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WinterGreen Research, INC. REPORT # SH25021852 683 PAGES 188 TABLES AND FIGURES 2012 $3,700 SINGLE COPY -- $7,400 WEB SITE POSTING Refinery Catalyst Market Shares, Strategies, and Forecasts, Worldwide, 2012 to 2018 Refinery Catalyst Provides Solid State Storage of Energy Useful for Smarter Planet Sensors, Electric Vehicle Batteries, and Renewable Energy Substation Storage Mountains of Opportunity Picture by Susan Eustis WinterGreen Research, Inc. Lexington, Massachusetts www.wintergreenresearch.com 781 853 5078

Refinery Catalyst Market Shares, Strategies, and Forecasts

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Page 1: Refinery Catalyst Market Shares, Strategies, and Forecasts

WinterGreen Research, INC.

REPORT # SH25021852 683 PAGES 188 TABLES AND FIGURES 2012

$3,700 SINGLE COPY -- $7,400 WEB SITE POSTING

Refinery Catalyst Market Shares, Strategies, and Forecasts, Worldwide,

2012 to 2018

Refinery Catalyst Provides Solid State Storage of Energy Useful for Smarter Planet Sensors, Electric Vehicle Batteries, and Renewable Energy Substation

Storage

Mountains of Opportunity

Picture by Susan Eustis

WinterGreen Research, Inc.

Lexington, Massachusetts www.wintergreenresearch.com 781 853 5078

Page 2: Refinery Catalyst Market Shares, Strategies, and Forecasts

WinterGreen Research, INC.

REPORT # SH25021852 683 PAGES 188 TABLES AND FIGURES 2012

$3,700 SINGLE COPY -- $7,400 WEB SITE POSTING

CHECK OUT THESE KEY TOPICS

Keywords: Catalysts

Petroleum Process Chemical Process

Fluid Catalytic Cracking FCC Catalysts

Hydroprocessing Catalysts Metal Refinery Catalys

Nanotechnology

Related Energy Depleting Crude Oil Reserves

Process Catalysts Refining Catalysts Refining Industry Refining Capacity

Maximizing Diesel Production Hydrocracking Hydrotreating

Hydrotreating Process Distillate Hydrotreating

Lithium Carbonate Lithium Chemicals

Lithium Market Opportunity Rare Earth Minerals

Refinery Catalyst Growth Strategy:

Refinery Catalysts: Market Shares, Strategies, and Forecasts, Worldwide, 2012-2018

LEXINGTON, Massachusetts (March 20, 2012) – WinterGreen Research announces that it has published a new study on refinery catalysts. The 2012 study has 683 pages, 188 tables and figures. Worldwide markets are poised to achieve steady growth as countries impose stricter environment controls on the manufacture and use of fossil fuels. Hydroprocessing catalysts are used to create cleaner fuels--especially ULSD. Demand for cleaner fuels is driving the market. Refining catalysts are experiencing strong growth this year. New fuel standards are coupled with refinery increasing use of heavier and dirtier feedstocks and major additions to refining capacity. Refining catalysts are moving to a more balanced market. Producers of fluid catalytic cracking (FCC) catalysts had a surge in demand. The market is shifting from one characterized by oversupply to a more stable sales effort. Hydroprocessing catalyst supply-demand is evolving. Hydroprocessing catalysts are the fastest-growing refinery catalysts. These catalysts help control and improve the operational efficiencies in the petroleum refining process. Demand is lower for the more mature FCC catalysts than the hydroprocessing catalysts. Hydroprocessing catalysts have passed FCC catalysts, becoming the largest segment of the refinery catalyst market. Low sulfur regulations in developed countries, implementation of some sulfur restrictions in China, India and Mexico, and other countries is a significant market driving force. Increasingly higher sulfur-content is present in oil coming out of the ground. The rapidly increasing demand for gasoline and diesel has increased the requirement for raw materials for their production. The limited supply of raw materials increases the overall cost of production.

Page 3: Refinery Catalyst Market Shares, Strategies, and Forecasts

WinterGreen Research, INC.

REPORT # SH25021852 683 PAGES 188 TABLES AND FIGURES 2012

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Reforming catalysts are fundamental to the modernization of product reformate. They contain hydrocarbons with more complex molecular shapes having higher octane values than the hydrocarbons in the naphtha feedstock. The process separates hydrogen atoms from the hydrocarbon molecules and produces significant amounts of byproduct hydrogen gas. Hydrogen is useful for fuel cells, meaning that refineries could become environments for generating electricity. Hydrogen is useful in stationary fuel cells that are evolving a market for providing local power in campus environments. Local power generation is becoming more valued as people realize that the cost of conditioning electricity for the grid is an unnecessary expense in local power environments. Stationary fuel cells represent the base for distributed power generation worldwide. No more new coal plants, no mare extensions to the grid. Distributed power has become mainstream. Distributed generation (DG) refers to power generation at the point of consumption. The use of hydrogen and the manufacture of hydrogen in refinery environments could become significant aspect of markets. According to Susan Eustis, the lead author of the study, “These factors have attracted manufacturers to refinery catalysts, as these help extract relatively more diesel and gasoline from the same amount of crude oil. The refinery catalyst market is thus boosted by the fact that the efficient use of catalysts can help the manufacturers' better address the increasing energy demand. Hydroprocessing faces significant challenges as crude feeds get heavier; there will be more sulphur and nitrogen to extract; more aromatics to saturate; more metals to remove; and more coke to deal with. Refiners have ageing facilities, which may not be designed and optimized to meet new challenges.” Generating power on-site, rather than centrally, eliminates the cost, complexity, interdependencies, and inefficiencies associated with transmission and distribution. Like distributed computing (i.e. the PC) and distributed telephony (i.e. the mobile phone), distributed power generation shifts control to the consumer. As more capital investment is needed, costs for refining fossil fuels will rise, stimulating markets for renewable energy, making them more competitive with fossil fuels. Refinery catalyst markets at $3.3 billion in 2011 are anticipated to reach $4.3 billion in 2018. Market growth comes in large part from demand for cleaner diesel fuel and the availability of newer technology and nanotechnology. Hydrotreating catalysts will continue to achieve the best growth in the petroleum refining market, aided by the increasingly sour nature of the crude petroleum supplied to the market. Efforts by Brazil, China, India and Russia to improve their air quality by the introduction of low-sulfur fuels are ongoing. Hydrocracking and fluid catalytic cracking (FCC) catalysts achieve advances, particularly in Asia as the growing motor vehicle fleet stimulates new gasoline and diesel fuel demand. WinterGreen Research is an independent research organization funded by the sale of market research studies all over the world and by the implementation of ROI models that are used to calculate the total cost of ownership of equipment, services, and software. The company has 35 distributors worldwide,

Page 4: Refinery Catalyst Market Shares, Strategies, and Forecasts

WinterGreen Research, INC.

REPORT # SH25021852 683 PAGES 188 TABLES AND FIGURES 2012

$3,700 SINGLE COPY -- $7,400 WEB SITE POSTING

including Global Information Info Shop, Market Research.com, Research and Markets, Bloomberg, and Thompson Financial. eywords: Catalysts, Petroleum Process, Chemical Process, Fluid Catalytic Cracking FCC Catalysts, Hydroprocessing Catalysts, Metal Refinery Catalyst, Nanotechnology, Related Energy, Depleting Crude Oil Reserves, Process Catalysts, Refining Catalysts, Refining Industry, Refining Capacity, Maximizing Diesel Production, Hydrocracking, Hydrotreating, Hydrotreating Process, Distillate Hydrotreating, Lithium Carbonate, Lithium Chemicals, Lithium Market Opportunity, Rare Earth Minerals

Companies Profiled

Market Leaders Refinery Catalysts Company Profiles Albemarle BASF Haldor Topsoe Honeywell / UOP Advanced Refining Technologies (ART) WR Grace Clariant AG / Süd-Chemie AG Shell CRI IFP Energies nouvelles Group Company / Axens Sinopec China Petrochemical Corporation

Market Participants

Refinery Catalysts Company Profiles Air Products Chevron Clean Diesel Technologies Clean Diesel Technologies / Catalytic Solutions Dow Headwaters Technology Innovation (HTI) UNICAT Catalyst Technologies Indian Oil Corporation

Johnson Matthey KBR Hydroprocessing Nanostellar Petrobras Partnership with Albemarle Quantiam Technologies Inc. Rive Technology and Grace Davison Shell Shell / Sekiyu

Shoaibi Group / General Technology & Systems Company Ltd (GENTAS) Zeochem Zeolyst Selected Refinery Catalyst Companies Emerging Catalyst Companies FCC Catalyst & Additive Suppliers Government Agencies and Other Organizations

Page 5: Refinery Catalyst Market Shares, Strategies, and Forecasts

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REPORT # SH25021852 683 PAGES 188 TABLES AND FIGURES 2012

$3,700 SINGLE COPY -- $7,400 WEB SITE POSTING

Refinery Catalysts: Market Shares, Strategies, and Forecasts, Worldwide, 2012 to 2018

Report Methodology

This is the 502nd report in a series of primary market research reports that provide forecasts in communications, telecommunications, the Internet, computer, software, telephone equipment, health equipment, and energy. Automated process and significant growth potential are a priority in topic selection. The project leaders take direct responsibility for writing and preparing each report. They have significant experience preparing industry studies. They are supported by a team, each person with specific research tasks and proprietary automated process database analytics. Forecasts are based on primary research and proprietary data bases.

