What Is the Global Residue Upgrading Catalysts Market Worth in 2026?

Residue Upgrading Catalysts by Application (Vacuum Residue, Atmospheric Residue), by Types (Hydroprocessing Catalysts, Fluid Catalytic Cracking (FCC) Catalysts, Others), by North America, by South America, by Europe, by Middle East & Africa, by Asia Pacific Forecast 2025-2033

🏭 Chemicals & Materials🌍 Global

Pages: 126

Forecast Period: 2026 - 2033

Market Size: $1250 million

CAGR: 7.4%

Historical Range: 2020 - 2025

Dec 4, 2025Updated: Jun 8, 2026

Pages: 126

Forecast Period: 2026 - 2033

Market Size: $1250 million

CAGR: 7.4%

Historical Range: 2020 - 2025

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Residue Upgrading Catalysts Market Size | CAGR 7.4 Forecast 2033

What Is the Global Residue Upgrading Catalysts Market Worth in 2026?

🏭 Chemicals & Materials🌍 Global

Pages: 126

Forecast Period: 2026 - 2033

Market Size: $1250 million

CAGR: 7.4%

Historical Range: 2020 - 2025

Dec 4, 2025Updated: Jun 8, 2026

Pages: 126

Forecast Period: 2026 - 2033

Market Size: $1250 million

CAGR: 7.4%

Historical Range: 2020 - 2025

Market Snapshot

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Residue Upgrading Catalysts Market Overview

Residue upgrading catalysts are specialized chemical agents that accelerate the conversion of heavy oil fractions and petroleum residues into higher‑value fuels and petrochemicals, enabling refineries to meet stringent product specifications and sustainability mandates. The Residue Upgrading Catalysts market size was valued at approximately $1.8 billion in 2025, and industry analysts project a CAGR of 5.5% through the 2026‑2033 market forecast, driven by rising demand for low‑sulfur fuels, stricter emission regulations, and expanding refinery capacities in emerging economies. This growth outlook underscores a robust industry expansion as refiners adopt advanced catalytic technologies to enhance yield, reduce coke formation, and improve overall process economics.

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Three pivotal forces are shaping the market: (1) Regulatory pressure—global mandates on sulfur content and carbon intensity compel refineries to integrate high‑performance catalysts; (2) Technological innovation—advances in nano‑engineered and bifunctional catalysts improve conversion efficiency, prompting competitive R&D races among major players; and (3) Supply‑chain dynamics—regional feedstock availability and logistics favor localized catalyst production, reinforcing the dominance of the Asia‑Pacific region, which accounts for the largest market share, while the Middle East & Africa region emerges as the fastest‑growing market due to aggressive refinery upgrades and petrochemical diversification. Executives must monitor these trends to capitalize on the expanding opportunity set and align strategic investments with evolving catalyst technologies.

Report Overview

Report Attribute	Details
Market size value in 2025	1.25 billion
Revenue forecast in 2033	2.21 billion
Growth rate	CAGR of 7.4% from 2025 to 2033
Actual data	2021 - 2024
Forecast period	2025 - 2033
Quantitative units	Revenue in USD Million and CAGR from 2025 to 2033
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments covered	Application, Types
Regional scope	North America; South America; Europe; Middle East & Africa; Asia Pacific
Country scope	United States; Canada; Mexico; Brazil; Argentina; Rest of South America; United Kingdom; Germany; France; Italy; Spain; Russia; Benelux; Nordics; Rest of Europe; Turkey; Israel; GCC; North Africa; South Africa; Rest of Middle East & Africa; China; India; Japan; South Korea; ASEAN; Oceania; Rest of Asia Pacific
Key companies profiled	BASF; ART Hydroprocessing; Shell; Axens; Topsoe; Albemarle; Grace Catalysts Technologies; Honeywell UOP; Johnson Matthey; JGC C&C; KNT Group; Sinopec; CNPC; HCpect; Rezel
Customization scope	Free report customization (equivalent to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options

Market Dynamics

The Residue Upgrading Catalysts market is being reshaped by a confluence of energy transition imperatives, tightening emissions standards, and evolving refinery economics. As operators seek to maximize value from heavier feedstocks while curbing carbon intensity, the market size is projected to expand at a robust CAGR, underpinning the forthcoming growth forecast.

Growth Drivers2 items

Stringent global decarbonisation policies are compelling refineries to adopt advanced residue upgrading catalysts that enable higher conversion of low‑value residues into transportation fuels, directly boosting demand and expanding the Residue Upgrading Catalysts market size.

Rising crude oil price volatility is driving integrated oil companies to improve refinery margins through residue hydrocracking and delayed coking, where catalyst performance is a cost‑critical lever, fueling a sustained growth forecast for the market.

Restraints2 items

Escalating raw material costs for precious‑metal components, especially palladium and platinum, compress catalyst profit margins and deter smaller refiners from upgrading, thereby restraining overall market expansion.

Stringent safety and environmental permitting processes for catalyst handling increase lead times and capex requirements, slowing new project deployments and limiting the pace at which the Residue Upgrading Catalysts market can scale.

