Overview and Scope
Hydrodesulfurization catalysts (HDS) refer to catalysts that are involved in carrying hydrodesulfurization process, a chemical process that organosulfur compounds are removed over heterogenous catalysts during the refinement of petroleum.
Sizing and Forecast
The hydrodesulfurization catalyst market size has grown strongly in recent years. It will grow from $2.75 billion in 2023 to $2.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to refinery upgrades and expansion, stringent environmental regulations, globalization of oil and gas industry, shift towards cleaner fuels, focus on energy security..
The hydrodesulfurization catalyst market size is expected to see strong growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increasing focus on renewable energy, transition to hydrogen economy, continued regulatory stringency, demand for sustainable catalysts, geopolitical shifts in energy markets, growing importance of biofuels.. Major trends in the forecast period include integration of nanotechnology, r&d for catalyst innovation, digitalization and process optimization, technological collaborations and partnerships, advancements in catalyst technologies..
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Segmentation & Regional Insights
The hydrodesulfurization catalys market covered in this report is segmented –
1) By Type: Cobalt-Molybdenum, Nickel-Based, Other Types
2) By Feedstock: Natural Gas, Naphtha, Heavy Oil, Diesel Oil, Kerosene, Other Feed Stocks
3) By End Use Industry: Petrochemicals, Natural Gas Processing
Asia-Pacific was the largest region in the hydrodesulfurization catalyst market in 2023. North America is expected to be the highest-growing region in the hydrodesulfurization catalyst market during the forecast period. The regions covered in the hydrodesulfurization catalys market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising demand for transportation fuels is expected to propel the growth of the hydrodesulfurization catalyst market going forward. Transportation fuels are the energy sources that are used to power motor vehicles that use internal combustion engines. Gasoline/Petrol, Diesel, LPG (Liquefied Petroleum Gas), Jet fuel, and Marine fuel are various examples of transportation fuels. Hydrodesulfurization catalysts are used in crude oil refineries to remove harmful organosulfur compounds to create cleaner end products that are used as a transportation fuel. For instance, according to the Energy Information Administration (EIA), a US-based federal agency for collecting, analyzing, and disseminating energy information, petroleum products accounted for about 90% of the total U.S. transportation sector energy use in the year 2021, which gasoline is the dominant transportation fuel followed by distillate fuels such as diesel fuel and jet fuel. Therefore, the rise in demand for transportation fuel is driving the growth of the hydrodesulfurization catalyst market.
Key Industry Players
Major companies operating in the hydrodesulfurization catalyst market are focusing on investments to sustain their position in the market. For instance, in June 2021, Raízen Argentina S.A.U., an Argentina-based company that operates in the oil and gas sector, made an investment of $715 million in Axens Group to supply technology licensing and equipment for a new modular fluid catalytic cracking (FCC) gasoline hydrodesulfurization unit. This investment increases the refinery’s processing capacity, upgrades existing facilities, and constructs new units such as a naphtha hydrotreater, a diesel hydrotreater, a hydrogen production plant, and water treatment plants. Axens Group is a France-based company that provides solutions for the conversion of oil and biomass to cleaner fuels.
The hydrodesulfurization catalys market report table of contents includes:
1. Executive Summary
2. Hydrodesulfurization Catalys Market Characteristics
3. Hydrodesulfurization Catalys Market Trends And Strategies
4. Hydrodesulfurization Catalys Market – Macro Economic Scenario
5. Global Hydrodesulfurization Catalys Market Size and Growth
….
31. Global Hydrodesulfurization Catalys Market Competitive Benchmarking
32. Global Hydrodesulfurization Catalys Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Hydrodesulfurization Catalys Market
34. Hydrodesulfurization Catalys Market Future Outlook and Potential Analysis
35. Appendix
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