Fluid Catalytic Cracking Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product Type (Lanthanum Oxide, and Zeolite), By Technical Configuration (Side-By-Side Type, and Stacked Type), By End User (Refinery, Environmental, and Others), By Region, and Competition.
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationFluid Catalytic Cracking Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product Type (Lanthanum Oxide, and Zeolite), By Technical Configuration (Side-By-Side Type, and Stacked Type), By End User (Refinery, Environmental, and Others), By Region, and Competition.
The global fluid catalytic cracking (FCC) market refers to the market for the production and use of FCC catalysts and related equipment in the refining of crude oil. FCC is a critical process in the petroleum refining industry, where heavy crude oil is broken down into lighter, more valuable products such as gasoline, diesel, and jet fuel.
The FCC market is driven by the growing demand for refined petroleum products worldwide, as well as the need for improved efficiency in the refining process. FCC catalysts are essential in the FCC process, and advancements in catalyst technology are expected to continue driving growth in the market.
Advancements in Shale Oil and Gas Production Driving the Fluid Catalytic Cracking Market Growth
Advancements in shale oil and gas production have had a significant impact on the global fluid catalytic cracking (FCC) market. Shale oil and gas production has increased crude oil production in regions like North America, and the FCC process is essential in converting the heavier crude oil produced from shale into lighter, more valuable products. The primary advantages of shale oil and gas production is that it produces a lot of less concentrated refined crude oil, which is highly desirable for refiners. However, this crude oil also contains a significant amount of impurities, which require more sophisticated refining processes to convert into valuable products. The FCC process is an essential refining process in this regard, as it is highly effective in breaking down heavy crude oil into lighter, more valuable products.
The increased production of shale oil and gas has also led to lower crude oil prices, which has made it more economically feasible for refiners to invest in more advanced refining processes, such as the FCC process. As a result, the FCC market has seen increased demand for FCC catalysts and related equipment. Additionally, the development of shale gas has also led to the production of more natural gas liquids (NGLs), which can be used as feedstock for petrochemicals. The FCC process can also be used to convert these NGLs into valuable petrochemicals like ethylene and propylene.
In the United States, the refining industry accounted for 4.4% of the country's gross domestic product (GDP) in 2019. Within the refining industry, FCC units are critical for producing gasoline and other refined products
Increasing Demand for Petroleum Products are Factor Propelling the Market Growth
Increasing demand for petroleum products has had a significant impact on the global fluid catalytic cracking (FCC) market. Petroleum products like gasoline, diesel, and jet fuel are essential for transportation and the functioning of various industries worldwide. As the demand for these products continues to grow, the fluid catalytic cracking process plays a crucial role in meeting this demand by converting heavy crude oil into lighter, more valuable products.
The FCC process is the most widely used refining process in the world, and it is estimated to account for more than 40% of global gasoline production.
Moreover, the demand for jet fuel has also been increasing steadily due to the growth of the aviation industry. The fluid catalytic cracking process is essential in producing jet fuel, and as the demand for jet fuel continues to grow, the FCC market is expected to experience increased demand for jet fuel-specific catalysts. Therefore, all these drivers are expected to propel the demand of the fluid catalytic cracking market I the forecasted period.
Increasing Investment in the Refining Industry Boosting the Market Growth
In India, the demand for petroleum products is expected to grow at a CAGR of 4.2% from 2018 to 2030. The FCC process is expected to play a key role in meeting this demand by producing gasoline, diesel, and other refined products
Recent Development
- In 2022, BASF launched New
Fourtitude™ FCC catalyst maximizes butylene’s levels and helps in improving
performance for refiners. It works on multiple framework topology
(MFT) technology, which optimizes to deliver superior selectivity to butylene’s
along with maintaining catalyst activity, resulting in a higher conversion
of feedstock into valuable fuels. The catalyst also reduces the production
of unwanted byproducts, which can lower the cost of refining.
- In 2021, Albemarle Corporation introduces
Action+â„¢ Catalyst Technology which is next generation butylene yields and
gasoline octane for refineries worldwide. It leverages the core technology
of ACTION in conjunction with a new, innovative Y-zeolite stabilization
system, ZT-500 and provide a feasible solution to industries.
Market Segmentation
Global fluid catalytic cracking market
Company Profiles
Albemarle Corporation, W.R. Grace & Co, BASF SE, Johnson Matthey Plc, Arkema SA, JGC CORPORATION, Flour Corporation, Shell Plc, Honeywell International Inc., and Exxon Mobil Corporation
|
Attribute |
Details |
|
Base
Year |
2022 |
|
Historic
Data |
2018 –
2021 |
|
Estimated
Year |
2023 |
|
Forecast
Period |
2024
– 2028 |
|
Quantitative
Units |
Revenue in USD Million and CAGR for 2018-2022 and 2023-2028 |
|
Report
coverage |
Revenue forecast, company share, competitive landscape, growth
factors, and trends |
|
Segments
covered |
Type Technical Configuration End
User |
|
Regional
scope |
North America, Europe, Asia Pacific, South America, Middle
East & Africa |
|
Country
scope |
United States, Mexico, Canada, France, Germany, United Kingdom,
Spain, Italy, China, India, South Korea, Japan, Australia, Brazil, Argentina,
Colombia, South Africa, Saudi Arabia, UAE |
|
Key
companies profiled |
Albemarle Corporation, W.R. Grace & Co, BASF SE, Johnson
Matthey Plc, Arkema SA, JGC CORPORATION, Flour Corporation, Shell Plc,
Honeywell International Inc., and Exxon Mobil Corporation |
|
Customization
scope |
10% free report customization with purchase. Addition or alteration
to country, regional & segment scope. |
|
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and purchase options |
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Format |
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