The primary research is conducted by talking to customers, distributors and companies. The survey data is not enough to make accurate assessment of market size, so WinterGreen Research looks at the value of shipments and the average price to achieve market assessments. Our track record in achieving accuracy is unsurpassed in the industry. We are known for being able to develop accurate market shares and projections. This is our specialty.

The analyst process is concentrated on getting good market numbers. This process involves looking at the markets from several different perspectives, including vendor shipments. The interview process is an essential aspect as well. We do have a lot of granular analysis of the different shipments by vendor in the study and addenda prepared after the study was published if that is appropriate.

Forecasts reflect analysis of the market trends in the segment and related segments. Unit and dollar shipments are analyzed through consideration of dollar volume of each market participant in the segment. Installed base analysis and unit analysis is based on interviews and an information search. Market share analysis includes conversations with key customers of products, industry segment leaders, marketing directors, distributors, leading market participants, opinion leaders, and companies seeking to develop measurable market share.

Page 6: Refinery Catalyst Market Shares, Strategies, and Forecasts

WinterGreen Research, INC.

REPORT # SH25021852 683 PAGES 188 TABLES AND FIGURES 2012

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Over 200 in depth interviews are conducted for each report with a broad range of key participants and industry leaders in the market segment. We establish accurate market forecasts based on economic and market conditions as a base. Use input/output ratios, flow charts, and other economic methods to quantify data. Use in-house analysts who meet stringent quality standards.

Interviewing key industry participants, experts and end-users is a central part of the study. Our research includes access to large proprietary databases. Literature search includes analysis of trade publications, government reports, and corporate literature.

Findings and conclusions of this report are based on information gathered from industry sources, including manufacturers, distributors, partners, opinion leaders, and users. Interview data was combined with information gathered through an extensive review of internet and printed sources such as trade publications, trade associations, company literature, and online databases. The projections contained in this report are checked from top down and bottom up analysis to be sure there is congruence from that perspective.

The base year for analysis and projection is 2010. With 2010 and several years prior to that as a baseline, market projections were developed for 2011 through 2017. These projections are based on a combination of a consensus among the opinion leader contacts interviewed combined with understanding of the key market drivers and their impact from a historical and analytical perspective.

The analytical methodologies used to generate the market estimates are based on penetration analyses, similar market analyses, and delta calculations to supplement independent and dependent variable analysis. All analyses are displaying selected descriptions of products and services.

This research includes referencde to an ROI model that is part of a series that provides IT systems financial planners access to information that supports analysis of all the numbers that impact management of a product launch or large and complex data center. The methodology used in the models relates to having a sophisticated analytical technique for understanding the impact of workload on processor consumption and cost. WinterGreen Research has looked at the metrics and independent research to develop assumptions that reflect the actual anticipated usage and cost of systems. Comparative analyses reflect the input of these values into models. The variables and assumptions provided in the market research study and the ROI models are based on extensive experience in providing research to large enterprise organizations and data centers. The ROI models have lists of servers from different manufacturers, Systems z models from IBM, and labor costs by category around the world.

Page 7: Refinery Catalyst Market Shares, Strategies, and Forecasts

WinterGreen Research, INC.

REPORT # SH25021852 683 PAGES 188 TABLES AND FIGURES 2012

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This information has been developed from WinterGreen research proprietary data bases constructed as a result of preparing market research studies that address the software, energy, healthcare, telecommunicatons, and hardware businesses.

YOU MUST HAVE THIS STUDY

Refinery Catalysts Market Shares, Strategy, and Forecasts, 2012 to 2018

Table of Contents

Refinery Catalysts Table of Contents and List of Tables and Figures

Refinery Catalysts Executive Summary

REFINERY CATALYSTS MARKET SHARES AND FORECASTS ES-1 Refinery Catalyst Market Driving Forces ES-1

Change Is The Only Constant ES-3 Shift In Refiners' Raw Material Consumption Toward Heavier Feedstocks ES-5 Lower Sulfur Specifications Worldwide ES-6

Refinery Catalyst Market Shares ES-6 Refinery Catalyst Market Forecasts ES-8

Global Refining Catalyst Market Forecast Issues ES-9

Refinery Catalysts Market Description And Market Dynamics

1. REFINERY CATALYSTS MARKET DESCRIPTION AND DYNAMICS 1-1

1.1 Fluid Catalytic Cracking FCC Catalysts And Hydroprocessing Catalysts 1-1 1.1.1 Reducing Emissions From Diesel Engines 1-2 1.1.2 On-Road Vehicles Emission Of Nitrogen Oxide 1-3 1.1.3 Fluid Catalytic Cracking (FCC) 1-4

1.2 Identifying Trends In The Refining Catalyst Market 1-5 1.2.1 Depleting Crude Oil Reserves 1-7 1.2.2 Catalysts Have To Be Protected From Particulates And Foulants 1-8 1.2.3 Conversion Rates 1-9 1.2.4 Catalyst Platforms Comprised Of A Variety Of Different Technologies For A Customized Solution For Each Specific Refinery Or Unit Operation 1-9 1.2.5 Residue Upgrading Challenge 1-10

Page 8: Refinery Catalyst Market Shares, Strategies, and Forecasts

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1.3 Process Catalysts 1-10 1.4 Refining Catalysts 1-10

1.4.1 Refining Catalyst Economic Trends: Btu Growth In Energy Consumption 1-11 1.4.2 Refining Catalyst Business Trends 1-11 1.4.3 Refining Catalyst Business Transformation From A Regional Business To A Global Undertaking Leveraging Economies Of Scale 1-11 1.4.4 Increased Manufacturing Costs 1-12 1.4.5 Catalyst Customization 1-12

1.5 Market Changes Impacting Refinery Operators 1-15 1.5.1 Refinery Catalysts 1-15

1.6 Refinery Catalysts: Suppliers Tap Emerging Markets 1-17 1.6.1 Refining Industry 1-18

1.7 Global Refining Industry Additions 1-19 1.7.1 Sinopec To Boost Refining Capacity To 232 Mln Tons by 2015. 1-20

1.8 Oil Refineries 1-21 1.8.1 Economic Environment Of Constrained Refinery Capex 1-22

1.9 Diesel 1-22 1.9.1 Maximizing Diesel Production Through Integrated Hydroprocessing 1-23

1.10 Hydrotreating 1-24 1.10.1 Hydrotreating Process Description 1-27 1.10.2 Typical Causes Of Deactivation Of Hydroprocessing Catalysts 1-27 1.10.3 Typical Methods Of Performance Recovery and Regeneration Of Hydroprocessing Catalysts 1-28 1.10.4 Hydrotreating Catalysts 1-28 1.10.5 Hydrocracking 1-30

1.11 Fluid Catalytic Cracking (FCC) 1-30 1.12 Reforming 1-32 1.13 Refinery Costs and Supply 1-33 1.14 Fuel Consumption In Transportation 1-34

1.14.1 Changing Trends 1-35 1.14.2 Rising Consumption Of Petroleum Based Derivatives 1-36 1.14.3 Demand For Maintaining High Octane Number 1-36 1.14.4 Catalytic Hydrotreating 1-39

1.15 Natural Gas Energy Market Growth 1-42

Refinery Catalysts Market Shares and Market Forecasts

REFINERY CATALYSTS MARKET SHARES AND FORECASTS 2-1 2.1 Refinery Catalyst Market Driving Forces 2-1

2.1.1 Change Is The Only Constant 2-3 2.1.2 Shift In Refiners' Raw Material Consumption Toward Heavier Feedstocks 2-5 2.1.3 Lower Sulfur Specifications Worldwide 2-6