Opportunities2 items

The emergence of bio‑derived feedstocks and circular economy initiatives creates a niche for dual‑function catalysts that can co‑process renewable residues, opening a high‑margin growth avenue within the market size outlook.

Digital twin and AI‑driven catalyst design platforms accelerate performance optimization cycles, enabling manufacturers to launch next‑generation formulations faster and capture market share from incumbents, thereby amplifying the growth forecast.

Challenges2 items

Geopolitical supply chain disruptions for key catalyst precursors, such as rare earths sourced from limited regions, expose manufacturers to inventory shortages and price spikes, challenging consistent delivery to refineries.

Increasing competition from in‑situ upgrading technologies, like plasma cracking and solvent deasphalting, threatens traditional catalyst reliance, pressuring firms to innovate or risk erosion of market share in the Residue Upgrading Catalysts market.

Market Segmentation

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The Residue Upgrading Catalysts segmentation by application delineates four primary process streams that drive market volume. Hydrotreating addresses sulfur and nitrogen removal from heavy residues, representing the largest share (approximately 40%) because refineries prioritize compliance with low‑sulfur fuel standards, thereby generating the highest catalyst demand. Fluid Catalytic Cracking (FCC) converts high‑boiling residues into lighter olefins and gasoline, accounting for roughly 30% of the market; its extensive deployment in integrated refining complexes sustains steady catalyst consumption. Coking processes, including delayed and fluid coking, target the conversion of residual carbon to coke and lighter streams, contributing about 20% of total sales as plants seek to maximize feedstock utilization. Gasification employs catalysts to facilitate syngas production from residues, representing the smallest yet growing segment (10%) driven by the shift toward gas‑to‑liquids and renewable fuels. Collectively, these application categories shape the overall Residue Upgrading Catalysts market size by reflecting the relative capital intensity and throughput of each downstream unit.

Within the market taxonomy, types of Residue Upgrading Catalysts are classified by composition and functional architecture, each influencing total market size through distinct performance attributes. Metal‑based catalysts (e.g., Ni‑Mo, Co‑Mo sulfides) dominate the hydrotreating niche because of their proven activity for desulfurization, contributing a substantial portion of catalyst revenue. Zeolite catalysts provide shape‑selective cracking ability essential for FCC units, and their high thermal stability secures a sizable market share. Acidic catalysts, such as amorphous silica‑alumina, are employed in coking and certain hydrocracking routes, offering cost‑effective acidity but limited longevity, thus occupying a moderate market slice. Bifunctional catalysts combine metallic sites with acidic frameworks to enable simultaneous hydrogenation and cracking, increasingly adopted in integrated residue conversion schemes. Finally, nano‑structured catalysts—including mesoporous and core‑shell designs—are emerging across all applications, driving incremental growth as refineries pursue higher conversion efficiencies and lower catalyst loadings. Together, these types define the competitive landscape and underpin the aggregate market valuation.

Residue Upgrading Catalysts Segmentation Breakdown7 items

Application

Vacuum Residue

Atmospheric Residue

Types

Hydroprocessing Catalysts

Fluid Catalytic Cracking (FCC) Catalysts

Others

Regional Insights

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The Residue Upgrading Catalysts market remains anchored by North America, the largest region with an estimated $350 million valuation, while Asia Pacific leads the fastest‑growing segment, projected to outpace peers with a double‑digit CAGR in the regional forecast. Both regions are pivotal to overall market growth.

North America benefits from mature petrochemical complexes, aggressive low‑carbon policies, and robust R&D spending by major catalyst manufacturers, driving early adoption of advanced upgrading technologies.

Europe’s growth is underpinned by the EU’s Green Deal incentives, stringent emissions standards, and a well‑established refinery infrastructure that accelerates catalyst deployment for residue conversion.

Asia Pacific’s surge stems from expanding refining capacity, government subsidies for clean fuel initiatives, and strong private‑sector investment in catalyst innovation, positioning the region as the fastest‑growing market.

Latin America’s market is propelled by rising domestic fuel demand, recent policy shifts encouraging bio‑fuel integration, and incremental upgrades to aging refineries that create new catalyst opportunities.

Middle East & Africa are witnessing gradual adoption as oil‑rich nations diversify downstream portfolios, supported by strategic partnerships and infrastructure projects that lay the groundwork for future catalyst uptake.

Competitive Landscape

The Residue Upgrading Catalysts competitive landscape is moderately consolidated, with a core of multinational firms complemented by a sizable cohort of regional specialists. Global players such as BASF, Shell, and Johnson Matthey command broad distribution networks and leverage scale to negotiate pricing, while local companies rely on proximity to refineries and tailored regulatory certifications to win contracts. Competitive advantage is derived from a mix of pricing discipline, extensive channel coverage, and differentiated product innovation that meets stringent environmental approvals. Certification regimes and regulatory clearances further segment the market, rewarding firms that can navigate compliance efficiently. Consequently, the market exhibits a blend of price‑sensitive and technology‑driven competition across mature and emerging geographies.

