Albany, NY, March 18, 2016 (GLOBE NEWSWIRE) -- Worldwide Refinery, Re-refinery, and Bio Fuel Catalysts markets are poised to achieve significant growth with the shift in types of feedstock being processed.
Markets for the biofuel catalysts have the strongest growth throughout the forecast period, the environmental concerns worldwide will provide a thrust for these catalysts. The technology appears to be relatively mature. The feedstock is plentiful in some areas, and in these areas, refinement of biofuels makes economic sense.
Markets for re-refining catalysts will continue to grow in response to the maturing of the technology and the value gained from reusing motor oil. Crude oil refinery catalysts do not grow as rapidly as these other two segments because of the relatively mature market. Vendors seeks to customize the catalysts to give clients improved value related to the particular use pattern in a given locality.
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According to Susan Eustis, lead author of the study, “Use of the new refinery catalyst represents a key milestone in provision of value to the refineries. Customized catalysts have provided an opportunity to transform the refinery business while keeping investment in infrastructure intact. New materials and new designs are bringing that transformation forward. By furthering innovation, continued growth is assured.”
The worldwide market for refinery, refinery, and biofuel catalysts products is $4.6 billion anticipated to reach $8.5 billion by 2022. The complete report provides a comprehensive analysis. The reports cover markets for Refinery, Re-refinery, and Bio Fuel Catalysts.
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