Catalyst Regeneration Market Projected to Reach 1813.63 KT by 2019 - Report by MarketsandMarkets
(PRWEB) November 11, 2014 -- The research report “Catalyst Regeneration Market by Technology, by Application, by Region - Forecast till 2019”.
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Regenerated catalysts have been used by oil refining and petrochemical companies but were not so popular. Due to stringent environmental regulations and cost optimization opted by companies using catalysts, the awareness regarding and the usage of regenerated catalyst is increasing. As a result, the demand for regenerated catalyst is expected to grow parallel to the oil refining and petrochemical industries.
The growth in the refinery capacities of the emerging countries, such as China, India, South Korea, and Taiwan is influencing the changing trends in regenerated catalyst market.. The use of regenerated catalysts leads to cost optimization. This trend is now been adopted by the developing countries which is leading to the growth in catalyst regeneration market.
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The market for regeneration catalyst is projected to grow in the Asia-Pacific and RoW regions due to stringent environmental regulations. This is evident from the fact that the refinery capacity of Asia-Pacific was estimated to be 32.96% of the global refinery capacity in 2013. At the same time, the market for regenerated catalysts in North America and Europe is expected to witness a steady CAGR due to existing high penetration level of regenerated catalysts.
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The regenerated catalyst market size is projected to reach 1813.63 kt, in terms of volume, by 2019. Apart from oil refining and petrochemical industries, the regenerated catalysts are also applied in other industries which include power, energy, and environment.
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