Catalysts in Petroleum Refining and Petrochemical Market Size, Share, Growth, and Industry Analysis, By Type (FCC Refining Catalysts,Hydrotreating Catalysts,Hydrocracking Catalysts,Desulfurization Catalyst,Other), By Application (Refinery,Oil Processing Enterprises,Other), Regional Insights and Forecast to 2033

Catalysts in Petroleum Refining and Petrochemical Market Overview

The Catalysts in Petroleum Refining and Petrochemical Market size was valued at USD 4709.95 million in 2024 and is expected to reach USD 6558.34 million by 2033, growing at a CAGR of 3.4% from 2025 to 2033.

The catalysts in petroleum refining and petrochemical market plays an essential role in global fuel and chemical production, processing more than 101.2 million barrels per day of crude oil at refineries worldwide. In 2024, the dedicated global market for refinery catalysts was valued between USD 4.82 billion and USD 5.6 billion, varying by source. Notably, Asia‑Pacific accounted for approximately 35 % of market share in 2023, equating to nearly USD 1.7 billion in catalytic product volume. FCC (fluid catalytic cracking) catalysts dominate applications; over 400 FCC units were operational globally as of 2006, processing roughly 5.3 million barrels/day in the U.S. alone.

The average FCC catalyst circulation rate is around 5 kg per kg of feedstock, translating to over 55,900 tonnes per day in units processing 75,000 bbl/day. In India, 23 crude‑oil refineries had a combined capacity of nearly 249 Mt per year as of March 2021, with utilization of 88.8 %, supporting significant catalyst integration. These catalysts—covering FCC, hydrotreating, hydrocracking, and desulfurization—are indispensable for converting heavy gas oil fractions with molecular weights of 200–600+ into high‑octane transportation fuels and petrochemical intermediates

Key Findings

Driver: The deployment of over 400 active FCC units, processing about 14.2–14.4 million barrels per day of heavy feedstock globally in 2023, underscores the critical demand for efficient petroleum refining catalysts.

Top Country/Region: Asia-Pacific leads, accounting for approximately 35–46 % of the global catalyst market in 2023, equating to around USD 1.7–3.3 billion in catalyst demand.

Top Segment: Hydrotreating catalysts dominate, capturing roughly 68–69 % share by type and contributing over USD 1.28 billion in 2023 market value.

Catalysts in Petroleum Refining and Petrochemical Market Trends

The global refinery catalyst market saw a rise of 12 % in demand for low‑sulfur fuel catalysts in 2024, driven by stricter sulfur limits and cleaner fuel standards. Within this, FCC catalysts constituted 40 % of total demand, with consumption up by 9 %, and Asia‑Pacific FCC usage specifically grew 14 % year-over-year. Modified FCC catalysts—engineered for 10 % higher yield and lower coke buildup—are emerging strongly, with deployment spanning 275 units in China alone as of 2023. Hydrocracking catalysts registered an estimated USD 2.5 billion global market size in 2023, with approximately 398–450 million USD in volume, and hydrocracking unit installations surged, catering to increased demand for diesel and jet fuel across Middle Eastern and Latin American refiners. HD fuel demand drove a 7 % annual increase in ULSD production using hydrocracking catalysts between 2018–2023.

Zeolite-based catalysts led materials usage in 2024, representing 32.8 % of the refinery catalyst market (~USD 2.7 billion of the USD 8.24 billion total). These catalysts witnessed a 10 % adoption boost globally, with Y-type rare-earth zeolite catalysts demonstrating 4.2 % uplift in gasoline yield during East Asian refinery trials. Petrochemical refining catalysts reached an estimated USD 48.2 billion in 2024, with Asia‑Pacific holding 38 % share, North America 28 %, Europe 20 %, Latin America 10 %, and Middle East & Africa 7 %. Within applications, petroleum refining accounted for 58 % of demand, while petrochemical use claimed 42 %. As petrochemical producers scaled olefin capacities, Asia’s share grew amid 6.7 million bpd of oil dedicated to petrochemicals in China.

Catalysts in Petroleum Refining and Petrochemical Market Dynamics

DRIVER

Rising demand for ultra-low sulfur fuels and clean fuel mandates

The rising global demand for ultra-low sulfur diesel (ULSD) and other cleaner-burning fuels is one of the primary growth drivers for the catalysts in petroleum refining and petrochemical market. As of 2023, over 75 countries have adopted fuel sulfur content limits below 50 ppm, with some advanced economies enforcing levels below 10 ppm. This has led to a global surge in demand for hydrotreating and hydrodesulfurization catalysts, which account for over 68% of catalyst consumption by type. In the Asia-Pacific region, particularly in China and India, the adoption of Bharat Stage VI and China VI norms led to a 24% increase in demand for desulfurization catalysts between 2021 and 2023.

