Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Refinery Catalyst Market Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the metals and mining industry. This report breaks down the data and analysis behind the procurement of refinery catalyst and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Refinery Catalyst Procurement Market Intelligence Report (Graphic: Business Wire)
"The demand for refinery catalysts will be driven primarily by a shift toward clean fuel by end-users of fuels due to stringent government policies around fuel standards," says SpendEdge procurement analyst Angad Singh. "Suppliers are trying to expand their product portfolios through M&A to enable them to offer a wide range of products for various refining processes," added Angad.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Refinery Catalyst Market:
- Capacity expansions by major refineries across geographies
- Usage of zeolites in refinery processes
- Investments new efficient technologies and units
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Capacity expansions by major refineries across geographies:
As refineries are planning the extensions of their capacities in countries such as India and China, a significant increase in demand for refinery catalysts is expected. This is likely to provide better negotiation opportunities to buyers based on the purchased volumes. Moreover, this will enable buyers to enhance their reach and capture greater market shares across regions.
Usage of zeolites in refinery processes:
Zeolites have become the building blocks of the petrochemical industry and are used to maximize the yield of gasoline and other transportation fuels such as diesel or jet fuel. It wide-spread adoption is attributed to factors like high thermo-stability, limited or no corrosion, and reduced wastage.
Investments in new efficient technologies and units:
Countries such as the US, Canada, China, and India have adopted laws and regulations that mandate a reduction in emissions of sulfur, carbon monoxide, nitrogen oxide, and hydrocarbons. The oil refiners are making investments to upgrade the existing refinery units and set up new units with technologies such as BDS process, the hydrogenation-bacterial catalysis method, and the microwave-catalytic hydrogenation method to comply with such regulations.
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