2.2 Refinery Catalyst Market Shares 2-6 2.2.1 Albemarle Addresses Demand For Refinery Catalysts 2-9 2.2.2 Criterion 2-9 2.2.3 BASF 2-10 2.2.4 Haldor Topsoe 2-10 2.2.5 Johnson Matthey 2-10 2.2.6 SINOPEC Catalyst Company 2-11 2.2.7 UNICAT Catalyst Technologies, Inc. 2-11

2.3 Refinery Catalyst Market Forecasts 2-12

Page 9: Refinery Catalyst Market Shares, Strategies, and Forecasts

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2.3.1 Global Refining Catalyst Market Forecast Issues 2-17 2.4 Hydroprocessing Refinery Catalysts 2-19

2.4.1 Hydrocracking Catalysts 2-19 2.4.2 Hydrodesulphurization Catalyst 2-19 2.4.3 Production of Ultra-Low-Sulfur Diesel ULSD to Meet Global Diesel Needs 2-20 2.4.4 Hydrocracking Integration 2-21 2.4.5 Hydrocracking Meeting Refining Challenges 2-21 2.4.6 Hydrotreating 2-22

2.5 Hydroprocessing Refinery Catalyst Market Shares 2-23 2.5.1 Albemarle Hydroprocessing Catalyst Area 2-27 2.5.2 Albemarle Addressing Is The Need For More Hydroprocessing Capacity 2-28 2.5.3 Haldor Topsoe 2-28 2.5.4 Topsoe Reforming 2-29 2.5.5 Shell / Criterion 2-30 2.5.6 Shell CRI Catalyst Company is part of CRI/Criterion Inc., Ethylene Oxide 2-31 2.5.7 Shell Group Criterion Catalysts & Technologies (Houston) 2-31 2.5.8 ART 2-32 2.5.9 Chevron/Grace Venture, ART 2-34 2.5.10 Axens’ Hydrocracking Technologies 2-34 2.5.11 Axens Diesel Hydrotreating 2-34 2.5.12 Honeywell UOP 2-35 2.5.13 Zeolyst 2-36 2.5.14 Süd-Chemie 2-36 2.5.15 Süd-Chemie Custom Zeolites 2-37 2.5.16 UOP the CANMET 2-37

2.6 Hydroprocessing Catalyst Market Forecasts 2-37 2.6.1 Hydroprocessing Catalyst Market Forecasts 2-40 2.6.2 Customization of Hydroprocessing Catalysts 2-41 2.6.3 Hydroprocessing Refinery Facility 2-43 2.6.4 Distillate Hydrotreating Business 2-43 2.6.5 Hydroprocessing Is A Technology-Driven Market 2-44

2.7 Fluid Catalytic Cracking FCC Refinery Catalysts 2-45 2.8 FCC Refinery Catalyst Market Shares 2-46

2.8.1 BASF 2-50 2.8.2 W.R. Grace 2-50 2.8.3 Albemarle 2-51 2.8.4 Albemarle AFX 2-51 2.8.5 Refinery Operations Rive Technology and Grace Davison in Partnership 2-51

2.9 FCC Refinery Catalyst Market Forecasts 2-52 2.9.1 Crude Oil Refining Process 2-54 2.9.2 Fluid Catalytic Cracking (FCC) Catalyst 2-54

2.10 Reforming Refinery Catalysts 2-55 2.10.1 Stability Of Reforming Catalysts 2-55

2.11 Reforming Refinery Catalyst Market Shares 2-56 2.11.1 Honeywell UOP 2-58 2.11.2 Axens / Criterion Reforming Catalysts 2-59 2.11.3 Haldor Topsoe Reforming Catalysts 2-60 2.11.4 Johnson Matthey Catalysts Pre-Reforming 2-61

2.12 Reforming Refinery Catalyst Market Forecasts 2-61 2.13 Chemical Synthesis, Petroleum Refining And Polymerization Catalysts 2-63

2.13.1 Refining Catalyst Business Transformed From A Regional Business To A Global Undertaking 2-65

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2.13.2 Catalyst Supplier Adaptation to Refining Business 2-65 2.14 Refinery Catalyst Industry Mergers and Acquisitions 2-66

2.14.1 Refinery Catalyst Industry Consolidation 2-66 2.14.2 Axens North America 2-66 2.14.3 BASF 2-67 2.14.4 Johnson Matthey 2-67 2.14.5 DuPont acquired MECS 2-67

2.15 International Oil Companies (IOCs) Disposing Of Downstream Refinery Assets 2-68

2.15.1 2012 Refinery Capacity 2-68 2.15.2 OECD capacity changes 2-69 2.15.3 Non-OECD capacities 2-69

2.16 World Consumption of Energy 2-76 2.16.1 Per Capita Energy Consumption 2-77 2.16.2 Refining Capacity 2-77 2.16.3 Refining Catalyst Producers Innovation Drivers 2-78 2.16.4 BASF Expects Long-Term Global Fuel Demand To Show A Strong Preference For Diesel Over Gasoline 2-79 2.16.5 Globalization & Consolidation 2-79 2.16.6 Alternative Fuels 2-79 2.16.7 Biofuels 2-80

2.17 Refinery Business 2-80 2.18 Refining Catalyst Innovation Drivers 2-80

2.18.1 Lithium 2-81 2.18.2 Albemarle Has Successfully Produced Lithium Carbonate 2-81 2.18.3 Albemarle Discovery in Lithium Carbonate Production 2-84 2.18.4 Market For Lithium Chemicals 2-84

2.19 Worldwide Heterogeneous Catalyst Refining Business 2-84 2.20 Prices for Refining Catalysts 2-85

2.20.1 Hydrotreating Catalysts Prices 2-86 2.21 Global Refinery Catalyst Market, By Metals Products 2-87 2.22 Rare Earth Element Aspects of Catalysts 2-90

2.22.1 Catalyst Substitutes That Exhibit Similar Properties To Rare Earth Elements 2-90 2.22.2 Albemarle’s Rare Earth Free Fuel-Sulfur and SOx- Reduction Solutions 2-91 2.22.3 Albemarle Rare Earth Catalyst 2-91

2.23 Catalyst Regional Analysis 2-94 2.23.1 Refinery Catalyst Market Forecasts by Region 2-97 2.23.2 United States 2-98 2.23.3 OPEC 2-98 2.23.4 North America 2-98 2.23.5 EMEA 2-99 2.23.6 China 2-100 2.23.7 China Monitors Refining Capacity 2-102 2.23.8 Refining in China 2-102 2.23.9 Oil Refining Trends In South Korea – 2-103 2.23.10 Brazil 2-104 2.23.11 Developing Markets 2-104 2.23.12 Company Regional Participation in Refinery Catalyst Markets 2-106 2.23.13 Refinery Capacity Shutdowns By Region, 2011 and 2012 2-107 2.23.14 Haldor Topsoe Strengthens Wet-Gas Sulphuric Acid Units (WSA) Activities in China 2-112 2.23.15 Regional Analysis For All Types Of Chemical Catalysts 2-112

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Refinery Catalysts Products

3. REFINERY CATALYST PRODUCT DESCRIPTION 3-1 3.1 Overview Oil Refinery Catalysts 3-1 3.2 Hydro Processing Catalysts (HPC ) 3-8 3.3 Albemarle Hydro Processing Catalysts (HPC ) Positioning 3-8