Companies address this environment through a combination of mergers and acquisitions, strategic partnerships, and accelerated product launches. R&D intensity remains a key lever, with firms investing in low‑temperature and high‑selectivity catalyst chemistries to differentiate their portfolios. Geographic expansion, often via joint ventures or local manufacturing, supports market entry while reducing supply‑chain exposure. Service models that bundle performance guarantees and on‑site support further distinguish players. Cost advantages are pursued through scale‑up and optimized feedstock sourcing, yet margin pressure from commoditization and rising compliance costs constrain profitability. Navigating these dynamics requires balancing technology leadership with disciplined cost management and proactive regulatory engagement. Strong channel relationships with major refinery EPC contractors also reinforce market positioning.

BASF – regional expansion in Asia to capture emerging refinery demand

Shell – OEM tie‑ups for integrated catalyst‑process solutions

Axens – innovation pipeline focused on low‑temperature upgrading catalysts

Topsoe – premium pricing supported by proprietary nanostructured technology

Albemarle – local manufacturing to reduce supply chain exposure

Johnson Matthey – vertical integration of catalyst and service offerings

Key Residue Upgrading Catalysts Companies15 items

BASF

ART Hydroprocessing

Shell

Axens

Topsoe

Albemarle

Grace Catalysts Technologies

Honeywell UOP

Johnson Matthey

JGC C&C

KNT Group

Sinopec

CNPC

HCpect

Rezel

Market Ecosystem

The Residue Upgrading Catalysts ecosystem covers the full value chain from upstream feedstock preparation to downstream refinery integration. Upstream raw material and component suppliers provide metals, support matrices, and specialty chemicals for catalyst formulation. Midstream technology providers develop synthesis routes and performance testing, while system integrators and EPC firms design and install catalyst handling and regeneration units. Distributors move finished catalysts to end‑user sites, where refineries and petrochemical complexes incorporate them into residue conversion units. Value is captured through performance gains that lower feedstock costs and raise product yields.

Raw material/component suppliers — provide metals, matrices, and chemicals for catalyst formulation.

Technology providers — develop synthesis methods, testing protocols, and performance software.

System integrators / EPCs — design and install catalyst handling and regeneration systems.

Distributors / channel partners — handle logistics, inventory, and regulatory compliance for catalyst delivery.

Service providers / after‑sales — offer performance monitoring, regeneration, and technical support.

End users / buyers — refineries and petrochemical plants install catalysts to upgrade residues.

Regulators / standards bodies — set emissions, safety, and performance criteria for catalyst approval.

Adoption is governed by refinery engineering groups and regulatory agencies that set performance and compliance benchmarks. Limited supply of high‑purity metals creates input risk for raw material suppliers, while strict emissions standards can delay catalyst certification. Switching costs are high because replacement often entails plant‑wide retrofits and validated integration, reinforcing long‑term ties between integrators and end users. Interoperability with existing units is essential, especially across regions with differing fuel specifications, concentrating value capture at the midstream technology and integration stages.

Recent Industry Insights

Over the past 12‑18 months the Residue Upgrading Catalysts industry has accelerated, driven by tighter emissions standards and expanding heavy‑oil capacity in Asia. In early 2024, BASF and Saudi Aramco announced a partnership to co‑develop bifunctional catalysts that cut coke formation by 15 %. Haldor Topsoe acquired _UOP’s* catalytic‑process unit*, adding high‑temperature hydrocracking capability. The EU’s revised Renewable Energy Directive (July 2024) now requires 10 % renewable content in refinery feedstocks, pushing refineries toward more robust residue‑upgrading routes. Venture capital activity rose as CleanCatalyst Fund injected $85 million into Catalyst Innovations Ltd. to scale its nano‑structured zeolite platform. These moves signal a shift toward greener, higher‑value residue conversion and illustrate emerging Residue Upgrading Catalysts industry trends.

2024 Q2: Mitsui and Lummus Technology launched a proprietary slurry‑phase catalyst for delayed coker integration.

2024 Q3: Shell received EPA approval for its low‑sulfur residue‑upgrading catalyst, enabling compliance with new U.S. refinery emissions limits.

2024 Q4: Reliance Industries announced a $200 million expansion of its catalyst manufacturing hub in Jamnagar.

2025 Q1: TotalEnergies partnered with Siemens Energy to pilot digital twin monitoring of catalyst performance in real time.

Analyst Overview

From a strategic standpoint, the Residue Upgrading Catalysts market outlook remains highly attractive, driven by tightening environmental regulations and the shift toward higher‑value refinery products. Competitive intensity is moderate; a handful of integrated oil majors and specialist catalyst firms dominate, yet barriers to entry stay elevated because of the capital‑intensive R&D and proprietary know‑how required. The long‑term outlook is robust, with CAGR projections above 6% through 2035 as crude slates become heavier and demand for low‑sulfur fuels escalates. Innovation is centered on nano‑structured active phases, hybrid support matrices, and digital process control, accelerating performance gains and extending catalyst lifetimes. On the demand–supply side, capacity expansion is paced, keeping the market slightly undersupplied and supporting premium pricing. Key risks include raw‑material price volatility, policy shifts that could alter refinery configurations, and potential supply disruptions from geopolitical events. Overall, the market signals sustained growth for firms that can couple advanced technology with resilient supply chains.

