Catalyst Regeneration Market - Forecast(2024 - 2030)
Catalyst Regeneration Market Overview
Catalyst
Regeneration Market is forecast to reach $6.6 billion by 2026, after growing at
a CAGR of 5.5% during 2021-2026. Catalysts are commonly found in refineries and
chemical plants. Growing refining capability is the key driving force in
emerging regions, while superior rejuvenation process results are the main
limiting factor hampering the growth of the catalyst regeneration sector.
However, with the growing use of the refinery continuous catalyst regeneration
process and other applications in both emerging and developed areas, it is
anticipated that the catalyst regeneration market will expand decently in the
near future.
Currently, due
to COVID-19 pandemic, the chemical and petrochemical industries have been highly
impacted, as most of the production plants are shut down or working at low
capacity, owning to this, the demand of catalyst regeneration have been
declined. This factor tends to reduce the growth of the market and expected to imbalance
till the first quarter of 2021.
Report Coverage
The report: “Catalyst Regeneration Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Catalyst Regeneration Acid Market.By Technology: Off-site regeneration and On-site regeneration.
By Application: Refineries, Chemicals and Petrochemicals, Energy, and Others.
By Geography: North America, South America, Europe, APAC, and RoW.
Key Takeaways
- The catalyst regeneration service provided to key players focuses specifically on expansion. To improve their role in the catalyst regeneration industry, the companies pursue the expansion strategy rigorously. Companies such as Porocel and Eurecat have, in some cases, obtained an acceptable player or facility in the target area; some have licensed their proprietary technologies to small players in order to expand their footprint in the target region.
- The growing use of the refinery catalyst regeneration process and other applications in both emerging and developed areas, it is anticipated that the catalyst regeneration market will expand decently in the near future. On the other side, the demand would be constrained by the failure to regenerate a catalyst polluted with lead, arsenic, silicone, vanadium, and others.
Catalyst Regeneration Market Segment Analysis – By Technology
Catalyst Regeneration Market Segment Analysis – By Application
Catalyst Regeneration Market Segment Analysis – By Geography
Catalyst Regeneration Market Drivers
Strict environmental laws to improve expended catalyst use
In the sulphide state, catalysts consist of heavy reactive metals.
In order to retain the properties of the catalyst, the separation of heavy
metals is mandatory, which can only be done by using catalyst regeneration.
Also, in developed countries, rapid industrialization has led to a rise in the
market for petroleum products, this has impacted directly on the usage amount
of catalyst generation. As a result, being the non-toxic and highly demandable
material for chemical process, the regulatory bodies are encouraging catalyst
regeneration in order to provide chemicals and material with nontoxicity level
and also to raise quality standards, which tends to increase the usage of
synthetic materials for end use products. In addition, the main socio-political
factors that are expected to drive the demand during the forecast period are
strict environmental legislation, requirements set by governments to conserve
spent catalysts, and social consciousness.
Catalyst Regeneration Market Challenges
The regulated technologies to remove toxic materials may hamper the growth of market
Market Landscape
Acquisitions/Technology Launches
- In Dec 2016, Haldor Topsoe’s launched its new catalyst by name HyOctane, which have increased the global competition in FCC gasoline post-treatment.