3.3.1 Albemarle Hydro Processing Catalysts (HPC ) 3-8 3.3.2 Albemarle Hydroprocessing Catalysts (HPC ) 3-9 3.3.3 Albemarle Pretreat Catalysts Impact on Hydrocracking Catalyst 3-10 3.3.4 Albemarle Diesel Hydrotreating Catalysts 3-11 3.3.5 Albemarle’s STARS Technology 3-12 3.3.6 Albemarle STARS Catalysts Joint Venture Partner Nippon Ketjen Co 3-13 3.3.7 Albemarle STARS Catalyst Multiple Reactivations 3-14 3.3.8 Albemarle STARS Catalysts 3-14 3.3.9 Albemarle STA X™ Technology 3-15 3.3.10 Albemarle Refinery Catalyst Development Related To Hydroprocessing Of Vegetable Oils 3-16 3.3.11 Albemarle / Neste Oil Production Of Renewable Diesel: Neste Oil NExBTL® Technology Scales 3-18 3.3.12 Albermarle Direct Desulfurization Catalyst Resolves Problem For Neste Solvent Production 3-22 3.3.13 Albemarle High-Performance Low Rare Earth Technology: Rare Earth Market 3-23 3.3.14 Albemarle's Low Rare Earth Technology (LRT(TM)) Catalysts Offer Increasing Value as Rare Earth Mineral Prices Continue to Soar. 3-23 3.3.15 Selected Albemarle Catalysts 3-24 3.3.16 Albermarle NEBULA 20 3-28 3.3.17 AlbermarleHydroconversion 3-28 3.3.18 Albermarle KC 2610 3-28 3.3.19 Albemarle Grading & Guard Catalysts 3-29 3.3.20 Albemarle Isomerization 3-32 3.3.21 Albemarle / Axens, ATIS-2L and ATIS-1L 3-32 3.3.22 Catalyst ROI from Albemarle 3-32 3.3.23 Albemarle and Petrobras World-Scale Hydroprocessing Catalysts Production Plant 3-33 3.3.24 Albemarle REACTTM 3-34 3.3.25 Albemarle RServices Commercial Technology Services 3-35 3.3.26 Albemarle Process Technology 3-36 3.3.27 UOP and Albemarle Hydroprocessing Alliance 3-36 3.3.28 Albemarle Alkylation 3-40 3.3.29 Albemarle Catalysts, CBI Lummus and Neste Oil Solid Acid Catalyst Gasoline Alkylation Technology, AlkyClean 3-40 3.3.30 Albemarle Biofuels Catalysts 3-41 3.3.31 Albemarle Unlocking The Potential Of Biomass Through High-Performance, Heterogeneous Catalysts 3-43 3.3.32 Albemarle Corporation Acquires Catilin In Biofuels Market 3-43 3.3.33 Albemarle Grading & Guard Catalysts 3-44 3.3.34 Albemarle Cost Effective Catalysts For Paraffin Isomerization 3-44 3.3.35 Albemarle Speciality Zeolites 3-44 3.3.36 Albemarle Other Catalysts 3-45

3.4 Haldor Topsoe Hydroprocessing Worldwide 3-46 3.4.1 Haldor Topsoe Refining Solutions 3-47 3.4.2 Haldor Topsoe BRIM™ catalysts 3-48 3.4.3 Topsoe Catalysis Hydroprocessing 3-48

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3.4.4 Topsoe Hydro Processing Design Facilities 3-49 3.4.5 Haldor Topsoe Catalyst Varieties 3-50 3.4.6 Haldor Topsoe Researching Catalysis 3-50 3.4.7 Haldor Topsoe BRIM™ catalysts 3-51 3.4.8 Topsoe Meeting Sulphur Specification Standards 3-66 3.4.9 Topsoe Catalytic Reaction Sites 3-66 3.4.10 Topsoe Molybdenum Disulphide Nanocrystals 3-67

3.5 ART Hydro-Treating Catalysts 3-67 3.5.1 Grace Advanced Refining Technologies 3-68 3.5.2 ART Ebullated Bed Resid Hydrocracking Line 3-69 3.5.3 Chevron All Hydroprocessing 3-70

3.6 Axens Hydrocracking 3-72 3.6.1 Axens Hydrocracking Licensing 3-72 3.6.2 Axens Mild Hydrocracking and HyC-10 3-77 3.6.3 Axens Two-Stage Hydrocracking 3-78 3.6.4 Axens Once-Through HyK Hydrocracker 3-80 3.6.5 Axens Amorphous-Type Hydrocracking Catalyst HDK 776 3-80 3.6.6 Axens Hydrocracking Reactor Performance 3-81 3.6.7 Axens’ Hydrocracking Technologies 3-82 3.6.8 Axens HR Series Catalysts with ACE™ Technology 3-83 3.6.9 Axens Hydrocracking Licensing 3-84 3.6.10 Axens Recommended Hydrocracking Process 3-86 3.6.11 Axens Mild Hydrocracking and HyC-10 3-88

3.7 Shell CRI Hydrotreating Catalysts 3-89 3.7.1 Shell Group / CRI / Criterion Inc 3-90 3.7.2 Criterion Ultra Low Sulphur Diesel ULSD 3-96 3.7.3 Criterion Distillate Hydrotreating 3-99 3.7.4 Criterion Distillate Hydrotreating 3-100 3.7.5 Criterion Next Generation Zeolite Nano Scale Technology And Nano Engineering At Production Levels 3-103 3.7.6 Criterion CRI Offers Catalysts For The Full Hydrogenation Of Benzene To Cyclohexane 3-107 3.7.7 Criterion's Distillate Hydrotreating Application 3-107 3.7.8 Criterion’s ASCENT Catalyst Technology 3-108 3.7.9 Criterion CENTINEL™Technology 3-108 3.7.10 Criterion SYNCats™ Specialized Catalysts For Distillate Upgrading 3-109

3.8 BASF Hydrogenation 3-111 3.8.1 BASF Copper-Chrome Catalysts For Hydrogenation Processes 3-111

3.9 Axens Renewable Oils & Fats Hydroprocessing 3-113 3.9.1 Axens and GENTAS to Build Hydroprocessing Catalyst Manufacturing Plant in Saudi Arabia 3-113 3.9.2 Axens Mild Hydrocracking and HyC-10 3-114 3.9.3 Axens Two-Stage Hydrocracking 3-115 3.9.4 Axens Once-Through HyK Hydrocracker 3-117 3.9.5 Axens Amorphous-Type Hydrocracking Catalyst HDK 776 3-117 3.9.6 Axens Hydrocracking Reactor Performance 3-118 3.9.7 Axens’ Hydrocracking Technologies 3-119

3.10 UNICAT Catalyst Technologies 3-120 3.10.1 UNICAT HT-86R 3-121 3.10.2 UNICAT Catalyst Technologies 3-121

3.11 Reforming Catalysts 3-121 3.12 Haldor Topsoe Reforming Catalysts 3-122

3.12.1 Topsoe Steam reforming features 3-125 3.12.2 Topsoe's Steam Reforming Portfolio 3-125 3.12.3 Haldor Topsoe Light Feedstock Reforming Catalysts 3-128

3.13 UOP Hydroprocessing Guard Bed Materials 3-129

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3.14 SINOPEC Catalyst Company FCC, Hydrocracking Catalysts, Residual Oil Hydrogenation Catalysts, Reforming Catalysts 3-130 3.15 FCC 3-130 3.16 Grace FCC 3-131 3.17 Albemarle FCC Additives 3-132

3.17.1 Albemarle Bespoke Catalyst Solution 3-133 3.17.2 Albemarle GO-ULTRA Catalyst Improving Bottoms Conversion 3-135 3.17.3 Albemarle Propylene Maximization in FCC and Residue FCC 3-137 3.17.4 Albemarle AFX 3-137 3.17.5 Albemarle Cerium In SOx Additives 3-138 3.17.6 Albemarle SOxMASTER SOx Reduction Additive 3-139 3.17.7 Albemarle SOx Additive Predictive Model 3-140 3.17.8 Albemarle’s Rare Earth Free Fuel-Sulfur and SOx- Reduction Solutions 3-144 3.17.9 Albemarle Driving Down Sox Mitigation Costs 3-144 3.17.10 Albemarle European Refinery That Uses 7% SOxMASTER 3-145 3.17.11 Albemarle High-Performance Low Rare Earth Technology: Rare Earth Market 3-145 3.17.12 Albemarle Step Change In Catalyst Design Technology For Gas Processing, Refining, Residue Upgrading And Petrochemicals 3-146 3.17.13 Albemarle Delivering Premium FCC Catalysts 3-147 3.17.14 Albemarle KF 770 Catalyst 3-147 3.17.15 Albemarle Bespoke Catalyst Solution 3-150 3.17.16 Albemarle Energy From Alternative Fuel Sources 3-152 3.17.17 Albemarle and Petrobras’s Brazil-Based Joint- Venture Company, Fábrica Carioca de Catalisadores SA (FCC SA) 3-153 3.17.18 Albemarle Advantage In Polyethylene Polyolefin Catalyst Technologies 3-154 3.17.19 Albemarle Breaking Into The Russian GO-ULTRA Gas Oil FCC Market 3-155 3.17.20 Albemarle Specialty Resins 3-155 3.17.21 Albemarle Polyolefin And Chemical Catalysts Division 3-158 3.17.22 Albemarle Catalyst Accessibility 159 3.17.23 Albemarle Propylene Maximization in FCC and Residue FCC 3-160 3.17.24 Albemarle AFX 3-160

