LONDON–(BUSINESS WIRE)–SpendEdge has been monitoring the global refinery catalyst market and
the market is poised to experience spend growth of more than USD 1
billion between 2019-2024 at a CAGR of over 3% during the forecast
period. Request
Free Sample Pages.
Read the 129-page research report with TOC and LOE on “The Global
Refinery Catalyst Market – Procurement Intelligence Report, Pricing
Outlook in Geographies that include APAC, North America, South America,
and MEA, and insights into best practices to optimize procurement spend.”
Chemical-based refinery catalysts will account for the maximum
consumption owing to the steady popularity of organometallic compounds
used in manufacturing polyethylene and polypropylene. Zeolite, a
refinery catalyst type, is an extensively utilized material that is
essential in refining and petrochemical applications.
To reduce dependence on crude oil imports, buyers from the refineries in
North America will exploit the abundant shale oil reserves available
domestically. They will capitalize on the advances made in drilling
technologies to reduce the cost of extraction and increase their
drilling efficiency. This will motivate them to expand their production
capacities which will lead to an increase in demand for refinery
catalysts in the region.
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Insights into the market price trends
-
Usage of certain refinery catalysts requires the addition of rare
earth elements, prices of which are high and their supply is limited.
This will make significant additions to suppliers’ OPEX. -
Refinery catalyst suppliers will experience a substantial increase in
their labor-related expenses owing to the worldwide increase in
minimum wages. This will have an inflationary impact on the refinery
catalyst price.
What are the strategies to adopt to optimize procurement spend in
this market?
Adopt a regional sourcing model
Buyers are advised to use a regional sourcing model that can benefit
them with reduced delivery timelines and transportation costs owing to
their proximity to suppliers’ facilities. This will assure buyers of
suppliers’ compliance with regional regulations as suppliers will be
more familiar with regional fuel standards and regulations such as those
associated with permissible sulfur content.
Leverage suppliers’ expertise for the management of spent catalysts
Buyers should engage with suppliers who have the necessary expertise
regarding the management of spent catalysts. It is prudent of buyers to
partner with suppliers who have the necessary expertise in the
regeneration of spent catalysts, as this can maximize ROI on their
procurement spend. Also, this will reduce the number of used catalysts
generated, which will minimize their disposal costs.
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the free sample of this report on the refinery
catalyst market.
Some of the key topics covered in this report are:
- Refinery catalyst market spend segmentation by region
- Total cost of ownership analysis in the refinery catalyst market
- Regional spend opportunity for refinery catalyst suppliers
- Refinery catalyst suppliers cost structure
- Refinery catalyst pricing models analysis
- Refinery catalyst procurement best practices
- Category management objectives
- Cost saving opportunities in the refinery catalyst market
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