RESTRAINT

Market saturation in mature regions and environmental disposal concerns

Mature markets like North America and Western Europe face slow growth due to already existing high penetration of advanced catalyst systems and limited refinery expansions. In 2023, over 92% of FCC units in the U.S. had already adopted modern, high-efficiency catalyst systems. This saturation slows the growth of new catalyst demand in these regions. Additionally, spent catalyst disposal has emerged as a regulatory and logistical hurdle. Refineries generate approximately 200,000 to 250,000 tonnes of spent catalysts globally each year.

OPPORTUNITY

Expansion of refinery capacity and petrochemical integration in Asia and the Middle East

The global trend toward refinery-petrochemical integration is unlocking significant opportunities for catalyst manufacturers. China’s crude-to-chemicals (C2C) projects, including Zhejiang Petrochemical and Hengli Petrochemical, process over 20 million tonnes/year of crude oil into chemicals, boosting demand for both refining and petrochemical catalysts. Saudi Arabia’s integrated refining-petrochemical complexes under SABIC and Aramco are also driving demand for dual-function catalysts.

CHALLENGE

Rising raw material costs and pricing pressures

One of the most significant challenges is the rising cost of raw materials used in catalyst manufacturing. Components such as rare-earth metals (e.g., lanthanum, cerium) and transition metals like molybdenum, cobalt, and nickel have seen price hikes. For example, nickel prices rose from $16,000/tonne in 2020 to over $23,000/tonne in 2024, directly affecting hydrocracking catalyst production costs. These fluctuations are compounded by geopolitical instability in regions rich in metal ores (e.g., Africa and Latin America). Simultaneously, refining companies are demanding higher performance catalysts with longer lifespans but at lower prices.

Catalysts in Petroleum Refining and Petrochemical Market Segmentation

The catalysts in petroleum refining and petrochemical market is segmented based on type and application, with distinct demand patterns across each category. Catalyst selection is determined by feedstock quality, end-product requirements, and regulatory mandates. As of 2024, hydrotreating catalysts led the market in volume due to the extensive requirement for sulfur and impurity removal in crude streams. By application, refineries remain the dominant consumers, accounting for over 58% of global demand, while petrochemical enterprises contributed around 42%, primarily focused on olefin, aromatics, and intermediate chemical production. This dual-application structure offers multiple growth points across refining and chemical verticals.

By Type

• FCC Refining Catalysts: are vital for breaking down heavy hydrocarbons into lighter, valuable products like gasoline and olefins. As of 2023, over 400 FCC units are operational globally, processing more than 14 million barrels per day, with FCC catalysts accounting for approximately 40% of all catalyst consumption by volume. These catalysts are typically zeolite-based and require frequent replacement, with average usage of 0.2 to 0.3 kg per barrel of feedstock.
• Hydrotreating Catalysts: are primarily used to remove sulfur, nitrogen, and aromatics from middle distillates and naphtha. They comprise over 68% of total refining catalyst demand, driven by stricter fuel regulations in Asia and Europe. These catalysts utilize active metals like nickel, molybdenum, and cobalt, often supported on alumina. In 2023, the global consumption of hydrotreating catalysts exceeded 2.6 million tonnes, particularly for ultra-low sulfur diesel (ULSD) production.
• Hydrocracking Catalysts: are used in units that produce high-quality diesel, jet fuel, and base oils. These catalysts operate under high hydrogen pressure and typically use nickel, tungsten, or palladium. Hydrocracking units processed over 5 million barrels/day globally in 2023, with catalyst consumption rising 11% annually in Asia-Pacific. Catalyst life varies from 2 to 4 years, depending on feed quality.
• Desulfurization Catalysts: target removal of sulfur compounds from various boiling fractions to comply with environmental norms such as Euro VI and IMO 2020. These are usually composed of cobalt-molybdenum or nickel-molybdenum supported on alumina. In 2023, over 3.2 million tonnes of diesel were desulfurized daily using these catalysts. Global demand for these catalysts is expected to grow in regions still transitioning to low-sulfur fuels, including Latin America and parts of Africa.
• Other: This category includes isomerization, alkylation, and reforming catalysts used in specialty processing. Reforming catalysts—usually platinum-based—enable octane enhancement and aromatics production. The global market for reforming catalysts alone accounted for over USD 820 million in 2023. Isomerization catalysts also saw increased use in India and Southeast Asia, where octane norms have tightened.