3.18 BASF FCC Proximal Stable Matrix and Zeolite (Prox-SMZ) 3-161 3.18.1 BASF 3-162 3.18.2 BASF Multi-Stage Reaction Catalyst (MSRC) Platform 3-163 3.18.3 BASF Advanced Matrix Material 3-163 3.18.4 BASF Development of the Stamina Catalyst 3-165 3.18.5 BASF Stamina resid FCC Distillate Maximization Catalyst 3-166 3.18.6 Commercial Evaluation of BASF Stamina at Big West Oil in Salt Lake City, UT in the FCC Unit 3-168 3.18.7 BASF Catalyst Technology Achieves Maximization Of Highly Efficient FCC Distillate 3-171 3.18.8 Development of the Stamina Catalyst 3-175

3.19 Rive Technology and Grace Davison 3-179 3.20 Haldor Topse 3-180

3.20.1 Haldor Topsoe BRIM™ catalysts 3-180

Refinery Catalysts Technology

4. REFINERY CATALYST TECHNOLOGY 4-1 4.1 Nanotechnology Catalyst Technology Developments 4-1

4.1.1 Topsoe Fundamental Understanding Of Catalysts Through Nanotechnology 4-4

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4.1.2 Topsoe Molybdenum Disulphide Nanocrystals 4-5 4.1.3 Criterion Next Generation Zeolite Nano Scale Technology And Nano Engineering At Production Levels 4-6 4.1.4 Criterion CRI Offers Catalysts For The Full Hydrogenation Of Benzene To Cyclohexane 4-10 4.1.5 Global Energy Demands 4-11

4.2 Hydrocracking Technology 4-13 4.2.1 HFC Designing Catalyst Systems Optimized For The Particular Reactions Occurring Inside A Hydrotreater 4-13 4.2.2 Albemarle Step Change In Catalyst Design Technology For Gas Processing, Refining, Residue Upgrading And Petrochemicals 4-14 4.2.3 Albemarle and Petrobras World-Scale Hydroprocessing Catalysts Production Plant 4-15

4.3 UOP Reforming Catalysts 4-16 4.4 Sweetening Catalysts 4-18 4.5 Isomerization Catalysts 4-18

4.5.1 Isomerization 4-19 4.6 Zeolite Chemistry 4-19

4.6.1 Zeolyst Leverages Zeolite Chemistry 4-19 4.6.2 Zeolyst Hydroprocessing Catalyst 4-22 4.6.3 Zeolites 4-22 4.6.4 Catalyst Zeolites Are Used To Refine Petroleum 4-23 4.6.5 Hydrated Aluminosilicates 4-24 4.6.6 Most Common Natural Zeolites 4-25

4.7 Rare Earth Strategies 4-27 4.7.1 Molycorp’s Mountain Pass, CA 4-28 4.7.2 Lynas Corp 4-29

4.8 Increased Focus On Benzene Management 4-29 4.8.1 Refinery Options for Producing ULSD 4-29 4.8.2 Estimating Costs for Individual Refineries 4-30 4.8.3 ULSD Unit Model Assumptions 4-31

4.9 Emerging Catalyst Companies 4-32 4.10 Bromide 4-33

Refinery Catalysts Company Profiles

5 REFINERY CATALYSTS COMPANY PROFILES 5-1 5.1 Advanced Refining Technologies (ART) 5-1

5.1.1 ART A Leading Global Supplier 5-2 5.1.2 ART 5-3

5.2 Air Products 5-3 5.2.1 Air Products Fourth Quarter Segment Performance 5-7

5.3 Albemarle 5-8 5.3.1 Albemarle Revenue 2011 5-9 5.3.2 Albemarle Committed To Global Sustainability 5-14 5.3.3 Albemarle Technologies 5-15 5.3.4 Albemarle Joint Venture in Saudi Arabia with SABIC 5-27 5.3.5 Albemarle and Petrobras Partnership To Provide South America With Clean Fuels 5-29 5.3.6 Albemarle and Petrobras Partnership To Build Hydroprocessing Catalyst (HPC) Production Plant 5-29 5.3.7 Albemarle Responds to New Refineries in Korea, Japan and India 5-30 5.3.8 Albemarle / Neste Oil Vegetable Oil Refinery 5-31 5.3.9 Albemarle Biofuels 5-32 5.3.10 Albemarle Catilin Technology 5-32 5.3.11 Albemarle Globalization & Consolidation 5-32 5.3.12 Albemarle Acquires Catilin Expanding Biofuels Catalyst Portfolio 5-33

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5.3.13 Albemarle Discovery in Lithium Carbonate Production 5-34 5.3.14 Albemarle Commercial Technology Services 5-35 5.3.15 Albemarle Pretreat Catalysts 5-41 5.3.16 Albemarle Diesel Hydrotreating Catalysts 5-42

5.4 BASF 5-42 5.4.1 BASF Revenue 5-43 5.4.2 BASF Catalysts Division 5-44 5.4.3 BASF Acquisition Of Shell’s CRI/Criterion (Houston) Styrene Catalyst Business 5-44 5.4.4 BASF Qtech Formed To Commercialize Catalytic Surface Coatings For Steam Cracker Furnace Tubes 5-45

5.5 Chevron 5-46 5.6 Clean Diesel Technologies 5-47

5.6.1 Clean Diesel Meeting Global Air Quality Standards 5-48 5.6.2 Clean Diesel Emissions Solution 5-49 5.6.3 Clean Diesel Revenue 5-49 5.6.4 Clean Diesel Technologies / Catalytic Solutions 5-51 5.6.5 Catalytic Solutions Catalyst Division 5-52

5.7 Chevron Pascagoula Refinery Facilities 5-53 5.8 Clariant AG / Süd-Chemie AG, Munich, a Subsidiary of the Swiss company 5-54

5.8.1 Clariant Acquires Sud-Chemie 5-55 5.8.2 Clariant Group / Süd-Chemie Specialty Chemicals 5-58 5.8.3 Süd-Chemie Catalysis and Energy 5-58 5.8.4 Süd-Chemie Business Unit Catalysis & Energy 5-59

5.9 Dow 5-61 5.10 Haldor Topsoe 5-62

5.10.1 Haldor Topsoe 5-62 5.10.2 Haldor Topsoe Researching Catalysis 5-62 5.10.3 Haldor Topsoe Expanding Markets 5-63 5.10.4 Haldor Topsoe BRIM™ catalysts 5-64 5.10.5 Haldor Topsoe Strengthens Wet-Gas Sulphuric Acid Units (WSA) Activities in China 5-82 5.10.6 Topsoe Catalyst Business Model 5-83 5.10.7 Haldor Topsoe Catalysis Research 5-83 5.10.8 Haldor Topsoe Revenue 5-83 5.10.9 Topsoe Wet-Gas Sulphuric Acid WSA 100 plants 5-85 5.10.10 Topsoe WSA Expanding Markets 5-86 5.10.11 Topsoe's Refining Experience 5-86 5.10.12 Haldor Topsoe BRIM™ Catalysts 5-87 5.10.13 Topsoe Hydroprocessing 5-90 5.10.14 Haldor Topsoe Market Experience 5-91 5.10.15 Haldor Topsoe Catalysts 5-91 5.10.16 Haldor Topsoe India Private Limited 5-91 5.10.17 Haldor Topsoe 5-92 5.10.18 Haldor Topsoe Advises Clients 5-92 5.10.19 US Department of Energy Awards 5 Million USD for Advanced Biofuels Technology Project to Topsoe and Partners 5-93 5.10.20 Haldor Topsoe 5-96 5.10.21 Haldor Topsoe Researching Catalysis 5-96

5.11 Headwaters Technology Innovation (HTI) 5-99 5.12 Honeywell / UOP 5-99

5.12.1 Honeywell UOP Technology Selected by Petrobras for Two New Refineries to Expand Diesel Production 5-100 5.12.2 UOP LLC, a Honeywell (NYSE: HON) Contracts 5-101 5.12.3 UOP Regional Locations 5-103 5.12.4 Honeywell Reports Second Quarter 2011 Sales Up 15% to $9.1 Billion 5-103 5.12.5 UOP Catalysts 5-104 5.12.6 Catalysts for Refining 5-105 5.12.7 UOP Distillate-Selective Catalysts 5-108 5.12.8 UPO Hydrotreating Catalysts 5-112

