The Global Staged Partial Conversion (SPC) Hydrocracking Process Market was valued at US$ 1041 Million in 2025 and is projected to reach US$ 4392 Million by 2034, growing at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period (2026–2034). This remarkable growth is primarily driven by the global push for cleaner transportation fuels, the need to process heavier, more challenging crude oil feedstocks, and stringent environmental regulations demanding higher-quality, lower-sulfur fuel products.

As the refining industry pivots toward greater efficiency and environmental compliance, the spotlight is on the technology licensors and catalyst developers who are advancing hydrocracking processes. In this blog, we profile the Top 10 Companies in the Staged Partial Conversion (SPC) Hydrocracking Process Industry—a mix of global energy majors, specialized technology firms, and catalyst giants shaping the future of fuel production.

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🔟 1. Shell

Headquarters: The Hague, Netherlands
Key Offering: HyCON (HyC Conversion) SPC Hydrocracking Technology, Catalysts

Shell is a pioneer in hydrocracking technology, with its HyCON process representing a leading SPC solution. This technology allows refiners to selectively convert heavy gas oils into high-value middle distillates like diesel and jet fuel, maximizing refinery profitability and operational flexibility.

Innovation and Market Focus:

• Advanced reactor design for superior heat management and conversion control.

• Integration with Shell’s proprietary catalyst systems for optimized performance.

• Focus on enabling refiners to meet IMO 2020 sulfur specifications and produce premium fuels.

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9️⃣ 2. ExxonMobil Corporation

Headquarters: Irving, Texas, USA
Key Offering: Flexicracking™ Technology, EHC™ Catalysts

ExxonMobil Research and Engineering (EMRE) offers advanced hydrocracking technologies renowned for their reliability and efficiency. Their SPC solutions are designed to handle a wide range of feedstocks, providing refiners with the flexibility to adapt to market demands for diesel, jet fuel, and high-quality lubricant base oils.

Innovation and Market Focus:

• Proprietary catalyst formulations that resist poisoning and extend run lengths.

• Expertise in revamping existing hydrotreaters into more profitable hydrocracking units.

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8️⃣ 3. Honeywell UOP

Headquarters: Des Plaines, Illinois, USA
Key Offering: Unicracking™ Process, HC-100 Series Catalysts

Honeywell UOP is a dominant force in petroleum refining technology, with its Unicracking process being one of the most widely licensed hydrocracking technologies globally. Their SPC configurations are highly efficient, offering high yields of desirable products and exceptional operational stability.

Innovation and Market Focus:

• Single-loop and two-stage Unicracking process designs tailored for partial conversion objectives.

• Continuous development of high-activity catalysts to improve distillate yield and reduce energy consumption.

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7️⃣ 4. Axens

Headquarters: Rueil-Malmaison, France
Key Offering: HyK™ Hydrocracking Technology, HDK® 800 Series Catalysts

Axens provides integrated solutions for the refining industry, including its advanced HyK hydrocracking technology. Their SPC process is engineered for maximum middle distillate production, helping refiners capitalize on strong diesel and jet fuel markets while managing hydrogen consumption effectively.

Innovation and Market Focus:

• Focus on energy efficiency and carbon footprint reduction through innovative process design.

• Strong global technical service network for catalyst loading, startup, and performance optimization.

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Staged Partial Conversion (SPC) Hydrocracking Process Market – View in Detailed Research Report

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6️⃣ 5. Topsoe

Headquarters: Kongens Lyngby, Denmark
Key Offering: HydroFlex™, TK-系列 Hydrocracking Catalysts

Topsoe’s HydroFlex technology is a versatile solution for co-processing renewable feeds alongside traditional petroleum streams, making it highly relevant for the energy transition. Their SPC approach allows refiners to increase yields of renewable diesel and sustainable aviation fuel (SAF).

Innovation and Market Focus:

• Leadership in renewable fuel production through hydrocracking technology.

• Robust catalysts designed for high stability and resistance to contaminants in bio-feeds.