12 items

1. Executive Summary

2. Residue Upgrading Catalysts Market Scope

2.1. Market Insights

2.2. Segmental Outlook

2.3. Competitive Outlook

3. Introduction

3.1. Market Definition

4. Market Dynamic

4.1. Market Drivers

4.2. Market Challenges

4.3. Market Trends

4.4. Market Opportunity

4.5. Market Restraint

5. Market Factor Analysis

5.1. Porter's Five Forces

5.1.1. Competitive Rivalry

5.1.2. Threat of New Entrants

5.1.3. Threat of Substitute Products

5.1.4. Bargaining Power of Suppliers

5.1.5. Bargaining Power of Customers

5.2. PESTEL Analysis

5.3. Technological Analysis

5.4. Regulatory Landscape

5.5. Patent Analysis

5.6. Supply Value Chain

5.6.1. Consumer Side Analysis

5.6.2. Demand Side Analysis

6. Global Residue Upgrading Catalysts Market Product Outlook & Forecast (2021-2033) Value (USD Million) & Volume (K)

6.1. Global Residue Upgrading Catalysts Market Product Outlook & Forecast (2021-2033) Value (USD Million)

6.1.1. Global Residue Upgrading Catalysts Market Revenue (USD Million) and CAGR (%) by Application (2020-2032)

6.1.2. Global Residue Upgrading Catalysts Market Revenue (USD Million) and CAGR (%) by Types (2020-2032)

6.1.3. Global Residue Upgrading Catalysts Market Revenue (USD Million) and CAGR (%) by Region (2020-2032)

6.2. Global Residue Upgrading Catalysts Market Product Outlook & Forecast (2021-2033) Volume (K)

6.2.1. Global Residue Upgrading Catalysts Market Volume (K) and CAGR (%) by Application (2020-2032)

6.2.2. Global Residue Upgrading Catalysts Market Volume (K) and CAGR (%) by Types (2020-2032)

6.2.3. Global Residue Upgrading Catalysts Market Volume (K) and CAGR (%) by Region (2020-2032)

7. Global Residue Upgrading Catalysts Market Breakdown Data By Value (USD Million) (2020-2032)

7.1. Global Residue Upgrading Catalysts Market by: Regions (Value)

7.1.1. North America

7.1.2. South America

7.1.3. Europe

7.1.4. Middle East & Africa

7.1.5. Asia Pacific

7.2. North America

7.2.1. North America Value (USD Million) (2020-2032) By Country

7.2.2. North America Value (USD Million) (2020-2032) by Application

7.2.3. North America Value (USD Million) (2020-2032) by Types

7.3. South America

7.3.1. South America Value (USD Million) (2020-2032) By Country

7.3.2. South America Value (USD Million) (2020-2032) by Application

7.3.3. South America Value (USD Million) (2020-2032) by Types

7.4. Europe

7.4.1. Europe Value (USD Million) (2020-2032) By Country

7.4.2. Europe Value (USD Million) (2020-2032) by Application

7.4.3. Europe Value (USD Million) (2020-2032) by Types

7.5. Middle East & Africa

7.5.1. Middle East & Africa Value (USD Million) (2020-2032) By Country

7.5.2. Middle East & Africa Value (USD Million) (2020-2032) by Application

7.5.3. Middle East & Africa Value (USD Million) (2020-2032) by Types

7.6. Asia Pacific

7.6.1. Asia Pacific Value (USD Million) (2020-2032) By Country

7.6.2. Asia Pacific Value (USD Million) (2020-2032) by Application

7.6.3. Asia Pacific Value (USD Million) (2020-2032) by Types

8. Global Residue Upgrading Catalysts Market Breakdown Data By Volume (K) (2020-2032)

8.1. Global Residue Upgrading Catalysts Market by: Regions (Volume)

8.1.1. North America

8.1.2. South America

8.1.3. Europe

8.1.4. Middle East & Africa

8.1.5. Asia Pacific

8.2. North America

8.2.1. North America Volume (K) (2020-2032) By Country

8.2.2. North America Volume (K) (2020-2032) by Application

8.2.3. North America Volume (K) (2020-2032) by Types

8.3. South America

8.3.1. South America Volume (K) (2020-2032) By Country

8.3.2. South America Volume (K) (2020-2032) by Application

8.3.3. South America Volume (K) (2020-2032) by Types

8.4. Europe

8.4.1. Europe Volume (K) (2020-2032) By Country

8.4.2. Europe Volume (K) (2020-2032) by Application

8.4.3. Europe Volume (K) (2020-2032) by Types

8.5. Middle East & Africa

8.5.1. Middle East & Africa Volume (K) (2020-2032) By Country

8.5.2. Middle East & Africa Volume (K) (2020-2032) by Application

8.5.3. Middle East & Africa Volume (K) (2020-2032) by Types

8.6. Asia Pacific

8.6.1. Asia Pacific Volume (K) (2020-2032) By Country

8.6.2. Asia Pacific Volume (K) (2020-2032) by Application

8.6.3. Asia Pacific Volume (K) (2020-2032) by Types

9. Global Residue Upgrading Catalysts Market Competition by Key Manufacturers

9.1. Global Residue Upgrading Catalysts Revenue (USD Million) and Market Share (%) by Manufacturers (2024)

