Refinery Catalyst Market Overview By Size, Share, Trends, Growth Factors, Historical Analysis, Opportunities and Industry Segments Poised for Rapid Growth by 2028
The global Refinery Catalyst Market size is expected to gain momentum by reaching USD 5.84 Billion by 2028 while exhibiting a CAGR of 3.8% between 2021 to 2028. In its report titled "Refinery Catalyst Market, 2021-2028," Fortune Business Insights mentions that the market stood at USD 4.38 billion in 2020.

The increasing investment in research & development, technologies, and capacity expansion in the refinery sector is expected to drive the market during the forecast period. For instance, in September 2020, Clariant started constructing refining materials in China to produce CATOFIN, required in propane dehydrogenation. The company invested a major amount in China, which is likely to support the customer base in the local region.

By application, it is segmented into FCC, alkylation, hydrotreating, hydrocracking, catalytic reforming, and others. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

What does the Report Provide?

The market report for refinery catalysts provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. The different market segments and their regional analysis are discussed in the report. Further, it talks about the dominant strategies adopted by key players such as the introduction of new products, partnerships, and collaboration that will further contribute to the market growth. Lastly, it provides information on the impact of COVID-19 on market growth.

Driving Factor

Growing Demand for Octane Fuel to Promote the Market Growth

The rising demand for octane in the automotive industry is driving the Refinery Catalyst Market growth. Besides, the manufacturers are coming up with innovative and efficient technologies which require octane fuels to function. Moreover, using octane provides environmental, economic as well as engine benefits. For instance, an octane fuel ethanol has a blending octane rating of 114. This makes it one of the cleanest and affordable substitutes for fuel. Furthermore, the increasing demand for petroleum derivatives for various consumer needs is expected to fuel the market in the upcoming years.

Regional Insights

Asia Pacific to Remain at Forefront Baked by Increased Crude Oil Production

Asia Pacific is expected to remain at the forefront and hold the highest position market during the forecast period. This is attributable to increased crude oil production in China., According to China National Petroleum Corp.'s Economics & Technology Research Institute, China's refining industry capacity has tripled. Its crude oil processing capacity is anticipated to reach 1 billion tons a year, or 20 million barrels per day, by 2025. The market stood at USD 1.52 billion in 2020.

Europe is anticipated to showcase significant Refinery Catalyst Market share owing to favorable regulations imposed by European Union to promote development in oil recovery and promotion of biofuels. The government initiative in the region is to provide sustainable solutions for fuels such as ethanol, thus promoting the regional market.

Competitive Landscape

The market is consolidated by major companies striving to maintain their position by focusing on mergers and facility expansions. Additionally, other key players are adopting proactive strategies such as new partnerships, mergers, and collaborations to favor the market's growth in the upcoming years.

Information Source:

https://www.fortunebusinessins....ights.com/industry-r

Bio-based Chemicals Market to Witness Significant Growth in Coming Years - Exclusive Report by 2028
The global Bio-based chemicals market size amounted to USD 73.16 billion in 2020. The market is predicted to grow from USD 77.10 billion in 2021 to USD 144.63 billion in 2028 at a CAGR of 9.4% during the forecast period. The increasing consumption of Bio-based solutions to ensure environmental sustainability will propel the market forward during the projected timeframe, states Fortune Business Insights in its report titled “Bio-based Chemicals Market, 2021-2028."

Bio-based chemicals are derived from Bio-based sources such as sugar, corn, biodegradable waste, cellulosic feedstock, or biomass. The demand for these chemicals is rising across several industries including food & beverage, pharmaceutical, automotive, textiles, and others. This rise in demand is due to depleting petroleum resources and growing unavailability of conventional fossil fuel based products. The growing need for sustainable solutions across industries will foster the market growth in the forthcoming years.

Market Segments:

Based on product category, the market is segmented into adhesives, platform chemicals, paints, coatings, inks & dyes, polymers for plastics, surfactants, adhesives, cosmetics & personal care products, man made fibers, and others.

