The global catalyst regeneration market has been estimated at USD XX billion in 2016 and is projected to reach USD XX billion by 2021, at a CAGR of XX% during the forecast period.
The catalyst is a substance that increases the rate of chemical reaction, without being part of the process. Regeneration is the process of making any catalyst reusable, by removing residues. Catalysts can be regenerated on-site or off-site. With around 63% share, off-site catalyst regeneration dominated the catalyst regeneration market, in 2016. Petroleum refining, chemical synthesis, environmental and polymer industries are the major end-user industries in the regeneration market, with petroleum leading the way in market share.
Strict environmental regulations regarding catalyst disposal, the rising cost of fresh catalysts and an increase in refinery capacities in developing countries are the major propellers for the catalyst regeneration market. In contrast, rise in emissions during the process, patented technologies, and the inability to regenerate catalysts infected by silicon, vanadium, lead, etc., can hamper the global market.
The market has been geographically segmented into Asia-Pacific, North America, Europe, South America, and MEA. With about 35% market share, APAC is the dominant regional market in catalyst regeneration, followed by Europe. With an increase in the refinery capacities in China and Japan, APAC is expected to see major growth in the catalyst regeneration market.
Opportunities and Market Players
The major drawback faced by the market is a lack of awareness regarding the use of regenerated catalyst. With an increase in the awareness among industries and also the development of cost-effective regeneration technologies, catalyst regeneration market is expected to see a major growth during the forecast period.
Some of the major companies dominating the market for catalyst regeneration are -
Key Deliverables in the Study