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5.12.9 UOP / Albemarle Guard Bed 5-113 5.12.10 UOP Reforming Catalysts: 5-115 5.12.11 UOP CCR Platforming Catalysts 5-116 5.12.12 UOP Cyclic Reforming Catalysts 5-116 5.12.13 UOP Naphtha Hydrotreating Catalysts 5-117 5.12.14 UOP Sulfur Guard Beds 5-117 5.12.15 UOP High Performance Adsorbents for Drying 5-117 5.12.16 UOP High Performance Chloride Treaters 5-118 5.12.17 UOP Isomerization catalysts: 5-118 5.12.18 UOP Isomerization Catalysts 5-120 5.12.19 UOP BenSat Catalysts for Benzene Saturation 5-121 5.12.20 UOP Naphtha Hydrotreating Catalysts 5-122 5.12.21 UOP Sulfur Guard Beds for Isomerization Process 5-122 5.12.22 UOP High Performance Adsorbents for Drying 5-122 5.12.23 UOP Merox™ Treating Catalysts 5-123 5.12.24 UOP Treating Catalysts 5-124 5.12.25 UOP Catalyst For Aromatics Production 5-125 5.12.26 UOP Liquid-Phase Alkylation Catalysts 5-126 5.12.27 UOP Aromatics Complex 5-127 5.12.28 UOP Ethylbenzene & Styrene 5-128 5.12.29 UOP Cumene & Phenol 5-128 5.12.30 UOP Advanced Catalysts Solutions for Olefins Production 5-128 5.12.31 UOP Olefin Catalysts 5-129 5.12.32 UOP Catalysts for High Quality Detergents Production 5-129 5.12.33 UOP Detergents Technologies 5-130 5.12.34 Honeywell / UOP Renewable Energy and Chemicals Business 5-131 5.12.35 UOP and Albemarle formed the Hydroprocessing Alliance 5-132 5.12.36 UOP Partnership with Crystaphase Products 5-133

5.13 IFP Energies nouvelles Group Company / Axens 5-134 5.13.1 IFP Energies nouvelles Group Company / Eurecat : Catalyst Regeneration And Conditioning Services 5-135 5.13.2 Axens Main Areas Of Activity 5-135 5.13.3 Axens’ Business Units 5-139 5.13.4 Axens Acquires Shell's Criterion Reforming Catalysts & Technology Division 5-141 5.13.5 Axens Engineering Support 5-142 5.13.6 Axens Pilot Plant Testing 5-142 5.13.7 Axens, / IFP Energies nouvelles Group Company R&D Investment 5-142 5.13.8 Axens Positioning: 5-143 5.13.9 Axens Oil Refining Catalysts 5-143 5.13.10 Axens Top of The Barrel Octanizing 5-146 5.13.11 Axens Diesel Hydrotreating 5-146 5.13.12 Axens Catalytic Regeneration Reforming 5-147

5.14 Indian Oil Corporation 5-148 5.14.1 IndianOil Chhatrapati Shivaji International Airport, Mumbai 5-149

5.15 Johnson Matthey 5-150 5.15.1 Johnson Matthey Global Divisions 5-151 5.15.2 Johnson Matthey Acquires FCC Additives Producer Intercat Catalysts 5-151 5.15.3 Johnson Matthey Emission Control Technologies 5-151

5.16 KBR Hydroprocessing 5-152 5.17 Nanostellar 5-152 5.18 Petrobras Partnership with Albemarle 5-158

5.18.1 Petrobras Hydroprocessing Catalysts Investing To Improve Quality Of Oil Derived Streams 5-159 5.19 Quantiam Technologies Inc. 5-159 5.20 Rive Technology and Grace Davison Fluid Catalytic Cracking (FCC) Catalyst Refinery Operations 5-160 5.21 Shoaibi Group / General Technology & Systems Company Ltd (GENTAS) 5-160 5.22 Sinopec China Petrochemical Corporation 5-160

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5.22.1 Sinopec Group China's Largest Producer And Supplier Of Refined Oil Products 5-162 5.22.2 SINOPEC Catalyst Company 5-163 5.22.3 SINOPEC Catalyst Company FCC, Hydrocracking Catalysts, Residual Oil Hydrogenation Catalysts, Reforming Catalysts 5-164

5.23 Shell 5-165 5.23.1 Shell Sekiyu 5-166 5.23.2 Shell Exploration 5-166 5.23.3 Shell Integrated Gas 5-167 5.23.4 Shell CRI 5-167 5.23.5 Shell CRI Catalyst Company is part of CRI/Criterion 5-178 Technical services 5-178 Research and development 5-178 Shell Global Solutions Technology Licensing 5-178 Shell Global Solutions products and services - opens in new window 5-179 5.23.6 Criterion Markets, Customers, Products & Services 5-180 5.23.7 Shell Criterion 5-183 5.23.8 Criterion Sustainable Development 5-187 5.23.9 Shell's Criterion Catalysts & Technology Sells Division to Axens 5-188

5.24 UNICAT Catalyst Technologies 5-188 5.24.1 UNICAT Catalysts for Hydrogen Production 5-192 5.24.2 UNICAT Catalysts 5-194

5.25 WR Grace 5-196 5.25.1 WR Grace Refining Technologies 5-196 5.25.2 Grace Construction Products 5-197 5.25.3 Grace Refining Technologies 5-197 5.25.4 Grace Construction Products 5-198 5.25.5 Grace Specialty Catalysts & Process Technologies 5-198 5.25.6 Grace Polyethylene Catalysts 5-199 5.25.7 Grace Refining Technologies 5-200 5.25.8 Grace Specialty Catalysts 5-201 5.25.9 Grace Refining Technologies: Fluid Catalytic Cracking 5-203 5.25.10 Grace Refining Technologies: Hydroprocessing Catalysts 5-203 5.25.11 Grace Segment Revenue 5-204 5.25.12 Grace Refining Technologies 5-205 5.25.13 Grace Advanced Refining Technologies 5-206 5.25.14 Grace ART Hydrotreating Fundamentals- 5-207 5.25.15 Grace Davison 5-208 5.25.16 Grace Construction Products 5-208 5.25.17 Grace Construction Specialty Building Materials 5-208

5.26 Zeochem 5-209 5.26.1 Zeochem AG Has Developed And Manufactured High Silica Zeolite Products 5-210 5.26.2 Zeochem AG Volatile Organic Compounds VOC's 5-211 5.26.3 ZEOcat® Pentasil Structure Zeolites 5-211 5.26.4 ZEOcat® Mordenite Crystal Structure Zeolite 5-212 5.26.5 ZEOCHEM® Molecular Sieves 5-212 5.26.6 ZEOCHEM Molecular Sieve Adsorbents Basics 5-213

5.27 Zeolyst 5-215 5.28 Selected Refinery Catalyst Companies 5-216

5.28.1 Emerging Catalyst Companies 5-216 5.28.2 FCC Catalyst & Additive Suppliers 5-216 5.28.3 Selected Companies 5-220 5.28.4 Government Agencies and Other Organisations 5-250

List of Tables and Figures Refinery Catalysts Executive Summary

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Table ES-1 ES-2 Refinery Catalyst Market Trends Table ES-2 ES-4 Refinery Catalyst Market Driving Forces Figure ES-3 ES-7 Refinery Catalyst Markets, Dollars, Worldwide, 2011 Figure ES-4 ES-8 Refinery Catalyst Market Forecasts, Shipments, Dollars, Worldwide, 2012-2018 Table ES-5 ES-11 Refining Catalyst Key Trends

Refinery Catalysts Market Description and Market Dynamics

Figure 1-1 1-1 Arabianoilandgas Catalysts Table 1-2 1-5 Refining Catalyst Market Catalytic Processes Market Factors Table 1-3 1-6 Worldwide Refining Industry Profit Margin Improvement Strategy Table 1-4 1-14 Refining Catalysts Usage Figure 1-5 1-23 Shell Oil Maximizing Diesel Production Through Integrated Hydroprocessing Table 1-6 1-25 Naphtha Hydrotreating Table 1-7 1-25 Kerosene Hydrotreating Table 1-8 1-26 Diesel Hydrotreating Table 1-9 1-26 VGO Hydrotreating (FCC Pretreat) Table 1-10 1-27 Typical Causes Of Deactivation Of Hydroprocessing Catalysts Table 1-11 1-29 Hydrotreating Catalysts Uses Table 1-12 1-31 FCC Additives And Catalyst Objectives Figure 1-13 1-37 Handling Chemistry Challenges Table 1-14 1-38 Production Of Ultra-Low-Sulfur Diesel ULSD Complexities Figure 1-15 1-42 Natural Gas Market Growth Figure 1-16 1-43 LNG Value Chain Opportunities