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5️⃣ 6. Advanced Refining Technologies (ART)

Headquarters: Wilmington, Delaware, USA
Key Offering: Hydrocracking Catalysts (Joint Venture of Chevron & Grace)

ART is a leading global catalyst supplier formed as a joint venture between W. R. Grace & Co. and Chevron Corp. The company specializes in high-performance hydrocracking catalysts that enable refiners to achieve superior distillate selectivity and extend catalyst life in SPC units.

Innovation and Market Focus:

• Development of catalysts that maximize jet fuel and diesel yield from vacuum gas oil.

• Close collaboration with Chevron for technology development and real-world validation.

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4️⃣ 7. Johnson Matthey

Headquarters: London, United Kingdom
Key Offering: Hydrocracking Catalysts, Licensing Services

Johnson Matthey is a global leader in sustainable technologies, offering a comprehensive portfolio of catalysts for the refining industry. Their hydrocracking catalysts are designed to deliver high activity and stability, crucial for the demanding conditions of SPC operations.

Innovation and Market Focus:

• Emphasis on catalyst regeneration and recycling services to support a circular economy.

• R&D focused on catalysts that enable lower pressure operation, reducing capital and operating costs.

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3️⃣ 8. Sinopec (China Petroleum & Chemical Corporation)

Headquarters: Beijing, China
Key Offering: S-RHT Hydrocracking Technology, FZC Series Catalysts

As one of the world’s largest refiners, Sinopec has developed its own proprietary hydrocracking technologies to meet domestic and international demand. Their SPC processes are optimized for processing Chinese crude slates and are increasingly competing on the global stage.

Innovation and Market Focus:

• Significant investment in R&D to reduce reliance on foreign technology.

• Focus on cost-effective solutions for large-scale refinery complexes.

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2️⃣ 9. CNPC (China National Petroleum Corporation)

Headquarters: Beijing, China
Key Offering: Hydrocracking Process Technology, PHC Catalysts

CNPC, through its research institutes, has made substantial strides in developing independent refining technologies. Its hydrocracking solutions are deployed across its vast refining network in China and are being offered for international licensing, emphasizing reliability and operational simplicity.

Innovation and Market Focus:

• Development of technologies suited for heavy and high-acid crude oils.

• Integration of hydrocracking units with petrochemical production for increased value.

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1️⃣ 10. Other Key Process Licensors and EPC Contractors

Headquarters: Global
Key Offering: Engineering, Procurement, and Construction (EPC) Services, Technology Integration

Beyond the primary technology licensors, a group of major Engineering, Procurement, and Construction (EPC) firms play a critical role in the SPC hydrocracking market. Companies like Technip Energies, McDermott, and Linde Engineering are responsible for designing and building the complex hydrocracking units that utilize the technologies from the leaders listed above. Their expertise in project management, detailed engineering, and commissioning is indispensable for bringing these multi-billion-dollar investments to life.

Market Role:

• Execution of mega-projects, particularly in the Middle East and Asia.

• Innovation in modular construction and digital twin technologies to reduce project timelines and costs.

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Staged Partial Conversion (SPC) Hydrocracking Process Market – View in Detailed Research Report

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🌍 Outlook: The Future of Hydrocracking is Flexible and Sustainable

The SPC hydrocracking process market is undergoing a significant transformation. While the core objective of upgrading heavy feedstocks remains, the industry is increasingly focused on flexibility, sustainability, and digital integration to meet evolving energy needs.

📈 Key Trends Shaping the Market:

• Renewable Fuel Integration: Technologies like HydroFlex are enabling the co-processing of bio-feeds, positioning hydrocrackers as key assets for producing biofuels and SAF.

• Digitalization and AI: Advanced process control and predictive maintenance powered by AI are optimizing unit performance, improving yields, and reducing unplanned shutdowns.

• Catalyst Innovation: Continuous development of more active, selective, and robust catalysts is crucial for improving economics and extending run lengths.

• Energy Efficiency: New process designs and heat integration schemes are targeting lower energy consumption and a reduced carbon footprint for refinery operations.

Get Full Report Here:
Staged Partial Conversion (SPC) Hydrocracking Process Market – View in Detailed Research Report

The companies listed above are not only providing critical refining technology—they are enabling the transition to a more efficient and sustainable downstream energy sector.