In terms of application, the market is divided into agricultural, industrial, pharmaceutical, and others.

Geographically, the market broken down into North America, Asia Pacific, Europe, and the Rest of the World.

Drivers & Restraints:

Depleting Fossil Fuel Resources to Provide Momentum to Market

Bio-based chemicals market growth is driven by the depletion of fossil fuel resources and rising greenhouse gas emissions. These factors have led to increased adoption of biomaterials. Ongoing initiatives to limit harmful emissions is supporting the adoption of Bio-based products across industries. The growing concept of green chemistry will further boost this adoption rate. Supportive government initiatives to limit the usage of harmful chemicals will work in favor of the market growth.

However, the market development could be hampered by the high cost of the product.

Regional Insights:

Europe registered revenue gains worth USD 35.59 billion in 2020 and will dominate the Bio-based chemicals market share over the assessment period. Leading position of the region can be contributed to the growing initiatives by the European Union to promote green and circular economy. Active steps to increase reliance on biomaterials will strengthen the regional outlook.

The market in Asia Pacific will witness robust growth led by the widespread shift towards Bio-based solutions and tightening environmental regulations. Meanwhile, North America will experience substantial growth led by growing R&D in the field of biomaterials.

Notable Industry Development:

December 2020: DuPont Nutrition & Biosciences and Kemira formed a strategic alliance for the formulation and commercialziation of the enzymatic polymerization-based polysaccharide platform technology by DuPont for various applications.

Browse Summary:

https://www.fortunebusinessins....ights.com/bio-based-

Benzene and its Derivatives MarketMovements by Trend Analysis, Growth Status, Revenue Expectation to 2028
The global benzene and its derivatives market analysis size was USD 25.4 billion in 2020. The market is projected to grow from USD 34.6 billion in 2021 to USD 53.5 billion in 2028 at a CAGR of 6.4% during the 2021-2028 period.

This information is provided by Fortune Business Insights, in its report, titled, “Benzene and its Derivatives Market, 2021-2028.”

According to our expert analysts, the increasing chemical industry and surging demand for polymers is expected to drive the benzene and its derivatives market growth.

Report Coverage:

We have deployed an elite research method that encompasses statistics triangulation grounded on the renowned bottom-up and top-down strategies. Our analysts have conducted a methodical prime research to validate the estimated size of the benzene and its derivatives market. The data utilized to signify the shares for multiple segments at the national, domestic, as well as international stages is gathered from extensive interviews directed with several investors. Our researchers have also derived data from funded records, industry registers, SEC documents, and many such parallel modes.

Segmentation:

On the basis of derivatives, the market is classified into ethylbenzene, cumene, chlorobenzene, alkyl benzene, and others.

In terms of application, the market is categorized into industrial chemical, oil & gas, rubbers & plastics, pharmaceutical, and others. The industrial chemical is likely to be responsible for a majority share during the forecast period.

Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Drivers and Restraints:

Surging Demand for Styrene Polymers from Several End-Use Industries to Spur Market

The maximum amount of styrene manufactured across the globe is utilized to produce polystyrene, which is a polymerized form of styrene that is available in foam, solid, as well as film forms. Polystyrene is extensively applied in the packing industry owing to its admirable flexibility, lightweight, elasticity, as well as moisture resistance. In the last decade, developing nations such as India and China have seen substantial growth in the e-commerce sector.

Regional Insights:

Asia Pacific is responsible for a major benzene and its derivatives market share in terms of domestic usage and trade of benzene and its derivatives.

North America is anticipated to register a noticeable growth rate owing to growing demand from the escalating petrochemical sector.

Europe is expected to extend sturdily as a consequence of tight guidelines governing the usage of benzene and its derivatives in consumer goods. Demand for styrene and phenol is growing owing to the increase in demand from the pharmaceutical, automotive, as well as plastics industries.

