Refinery Catalysts Market Research Report

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Refinery Catalysts Market: GMI Research's recent analysis, global refinery catalyst market, forecast to 2027, analyzes the trends in this market and how they are evolving across the different key geo...
GMI Research's recent analysis, global refinery catalyst market, forecast to 2027, analyzes the trends in this market and how they are evolving across the different key geographic regions of the world. The strong demand for petroleum and chemicals/ products obtained from petroleum and growing tight oil production in Russia, Argentina, the U.S., and China are the key factors driving the growth of the refinery catalyst market.
Request for a FREE Sample Report on Refinery Catalysts Market The strong demand for petroleum and chemicals/ products obtained from petroleum is a major factor surging the growth of the global refinery catalysts market. Furthermore, the rising demand for high octane fuel in economies like India, Germany, Japan, U.K., and U.S., owing to stringent regulations, is driving the growth of the market.
Moreover, refinery catalysts are mostly utilized for counter issues, such as the heat balance effect in tight oil processing and metal contamination. In addition to this, growing tight oil production in Russia, Argentina, the U.S., and China is another factor that boosts market growth.
Additionally, the increasing availability of substitute fuels, which includes biofuel, followed by the increasing adoption of various environmental policies and "Go Green" campaigns by numerous countries, is further propelling the growth of the global refinery catalysts market. Manufacturers in the catalyst industry globally emphasize on developing catalysts that can handle all types of feedstock and make sure easy, stable, profitable hydrocracking, hydrotreating applications, and reliable.
All these factors are supporting the market growth. Based on the region, the Asia-Pacific is projected to increase at a higher CAGR in the upcoming years due to the rising number of private sector organizations in China and India like Drivol Lubricants and Oilmax Energy Pvt.
Ltd. Furthermore, the increasing development capacities of oil production in refineries of emerging countries in this region are further accelerating the market growth.
For example, Indian Oil Corp. Ltd.
announced to invest INR 1.8 trillion for the growth of Gujarat and Barauni refineries to further increase the refining capacity nationwide. These factors are energizing the growth of the refinery catalysts market in Asia-Pacific.
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