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Global catalyst market update

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Hydrocarbon Engineering,

BCC Research has released a new report, ‘Global Markets for Catalysts: Focus on Catalyst Regeneration’, which provides an overview of the current market scenario, the growth in the past few years, potential future growth and the changes that are taking place in the catalyst regeneration marketplace.

Report highlights

  • According to BCC Research, the global market for catalysts and catalyst regeneration reached nearly US$23.2 billion and nearly US$24.6 billion in 2013 and 2014, respectively. This market is forecast to grow at a compound annual growth rate (CAGR) of 4.0% to reach US$29.9 billion in 2019.
  • The catalyst regeneration market is expected to cross the US$4 billion barrier in 2014 and to grow further to nearly US$4.9 billion by 2019, at a CAGR of 3.7%. This represents a potential growth of nearly US$1 billion from 2014 to 2019.
  • Fresh catalysts as a segment is projected to grow from US$20.5 billion in 2014 to US$25.0 billion in 2019 at a CAGR of 4.0% for the period 2014 - 2019.
  • Regenerated catalysts as a segment is expected to grow from nearly US$4.1 billion in 2014 to nearly US$4.9 billion by 2019, increasing at a CAGR of 3.7% for the period 2014 - 2019.

The catalyst regeneration market is closely tied to the catalyst market itself, with companies that are heavily focused on R&D growing significantly faster than those that are not. New advances in catalyst technology development also drive the regeneration market. However, while catalyst regeneration is a growing market, the numerous experts consulted by BCC felt that a primary reason for growth not occurring as fast as expected is the lack of faith users have in the regeneration process. Often, refinery operators are not convinced that the regeneration process is reliable or will provide them material that has activity on a par with fresh catalysts. Nor do they believe that the use of a regeneration process will result in cost effective savings. In its report, BCC has highlighted the need for end user education and the importance of asking the right questions (regarding regeneration process technology, how the process works, what kind of monitoring is possible for the process, how the regenerated catalysts are evaluated as suitable for customer use) and getting the correct answers that could minimise the risk in the choice of regenerated catalysts.

The catalyst regeneration market has further consolidated since BCC Research's previous report. Eurecat, the market's largest player, acquired Tricat in 2013, leaving Porocel as the second largest player. These two companies now lead the regeneration market for refinery catalysts. In the environmental catalyst arena, recent years have seen ownership changes for several companies. The segment is not as consolidated as the refinery regeneration market. The other two markets, polymer and chemical catalysts, are largely fragmented and relatively small compared with the catalyst regeneration market. Regulatory changes are expected to significantly affect the catalyst market in the coming years, especially in automotive catalysts and other environmental applications, which are the two largest markets for catalysts.

Adapted from press release by Rosalie Starling

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