Transparency Market Research, in a report titled “Catalyst Regeneration Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” states that the global catalyst regeneration market is anticipated to rise from a value of US$3.4 bn in 2012 to US$4.5 bn in 2019, expanding at a modest 4.08% CAGR from 2013 to 2019.
The TMR report uses the latest research and analysis methodologies to give readers a clear understanding of the structure, elements, and workings of the catalyst regeneration market. With the help of the Porter’s five forces model, the report discusses the threat of new entrants and substitutes, the bargaining power of buyers and suppliers, and the ongoing rivalry among competitors. A SWOT analysis of the competitive landscape sheds light on the strengths, weaknesses, opportunities, and threats of individual companies operating in the catalyst regeneration market.
The research report highlights the key factors driving and restraining the global catalyst regeneration market. The report states that the market is propelled by the high cost of fresh catalysts, the rising demand for offshore catalyst regeneration in emerging economies, the implementation of stringent environmental regulations, and the increase in cost optimization strategies adopted by refineries. In contrast, the rise in emissions during in-situ regeneration of catalysts is anticipated to hamper the expansion of the global market.
On the basis of technology, the catalyst regeneration market is bifurcated into offshore and onshore regeneration. Accounting for a massive 62.32% share in 2012, offshore catalyst regeneration led the overall market as a result of the presence of strict environmental regulations restricting the emission of harmful elements during catalyst regeneration.
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The global catalyst regeneration market is segmented on the basis of geography into Asia Pacific, North America, Europe, and Rest of the World. Accounting for a 32.15% share in 2012, Asia Pacific emerged as the dominant regional segment of the catalyst regeneration market. With Japan and China as the main contributors to the growth of this region, Asia Pacific is being driven by the growing demand for catalyst regeneration, especially from offshore applications.
Asia Pacific is also a highly lucrative market thanks to the constant expansion of several economies in the region. Europe and North America rank second, driven by the growing popularity of offshore populations and lower prices. Even though the Rest of the World region – comprising Latin America, Russia, and the Middle East – accounts for the smallest share in the global catalyst regeneration market, the region possesses possibilities for future growth.