Catalyst Regeneration Market Global Industry Analysis 2013 – 2019
Catalysts are identified as the most significant components in the petroleum refining process. Hydrocracking and hydrotreating catalysts are the most popular methods used to enhance the yield of high-quality light oil fractions obtained from petroleum feedstock and heavier crude oil containing a high level of impurities.A new report published by Transparency Market Research (TMR) analyzes the collaborative efforts adopted by leading chemical processing companies for the removal of metals and impurities in spent catalysts, and making them reusable after their initial use. The report is titled “Catalyst Regeneration Market By Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” and is available on TMR’s official website for sale. According to the report, the global catalyst regeneration market, which stood at US$ 3,447.0 million in 2012, is anticipated to reach US$4,549.1 million in 2019, exhibiting a CAGR of 4.08% therein.
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Every year, the petroleum refining industry invests significantly to replace deactivated catalysts. Potential liabilities associated with disposing and treating spent catalysts are also major concerns faced by the industry. Therefore, the oil and gas industry is considering introducing advanced processes to increase the lifespan of catalysts and to meet increasingly stringent disposal and environment regulations. The increasing demand for regenerated catalysts across emerging economies, stringent environment regulations, and high cost of fresh catalysts are the key factors driving the global catalyst regeneration market. The market is expected to register moderate growth, however, due to harmful gas emissions during onsite regeneration process. This is a significant challenge that the market players need to resolve to attain sustainable growth. Nevertheless, with the launch of the latest technological advances, the market is expected to overcome the challenge soon.
The report segments the catalyst regeneration market into offshore and onshore catalyst regeneration processes in terms of applications. In 2012, the global catalyst regeneration market was dominated by offshore applications, which accounted for 62.32% of the market. The demand for offshore catalyst regeneration is likely to increase over the forecast period, due to the implementation of environmental regulations aimed at reducing harmful emissions released during onsite processes.
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The report segments the global catalyst regeneration market into North America, Europe, Asia Pacific, and Rest of the World. Of these, Asia Pacific led the global market in 2013 and held almost 32.15% of the overall market. The report cited Japan and China as the leading markets for catalyst regeneration in Asia Pacific. North America emerged as the second largest regional market for catalyst regeneration, accounting for 30.73% of the global catalyst regeneration market in 2012. Lower price of regenerated catalysts in the region is expected to boost the catalyst regeneration market in North America significantly over the forecast period.
Catalyst Regeneration Market: Technology Analysis
Catalyst Regeneration Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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