Competitive Landscape:

New Procurements by Vital Players to Spur Market Growth

Important players in the market are incessantly scheduling approaches to expand their business effectively and to preserve their principal position in the market. One such stratagem is initiating products for better reach among end-users.

With each day passed, several principal players are inaugurating partnerships with companies from a different as well as same domain in order to amplify their businesses and develop technologically groundbreaking products for their customers.

Browse Summary:

https://www.fortunebusinessins....ights.com/industry-r

Bio-based Chemicals Market Booming Worldwide | Know The Latest Trends, Regional Analysis, Business Scope, and Top Key Players
The global Bio-based chemicals market size amounted to USD 73.16 billion in 2020. The market is predicted to grow from USD 77.10 billion in 2021 to USD 144.63 billion in 2028 at a CAGR of 9.4% during the forecast period. The increasing consumption of Bio-based solutions to ensure environmental sustainability will propel the market forward during the projected timeframe, states Fortune Business Insights in its report titled “Bio-based Chemicals Market, 2021-2028."

Bio-based chemicals are derived from Bio-based sources such as sugar, corn, biodegradable waste, cellulosic feedstock, or biomass. The demand for these chemicals is rising across several industries including food & beverage, pharmaceutical, automotive, textiles, and others. This rise in demand is due to depleting petroleum resources and growing unavailability of conventional fossil fuel based products. The growing need for sustainable solutions across industries will foster the market growth in the forthcoming years.

COVID-19 Impact:

Supply Chain Hurdles amid Pandemic to Affect Market Dynamics

The sudden outbreak and rapid spread of the COVID-19 pandemic led to various disruptions, including supply chain problems. Strict containment measures introduced by the respective governments constrained the movement of raw materials and affected industrial operations. Nationwide lockdown restrictions led to the stockpiling of long-lasting foods and basic staples such as wheat, rice, sugar, and other products. The rising agricultural consumption resulted in the shortage of raw materials required for chemicals production. These factors caused a slowdown in Bio-based chemicals market growth during the pandemic period.

Market Segments:

Based on product category, the market is segmented into adhesives, platform chemicals, paints, coatings, inks & dyes, polymers for plastics, surfactants, adhesives, cosmetics & personal care products, man made fibers, and others.

In terms of application, the market is divided into agricultural, industrial, pharmaceutical, and others.

Geographically, the market broken down into North America, Asia Pacific, Europe, and the Rest of the World.

Drivers & Restraints:

Depleting Fossil Fuel Resources to Provide Momentum to Market

Bio-based chemicals market growth is driven by the depletion of fossil fuel resources and rising greenhouse gas emissions. These factors have led to increased adoption of biomaterials. Ongoing initiatives to limit harmful emissions is supporting the adoption of Bio-based products across industries. The growing concept of green chemistry will further boost this adoption rate. Supportive government initiatives to limit the usage of harmful chemicals will work in favor of the market growth.

However, the market development could be hampered by the high cost of the product.

Regional Insights:

Europe registered revenue gains worth USD 35.59 billion in 2020 and will dominate the Bio-based chemicals market share over the assessment period. Leading position of the region can be contributed to the growing initiatives by the European Union to promote green and circular economy. Active steps to increase reliance on biomaterials will strengthen the regional outlook.

The market in Asia Pacific will witness robust growth led by the widespread shift towards Bio-based solutions and tightening environmental regulations. Meanwhile, North America will experience substantial growth led by growing R&D in the field of biomaterials.

Notable Industry Development:

December 2020: DuPont Nutrition & Biosciences and Kemira formed a strategic alliance for the formulation and commercialziation of the enzymatic polymerization-based polysaccharide platform technology by DuPont for various applications.

