The global Hydrodesulfurization Catalysts market size is expected to be worth around US$ 3.47 billion by 2027, according to a new report by Vision Research Reports.
The global Hydrodesulfurization Catalysts market size was valued at US$ 2.45 billion in 2019 and is anticipated to grow at a CAGR of 4.3% during forecast period 2020 to 2027.
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Hydrodesulfurization Catalysts Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 – 2027 – Breakdown Data by Regions, Type, Manufacturers and Applications
Growth Factors
The market is driven by growing regulatory norms regarding the application of cleaner and low-sulfur fuels across the geographies. There has been a paradigm shift in the demand for desulphurization catalysts over the past few years owing to a progressive move towards ultra-low sulfur (ULS) marine fuels, heating oils, and jet fuels.
The market is expected to be majorly driven by the low-sulfur mandates for automotive fuels and desulfurization unit additions in refineries across the geographies.
Paradigm shift towards clean fuels, including ultra-low sulfur- diesel and, for road transportation, aviation, and marine sectors, along with the implementation of some strict automotive fuel mandates, such as the International Maritime Organization (IMO) 2020 mandate, worldwide aiming to reduce sulfur emissions from ocean vessels by 80%, is expected to create significant growth opportunities for the hydrodesulfurization catalysts globally.
Report Highlights
- Load type catalysts emerged as the largest type segment in 2019 for being more economical and efficient
- Diesel emerged as the prominent application segment of the market with a revenue share of 48.3% in 2019 owing to its mounting demand from the end-use industries
- Naphtha application of the product is likely to expand at a CAGR of 4.4% from 2020 to 2027 on account of growing low-sulfur mandates
- In 2019, North America emerged as the largest regional market for hydrodesulfurization catalysts with a revenue share of 30.1%
- IMO 2020 mandate is expected to be one of the prominent market growth factors driving the marine industry
- Manufacturers’ focus towards non-load type is likely to increase in the near future as the segment is projected to expand at a CAGR of 4.8% over the forecast period.
Key Players
- Albemarle Corporation
- Advanced Refining Technologies
- Sinopec Corp.
- Haldor Topsoe A/S
- Royal Dutch Shell PLC
- PetroChina Company Limited (CNPC)
- Axens SA
- JGC C&C
- Honeywell International Inc
- Johnson Matthey Plc
Market Segmentation
Hydrodesulfurization Catalysts Type Outlook
- Load Type
- Non-load Type
Hydrodesulfurization Catalysts Application Outlook
- Diesel
- Naphtha
- Others
Hydrodesulfurization Catalysts Regional Outlook
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- GCC
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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