segmentation
Residue hydrodesulphurization catalyst market can be segmented on the basis of product type:
Transition Metal Type
Residue hydrodesulphurization catalyst market can be segmented on the basis of form:
Residue hydrodesulphurization catalyst market can be segmented on the basis of application:
Coal Chemical Industry
Residue Hydrodesulphurization Catalyst Market: Region Wise Outlook
Based on the geography, the residue hydrodesulphurization catalyst market is expected to be prevalent in North America. The region is recognized for its oil refineries where residue hydrodesulphurization catalysts are expected to be in huge demand for the innovative technologies adopted in order to reduce the sulphur content in the crude oil by-products over the forecast period. The region is followed by the European nations where stringent regulations have to be followed to minimize air pollution.
The developing countries such as India and China, with the increasing demand for petroleum products due to significant developments in almost every sector, are expected to account for noteworthy monetary value for residue hydrodesulphurization catalyst market over the forecast period. The Middle East countries such as Kuwait with oil refineries in abundance are expected to account for substantial growth in residue hydrodesulphurization catalyst market over the forecast period.
Residue Hydrodesulphurization Catalyst Market: Market Participants
Some of the examples of recognized players in residue hydrodesulphurization catalyst market are listed below:
CRI Catalyst Company
Honeywell International Inc
China Petroleum & Chemical Corporation
China National Petroleum Corporation
Haldor Topsoe A/S
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