Refinery Catalysts Market
essential to meet the escalating demand for high octane gasoline globally. Adjustable acidity and high porosity are some of the properties of zeolites that encourage its use as catalysts in refining and petrochemical production. The report detects that round about 95 % of the total zeolites manufactured across the world are used across fluid catalytic cracking operations. The segment of molybdenum catalysts is also expected to flourish during the forecast period, gaining extended demand from the Middle East and Asia Pacific.
Geographically, the report studies the opportunities available in the regions of North America including the U. S. and Canada, Europe including Germany, France, and the U. K, Asia Pacific including China and India, the Middle East and Africa, and Latin America. Among these, Asia Pacific, and China in particular, are the most profitable regional and country-wide markets for refinery catalysts. The report observes that China served 70 % of the demand for zeolite in the global market in 2015.
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Stringent Eco-Friendly Regulations Driving Demand
Stringent regulations by several governments pertaining to environmental friendly performance is the most prominent driver of the global refinery catalysts market. The Environmental Protection Agency( EPA) and the Registration, Evaluation, Authorization and Restriction of Chemicals( REACH) are strictly curtailing sulfur and NOx emissions from refinery, and thereby are augmenting the demand for refinery catalysts. The requirement to optimize tight oil and sour crude processing as well as complexity of refineries are other factors favoring the growth rate.
Moreover, rapidly increasing number of passenger vehicles is escalating the demand for low-sulfur fuels. In India, which resides vast population, government has decided to set new emission regulation norms, the Bharat Stage VI, which will significantly increase the demand for refinery catalysts form this country-wide market. The inclination of European Commission towards decreasing the GHG emissions, along with regulatory bills to promote biofuel industry are anticipated to propel the demand for enzyme catalysts in the Europe refinery catalysts market.
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