Global Information, Inc. would like to present a new market research report, "Refinery Chemicals (US Market & Forecasts)" by Freedonia Group.
Research Analysts at The Freedonia Group expect U.S. demand for refinery chemicals to expand by 5% annually to reach approximately $7.1 billion in 2014. Refinery chemicals demand will be driven by the adoption of new, higher-value products that provide enhanced performance. Additionally, chemical demand in refinery applications will be supported by increasing levels of chemical treatments used by refiners to remove more impurities from their products. However, the overall output of refined products is expected to decline through the 2014 forecast period.
Merchant hydrogen segment to remain largest and fastest growing product in US refinery chemical market
Because the number of refiners looking to supplement their captive hydrogen production is steadily rising, the merchant hydrogen segment will exhibit robust, above average gains in the US refinery chemical industry. Hydrotreating currently represent the largest application for merchant hydrogen. The use of Hydrotreating will continue to be driven by environmental regulations restricting the sulfur content in fuels. Another growth opportunity for the merchant hydrogen market segment is hydrocracking.
Metal catalysts to maintain position as largest refinery catalyst type
Metal catalysts are projected to generate the fastest gains through 2014 in the catalyst segment of the US refinery chemical market. Meanwhile, zeolites are another catalyst type at the forefront of the refining industry. Catalysts account for a significant share of the total market. They are typically used in the petroleum refining industry to improve process productivity and energy efficiency.
Petroleum treatment, conversion and water treatment processes are among the various processes for refining crude oil.
Market value is expected to expand in water treatment processes. This projected trend is largely due to a shift from commodity water treatment chemicals toward more expensive environmentally acceptable alternatives.