Refinery Catalysts Market Shares and Market Forecasts

Table 2-1 2-2 Refinery Catalyst Market Trends Table 2-2 2-4

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Refinery Catalyst Market Driving Forces Figure 2-3 2-7 Refinery Catalyst Markets, Dollars, Worldwide, 2011 Table 2-4 2-8 Refinery Catalysts Market Shares Dollars, Worldwide, 2011 Figure 2-5 2-12 Refinery Catalyst Market Forecasts, Shipments, Dollars, Worldwide, 2012-2018 Table 2-6 2-13 Refinery Catalysts Market Forecasts Worldwide, 2012-2018 Figure 2-7 2-15 Worldwide Refinery Capacity Additions, 2012 Figure 2-8 2-16 Non OECD Capacity Additions Table 2-9 2-18 Refining Catalyst Key Trends Figure 2-10 2-26 Hydroprocessing Catalyst Market Shares, Dollars, 2011 Table 2-11 2-27 Hydroprocessing Catalysts Market Shares, Dollars, Worldwide, 2011 Figure 2-12 2-38 Hydroprocessing Catalyst Market Forecasts, Shipments, Dollars, Worldwide, 2012-2018 Table 2-13 2-39 Hydroprocessing Catalysts Market Forecasts Worldwide, 2012-2018 Table 2-14 2-39 Hydroprocessing Catalysts: Hydrotreating and Hydrocracking Segment Market Forecasts, Shipments, Worldwide, Dollars, 2012-2018 Figure 2-15 2-47 Fluid Catalytic Cracking (FCC) Catalyst Market Shares, Dollars, 2011 47 Figure 2-16 2- Fluid Catalytic Cracking (FCC) Catalysts Market Shares, Dollars, Worldwide, 2011 Table 2-17 2-53 Fluid Catalytic Cracking FCC Catalysts Market Forecasts Worldwide, 2012-2018 Figure 2-18 2-56 Reforming Catalysts, Market Shares, Dollars, Worldwide, 2011 Table 2-19 2-57 Reforming Catalysts Market Shares, Dollars, Worldwide, 2011 Figure 2-20 2-60 Haldor Topsoe offeres RKNGR Industry Segments Figure 2-21 2-61 Johnson Matthey Caatalysts Pre-Reforming Figure 2-22 2-62 Reforming Catalysts Market Forecasts Worldwide, 2012-2018 Table 2-23 2-63 Reforming Catalysts Market Forecasts Worldwide, 2012-2018 Table 2-24 2-64 Refining Catalyst Types Figure 2-25 2-70 Refinery Hydrotreating Solutions Capacity, 2004

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Figure 2-25 (Continued) 2-71 Refinery Hydrotreating Solutions Capacity, 2004 Figure 2-26 2-72 Recent Refinery Developments Since 2004 Figure 2-27 2-76 World Consumption of Energy Figure 2-28 2-82 Lithium Market Opportunity Figure 2-28 (Continued) 2-83 Lithium Market Opportunity Table 2-29 2-87 Global Refinery Catalyst Market, By Products Table 2-30 2-88 Global Zeolite Products Table 2-31 2-88 Global Refinery Catalyst Metals Table 2-32 2-88 Global Catalyst Precious Metals Market Table 2-33 2-89 Global Refinery Catalyst Transition And Base Metals Table 2-34 2-89 Global Compounds Market, By Products Figure 2-34 2-95 Refinery Catalyst Regional Market Segments, Dollars, 2011 Table 2-35 2-96 Refinery Catalyst Regional Market Segments, 2011 Figure 2-36 2-100 Hydroprocessing Catalysts Regional Market Segments, 2011 Figure 2-37 2-105 Albemarle Investing in Developing Markets / Catalysts Figure 2-38 2-106 Albemarle Regional Market Figure 2-39 2-107 Refinery Capacity Shutdowns By Region, 2011 and 2012 Figure 2-40 2-108 Surge in Refinery Capacity Anticipated Figure 2-41 2-109 Albemarle Positioning in Asia Figure 2-42 2-110 Albemarle Positioning in Middle East / India 110 Figure 2-43 2-111 Albemarle Global Positioning for Organometallics 111

Refinery Catalysts Product Description

Table 3-1 3-1 Oil Refining FCC and Hydroprocessing Catalyst Market Drivers Table 3-2 3-3 Oil Refining Catalyst Market Strengths Table 3-3 3-3 Oil Refining Catalyst Market Weaknesses Table 3-4 3-4

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Oil Refining Catalyst Market Opportunities Table 3-5 3-5 Oil Refining Catalyst Market Challenges Table 3-6 3-6 Sub-Markets Of The Oil Refinery Catalyst Market Table 3-7 3-7 Major Types Of Refinery Catalysts Table 3-8 3-10 Hydroprocessing Alliance combines Albemarle’s Advanced STARS and Nebula with UOP Hydrocracking Catalyst Table 3-9 3-11 Albermarle and UOP Alliance Albemarle’s Diesel Hydrotreating Catalyst Table 3-10 3-16 Albemarle HFC Unique Catalyst Systems Design Features Table 3-11 3-19 Neste Oil / Albemarle NExBTL Proprietary Diesel Catalyst Technology Operational Plants by Production Quantity Table 3-12 3-24 Selected Albemarle Catalysts Table 3-13 3-30 Selected Albemarle Specially Designed Catalysts Figure 3-14 3-33 Albemarle ATIS Table 3-15 3-35 Albemarle Range Of Services Table 3-16 3-38 UOP and Albermarle Catalysts Guard Bed System Against Inorganic Fouling Elements Table 3-17 3-39 UOP and Albermarle Hydroprocessing Catalysts Guard Bed Table 3-18 3-42 Albemarle Portfolio Of Biofuel Catalyst Table 3-19 3-47 Haldor Topsoe Refining Solutions Table 3-20 3-50 Haldor Topsoe Solutions Table 3-21 3-51 Haldor Topsoe Catalyst portfolio Table 3-22 3-70 Chevron CLG's Three-Step, All-Hydroprocessing Figure 3-23 3-71 Chevron Hydroprocessing Technology Figure 3-24 3-72 Axens Hydrocracking Table 3-25 3-73 Axens Hydrocracking Technology Uses Table 3-26 3-74 Axens FCC, SC feeds Table 3-27 3-76 Axens Recommended Hydrocracking Process Table 3-28 3-84 Axens Hydrocracking technology Uses Table 3-29 3-85 Axens FCC, SC feeds

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Table 3-30 3-87 Axens Recommended Hydrocracking Process Figure 3-31 3-90 CRI Offers A Range Of Catalysts With Specific Focus On Hydrogenation Catalysts Figure 3-32 3-91 Criterion Hydrogenation Catalysts Table 3-33 3-92 Shell CRI Catalyst Portfolio Figure 3-34 3-93 CriterionTypical Hydroprocessing Process Unit for Catalyst Products Table 3-35 3-94 Criterion Hydrotreating Catalysts Figure 3-36 3-97 Shell Criterion CRI Ascent Catalyst Hydrogeneration Environment, H2 Consumption Figure 3-37 3-98 Criterion Ascent Catalyst Diesel Benefits Figure 3-38 3-99 Criterion ULSD Catalyst Centera Figure 3-39 3-100 Criterion Distillate Hydrotreating Figure 3-40 3-104 Criterion Nano Engineering Effects Illustrated Figure 3-41 3-105 Criterion Proprietary Zeolite Figure 3-42 3-106 Criterion Base Metal Hydrotreating Catalysts Support Flexibility Figure 3-43 3-106 Criterion R&D Challenge Table 3-44 3-107 Criterion's Distillate Hydrotreating Catalyst Type/Applications Description Table 3-45 3-109 Criterion's Grading and Poison Control Catalyst Type/Applications Description Table 3-46 3-112 BASF Uses for Base-Metal for Copper And Copper-Chrome Catalysts Figure 3-47 3-123 Haldor Topsoe RKNGR Reforming Catalysts Table 3-48 3-125 Topsoe's Steam Reforming Technologies: Figure 5-49 3-126 Haldor Topsoe Reforming Catalysts Figure 3-50 3-128 Haldor Topsoe Reforming Catalysts Table 3-51 3-129 UOP’s Hydroprocessing UF-75 catalyst Figure 3-52 3-131 Grace Construction Fluid Catalytic Cracking Catalysts And Additives Table 3-53 3-141 Albemarle SOx Additive Predictive Model Metrics Figure 3-54 3-142 Albemarle Catalyst Flow Diagram Figure 3-55 3-143 Albemarle Polyolefin Catalyst Innovative Chemistries Table 3-56 3-157