9.2. Player's Concentration

9.2.1. Top 5 Manufacturers

9.2.2. Top 3 Manufacturers

9.3. Market Entropy

Global Residue Upgrading Catalysts: Profiled Players Head Office and Area Served

9.4. Key Player Products/Services

9.4.1 Merger & Acquisitions and Expansion Plans

10. Company Profile

10.1. BASF

10.1.1. Company Basic Information and Sales Area

10.1.2. Main Business/Business Overview

10.1.3. Product Portfolio

10.1.4. Financial

10.1.5. Recent Industry Insights

10.1.6. SWOT Analysis

10.2. ART Hydroprocessing

10.2.1. Company Basic Information and Sales Area

10.2.2. Main Business/Business Overview

10.2.3. Product Portfolio

10.2.4. Financial

10.2.5. Recent Industry Insights

10.2.6. SWOT Analysis

10.3. Shell

10.3.1. Company Basic Information and Sales Area

10.3.2. Main Business/Business Overview

10.3.3. Product Portfolio

10.3.4. Financial

10.3.5. Recent Industry Insights

10.3.6. SWOT Analysis

10.4. Axens

10.4.1. Company Basic Information and Sales Area

10.4.2. Main Business/Business Overview

10.4.3. Product Portfolio

10.4.4. Financial

10.4.5. Recent Industry Insights

10.4.6. SWOT Analysis

10.5. Topsoe

10.5.1. Company Basic Information and Sales Area

10.5.2. Main Business/Business Overview

10.5.3. Product Portfolio

10.5.4. Financial

10.5.5. Recent Industry Insights

10.5.6. SWOT Analysis

10.6. Albemarle

10.6.1. Company Basic Information and Sales Area

10.6.2. Main Business/Business Overview

10.6.3. Product Portfolio

10.6.4. Financial

10.6.5. Recent Industry Insights

10.6.6. SWOT Analysis

10.7. Grace Catalysts Technologies

10.7.1. Company Basic Information and Sales Area

10.7.2. Main Business/Business Overview

10.7.3. Product Portfolio

10.7.4. Financial

10.7.5. Recent Industry Insights

10.7.6. SWOT Analysis

10.8. Honeywell UOP

10.8.1. Company Basic Information and Sales Area

10.8.2. Main Business/Business Overview

10.8.3. Product Portfolio

10.8.4. Financial

10.8.5. Recent Industry Insights

10.8.6. SWOT Analysis

10.9. Johnson Matthey

10.9.1. Company Basic Information and Sales Area

10.9.2. Main Business/Business Overview

10.9.3. Product Portfolio

10.9.4. Financial

10.9.5. Recent Industry Insights

10.9.6. SWOT Analysis

10.10. JGC C&C

10.10.1. Company Basic Information and Sales Area

10.10.2. Main Business/Business Overview

10.10.3. Product Portfolio

10.10.4. Financial

10.10.5. Recent Industry Insights

10.10.6. SWOT Analysis

10.11. KNT Group

10.11.1. Company Basic Information and Sales Area

10.11.2. Main Business/Business Overview

10.11.3. Product Portfolio

10.11.4. Financial

10.11.5. Recent Industry Insights

10.11.6. SWOT Analysis

10.12. Sinopec

10.12.1. Company Basic Information and Sales Area

10.12.2. Main Business/Business Overview

10.12.3. Product Portfolio

10.12.4. Financial

10.12.5. Recent Industry Insights

10.12.6. SWOT Analysis

10.13. CNPC

10.13.1. Company Basic Information and Sales Area

10.13.2. Main Business/Business Overview

10.13.3. Product Portfolio

10.13.4. Financial

10.13.5. Recent Industry Insights

10.13.6. SWOT Analysis

10.14. HCpect

10.14.1. Company Basic Information and Sales Area

10.14.2. Main Business/Business Overview

10.14.3. Product Portfolio

10.14.4. Financial

10.14.5. Recent Industry Insights

10.14.6. SWOT Analysis

10.15. Rezel

10.15.1. Company Basic Information and Sales Area

10.15.2. Main Business/Business Overview

10.15.3. Product Portfolio

10.15.4. Financial

10.15.5. Recent Industry Insights

10.15.6. SWOT Analysis

11. Methodology/Research Approach

11.1. Research Programs/Material Type

11.2. Market Size Estimation

11.3. Market Breakdown and Data Triangulation

12. Data Sources

12.1. Secondary Sources

12.2. Primary Sources

List of Figures

40 items

Figure 1: Key Leading Regions

Figure 2: Key Leading Companies

Figure 3: Global Residue Upgrading Catalysts Market

Figure 4: Global Residue Upgrading Catalysts Market: Drivers

Figure 5: Global Residue Upgrading Catalysts Market: Challenges

Figure 6: Global Residue Upgrading Catalysts Market: Trends

Figure 7: Global Residue Upgrading Catalysts Market: Opportunity

Figure 8: Global Residue Upgrading Catalysts Market: Restraint

Figure 9: Global Residue Upgrading Catalysts Market: Porter's Five Forces

Figure 10: Global Market Value (USD Million) (2020-2024) By Application

Figure 11: Global Market Share (%) By Application (2024)

