Global Catalyst Regeneration Market revenue projected to go up by 2014-2020
Deerfield Beach, FL -- (SBWIRE) -- 07/18/2017 -- Zion Market Research has published a new report titled "Catalyst Regeneration (On-site and Off-site) Market for Petroleum Refining, Chemical Synthesis, Polymer and Environmental Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020". According to the report, the global catalyst regeneration market was valued at approximate USD 3,720.0 million in 2014 and is expected to reach approximately USD 4,700.0 million by 2020, growing at a CAGR of around 4% between 2015 and 2020. In terms of volume, global catalyst regeneration market stood at 1,475.0 kilo tons in 2014.
Catalysts are an important part of different chemical processes in petroleum refineries, chemical & petrochemical facilities, environmental processes, etc. Large numbers of catalysts are used in wide ranging production processes. However, catalysts tend to lose its catalytic activity over the certain period of time. These catalysts are either disposed of or recycled. The process of restoring the catalytic activity of a used catalyst is called as catalytic regeneration.
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Recycling of hazardous catalysts helps to maintain environmental safety. Regenerated catalysts are growing in popularity as reactivation technologies can restore more than 90% of activity. It helps in reducing the catalyst waste stream, thus diminishing environmental impact while saving significant purchase cost of fresh catalysts. Recycling of catalysts provides cost effective substitute for expensive virgin catalysts. Moreover, recycling saves cost involved in the disposal of used catalysts. In the light of these benefits, catalyst regeneration market is expected to witness the fastest growth as compared to virgin catalysts market. However, certain environmental concerns associated with the recycling of catalysts are expected to limit the growth of this market. Moreover, rejuvenated catalysts some time may not give optimum yield as compared to fresh catalysts.
Catalyst regeneration market can be segmented such as on-site and off-site. Catalyst regeneration process can be carried out at both on-site and off-site. Off-site catalyst regeneration dominated the market with around two third shares of the total market in 2014. Off-site catalytic regeneration is also expected to advance at a quick pace as compared to on-site catalytic regeneration market.
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Petroleum refining, chemical synthesis, polymer and environmental are key application markets for catalyst regeneration. Petroleum refining segment dominated the catalyst regeneration market with over 75% share of the market in 2014. However, the environmental segment is expected to witness rapid growth between 2015 and 2020.
Catalyst Regeneration Market
Asia Pacific was leading the catalyst regeneration market in 2014. Asia Pacific accounted for over 30% share of the total revenue generated by the global catalysts regeneration market in 2014. The growth of catalysts regeneration in the region is mainly propelled by China and Japan. North America, Europe, Latin America and Middle East & Africa are also expected to exhibit moderate growth during the forecast period.
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Some of the key players in the global catalyst regeneration market include Haldor Topsoe, Eurecat U.S. Inc., TriCAT GmbH Catalyst Services, Johnson Matthey PLC, STEAG Energy Services, LLC, Albemarle Corporation, CoaLogix, Inc., Axens S.A., BASF SE, Porocel Adsorbents and Bayer Technology Services GmbH.
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