The increasing demand for hydrocarbons is further propelling the need to adopt a maximum production process. Fluid catalyst cracking or FCC process helps to convert heavy fractions of petroleum into light products of hydrocarbon inside a reactor. FCC also helps to maximize the overall efficiency of production in the refinery. The aforementioned factor is likely to help increase the global fluid catalyst cracking market size, predicts Fortune Business Insights™ in their recent study. The study is titled, “Fluid Catalyst Cracking Market Size, Share & Industry Analysis, By Technological Configuration (Side-by-Side Type, Stacked Type), By Type (LVR-60, ORBIT-3600, CHV-1, RAG-7), By End-User (Refinery, Environmental, Others) and Regional Forecast, 2019-2026.”
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Important Players of the Fluid Catalyst Cracking Market Include:
- R. Grace & Co.
- Chevron Lummus Global (CLG)
- McDermott International Inc.
- Johnson Matthey
- Haldor Topsoe A/S
- Honeywell, Axens
- Albemarle Corporation
Details of the Study:
- A 360-degree overview of the fluid catalyst cracking market
- Prime factors boosting, repelling, testing, and providing opportunities to the market
- List of Segments, their market value, and estimated CAGRs
- Key industry insights and interesting insights into the market
- List of fluid catalyst cracking market manufacturers and major strategies adopted by them as per competitive landscape
- Current fluid catalyst cracking market trends
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Increasing Demand for Oil and Gas to Boost Market
The rise in investments made in refineries for oil and gas is a major factor propelling the fluid catalyst cracking market growth. Moreover, the high demand for hydrocarbons is also expected to help increase the overall fluid catalyst cracking market size. Besides this, the enormous rise in both international and domestic transportation has further propelled the need for demand for hydrocarbon. Similarly, there was robust investment by government and private bodies for meeting the rising demand for gas and oil and this, as per analysts at Fortune Business Insights™, is further anticipated to help attract high fluid catalyst cracking market revenue in the forecast period.
Key Segmental Overview:
1. By Technological Configuration
- Side-by-Side Type
- Stacked Type
2. By Type
3. By End User
4. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
July 2019 – A contract for technology training, technical services, and a license were awarded to McDermott International for fluid catalytic cracking (FCC) unit with the help of INDMAX technology
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North America to Dominate Market Owing to Increasing Oil and Gas Export Activities
From a geographical perspective, the global fluid catalyst cracking market is widespread into the Middle East and Africa, Latin America, Europe, Asia Pacific, and North America. Among these, North America is holding a dominant fluid catalyst cracking market share on account of rise in export activities, especially for oil and gas to Canada and other nations. Besides this, the expansion of refineries and surge in investment for automotive industries in Europe is anticipated to help attract high fluid catalyst cracking market revenue for the region in the forecast period.
On the other hand, Asia Pacific is likely to witness significant fluid catalyst cracking market growth owing to the huge investments made for the expansion of refineries in China. This is done to meet the increasing demand for oil and gas in the region. India has one of the largest refineries with the capability to process about 580,000 BPD of crude. Furthermore, private and government entities are emphasizing on the multiplication of refinery infrastructure in the country. This serves as a major booster for the overall market in the long run.
Merger and Acquisition Strategies Adopted by Players Will Help Boost Market
Players operating in the fluid catalyst cracking market are engaging in contracts, company collaborations, mergers and acquisitions, and other strategies to gain a competitive edge in the market. They are also focusing on the expansion of petrochemical industries which will directly promote the market for fluid catalyst cracking. Besides this, players are also trying to improve the performance of FCC catalysts to further augment its growth in the forecast duration.
Key Market Driver – Growing investment in refineries and massive demand of hydrocarbons
Key Market Restraint – Volatile price of oil and gas
Major Industry Developments of Fluid Catalyst Cracking Market:
November 2018 – Valor Fluid Catalytic cracking catalyst technology was launched by BASF for improving the performance of FCC catalysts that deals with heavy residuum oil feedstock performance.
April 2019 – An agreement was signed between TechnipFMC and W.R. Grace & Co. for developing enhanced catalyst and process technology for the former company’s Deep Catalytic Cracking.
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Major Table of Content For Fluid Catalyst Cracking Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2026
- North America Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2026
- Europe Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2026
- Asia Pacific Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2026
- Middle East and Africa Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2026
- Latin America Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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