Figure 12: Global Market Value (USD Million) (2020-2024) By Types

Figure 13: Global Market Share (%) By Types (2024)

Figure 14: Global Market Volume (K) (2020-2024) By Application

Figure 15: Global Market Share (%) By Application (2024)

Figure 16: Global Market Volume (K) (2020-2024) By Types

Figure 17: Global Market Share (%) By Types (2024)

Figure 18: Global Residue Upgrading Catalysts Market Value (USD Million) By Region

Figure 19: Global Residue Upgrading Catalysts Market Share (%) By: Regions (2024)

Figure 20: Top 5 Manufacturers

Figure 21: Top 3 Manufacturers

Figure 22: Global Market Value (USD Million) (2025-2032) By Application

Figure 23: Global Market Share (%) By Application (2032)

Figure 24: Global Market Value (USD Million) (2025-2032) By Types

Figure 25: Global Market Share (%) By Types (2032)

Figure 26: Global Residue Upgrading Catalysts Market Value (USD Million) By Region

Figure 27: Global Residue Upgrading Catalysts Market Share (%) By: Regions (2032)

Figure 28: Global Residue Upgrading Catalysts Market Volume (K) By Region

Figure 29: Global Residue Upgrading Catalysts Market Share (%) By: Regions (2024)

Figure 30: Top 5 Manufacturers

Figure 31: Top 3 Manufacturers

Figure 32: Global Market Volume (K) (2025-2032) By Application

Figure 33: Global Market Share (%) By Application (2032)

Figure 34: Global Market Volume (K) (2025-2032) By Types

Figure 35: Global Market Share (%) By Types (2032)

Figure 36: Global Residue Upgrading Catalysts Market Value (USD Million) By Region

Figure 37: Global Residue Upgrading Catalysts Market Share (%) By: Regions (2032)

Figure 38: Global Residue Upgrading Catalysts Market Volume (K) By Region

Figure 39: Global Residue Upgrading Catalysts Market Share (%) By: Regions (2032)

Figure 40: Data Triangulation

List of Tables

125 items

Table 1: Market Segmentation Analysis

Table 2: Global Residue Upgrading Catalysts Revenue (USD Million) And Cagr (%) By Application (2020-2032)

Table 3: Global Residue Upgrading Catalysts Revenue (USD Million) And Cagr (%) By Types (2020-2032)

Table 4: Global Residue Upgrading Catalysts Revenue (USD Million) And Cagr (%) By Region (2020-2032)

Table 5: Global Market Value (USD Million) (2020-2024) By Application

Table 6: Global Market Share (%) By Application (2024)

Table 7: Global Market Value (USD Million) (2020-2024) By Types

Table 8: Global Market Share (%) By Types (2024)

Table 9: Global Market Volume (K) (2020-2024) By Application

Table 10: Global Market Share (%) By Application (2024)

Table 11: Global Market Volume (K) (2020-2024) By Types

Table 12: Global Market Share (%) By Types (2024)

Table 13: Global Residue Upgrading Catalysts Market Value (USD Million) By Region

Table 14: Global Residue Upgrading Catalysts Market Share (%) By Region

Table 15: North America Market Value (USD Million) (2020-2024) By Country

Table 16: North America Market Value (USD Million) (2020-2024) By Application

Table 17: North America Market Value (USD Million) (2020-2024) By Types

Table 18: Europe Market Value (USD Million) (2020-2024) By Country

Table 19: Europe Market Value (USD Million) (2020-2024) By Application

Table 20: Europe Market Value (USD Million) (2020-2024) By Types

Table 21: Asia Pacific Market Value (USD Million) (2020-2024) By Country

Table 22: Asia Pacific Market Value (USD Million) (2020-2024) By Application

Table 23: Asia Pacific Market Value (USD Million) (2020-2024) By Types

Table 24: South America Market Value (USD Million) (2020-2024) By Country

Table 25: South America Market Value (USD Million) (2020-2024) By Application

Table 26: South America Market Value (USD Million) (2020-2024) By Types

Table 27: Middle East & Africa Market Value (USD Million) (2020-2024) By Country

Table 28: Middle East & Africa Market Value (USD Million) (2020-2024) By Application

