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, 2019-2028.”
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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:
- By Technological Configuration
- By Type
- By End-User
- By Geography
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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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, 2028
- North America Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2028
- Europe Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2028
- Asia Pacific Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2028
- Middle East and Africa Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2028
- Latin America Fluid Catalyst Cracking Market Analysis, Insights and Forecast, 2028
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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