By Application

• Refinery: applications account for over 58% of catalyst demand and span FCC, hydrocracking, hydrotreating, and desulfurization units. As of 2023, there were over 650 major operational refineries, with total crude processing exceeding 100 million barrels/day. Refineries use an average of 2.5–3.5 tonnes of catalyst per 1,000 barrels/day capacity annually. In mature markets like the U.S., over 90% of refineries have upgraded to advanced catalyst systems due to emission and efficiency mandates.
• Oil Processing Enterprises: These enterprises include independent processors and contract refiners converting specific feedstocks (e.g., vacuum gas oil, straight run naphtha) into high-value outputs. Such enterprises collectively consumed 15–20% of global catalysts in 2023, especially hydroprocessing and reforming types. Demand surged in Asia, where capacity expansions exceeded 1.4 million bpd in 2022–2024.
• Other: This includes petrochemical industries focusing on aromatics, olefins, and polymer intermediates. Here, catalysts such as those for steam cracking furnaces, reformers, and alkylation are crucial. In 2023, global petrochemical output crossed 400 million tonnes, of which 35% required catalytic conversions. China, South Korea, and Saudi Arabia were the top three contributors.

Catalysts in Petroleum Refining and Petrochemical Market Regional Outlook

• North America

the United States remains a leader with over 130 operational refineries processing approximately 17.9 million barrels per day as of 2024. The region consumes roughly 2.2 million tonnes of refining catalysts annually, with FCC and hydrotreating catalysts representing over 75% of usage. The shift toward renewable fuels has spurred demand for bio-feed compatible catalysts, growing at 8% per year.

• Europe

is characterized by stringent fuel quality standards, notably EN 228 and EN 590, which require ultra-low sulfur content in fuels. The region’s 95 operational refineries process approximately 13.4 million barrels per day. Europe’s refining catalyst consumption was estimated at 1.8 million tonnes in 2023, dominated by hydrotreating catalysts, which account for nearly 70% of volume.

• Asia-Pacific

leads the market, driven by massive capacity expansions and tightening environmental policies. The region accounted for 35–46% of global catalyst demand in 2023, equating to nearly 3.8 million tonnes. China alone operates over 170 refineries, with a combined capacity of 17 million barrels/day. Hydrotreating catalyst demand rose by 24% in 2022–2023 due to China VI standards.

• Middle East & Africa

refinery capacity expansion is rapid, particularly in Saudi Arabia, Kuwait, and the UAE. The region processed approximately 10.2 million barrels/day in 2023 and is on track to exceed 12 million barrels/day by 2026. Integrated refinery-petrochemical complexes, such as Yanbu Aramco Sinopec Refining (400,000 bpd), have driven significant catalyst demand, especially for dual-function FCC and hydrocracking catalysts. Africa’s refinery upgrades in Algeria, Nigeria, and Egypt have also boosted catalyst demand, with hydrotreating catalysts rising 18% year-on-year as new sulfur reduction mandates are enforced.

List of Top Catalysts in Petroleum Refining and Petrochemical Companies.

• BASF SE
• Nippon Ketjen
• Dow Chemical
• Evonik Industries
• Akzo Nobel
• Honeywell
• Solvay S.A
• Tokyo Chemical
• Solvionic SA
• Sinopec
• Clariant
• INTERCAT
• Engelhard
• Johnson Matthey
• Porocel Corporation
• R. Grace & Co
• Qingdao Huicheng Environmental Technology Co. Ltd.
• Qingdao Zoranoc Oilfield Chemical Co. Ltd.
• Taiyo Koko Co. Ltd.
• Yueyang Sciensun Chemical Co. Ltd

R. Grace & Co: held the leading share in the global FCC catalyst segment, accounting for approximately 35% of the global FCC catalyst supply. The company has FCC catalyst manufacturing facilities in the U.S., Germany, and China and supplies catalysts to over 130 active FCC units worldwide. Its high-performance “Optimix” catalyst line boosted gasoline yields by 4.5% in recent customer trials in North America.