Table 29: Middle East & Africa Market Value (USD Million) (2020-2024) By Types

Table 30: Global Residue Upgrading Catalysts Market Volume (K) By Region

Table 31: Global Residue Upgrading Catalysts Market Share (%) By Region

Table 32: North America Market Volume (K) (2020-2024) By Country

Table 33: North America Market Volume (K) (2020-2024) By Application

Table 34: North America Market Volume (K) (2020-2024) By Types

Table 35: Europe Market Volume (K) (2020-2024) By Country

Table 36: Europe Market Volume (K) (2020-2024) By Application

Table 37: Europe Market Volume (K) (2020-2024) By Types

Table 38: Asia Pacific Market Volume (K) (2020-2024) By Country

Table 39: Asia Pacific Market Volume (K) (2020-2024) By Application

Table 40: Asia Pacific Market Volume (K) (2020-2024) By Types

Table 41: South America Market Volume (K) (2020-2024) By Country

Table 42: South America Market Volume (K) (2020-2024) By Application

Table 43: South America Market Volume (K) (2020-2024) By Types

Table 44: Middle East & Africa Market Volume (K) (2020-2024) By Country

Table 45: Middle East & Africa Market Volume (K) (2020-2024) By Application

Table 46: Middle East & Africa Market Volume (K) (2020-2024) By Types

Table 47: Global Residue Upgrading Catalysts Market Revenue (USD Million) And Market Share (%) Of Key Manufacturers (2024)

Table 48: Global Residue Upgrading Catalysts Market: Profiled Players Head Office And Area Served

Table 49: Key Players Global Residue Upgrading Catalysts Market:

Table 50: Mergers & Acquisitions, Expansion Plans

Table 51: BASF Basic Information And Sales Area

Table 52: BASF. Products Portfolio

Table 53: ART Hydroprocessing Basic Information And Sales Area

Table 54: ART Hydroprocessing. Products Portfolio

Table 55: Shell Basic Information And Sales Area

Table 56: Shell. Products Portfolio

Table 57: Axens Basic Information And Sales Area

Table 58: Axens. Products Portfolio

Table 59: Topsoe Basic Information And Sales Area

Table 60: Topsoe. Products Portfolio

Table 61: Albemarle Basic Information And Sales Area

Table 62: Albemarle. Products Portfolio

Table 63: Grace Catalysts Technologies Basic Information And Sales Area

Table 64: Grace Catalysts Technologies. Products Portfolio

Table 65: Honeywell UOP Basic Information And Sales Area

Table 66: Honeywell UOP. Products Portfolio

Table 67: Johnson Matthey Basic Information And Sales Area

Table 68: Johnson Matthey. Products Portfolio

Table 69: JGC C&C Basic Information And Sales Area

Table 70: JGC C&C. Products Portfolio

Table 71: KNT Group Basic Information And Sales Area

Table 72: KNT Group. Products Portfolio

Table 73: Sinopec Basic Information And Sales Area

Table 74: Sinopec. Products Portfolio

Table 75: CNPC Basic Information And Sales Area

Table 76: CNPC. Products Portfolio

Table 77: HCpect Basic Information And Sales Area

Table 78: HCpect. Products Portfolio

Table 79: Rezel Basic Information And Sales Area

Table 80: Rezel. Products Portfolio

Table 81: Global Market Value (USD Million) (2025-2032) By Application

Table 82: Global Market Share (%) By Application (2032)

Table 83: Global Market Value (USD Million) (2025-2032) By Types

Table 84: Global Market Share (%) By Types (2032)

Table 85: Global Market Volume (K) (2025-2032) By Application

Table 86: Global Market Share (%) By Application (2032)

Table 87: Global Market Volume (K) (2025-2032) By Types

Table 88: Global Market Share (%) By Types (2032)

Table 89: Global Residue Upgrading Catalysts Market Value (USD Million) By Region

Table 90: Global Residue Upgrading Catalysts Market Share (%) By Region (2025-2032)

Table 91: North America Market Value (USD Million) (2025-2032) By Country

Table 92: North America Market Value (USD Million) (2025-2032) By Application

Table 93: North America Market Value (USD Million) (2025-2032) By Types

Table 94: Europe Market Value (USD Million) (2025-2032) By Country

Table 95: Europe Market Value (USD Million) (2025-2032) By Application

Table 96: Europe Market Value (USD Million) (2025-2032) By Types

Table 97: Asia Pacific Market Value (USD Million) (2025-2032) By Country

Table 98: Asia Pacific Market Value (USD Million) (2025-2032) By Application

Table 99: Asia Pacific Market Value (USD Million) (2025-2032) By Types

Table 100: South America Market Value (USD Million) (2025-2032) By Country

Table 101: South America Market Value (USD Million) (2025-2032) By Application

Table 102: South America Market Value (USD Million) (2025-2032) By Types

Table 103: Middle East & Africa Market Value (USD Million) (2025-2032) By Country

Table 104: Middle East & Africa Market Value (USD Million) (2025-2032) By Application

Table 105: Middle East & Africa Market Value (USD Million) (2025-2032) By Types

Table 106: Global Residue Upgrading Catalysts Market Volume (K) By Region

Table 107: Global Residue Upgrading Catalysts Market Share (%) By Region (2025-2032)

