Home > Chemicals & Materials > Specialty Chemicals > Custom Synthesis > Refinery Process Chemicals Market

Refinery Process Chemicals Market Trends

Report ID: GMI9257
Published Date: Apr 2024
Report Format: PDF

Download Free Sample

Refinery Process Chemicals Market Trends

The refinery process chemicals industry is witnessing a notable trend towards sustainability and efficiency. With increasing environmental regulations and growing awareness of climate change, refineries are investing in eco-friendly additives to reduce emissions and improve energy efficiency. Moreover, there's a rising demand for specialized chemicals to address specific refining challenges such as sulfur reduction and corrosion prevention. Additionally, the market is seeing advancements in digital technologies like predictive analytics and IoT for real-time monitoring and optimization of chemical usage. These trends reflect the industry's commitment to enhancing operational performance while minimizing environmental impact, driving continued growth in the market.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for refinery process chemicals was USD 4.8 billion in 2023 and is projected to depict over 4.4% CAGR from 2024 to 2032, due to the increasing demand for high-performance additives to improve refining efficiency and reduce emissions.

The catalyst segment in the refinery process chemicals industry recorded USD 1.5 billion in revenue in 2023 owing to the increasing adoption to optimize various processes like hydrocracking, catalytic cracking, and hydrotreating.

Asia Pacific industry size was USD 1.6 billion in 2023 and is predicted to grow at significant rate between 2024 and 2032, on account of the growing demand for eco-friendly additives and catalysts to minimize environmental impacts.

BASF SE, Berry Chemicals, Buckman, Cestoil, Chemiphase, Chevron Phillips Chemical Company LLC, Clariant AG, Dow, Exxon Mobil, and Lubrizol are some of the key refinery process chemicals companies worldwide.