Recently published research from Markets and Markets, "Catalyst Regeneration Market - Forecast till 2019 ", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/30/2014 -- Catalyst Regeneration Market by Technology (Off-site regeneration and On-site regeneration), by Application (Refinery, Chemicals & Petrochemicals, and Others), by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2019
The catalyst regeneration market was estimated around $3.6 Billion in 2013, with the highest share of more than 60% held by the Europe and Asia-Pacific together. The global market is projected to grow at a CAGR of 5.5% from 2014 to 2019 to reach $5 billion by 2019. The highest growth is forecasted to be in the Asia-Pacific due to the rising refinery capacity and increasing use of catalyst regeneration process, especially in China. ROW is estimated to have the second highest growth at 5.65% from 2014 to 2019.
The numbers of spent catalyst supplying and regenerated catalyst using companies are large in numbers. However, the number of catalyst regenerators is limited. Catalyst regeneration market is a capital intensive market with patented technologies and stringent environmental regulations. Thus the market is dominated mainly by the large players.
The demand for catalyst regeneration service is rising as environmental regulations are getting stringent day by day. Besides, the need for cost optimization strategies is also driving the market. On the other hand, the popularity and superior results of rejuvenation process is hampering the market growth to some extent.
Eurecat S.A. (France) and Porocel Industries LLC (U.S.) are the important active players in the catalyst regeneration market. These companies showed the highest strategy adoptions amongst other players in the catalyst regeneration market from 2010 to 2014.
From 2010 to 2014, expansion was observed as the most important growth strategy adopted by the major catalyst regenerators, accounting for a share of 33% of the total strategies adopted by the players. The other companies CoaLogix (U.S.), STEAG Energy Service LLC (U.S.), and Cormetech (U.S.) also contributed to the market activities in the global catalyst regeneration market during the mentioned period.
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The key companies offering catalyst regeneration services also collaborated with other players in the market to increase their presence in different region and provide a wide variety of services. The regeneration processes used by the major regenerators are patented processes and they have also licensed their technology to different catalyst related companies over the world. Some companies have also followed the acquisition strategy to strengthen their position in the catalyst regeneration market. The large players of the market actively participated in expanding their global reach and widening their services, while the small companies concentrated more on collaborating with leading players and providing quality services.
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