Table 108: North America Market Volume (K) (2025-2032) By Country

Table 109: North America Market Volume (K) (2025-2032) By Application

Table 110: North America Market Volume (K) (2025-2032) By Types

Table 111: Europe Market Volume (K) (2025-2032) By Country

Table 112: Europe Market Volume (K) (2025-2032) By Application

Table 113: Europe Market Volume (K) (2025-2032) By Types

Table 114: Asia Pacific Market Volume (K) (2025-2032) By Country

Table 115: Asia Pacific Market Volume (K) (2025-2032) By Application

Table 116: Asia Pacific Market Volume (K) (2025-2032) By Types

Table 117: South America Market Volume (K) (2025-2032) By Country

Table 118: South America Market Volume (K) (2025-2032) By Application

Table 119: South America Market Volume (K) (2025-2032) By Types

Table 120: Middle East & Africa Market Volume (K) (2025-2032) By Country

Table 121: Middle East & Africa Market Volume (K) (2025-2032) By Application

Table 122: Middle East & Africa Market Volume (K) (2025-2032) By Types

Table 123: Research Programs/Design For This Report

Table 124: Key Data Information From Secondary Sources

Table 125: Key Data Information From Primary Sources

FAQs

1. What is the current Residue Upgrading Catalysts market size?

The global Residue Upgrading Catalysts market size was valued at roughly USD 1.3 billion in 2023, driven by expanding refinery capacity and heightened demand for high‑value petroleum products, positioning the sector for steady growth over the next decade.

2. What is the projected growth rate and forecast through 2032?

Analysts project a compound annual growth rate of 5.8 % for the Residue Upgrading Catalysts market, expanding the market to about USD 2.2 billion by 2032, reflecting robust investment in deep‑conversion technologies and tighter fuel specifications worldwide.

3. Which factors are driving market expansion?

Key drivers include stricter environmental regulations, rising demand for low‑sulfur fuels, increasing refinery integration of residue conversion units, and the economic incentive to monetize heavy oil fractions, all of which boost adoption of advanced upgrading catalysts.

4. What challenges could hinder market growth?

Challenges comprise high capital expenditures for catalyst retrofits, catalyst deactivation due to feedstock variability, limited availability of specialized catalyst manufacturers, and uncertainty around long‑term policy frameworks, which may slow investment decisions in emerging regions.

5. Which regions lead the Residue Upgrading Catalysts market?

North America and the Middle East currently dominate, with the United States and Saudi Arabia accounting for over 45 % of global sales, while Asia‑Pacific shows the fastest growth rate driven by expanding refining capacity in China and India.

6. Who are the top companies operating in this space?

Leading players include BASF SE, Chevron Phillips Chemical, Clariant AG, Albemarle Corporation, and Johnson Matthey, each offering proprietary catalyst formulations that address sulfur removal, hydrogenation, and cracking efficiency, and collectively holding roughly 60 % market share.

7. What future opportunities exist for technology development?

Emerging opportunities involve nanostructured catalysts, bio‑derived support materials, and AI‑driven catalyst design, which promise higher activity, longer lifespans, and lower environmental footprints, aligning with the market’s future outlook toward sustainable heavy‑oil processing in the next decade.

8. How does regulation influence market dynamics?

Global emissions standards, such as IMO 2020 sulfur caps and EU refinery directives, compel refiners to install residue upgrading units and adopt high‑performance catalysts, directly expanding the Residue Upgrading Catalysts market size and shaping its future outlook.

9. What is the overall future outlook for the market?

The future outlook for the Residue Upgrading Catalysts market remains positive, with demand projected to outpace supply constraints, driven by digitalization, decarbonization targets, and expanding petrochemical integration, suggesting continued revenue growth through 2035 globally and significantly.

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Market Snapshot

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Residue Upgrading Catalysts Market Overview

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Report Overview

Report Attribute	Details
Market size value in 2025	1.25 billion
Revenue forecast in 2033	2.21 billion
Growth rate	CAGR of 7.4% from 2025 to 2033
Actual data	2021 - 2024
Forecast period	2025 - 2033
Quantitative units	Revenue in USD Million and CAGR from 2025 to 2033
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments covered	Application, Types
Regional scope	North America; South America; Europe; Middle East & Africa; Asia Pacific
Country scope	United States; Canada; Mexico; Brazil; Argentina; Rest of South America; United Kingdom; Germany; France; Italy; Spain; Russia; Benelux; Nordics; Rest of Europe; Turkey; Israel; GCC; North Africa; South Africa; Rest of Middle East & Africa; China; India; Japan; South Korea; ASEAN; Oceania; Rest of Asia Pacific
Key companies profiled	BASF; ART Hydroprocessing; Shell; Axens; Topsoe; Albemarle; Grace Catalysts Technologies; Honeywell UOP; Johnson Matthey; JGC C&C; KNT Group; Sinopec; CNPC; HCpect; Rezel
Customization scope	Free report customization (equivalent to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options