Saudi Arabia Catalyst Market size
is USD 941.92 million and is anticipated to increase at a CAGR of 4.50% in the
forecast period 2023E - 2028F. Catalysis is extremely important in various
phases of the fuel development process. Based on year over year percentage,
demand for catalyst market increased by approximately 4.5% from 2021 to 2022. For
the consistent conversion of crude oil into finished commercial goods, numerous
catalytic processes are required. Delineated arrangement the refining process
consumes up to 30% of all the catalysts produced in the industry. The reduction
of olefins and, to a lesser extent, aromatics of the catalyst is caused by the
catalytic application of hydrogen to various refining streams, which eliminates
heteroatoms, especially those of Sulphur and Nitrogen, which have a negative
environmental impact. The contemporary refinery cycle includes the hydro
processing of final products and intermediate hydrocarbon sources as well as
hydrocracking devices for the upgrade of heavy intermediate products under
various conditions. Financial
support of USD 24.35 billion for the environment, water, and agriculture
sectors has been allotted to achieve their Vision 2030 goals. Catalysts are used as fertilizers along
with raw material to increase nutrient availability in the roots and promote
growth of the plants, like ammonia is produced with the help of iron catalysts
as a fertilizer.
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. Types Of Refining Catalysts
are hydrocracking catalysts, hydrotreating catalysts, fluid catalytic cracking catalysts,
and catalytic reforming catalysts. A catalyst and a high partial pressure of
hydrogen gas are used in the hydrocracking process to convert complex
hydrocarbon molecules into simpler ones. By reacting with hydrogen in the
presence of a catalyst, hydrotreating is the process of eliminating undesirable
contaminants like Sulphur, nitrogen, and metals from oil fractions. A catalyst
and heat are used in the chemical process of fluid catalytic cracking to split
long-chain hydrocarbons into shorter-chain hydrocarbons. A catalytic reforming
catalyst is the modification of molecules to enhance the anti-knocking property
of gasoline.
In the
pharmaceutical industry, catalysts are essential for the manufacture of active
pharmaceutical ingredients, or APIs. It is more cost-effective in the long run
for the manufacturing of APIs because it produces less waste and can be
recycled. 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. The most important and in-demand
market component in the synthesis of pharmaceutical active ingredients is
catalyst.
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. The average gas production of the KSA has reached to 11 billion cubic feet/day in 2020 which is amounted to be 30% more than the production in 2010. Apart from these, the region holds 294,205,000 million cubic ft. of the gas reserve in their territory.
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. Saudi Arabia aims to produce
2.9 million tonnes/year of blue and green hydrogen by 2030 and 4 million tonnes/year
by 2035. Hydrogen is added to petroleum during hydro processing. Hydrotreating
and hydrocracking are two distinct but related processes that are included in
the term "hydro processing." By saturating the olefin and eliminating
the impurities in petroleum feedstocks, hydrotreating and hydrocracking
catalysts are used to improve gasoline quality.
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 based on type and material. Based on type, the market is
divided into heterogeneous
catalysts and homogeneous catalysts. Based on material the market
is segmented into Zeolites, Metals, Additives and Chemical Compounds.
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.
|
|
Pricing
and purchase options
|
Avail
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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)
|
Report Scope:
In this report, Saudi Arabia Catalyst
Market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
Saudi Arabia Catalyst Market, By Type:
- Homogeneous Catalysts
- Heterogeneous Catalyst
Saudi Arabia Catalyst Market, By Material:
- Zeolites
- Chemical Compounds
- Metals
- Additives
Saudi Arabia Catalyst Market, By Region:
- Eastern
- Northern & Central
- Southern
- Western
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Saudi Arabia Catalyst Market.
Available Customizations:
With
the given market data, TechSci Research offers customizations according to a
company’s specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).