Global Refinery Catalysts Market Grows Steadily at a CAGR of 4.50%

Introduction

Refinery catalysts are materials utilized in petroleum refineries to speed up chemical reactions during the refining process without undergoing any permanent change themselves. They are essential in key refining operations such as catalytic cracking, hydrocracking, and hydrotreating, where they help transform crude oil into high-value products like gasoline, diesel, jet fuel, and various petrochemicals. By using these catalysts, refineries can achieve higher yields, enhance fuel quality, and minimize environmental pollutants. Common catalysts include zeolites, metals, and metal oxides. With growing global energy needs and increasingly strict environmental regulations, the demand for more efficient and eco-friendly refinery catalysts is on the rise.

Market Dynamics

Surge in global demand for petroleum-derived fuel products drives the global market

The rising global demand for petroleum-based fuels is a major factor propelling the refinery catalysts market. As the consumption of gasoline, diesel, and jet fuel continues to grow, particularly in developing regions, there is an increasing need for more efficient and advanced refining technologies.

• The International Energy Agency (IEA) forecasts that global oil demand will rise by more than 1 million barrels per day (bpd) in 2025, reaching approximately 103.9 million bpd. This represents a notable increase compared to the 830,000 bpd growth recorded in 2024.

This upward trend in fuel demand underscores the necessity for refining solutions that not only boost fuel production capacity but also comply with strict environmental standards, thus fueling the adoption of catalysts that improve both efficiency and output quality.

The development of advanced catalysts for heavy oil upgrading and residue conversion creates tremendous opportunities

One of the key growth opportunities in the global refinery catalysts market is the innovation of advanced catalysts tailored for heavy oil upgrading and residue conversion. As the availability of light crude oil continues to decline, refineries are turning to heavier and more complex crude sources, which demand more resilient and effective catalytic systems. These advanced catalysts enable the transformation of heavier oil components into lighter, higher-value fuels such as gasoline, diesel, and jet fuel.

• A recent study published by Cornell University in March 2024 highlights the potential of using supercritical carbon dioxide (scCO₂) in producing nanostructured metal catalysts. These catalysts demonstrate strong performance in reactions like oxidation and hydrogenation, both of which are vital for upgrading heavy oil fractions. The scCO₂-assisted synthesis method presents a promising pathway for developing efficient metal catalysts aimed at producing fine chemicals and fuels from biomass-based materials.

Such technological advancements are instrumental in enhancing refinery efficiency and aligning the industry with sustainability goals.

Regional Analysis

The Asia Pacific region holds a dominant position in the global refinery catalysts market due to rapid industrialization, urbanization, and a rising demand for cleaner fuels. Countries like China and India are expanding refining capacities to meet growing energy consumption, with mega projects such as India’s Ratnagiri Refinery and China’s Guangdong Petrochemical Complex driving catalyst demand.

Additionally, nations like South Korea and Japan are upgrading existing refineries to comply with stringent environmental regulations, increasing the need for hydroprocessing and FCC catalysts. The region’s shift toward processing heavier crudes and renewable feedstocks is boosting the demand for advanced and customized catalyst formulations. Moreover, increasing government support for energy transition and emission reduction, as seen in initiatives like China’s dual carbon goal and India’s National Bio-Energy Mission, is creating new growth avenues for eco-efficient refinery catalysts across the Asia Pacific.

Regional Analysis

The Asia Pacific region holds a dominant position in the global refinery catalysts market due to rapid industrialization, urbanization, and a rising demand for cleaner fuels. Countries like China and India are expanding refining capacities to meet growing energy consumption, with mega projects such as India’s Ratnagiri Refinery and China’s Guangdong Petrochemical Complex driving catalyst demand.

Additionally, nations like South Korea and Japan are upgrading existing refineries to comply with stringent environmental regulations, increasing the need for hydroprocessing and FCC catalysts. The region’s shift toward processing heavier crudes and renewable feedstocks is boosting the demand for advanced and customized catalyst formulations. Moreover, increasing government support for energy transition and emission reduction, as seen in initiatives like China’s dual carbon goal and India’s National Bio-Energy Mission, is creating new growth avenues for eco-efficient refinery catalysts across the Asia Pacific.

Key Highlights

• The global refinery catalysts market size was valued at USD 5.82 billion in 2024 and is estimated to grow from USD 6.08 billion in 2025 to reach USD 8.64 billion by 2033, growing at a CAGR of 4.50% during the forecast period (2025–2033).
• By product, the global refinery catalysts market is segmented into zeolites, metallic, chemical compounds, and others. The zeolites dominated the market.
• By application, the market is divided into FCC (fluid catalytic cracking) catalysts, alkylation catalysts, hydrotreating catalysts, hydrocracking catalysts, catalytic reforming, and others. The FCC (fluid catalytic cracking) catalysts segment held a dominant share of the market.
• Asia-Pacific is the highest shareholder in the global market.

Competitive Players

1. WR. Grace & Co.
2. Albemarle Corporation
3. BASF SE
4. Honeywell UOP
5. Haldor Topsoe A/S
6. Clariant AG
7. Shell Catalysts & Technologies
8. Axens
9. Johnson Matthey
10. Sinopec Catalyst Co., Ltd.

Recent Developments

• In October 2024 – Bharat Petroleum Corporation Limited (BPCL) has commenced the commercial use of its locally developed FCC Bottoms Cracking Additive, named "Bharat BCA," at its Mumbai Refinery. This development marks a significant milestone in BPCL's pursuit of efficient, sustainable, and cost-effective refining technologies.

Segmentation

1. By Product
   1. Zeolites
   2. Metallic
   3. Chemical Compounds
   4. Others
2. By Application
   1. FCC Catalysts
   2. Alkylation Catalysts
   3. Hydrotreating Catalysts
   4. Hydrocracking Catalysts
   5. Catalytic Reforming
   6. Others
3. By Regions
   1. North America
   2. Europe
   3. Asia-Pacific
   4. Latin America
   5. The Middle East and Africa