Saudi Arabia Catalyst Market, By Type (Heterogeneous Catalysts, and Homogeneous Catalysts), By Material (Zeolites, Chemical Compounds, Metals, and Additives), By Region, Competition, Forecast and Opportunities 2028
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 CustomizationSaudi Arabia Catalyst Market, By Type (Heterogeneous Catalysts, and Homogeneous Catalysts), By Material (Zeolites, Chemical Compounds, Metals, and Additives), By Region, Competition, Forecast and Opportunities 2028
Financial support of USD 24.35 billion for the environment, water, and agriculture sectors has been allotted to achieve their Vision 2030 goals.
Catalyst cracking is an endothermic process while hydrocracking is an exothermic process. While catalytic cracking and hydrocracking involve the use of catalysts, catalytic cracking doesn’t involve the use of hydrogen.
Saudi Export Development Authority and the EXIM bank program are supporting businesses as 60% of local demand is being met by exports under the government of Saudi Arabia's ambition to boost the country's pharmaceutical industries to USD 10 billion in 2025.
Increasing Demand from Refinery for Catalytic Cracking
Refiners must carry out refining process with as few environmental pollutants as possible due to the rise in the number of rigorous environmental laws on emissions from refineries. Refining catalysts are one of the greatest solutions to implement these ever-increasing environmental restrictions in the refining process. Catalysts are mostly utilized in the cracking of feedstock components in petroleum refining to boost the production of high-quality products. Along with cost and energy savings, the use of a catalyst encourages the optimization of hydrocracking reactions. This has aided market expansion for applications related to petroleum refining. As per the International Trade Administration, Saudi Arabia is the dominant player in the Middle East and North Africa (MENA) region, which is growing at an extraordinary rate of 36%. Moreover, Saudi Arabia accounted for 52% of the vehicles sold in the Gulf Cooperation Council (GCC) and 35% in the MENA region in 2021. Any chemical compound with a dual purpose that is employed in refineries to speed up the refining of raw materials while also controlling the rate of the chemical reaction is referred to as a refining catalyst. The process of turning used dangerous catalysts into safe materials is known as refining catalysts. A refining catalyst is a chemical that is utilized as a catalyst in refineries to refine raw materials. On the other hand, the process of purifying spent, or tainted catalysts is also known as refining catalysts.
Rising Demand from Flourishing Petrochemicals Industry
Saudi Arabia is one of the greatest exporters of petroleum and is home to over 17% of the world's proven oil reserves. Aramco produced 12.4 mmbpd of hydrocarbons on average in 2020, 9.2 mmbpd of which were crude oil. In contrast, Aramco produced 11.6 mmbpd of hydrocarbons on average in the first half of 2021, with crude oil accounting for 8.6 mmbpd of that total. Saudi Arabia's output increased in step with the gradual increase in organization of the petroleum exporting companies quotas; as of June 2022, Saudi Arabia was producing 10.3 mmbpd of crude oil.
Recent Development
- In January 2022, Honeywell has announced the opening of a new production facility for oil and gas projects in Saudi Arabia. To provide a cutting-edge infrastructure for the manufacturing and assembly of natural gas and liquid fuel solutions, the facility has been established as a part of a Joint Venture (JV) agreement with Gas Arabian Services. This initiative expands on the commitments made in the memorandum of understanding (MOU) between Honeywell and Saudi Aramco, which was signed in May 2017. As part of that agreement, Honeywell agreed to make commercial efforts to support Saudi Aramco in attaining the objectives of the In-Kingdom Total Value Add (IKTVA) Program. In-Kingdom Total Value Add (IKTVA) wants to promote Saudi Vision 2030 by achieving 70% localization of production and employment. Also, Honeywell invested in Dhahran, Saudi Arabia on new catalytic processes for producing paraxylene.
- In January 2019, A Joint Development and Cooperation Agreement (JDCA) was signed by Saudi Aramco Technologies, Axens, and TechnipFMC to hasten the development and commercialization of the Catalytic Crude to Chemicals (CC2C) technology. By converting more than 60% of a barrel of crude oil into chemicals, CC2C technology has the potential to greatly improve the yield and efficiency of the manufacturing of chemicals. Members of the FCC catalyst technology Alliance include Saudi Aramco, Axens, and TechnipFMC. Axens and TechnipFMC are two of the top suppliers of technology and infrastructure for the energy sector and the sole licensors of the FCC catalyst technology. The IEA estimates that to meet the demand, an additional 4 Mbpd of crude oil must be transformed into petrochemicals by 2035. The development of CC2C technology offers a rare chance to purchase cutting-edge equipment that will be highly valued by the market to produce petrochemicals from crude oil.
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Market Segmentation
Saudi Arabia Catalyst Market is segmented
Market Players
BASF Saudi Arabia Co. Ltd., Honeywell UOP, Axens Catalyst Arabia Ltd (ACAL), Sinopec Catalyst Co. Ltd., Shell plc (Shell Catalysts & Technologies), SABIC Industrial Catalyst Company, Arkema Chemicals Saudi Arabia, Haldor Topsoe Middle East, Clariant Ali Al Abdullah Al Tamimi Company Ltd, and AFI Group are some of the key players operating in the Saudi Arabia Catalyst Market.
| Attribute | Details |
| Market Size Value in 2022 | USD 941.92 million |
| Revenue forecast in 2028 | USD 1229.48 million |
| Growth Rate | 4.50% |
| Base Year | 2022 |
| Historic Data | 2018 – 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume in thousand tonnes for 2018-2022 and 2023E-2028F |
| Report coverage | Revenue forecast, Volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | Type Material |
| Regional scope | Eastern; Northern & Central; Southern; Western. |
| Key companies profiled | BASF Saudi Arabia Co. Ltd., Honeywell UOP, Axens Catalyst Arabia Ltd (ACAL), Sinopec Catalyst Co. Ltd., Shell plc (Shell Catalysts & Technologies), SABIC Industrial Catalyst Company, Arkema Chemicals Saudi Arabia, Haldor Topsoe Middle East, Clariant Ali Al Abdullah Al Tamimi Company Ltd, and AFI Group |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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