HPC catalysts are catalysts used in the Hydroprocessing. Hydroprocessing is the name given to a series of chemical reactions that take place as part of oil refining, and include hydrogenation, hydrocracking and hydrotreating. Hydroprocessing is necessary to remove pollutants like sulfur, nitrogen and heavy metals from fuel oils, as well as in the process of catalytic hydrocracking, where large hydrocarbon molecules are cracked into shorter ones that can be used as fuel oils.
Hydro-processing Catalysts is a high technical barrier market with limited suppliers. Market concentration is high. The top 3 players Advanced Refining Technologies (ART), Albemarle and Criterion takes a combined global market share of 62.39% in 2016. Other suppliers like Haldor Topsoe, UOP (Honeywell) and Sinopec takes a smaller share in the market.
Globally, production of HPC is concentrated in USA, Europe, etc. while consumption of HPC is widely spread in global market. The market in emerging countries, like China, Southeast Asia and Middle East in projected to be new growing point, while market in Europe is more modest in terms of stable light oil demand in European countries.
HPC catalysts can be broadly categorized as Hydrotreating catalyst and Hydrocracking catalyst in terms of reaction mechanism. Hydrotreating is the major type of catalyst which takes market share of 75.85% in 2016. However, market of Hydrocracking is in fast development owning to the growing attention in heavy oil upgrading market.
The Global Hydro-processing Catalysts market size was 1799.13 million USD in 2016 and it will be 2134.87 million USD in 2023, with a Growth Rate of 2.48% from 2016 to 2023.
HPC is used in process of diesel hydrotreat, lube oils, naphtha, residue upgrading and others. Report data showed that 28.32% of the HPC market demand in Diesel Hydrotreat, 19.83% in lube oils, and 22.11% in naphtha in 2016. With the development of economy, these industries will need more HPC. So, HPC have a huge market potential in the future. Manufacturers engaged in the industry are trying to produce high quality HPC through improving manufacturing process. It is predicted that high quality HPC will become the mainstream product in the future.