Browse Summary:

https://www.fortunebusinessins....ights.com/bio-based-

Phosphorus and Derivatives Market Size, Global, Growth, Segmentation, Development, Analysis and Forecast by 2028
The global phosphorus and derivatives market size is expected to grow from USD 65.13 billion in 2021 to reach USD 85.01 billion in 2028, exhibiting a CAGR of 3.9% between 2021 and 2028. The growing knowledge about the benefits of lithium iron phosphate (LFP) batteries in EVs will spur demand for LFP batteries, therefore aiding the market growth, states Fortune Business Insights, in a report, titled “Phosphorus and Derivatives Market, 2021-2028.” The market size stood at USD 62.78 billion in 2020.

The COVID-19 epidemic has caused the fertilizer business to languish. Crop producers were impacted by logistical issues, production halts or reductions, and workforce shortages, which restricted their access to fertilizers. As a result, fertilizer prices fell by 8.5 percent in May 2020 due to decreased ingredient costs and sluggish seasonal demand. Besides, policymakers in a number of other countries have issued precautionary notices to safeguard the circulation and transit of agricultural commodities in the presence of the pandemic.


Driving Factor:

Heavy Investment in Agricultural Sector to Propel Market

The phosphorus and derivatives market is expected to flourish due to rising fertilizer demand and increased investment by various agricultural sectors. Agriculture will benefit from a growing population and increased food demand. Phosphorus is an important mineral in the bodies of animals and in their diets, where ammonium phosphate is employed as a feed ingredient. Because of its acidic properties, mono-ammonium phosphate (MAP) fertilizers are becoming more popular in animal feed, resulting in increased animal growth and metabolism. Phosphorus and derivatives are essential elements that help fertilizers, food, and detergents maintain their strength and purity. In agricultural cultivation, P derivatives are commonly employed as fertilizers and used to produce water cleaning agents, food items, and detergents. Additionally, the rising agricultural activities will back the development of the phosphorus and derivatives market share.

Inauguration of New Plant by OCP Group to Encourage Growth

Morocco's phosphate behemoth, the OCP Group, is working closely with Budenheim, Germany, and Prayon, Belgium, to establish a new purified phosphoric acid production plant. The major development will be inaugurated by OCP's subsidiary Euro Maroc Phosphore (EMAPHOS), a holding company with Moroccan and European partners based in Casablanca, a harbor on the Atlantic Ocean. The announcement of the new plant by OCP will have an excellent impact on this market. Throughout the fourth quarter of 2022, the proposed project will double EMAPHOS' annual production capacity, from 140,000 total phosphorus (TP) 205 per year to 280,000 TP 205 per year. The project is now being evaluated in-depth after finishing the fundamental engineering studies in March 2020. The work is scheduled to begin in the first quarter of 2021. The infrastructure will support the companies' statutory reserves retained.

Market Segments:

Based on type, the market is segmented into ammonium phosphate, phosphoric acid, industrial phosphate, phosphorus pentoxide, and others.

Based on application, the market is classified into fertilizers, detergents, food, flame retardant material, and others. Fertilizers are expected to hold the largest share during the forecast period due to the high utilization of phosphorous-based fertilizers such as MAP, DAP, NPKs, and Single Super Phosphate (SSP).

Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Competitive Landscape:

Launch of Innovative Products to Increase Competition

Various researchers and prominent companies are doing R&D on converting red phosphorus into black phosphorus. For instance, in November 2020, the Advanced Materials Laboratory and the Advanced Nanomaterials and Manufacturing Laboratory researchers collaborated with Iris Light Technologies to research mechano-chemically synthesized black phosphorus. This agreement will turn commercial red phosphorous into optoelectronic quality black phosphorus at a low cost using high-energy ball milling. As a result, adopting a ball milling conversion process will lower the cost of producing black phosphorus.

Key Development:

November 2020: AgroLiquid introduced a liquid phosphorus product, springuP, to its crop nutrition portfolio. This product is a voluntarily available product that encourages growers to get their crops off to a convincing start.

Information Source-

https://www.fortunebusinessins....ights.com/phosphorus