BASF SE: is a major player in hydroprocessing and hydrogenation catalysts, contributing to over 20% of the global hydrotreating catalyst market. The company operates large-scale catalyst production facilities in Germany and the U.S., with a total catalyst output of over 200,000 tonnes per year. BASF’s “FortiForm” platform helped refineries in Asia achieve 12% longer catalyst life and 15% lower sulfur emissions in diesel production.

Investment Analysis and Opportunities

The global catalysts in petroleum refining and petrochemical market is undergoing a significant wave of investments driven by both capacity expansion and technological advancements. In 2023, capital expenditures on catalyst production facilities exceeded USD 1.2 billion globally, reflecting high demand for cleaner fuels and integrated refining-petrochemical operations. The Asia-Pacific region accounted for over 42% of new catalyst manufacturing capacity additions during the year, with China and India leading the way. Major refinery expansions are fueling catalyst demand. For instance, Saudi Aramco and SABIC are investing over USD 20 billion in integrated refinery-petrochemical complexes such as Ras Al Khair and Yanbu, which will require an estimated 100,000 tonnes of advanced catalysts annually when operational by 2026. In India, the Paradip Refinery’s expansion from 15 to 25 million tonnes per year will drive demand for FCC and hydrocracking catalysts, with projected consumption increases of 15–18% in the next three years. Petrochemical investments are another growth driver. China’s new C2C complexes processed over 6.7 million bpd of crude into chemicals in 2023, creating opportunities for multi-functional catalysts capable of maximizing olefin yields.

Southeast Asia is emerging as a growth hotspot, with Vietnam’s Nghi Son Refinery planning new petrochemical output expansions, which are expected to increase catalyst demand by 22% between 2024–2026. Sustainability is reshaping investment trends. European refineries are investing heavily in bio-feed compatible catalysts. In 2024, over 1.8 million tonnes of renewable feedstocks such as used cooking oil and animal fats were processed globally, requiring specialized catalysts for impurity removal and stable operation. This niche is growing at 8–9% annually, especially in Europe and North America. Recycling and circular economy initiatives are creating a secondary investment layer. Catalyst recycling services expanded, with Europe achieving 60% recycling rates and North America reaching 48%. Companies such as Johnson Matthey and Clariant are investing in closed-loop catalyst regeneration, reducing environmental impacts and creating new revenue streams. Digitalization is another opportunity area. The integration of real-time catalyst monitoring systems using IoT sensors is growing. Refineries in the U.S. and Middle East equipped over 110 FCC units with such technologies in 2023, which improved catalyst performance tracking and reduced unplanned downtime by 12–15%. 

New Product Development

The global catalysts in petroleum refining and petrochemical market is witnessing rapid innovation in response to tightening fuel standards, evolving feedstocks, and the push toward sustainable operations. In 2023–2024, over USD 850 million was invested globally into catalyst R&D, representing a 15% increase from prior years. This surge is driven by the need for enhanced activity, longer lifespan, and improved selectivity. One of the key areas of development is advanced FCC catalysts. W. R. Grace & Co launched its new Optimix™ Ultra catalyst in 2023, featuring 15% higher activity and 20% better coke selectivity compared to previous generations. It is already deployed in 35 units across North America and Europe. Similarly, BASF introduced FortiForm™ series FCC catalysts in early 2024, which deliver 4.5% higher gasoline yield and 10% reduced sulfur content in product streams. Hydrotreating catalyst innovations are also notable. Honeywell UOP launched a new UNITY™ HDV-5000 catalyst for ULSD production that extends run length by 30% and lowers hydrogen consumption by 12%.

In field trials at European and Asian refineries, these catalysts enabled refiners to meet 10 ppm sulfur requirements with improved efficiency. Clariant’s new EnviCat® N2O series also shows 40% reduction in NOx emissions during hydrotreatment processes. Hydrocracking catalysts are being tailored to process heavier feedstocks and renewable materials. Johnson Matthey’s 2024 launch of TRI-CAT™ X7 catalysts demonstrated 15% higher conversion rates with heavy vacuum gas oils. These catalysts also exhibit improved stability when processing bio-intermediates. New developments are increasingly focusing on hybrid feedstock flexibility, allowing for crude oil and renewable feedstock co-processing. In the desulfurization catalyst segment, Sinopec introduced a new nickel-cobalt-molybdenum catalyst, achieving 5.2% higher desulfurization efficiency in Chinese refineries in 2024. The catalyst is optimized for compliance with China VI-B fuel regulations. Innovations also include platinum-based reforming catalysts with enhanced thermal stability for octane boosting applications. Digital-enabled catalysts are emerging as well. Evonik and Dow Chemical have developed FCC catalyst coatings embedded with nano-sensors, enabling real-time temperature and coke deposition monitoring. Early trials show 8–12% reduction in catalyst consumption due to optimized replacement scheduling. 

