Refinery catalysts: Specialty markets soar
Despite its appearance as a performance business, the bulk of the $$2.4-billion/year world-wide refinery-petrochemical catalyst market has been sliding toward commodity status for some time. The largest segment, fluid catalytic cracking all but completed the descent in 1995 as competition among the three dominant suppliers fell into a-full-scale price war. Hydrotreating, the largest of the specialty refining catalyst markets, has also started to display commodity characteristics, with suppliers tying the price of finished catalyst to raw materials prices and increasing upstream integration. Most of the other specialty segments, however, are growing 5%/year worldwide, with new technology coming into service. {open_quotes}Over the past two years refining margins in North America and Europe have been minimal,{close_quotes} says Clyde Payn, president of the Catalyst Group (Spring House, PA). {open_quotes}That, coupled with crude oil at $$16-$18/bbl, means refiners` assets are seriously overleveraged. In response we`ve seen and will continue to see cost reductions, downsizing, reengineering, assets sales, and consolidation in capacity and among companies.{close_quotes}
- OSTI ID:
- 508303
- Journal Information:
- Chemical Week, Journal Name: Chemical Week Journal Issue: 6 Vol. 158; ISSN CHWKA9; ISSN 0009-272X
- Country of Publication:
- United States
- Language:
- English
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