Dublin, Nov. 23, 2022 (GLOBE NEWSWIRE) -- As of 2022, the global catalyst regeneration market enjoys a valuation of US$ 5.5 billion and is estimated to transcend a sales revenue of 8 billion by the end of 2032.
Rising focus on sustainability, implementation of stringent environmental norms, and increasing demand for petroleum products are prime factors that are expected to shape the catalyst regeneration market growth trajectory in the future. Growing demand for perchloroethylene in the petroleum industry is anticipated to be a major driver for catalyst regeneration demand growth over the coming years. Rising consumption of catalysts in refineries and other petrochemical applications is also expected to decisively influence market growth going forward.
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Asia Pacific is anticipated to be the most opportune regional market for catalyst regeneration throughout the forecast period owing to rapid industrialization, supportive initiatives to boost the manufacturing sector, and the presence of key chemical and petroleum industries. China, Japan, Korea, and India are anticipated to be the leading markets in this region.
Key Takeaways from Market Study
- Currently, the global catalyst regeneration market is valued at US$ 5.5 billion.
- Demand for catalyst regeneration is predicted to increase at a steady CAGR of 4.3% from 2022 to 2032.
- By 2032-end, sales revenue from catalyst regeneration is expected to reach US$ 8.4 billion.
- Rising demand for petroleum products, increasing focus on improving refinery efficiency, implementation of strict environmental regulations, and growing use of perchloroethylene are some prime aspects driving catalyst regeneration market growth forward.
- On the flip side, the inability to recycle and regenerate contaminated catalysts is expected to have a hindering effect on overall market growth in the future.
- The catalyst regeneration market in China is expected to reach a value of US$ 1.7 billion by the end of 2032, expanding at a 5.4% CAGR.
- Demand for catalyst regeneration in Japan is predicted to rise at a sluggish 3.4% CAGR.
- Demand for on-site regeneration is expected to rise at a CAGR of 5% across the forecast period.
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Winning Strategy
Catalyst regeneration service providers are focusing on expanding their business scope by increasing regeneration capacity and driving revenue generation potential. The companies are expected to deploy sustainable regeneration processes that minimize the impact on the environment to achieve their carbon footprint reduction goals. The market is nearing consolidation with some prime catalyst regeneration companies holding significant market share but still has room for some new market players if they deploy correct strategies and come up with innovative solutions.
Find more about the competitive landscape in this brand-new catalyst regeneration research report by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
Competitive Landscape
Key players in the catalyst regeneration market landscape are focusing on improving their service standards and widening their business scope. The market is nearing consolidation with prime catalyst regeneration companies accounting for dominant market shares and this could create difficulties for new entrants in the industry over the coming years.
- In July 2021, BASF, a leading name in the global chemical industry landscape announced the acquisition of Zodiac Enterprises LLC, a company based in Texas, United States that recycles precious metals from industrial scrap that are used as chemical catalysts. Through this acquisition, BASF has widened its chemical catalyst recycling capacity.
Key Companies Profiled:
- BASF SE
- Nippon Ketgen
- Yokogawa Corporation of America
- Nel ASA
- CoaLogix Inc.
- Porocel Industries LLC
- Eurecat S.A.
- Tricat Industries Inc.
- STEAG Energy Services LLC
- CORMETECH
- Catalysts Europe
- Zibo Hengji Chemical Co. Ltd.
- Albemarle Corporation
- AMETEK Inc.
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Segments of Catalyst Regeneration Industry Research
By Technology :
- Off-site Regeneration
- On-site Regeneration
By Application :
- Refineries
- Chemicals & Petrochemicals
- Power & Energy
- Environmental
- Other Applications
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global catalyst regeneration market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of technology (on-site regeneration, off-site regeneration) and application (refineries, chemicals & petrochemicals, power & energy, environmental, other applications), across five major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
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