Five Recent Developments

• R. Grace & Co. launched the Optimix™ Ultra FCC catalyst in Q3 2023, delivering 15% higher activity and 20% lower coke formation. It was adopted in 35 FCC units across North America and Europe by mid-2024, enhancing overall gasoline yields and operational efficiency.
• Honeywell UOP introduced the UNITY™ HDV-5000 hydrotreating catalyst in 2024, which extends operational run lengths by 30% and reduces hydrogen consumption by 12%. The catalyst is now operational in over 25 refinery units in Europe and Asia, addressing tighter sulfur content regulations.
• Johnson Matthey launched TRI-CAT™ X7 hydrocracking catalysts in 2024, designed for processing heavier vacuum gas oils. Field trials at Middle Eastern refineries demonstrated a 15% increase in conversion rates and improved catalyst longevity, with deployment in 18 hydrocracking units by Q2 2024.
• Sinopec debuted its next-generation nickel-cobalt-molybdenum desulfurization catalyst in early 2024, which achieved a 5.2% increase in desulfurization efficiency during trials across 12 refineries in China, meeting the stringent China VI-B fuel standards.
• BASF scaled up production of FortiForm™ series FCC catalysts in 2024, which improve gasoline yield by 4.5% and lower sulfur emissions by 10%. The new catalyst line is now used in over 40 FCC units across Asia-Pacific and Europe, supporting stricter fuel mandates.

Report Coverage of Catalysts in Petroleum Refining and Petrochemical Market

The report on the catalysts in petroleum refining and petrochemical market offers a detailed and data-driven analysis of the industry’s current state, ongoing trends, emerging opportunities, competitive dynamics, and strategic outlook. It comprehensively covers the full value chain of catalyst application, ranging from crude oil refining to advanced petrochemical processing, integrating insights from key regions including North America, Europe, Asia-Pacific, and the Middle East & Africa. The market is examined based on major catalyst types—including FCC, hydrotreating, hydrocracking, desulfurization, and others—each evaluated for volume share, performance characteristics, feedstock compatibility, and technological evolution. The report quantifies these segments with facts such as FCC catalysts comprising 40% of demand by volume, hydrotreating catalysts accounting for over 68% in sulfur removal applications, and hydrocracking catalysts showing 11–15% annual growth in high-pressure refining environments. Each type’s contribution to production yields, sulfur reduction, and conversion efficiencies is analyzed in detail. On the application side, the report segments usage across refineries, oil processing enterprises, and petrochemical plants.

Refineries, with over 650 units globally processing more than 100 million barrels/day, represent the largest consumer base for these catalysts, particularly in FCC and hydroprocessing units. Meanwhile, petrochemical applications are growing, especially in Asia-Pacific, where over 6.7 million barrels/day of crude oil are converted into high-value chemicals like olefins and aromatics. The regional outlook includes granular analysis of market activity, regulations, and investment trends. Asia-Pacific is covered as the highest growth region, consuming 3.8+ million tonnes of catalysts in 2023. North America’s advanced catalyst penetration and regulatory environment are contrasted with Europe’s stringent environmental compliance and high recycling rates. Middle East & Africa’s surge in capacity expansions and integrated complexes, such as Yanbu Aramco Sinopec (400,000 bpd) and Nigeria’s Dangote Refinery, are also evaluated for catalyst demand growth. The report also includes a thorough competitive landscape, highlighting key manufacturers such as BASF, W. R. Grace & Co., Honeywell, Sinopec, and Clariant. It evaluates product portfolios, production capacities (e.g., BASF’s 200,000 tonnes/year catalyst output), and recent innovations, such as BASF’s FortiForm™ and Johnson Matthey’s TRI-CAT™ X7. Lastly, the report provides insights into investment dynamics, new product developments, challenges like raw material cost volatility, and opportunities such as digital monitoring catalysts and renewable feedstock compatibility. With quantitative insights across all segments, this report serves as a definitive guide for stakeholders seeking strategic direction in the refining and petrochemical catalyst industry.

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