Press release
Catalyst Regeneration Market Growth Exceed to USD Around 4.70 Billion by 2020
Catalyst Regeneration Market
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Catalysts are widely used in different chemical processes in petroleum refineries, chemical & petrochemical facilities, environmental processes, etc. Catalysts lose its activity over the certain period of time. These catalysts are either disposed of or recycled. The process of restoring catalytic activity of a used catalyst is called as catalytic regeneration.
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 disposal of used catalysts. In the light of these benefits, catalyst regeneration market is expected to witness 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.
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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 quick pace as compared to on-site catalytic regeneration market.
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, environmental segment is expected to witness rapid growth between 2015 and 2020.
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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. 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.
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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This report segments the global catalysts regeneration market as follows:
Global Catalyst Regeneration Market: Technology Segment Analysis
On-site
Off-site
Global Catalyst Regeneration Market: Application Segment Analysis
Petroleum Refining
Chemical Synthesis
Polymer
Environmental
Global Catalyst Regeneration Market: Regional Segment Analysis
North America
US
Europe
Germany
France
UK
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa
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