Refining Chemicals Market Size, Share, Opportunities, And Trends By Type (PH Adjustors, Anti-Fouling Agents, Catalyst, Corrosion Inhibitors, Demulsifies), By Application (Hydrotreating, Alkylation, Crude Oil Distillation, Isomerization, Catalytic Cracking), By End-User (Petrochemical Plants, Petroleum Refineries, Oil and Gas Exploration Companies, Chemical Processing Facilities, Others), And By Geography - Forecasts From 2025 To 2030

Refining chemicals are chemically compounded specialties used for processing and purifying crude oil, natural gas, and other raw materials in a refinery. They enable all the significant refining operations, such as cracking, desalting, alkylation, and hydrocracking, which is a process that helps in increasing the product yield and purity, accompanied by a reduction in impurities. Catalysts, corrosion inhibitors, surfactants, biocides, anti-foaming agents, and pH adjusters are some examples of refining chemicals. In refining crude oil, they play a vital role in fuels like gasoline and diesel, as well as petrochemicals and lubricants, by ensuring safe and environmentally friendly operation of refineries.

The increasing demand for crude oil is expected to fuel the market for refining chemicals in the projected period. For instance, according to the Petroleum Planning and Analysis Cell, Ministry of Petroleum and Natural Gas, the total crude oil processed during April 2024 was 21.6 MMT, with a growth of 0.8 percent compared to April 2023. The private refiners processed 7.1 MMT of crude oil, while the PSU/JV company processed 14.5 MMT. The total indigenous crude oil processed was 2.2 MMT, and the total Imported crude oil processed by all Indian refineries (PSU/JV/PVT) was 19.4 MMT.

Moreover, the production of chemicals and petrochemicals is increasing, which is anticipated to fuel the market for refining chemicals in the forecasted period. For instance, according to the Department of Chemicals and Petrochemicals, India, the total major chemicals production increased from 11,243 (‘000 MT) in 2020-21 to 12,743 (‘000 MT) in 2021-22. Additionally, the production of major petrochemicals increased from 42,159 (‘000 MT) in 2020-21 to 44,589 (‘000 MT) in 2021-22. Hence, the growing chemical and petrochemical sector is anticipated to positively influence market growth in the coming years.

What are the refining chemicals market drivers?

• Refining chemicals are an essential component of the refining process for crude oils that maximize various factors of production. They enhance processes like desalting, cracking, and hydro-processing that are necessary for removing salts and water, breaking giant hydrocarbon molecules, and so on. Catalysts accelerate the reaction rate by reacting with molecules, and corrosion inhibitors prevent chemical corrosion in equipment used in refineries. The growing crude oil processing and rising segment production are anticipated to fuel the market for refining chemicals in the projected period.

For instance, according to the Ministry of Petroleum and Natural Gas Economic & Statistics Division, Government of India, the cumulative crude oil production from April 2023 to February 2024 was 26,852.78 TMT, which was 0.48% higher than the previous year. Additionally, in February 2024, the total production of crude oil was 2,331.68 TMT, which was 7.88% higher than in February 2023, when the monthly production was 2,161.37 TMT. Similarly, according to the United States Energy Information Administration, the U.S. field production of crude oil was 4,00,994 thousand barrels in July 2023, which increased to 4,09,344 thousand barrels in July 2024. Hence, the increasing production and processing of crude oil is expected to positively influence market growth in the coming years.

• Rising fuel demand requires refineries to operate at a higher production level, thereby increasing the requirement for refining chemicals to complete the process. Increased activities in refineries to meet the demand for gasoline, diesel, and jet fuel are expected to increase the dependency on refining chemicals. As refining chemicals is essential to maintaining efficiency, compliance, and profitability in a high-demand scenario, with the increasing fuel consumption, the demand for these chemicals is expected to grow in the coming years. According to the India Climate and Energy Dashboard, the petrol coke consumption in India was 15,605.00 (‘000 tonnes) in 2020, which increased to 18,344.50 (‘000 tonnes) in 2022.