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Albemarle Polyolefin Catalysts Aspects Figure 3-57 3-172 BASF FCC Yield Data for HDXtra Figure 3-58 3-173 BASF Competitive Data HDXtra Figure 3-59 3-174 BASF Competitive Data for COke Figure 3-60 3-176 BASF SEM Micrographs Of A FCC Catalyst With Prox-SMZ Technology Figure 3-61 3-177 BASF Comparison of Coke Yield and LCO Selectivity of Flex-Tec and Stamina Figure 3-62 3-178 BASF Flex and Stamina Comparison of the Bottoms and Naphtha Yield

Refinery Catalysts Technology

Figure 4-1 4-2 Nanostellar Nanoparticle Surface Compositions That Change with Conditions Figure 4-2 4-3 Nanostellar's Rational Design Methodology Table 4-3 4-4 Topsoe Supported Rh Nanocrystal Figure 4-4 4-7 Criterion Nano Engineering Effects Illustrated Figure 4-5 4-8 Criterion Proprietary Zeolite Figure 4-6 4-9 Criterion Base Metal Hydrotreating Catalysts Support Flexibility Figure 4-7 4-10 Criterion R&D Challenge Table 4-11 4-12 Oil Refining Catalysts Table 4-8 4-17 Honeywell UOP CCR Platforming Process Table 4-9 4-20 Variations In Zeolite Chemistry Table 4-10 4-21 Zeolyst Standard Zeolite Powders Figure 4-11 4-33 Albemarle Bromide Position

Refinery Catalysts Company Profiles

Table 5-1 5-4 Air Products Target Markets Table 5-2 5-5 Air Products Formulations Developed Table 5-3 5-6 Specialty Chemicals Cost Benefits Table 5-4 5-9 Albemarle Business Segments Figure 5-5 5-15

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Albemarle Technologies Figure 5-6 5-16 Albemarle Technology Platform Opportunity Scope Figure 5-7 5-17 Albemarle Technology Platform Lithium Opportunity Figure 5-8 5-18 Albemarle Platform Opportunity To Invest in Current Business Figure 5-9 5-19 Albemarle Intersection of Core Capabilities Drives Competitive Advantage Figure 5-10 5-20 Albemarle Technology Platform Adjacent Opportunities Figure 5-11 5-21 Albemarle M&A Figure 5-12 5-22 Albemarle Core Strengths Figure 5-13 5-23 Albemarle Market Leadership Position Figure 5-14 5-24 Albemarle Catalysts Revenue Opportunity Figure 5-15 5-25 Albemarle Catalyst Solution Opportunity for Market Leading Position Figure 5-16 5-26 Albemarle Sees Demand for Bromine Based Fire Safety Figure 5-17 5-28 Albemarle Major Growth Opportunities for Organometallics Table 5-18 5-36 Albemarle Fluid Catalytic Cracking FCC Catalyst Services Table 5-19 5-38 Albemarle Process Additives Figure 5-20 5-57 Süd-Chemie Functional Materials, Catalysts and Energy Table 5-21 5-64 Haldor Topsoe Solutions Table 5-22 5-65 Haldor Topsoe Catalyst portfolio Table 5-23 5-88 Selected Topsoe Partnerships Table 5-24 5-93 Haldor Topsoe Catalyst Market Activity Figure 5-25 5-98 Topsoe New Catalysts And Processes Table 5-26 5-105 UOP Catalyst Solutions Applications: Table 5-27 5-132 UOP and Albemarle Hydroprocessing Alliance Table 5-28 5-134 UOP CatTrap Solutions: Table 5-29 5-136 Axens’ Main Areas Of Activity Figure 5-30 5-136 Axens’ Main Areas Of Activity Figure 5-31 5-138 Axens Portfolio Of Technologies, Catalysts, Adsorbents And Services

Page 25: Refinery Catalyst Market Shares, Strategies, and Forecasts

WinterGreen Research, INC.

REPORT # SH25021852 683 PAGES 188 TABLES AND FIGURES 2012

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Figure 5-32 5-140 Axens Business Units: Figure 5-33 5-143 Axens Oil Refining Catalysts Figure 5-34 5-147 Axens Octanizing (Continuous Catalytic Regeneration Reforming) Figure 5-35 5-153 Nanostellar Nanoparticle Surface Compositions That Change with Conditions Figure 5-36 5-155 Nanostellar's Rational Design Methodology Figure 5-37 5-156 Nanostellar Rational Design Methodology Approach Table 5-38 5-157 Nanostellar Rational Design Methodology Approach Figure 5-39 5-168 Shell CRI Specific Application Catalysts Table 5-40 5-170 Shell CRI Catalysts Figure 5-41 5-171 Shell CRI SCR Catalyst (DeNOX) Figure 5-42 5-172 Shell CRI Catalysts Table 5-43 5-176 CRI catalyst specific applications Table 5-44 5-181 Shell Criterion Hydroprocessing Catalysts Table 5-45 5-184 Criterion Product Applications Table 5-46 5-185 Criterion Hydrocracking Application Table 5-47 5-189 UNICAT Fundamental Principles Table 5-48 5-190 UNICAT Lines Of Catalyst: Xevin Designs Table 5-49 5-191 UNICAT's Catalyst Uses Table 5-50 5-192 UNICAT Catalysts Table 5-51 5-199 Grace Specialty Catalysts

Page 26: Refinery Catalyst Market Shares, Strategies, and Forecasts

WinterGreen Research, INC.

REPORT # SH25021852 683 PAGES 188 TABLES AND FIGURES 2012

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ABOUT THE COMPANY

WinterGreen Research, research strategy relates to identifying market trends through reading and interviewing opinion leaders. By using analysis of published materials, interview material, private research, detailed research, social network materials, blogs, and electronic analytics, the market size, shares, and trends are identified. Analysis of the published materials and interviews permits WinterGreen Research senior analysts to learn a lot more about markets. Discovering, tracking, and thinking about market trends is a high priority at WinterGreen Research. As with all research, the value proposition for competitive analysis comes from intellectual input.

WinterGreen Research, founded in 1985, provides strategic market assessments in telecommunications, communications equipment, health care, Software, Internet, Energy Generation, Energy Storage, Renewable energy, and advanced computer technology. Industry reports focus on opportunities that expand existing markets or develop major new markets. The reports access new product and service positioning strategies, new and evolving technologies, and technological impact on products, services, and markets. Innovation that drives markets is explored. Market shares are provided. Leading market participants are profiled, and their marketing strategies, acquisitions, and strategic alliances are discussed. The principals of WinterGreen Research have been involved in analysis and forecasting of international business opportunities in telecommunications and advanced computer technology markets for over 30 years.

The studies provide primary analytical insight about the market participants. By publishing material relevant to the positioning of each company, readers can look at the basis for analysis. By providing descriptions of each major participant in the market, the reader is not dependent on analyst assumptions, the information backing the assumptions is provided, permitting readers to examine the basis for the conclusions.

ABOUT THE PRINCIPAL AUTHORS

Ellen T. Curtiss, Technical Director, co-founder of WinterGreen Research, conducts strategic and market assessments in technology-based industries. Previously she was a member of the staff of Arthur D. Little, Inc., for 23 years, most recently as Vice President of Arthur D. Little Decision Resources, specializing in strategic planning and market development services. She is a graduate of Boston University and the Program for Management Development at Harvard Graduate School of Business Administration. She is the author of recent studies on worldwide telecommunications markets, the top ten internet equipment companies, the top ten contract manufacturing companies, and the Top Ten Telecommunications market analysis and forecasts.

Susan Eustis, President, co-founder of WinterGreen Research is a senior analyst. She has done research in communications and computer markets and applications. She holds several patents in microcomputing and parallel processing. She has the original patents in electronic voting machines. She has new patent applications in format varying, mulitprocessing, and electronic voting. She is the author of recent studies of the Solar REnewable Energy, Wind Energy, Thin Film Batteries, Business Process Management marketing strategies, Internet equipment, biometrics, a study of Internet Equipment, Worldwide Telecommunications Equipment, Top Ten Telecommunications, Digital Loop Carrier, Web Hosting, Web Services, and Application Integration markets. Ms. Eustis is a graduate of Barnard College.

Page 27: Refinery Catalyst Market Shares, Strategies, and Forecasts

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