Global Fluid Catalytic Cracking (FCC) Market, By Type (Lanthanum Oxide, Zeolite), Category (LVR-60, ORBIT-3600, CHV-1, RAG-7), Technical Configuration (Side-By-Side Type, Stacked Type), Application (Chemical, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Globalization and expanding international trade practices have spawned a slew of industries that use a rapidly depleting resource. As global fuel consumption rises to meet rising demand from the transportation and industrial sectors, unit demand for fluid catalytic cracking (FCC) is expected to rise. The exponential economic growth of countries such as China, India, Cambodia, Laos, and Mongolia, among others, has raised concerns about the depletion of petroleum reserves.
Global Fluid Catalytic Cracking (FCC) Market was valued at USD 6.51 billion in 2021 and is expected to reach USD 8.48 billion by 2029, registering a CAGR of 3.35% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
By Type (Lanthanum Oxide, Zeolite), Category (LVR-60, ORBIT-3600, CHV-1, RAG-7), Technical Configuration (Side-By-Side Type, Stacked Type), Application (Chemical, Others)
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
Market Players Covered
Albemarle Corporation (U.S.), W.R. Grace Company (U.S.), BASF SE. (Germany), Johnson Matthey (U.K.), Arkema (France), JGC CORPORATION (Japan), Flour Corporation (U.S.), Shell (U.K.), Honeywell International Inc. (U.S.), Exxon Mobil Corporation. (U.S.), CLG (U.S.), McDermott (U.S.), and Axens (France), Kuwait Catalyst Company (Kuwait), N.E. CHEMCAT (Japan), Porocel Corporation (U.S.), Yueyang Sciensun Chemical Co., Ltd. (China), DuPont (U.S.) and Magma Ceramics & Catalysts (U.K.)
Fluid catalytic cracking (FCC) is a secondary unit operation used to produce added gasoline in the refining course. Fluid catalytic cracking (FCC) is a chemical process that promotes a catalyst and heat to break long-chain hydrocarbons into smaller-chain hydrocarbons.
Fluid Catalytic Cracking (FCC) Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Augmented Demand of Fluid Catalytic Cracking (FCC)
The growing demand for profitable products such as petroleum, olefinic gases and gasoline products to meet expanding power and fuel needs is a vital factor escalating the market growth, also increasing fuel consumption to soaring demand from industrial and transportation sectors are estimated to carve a way for the growth of the market. Catalysts are used in this chemical process to convert heavy distillates into lighter ones, yielding gasoline and diesel, among other products. These factors are expected to complement the growth of the fluid catalytic cracking industry.
Furthermore, the factors such as the increasing fuel standards, improved operational efficiency, selectivity, and a focus on "green" resources are all expected to propel the growth rate of fluid catalytic cracking (FCC) market. Additionally, globalization and expanding international trade practices have spawned a slew of industries that use a rapidly depleting resource. Unit demand is likely to rise as global fuel consumption rises to meet rising demand from the transportation and industrial sectors.
- Investments and Technological Upgradation
Furthermore, rising government investments in petroleum refining movements to meet rising demand, extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the technological upgradation and enhancement of existing equipment will further expand the future growth of the fluid catalytic cracking (FCC) market.
- High Costs and Feedstock Composition
The high investment, as well as operational costs associated with the fluid catalytic cracking (FCC), are projected to create hindrances for the growth of the fluid catalytic cracking (FCC) market. Moreover, another major concern for refinery operators is feedstock composition, which includes issues with heat and configuration balance and contaminants. This factor will also hamper the market growth.
- Requirement of Careful Monitoring
The fluid catalytic cracking (FCC) requires the maintaining the temperature inside the reactor must also be carefully monitored to avoid off-spec output or catalyst coking. This factor will pose as a challenge the fluid catalytic cracking (FCC) market growth rate.
This fluid catalytic cracking (FCC) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the fluid catalytic cracking (FCC) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Fluid Catalytic Cracking (FCC) Market Scope
The fluid catalytic cracking (FCC) market is segmented on the basis of type, category, technical configuration and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Lanthanum Oxide
- Side-By-Side Type
- Stacked Type
Fluid Catalytic Cracking (FCC) Market Regional Analysis/Insights
The fluid catalytic cracking (FCC) market is analyzed and market size insights and trends are provided by country, type, category, technical configuration and application as referenced above.
The countries covered in the fluid catalytic cracking (FCC) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high investment as well as increase in refining activity within the region. China is expected to dominate the Asia Pacific fluid catalytic cracking catalyst market during the forecast period, followed by India and Japan.
On the other hand, North America is estimated to show lucrative growth over the forecast period of 2022-2029, due to the high consumption of petroleum-based products and wide availability within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Fluid Catalytic Cracking (FCC) Market Share Analysis
The fluid catalytic cracking (FCC) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to fluid catalytic cracking (FCC) market.
Some of the major players operating in the fluid catalytic cracking (FCC) market are
- Albemarle Corporation (U.S.)
- W.R. Grace Company (U.S.)
- BASF SE. (Germany)
- Johnson Matthey (U.K.)
- Arkema (France)
- JGC CORPORATION (Japan)
- Flour Corporation (U.S.)
- Shell (U.K.)
- Honeywell International Inc. (U.S.)
- Exxon Mobil Corporation. (U.S.)
- CLG (U.S.)
- McDermott (U.S.),
- Axens (France)
- Kuwait Catalyst Company (Kuwait)
- N.E. CHEMCAT (Japan)
- Porocel Corporation (U.S.)
- Yueyang Sciensun Chemical Co., Ltd. (China)
- DuPont (U.S.)
- Magma Ceramics & Catalysts (U.K.)