• The stringent environmental regulations are expected to trigger the increased requirement for refining chemicals. Clean fuels and minimum emissions have compelled refineries to adopt superior refining processes to produce cleaner fuels. Increased demand for low-sulfur fuels, especially ultra-low sulfur diesel, has been the necessity for desulfurization chemicals and hydro-processing catalysts. Moreover, laws to control emissions and bring down the pollutants involving sulfur oxides (SOx) and nitrogen oxides (NOx) have compelled refineries to use additives. These regulations force refineries to upgrade their processes and increase their reliance on specialized chemicals to meet compliance while maintaining the quality and efficacy of the product. Hence, these are some of the major factors influencing the market for refining chemicals in the projected period.

Geographical outlook of the refining chemicals market:          

• The Asia Pacific region is anticipated to hold a significant share in the coming years.

The Asia Pacific region is expected to dominate the refining chemicals market as it is the major hub for the consumption of petroleum products, including transport fuel and polymers, among others. Additionally, the increasing activities of crude oil production and refining, especially in countries such as India and China, are fueling the demand for refining chemicals in the region. Moreover, the increased petrochemical production in the region is supporting demand for refining chemicals. Strict environmental legislation, primarily regarding sulfur content in fuels, is yet another factor that heightens the use of upgraded refining solutions. Higher output with refined crude types for upgraded refineries will considerably augment the demand for refining chemicals in the Asia-Pacific market.

Key launches in the refining chemicals market:

• In April 2024, Gradiant, a global provider of advanced water and wastewater treatment, launched the CURE chemical. CURE Chemical is expected to set a new benchmark for environmental sustainability and operational excellence for various essential industries worldwide. Its line-up contains over 300 proprietary formulations, including process chemicals, corrosion and scale inhibitors, and biocides, among others.
• In March 2024, Evonik launched a highly sustainable product known as the Octamax™, which will help enhance the sulfur removal process for the refining process. This technology will consist of uniquely selected CoMo and NiMo catalyst regenerated and optimal enhanced conditions for application in cracked gasoline hydrodesulfurization (HDS) units. This cost-effective solution from Evonik will maximize sulfur removal and improve octane level retention to meet the current gasoline pool. It will help in extending the business line for sustainable catalyst operations with refinery applications.

The Refining Chemical Market is analyzed into the following segments:

• By Type:
  • PH Adjustors
  • Anti-Fouling Agents
  • Catalyst
  • Corrosion Inhibitors
  • Demulsifies
• By Application:
  • Hydrotreating
  • Alkylation
  • Crude Oil Distillation
  • Isomerization
  • Catalytic Cracking
• By End-User:
  • Petrochemical Plants
  • Petroleum Refineries
  • Oil and Gas Exploration Companies
  • Chemical Processing Facilities
  • Others
• By Geography:
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits for the Stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Supplier

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. REFINING CHEMICALS MARKET BY TYPE

5.1. Introduction

5.2. PH Adjustors

5.3. Anti-Fouling Agents

5.4. Catalyst

5.5. Corrosion Inhibitors

5.6. Demulsifies

6. REFINING CHEMICALS MARKET BY APPLICATION

6.1. Introduction

6.2. Hydrotreating

6.3. Alkylation 

6.4. Crude Oil Distillation 

6.5. Isomerization 

6.6. Catalytic Cracking 

7. REFINING CHEMICALS MARKET BY END-USER

7.1. Introduction

7.2. Petrochemical Plants

7.3. Petroleum Refineries

7.4. Oil and Gas Exploration Companies

7.5. Chemical Processing Facilities 

7.6. Others

8. REFINING CHEMICALS MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. UK

8.4.2. Germany

8.4.3. France

8.4.4. Italy

8.4.5. Others

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. Israel

8.5.3. Others 

8.6. Asia Pacific

8.6.1. Japan

8.6.2. China

8.6.3. India

8.6.4. South Korea

8.6.5. Indonesia

8.6.6. Thailand

8.6.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Dow 

10.2. BASF SE

10.3.  Exxon Mobil Corporation

10.4. Clariant

10.5. Honeywell International Inc.

10.6. DuPont

10.7. The Lubrizol Corporation

10.8. Chevron Phillips Chemical Company LLC.

10.9. Arkema

10.10. W.R. Grace

Dow 

BASF SE

Exxon Mobil Corporation

Clariant

Honeywell International Inc.

DuPont

The Lubrizol Corporation

Chevron Phillips Chemical Company LLC.

Arkema

W.R. Grace