Fluid Catalytic Cracking Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type, By Technical Configuration, By End User, By Region & Competition, 2021-2031F

The Global Fluid Catalytic Cracking Market is projected to expand from a valuation of USD 7.67 Billion in 2025 to USD 9.33 Billion by 2031, registering a CAGR of 3.32%. Fluid Catalytic Cracking (FCC) serves as a vital secondary refining process, converting heavy hydrocarbon fractions like vacuum gas oil into high-value lighter outputs, including gasoline, olefinic gases, and other distillates. Market growth is primarily fueled by the enduring global appetite for high-octane transportation fuels and the strategic alignment of refineries with petrochemical operations to optimize propylene production. Supporting this trend, the Organization of the Petroleum Exporting Countries reported that global refining capacity grew by 1.04 million barrels per day in 2024, reaching a total of 103.80 million barrels per day, a statistic that highlights the ongoing infrastructure investments requiring efficient catalytic cracking systems.

However, the market faces significant headwinds from the accelerating global energy shift toward electric vehicles and renewable energy sources, which jeopardize the long-term demand for gasoline, the main product of FCC units. This fundamental transformation in automotive propulsion, coupled with rigorous environmental mandates concerning refinery carbon emissions and sulfur levels, establishes a challenging operational landscape. These factors create uncertainty that could restrict future capital investment in traditional fossil fuel conversion technologies, as the industry grapples with the balance between current energy needs and sustainability goals.

Market Driver

The persistent global requirement for high-octane gasoline and transportation fuels serves as the main engine for the Fluid Catalytic Cracking (FCC) market, given that these units are essential for gasoline production in modern refineries. Although the energy transition is gaining momentum, the total consumption of transportation fuels continues to grow in developing nations, necessitating high utilization rates of cracking units to transform heavy vacuum gas oils into valuable lighter fuels. This dependence ensures that FCC operations remain a top priority for downstream players focused on regional energy security. Reinforcing this demand, the International Energy Agency's 'Oil Market Report' from November 2024 indicates that global oil demand is set to increase by 920,000 barrels per day in 2024, highlighting the ongoing need for effective fossil-fuel processing.

In parallel, the surge in petrochemical feedstock production, especially propylene, is fundamentally altering FCC investment and operational strategies. Refiners are increasingly merging with petrochemical facilities, adjusting FCC operations toward high-severity cracking to boost propylene yields for plastics manufacturing rather than concentrating solely on fuels. This strategic shift is particularly prominent in Asia, where new infrastructure is being built to enhance chemical output. As reported by China Daily in December 2024 within the 'Global energy giants ramp up China presence' article, China is projected to account for nearly 60 percent of global propylene capacity additions between 2024 and 2030. Furthermore, the Economic Times noted that in 2024, India's total refining capacity hit 256.8 million metric tonnes per annum, demonstrating the immense capital investment underpinning this market evolution.

Market Challenge

The rapid global shift toward electric vehicles represents a major structural barrier to the expansion of the Global Fluid Catalytic Cracking Market. Because Fluid Catalytic Cracking units are designed primarily to optimize the production of high-octane gasoline from heavy crude fractions, the electrification of the transport sector directly challenges the economic rationale for these assets. As the automotive industry moves away from internal combustion engines, the long-term demand for gasoline is expected to permanently decrease, generating significant uncertainty regarding the return on investment for new or expanded cracking facilities. This reducing reliance on fossil-fuel-based transport lessens the operational need for traditional FCC units, making refiners reluctant to invest capital in conversion technologies centered on fossil fuels.

Substantiating this trend, the 'International Energy Agency' reported in '2024' that oil demand in advanced economies declined by 0.1 percent, a contraction largely attributed to lower road transport fuel consumption caused by stricter efficiency mandates and the growing market share of electric vehicles. This confirmed reduction in the available market for refined distillates indicates a lower demand for secondary conversion processes. As a result, the tangible threat of stranded assets discourages stakeholders from authorizing substantial capital expenditures for fluid catalytic cracking infrastructure, thereby hindering the overall growth of the market.

Market Trends

The integration of bio-feedstocks and renewable co-processing is swiftly reshaping the Global Fluid Catalytic Cracking Market as refiners retrofit existing infrastructure to reduce carbon intensity. Instead of building standalone biofuel plants, operators are increasingly adapting fluid catalytic cracking units to co-process lipid-based materials, such as vegetable oils and pyrolysis oil, alongside traditional vacuum gas oil. This strategy enables refineries to manufacture renewable diesel and sustainable aviation fuel components while utilizing their current assets, effectively prolonging the operational relevance of these units during the energy transition. Highlighting this trend, Rigzone reported in a March 2025 article titled 'Petrobras Achieves Successful Feedstock Co-Processing Test at Riograndense' that Petrobras has earmarked $1.5 billion for its BioRefining Program in its 2025-2029 Strategic Plan, specifically focusing on investments in co-processing technologies to upgrade renewable streams within existing facilities.

Concurrently, the market is experiencing a significant structural evolution toward crude-to-chemicals (CTC) refinery configurations, which fundamentally changes the application of catalytic cracking technologies. Unlike conventional refining that prioritizes transportation fuels, CTC designs employ advanced catalytic processes, such as Thermal Crude-to-Chemicals (TC2C), to transform whole crude directly into petrochemical feedstocks, largely bypassing traditional distillate production. This trend signifies a technological advancement designed to prioritize chemical value over fuel volume, protecting refineries from the impact of falling gasoline demand. As per The Korea Herald's October 2025 article, 'S-Oil's Shaheen project nears finish, fueling petrochemical ambitions', the $6.47 billion Shaheen project in Ulsan is 85 percent complete and utilizes world-first TC2C technology to substantially boost the facility's chemical output relative to fuel production.

Key Market Players

• Albemarle Corporation
• W.R. Grace & Co
• BASF SE
• Johnson Matthey Plc
• Arkema SA
• JGC CORPORATION
• Flour Corporation
• Shell Plc
• Honeywell International Inc.
• Exxon Mobil Corporation

Report Scope

In this report, the Global Fluid Catalytic Cracking Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Fluid Catalytic Cracking Market, By Product Type

• Lanthanum Oxide
• Zeolite

Fluid Catalytic Cracking Market, By Technical Configuration

• Side-

Fluid Catalytic Cracking Market, By End User

• Refinery
• Environmental
• Others

Fluid Catalytic Cracking Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Fluid Catalytic Cracking Market.

Available Customizations:

Global Fluid Catalytic Cracking Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).