Table of Contents
The main objective of this report is to understand 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.
Use this report to:
- Learn more about four catalyst market segments: environmental, refinery, polymer and chemical catalysts.
- Analyze catalysts and catalyst regeneration technologies.
- Receive information about intellectual property (IP) data on catalyst regeneration.
- Gather information about profiles of major players in the catalyst regeneration industries.
- The global market for catalysts and catalyst regeneration reached nearly $23.2 billion and nearly $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 $29.9 billion in 2019.
- Fresh catalysts as a segment is projected to grow from $20.5 billion in 2014 to $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 $4.1 billion in 2014 to nearly $4.9 billion by 2019, increasing at a CAGR of 3.7% for the period 2014-2019.
Introduction & Scope
STUDY GOALS AND OBJECTIVES
BCC Research previously published two reports on the catalyst regeneration market, first in 2006 and again in 2012. Further, BCC Research also published reports on catalysts for the environmental and energy markets in 2010 and on catalysts for the U.S. petrochemicals market in 2011. This report is the third update to the catalyst regeneration market, and includes updated market data. Further, we have included a more detailed analysis of the catalyst market than that in the previous reports. The global catalyst market is estimated to have been valued at nearly $23.2 billion in 2013, and is expected to grow further to $29.9 billion market by 2019 for a five-year CAGR of 4%.
The catalyst regeneration market is expected to cross the $4 billion barrier in 2014 and to grow further to nearly $4.9 billion by 2019, at a CAGR of 3.7%. This represents a
potential growth of nearly $1 billion from 2014 to 2019. The main objective of this report is to understand 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.
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. In this report, a detailed analysis of the four catalyst market segments (environmental, refinery, polymer and chemical catalysts) is undertaken. Market trends in the last few years are studied, and eight major industry trends are reported in Chapter Three. Another objective of the report is to understand more about catalysts and catalyst regeneration technologies. Twenty-one specific processes are addressed and thoroughly reviewed, including the details of each process, types of catalysts used, mechanisms of deactivation of the catalysts and how these catalysts can be
regenerated. This chapter should give further thought to companies in the regeneration market as to which process segments of the market they can grow into.
While catalyst regeneration is a growing market, the numerous experts we consulted with 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 order to educate the end user, BCC Research has studied regeneration process technology in detail, as to 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 how such data can be presented to customers. We believe that the details presented in Chapter Five will be helpful to end users of catalyst regeneration, enabling them to ask the right questions and get the correct answers that could minimize the risk in the choice of regenerated catalysts.
Analysis of the market and an estimation of various segments of the catalyst regeneration market as well as potential growth rates are presented in the report, with this being the core focus of the report. One key driver for catalyst market growth is changes in regulations. Regulations affecting various market segments are reviewed in Chapter Seven of the report, and this summary will be useful for catalyst manufacturers, end users and companies focused on regeneration. An analysis of intellectual property (IP) data on catalyst regeneration is another facet of the report. This data is presented in Chapter Seven, with the objective of understanding both the technologies that have been developed, the pace of technology development and the major companies that are focused on developing IP for catalyst regeneration. The study also points out the monopolistic nature of the IP field, showing that for specific processes and catalysts used there is most likely just a single company that has been developing intellectual property. Data is presented by chronology, company, application field and technology.
The final objective of the report is to convey in-depth information about companies active in the marketplace. In the previous versions of this report, an overview of the
companies was offered; in this report, further details of the companies are provided, including sales data, production facility information and market segments of operation
where such data is available. Merger and acquisition data is also presented.
REASONS FOR DOING THE STUDY
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. In this report, BCC Research has
compiled in detail the regulatory changes that are affecting various market segments.
Since the automotive and environmental market segments are vital customers for the catalyst regeneration market, BCC Research also has studied a number of refineries
worldwide and has included data on production quantity and capacity of refineries worldwide by country. Also presented is data on gas-, oil- and coal-based power plants
worldwide, again segmented by the number of plants and capacity by country. These are important target markets for the catalyst industry. While market data on catalysts was presented in earlier versions of this report, detailed trade data was not included. In the current report, in-depth data is provided for the U.S., European and Japanese catalyst markets, including trade data by each state in the U.S. and catalyst price data by segment for Europe and Japan.
This report is aimed at five major audience groups. Companies that are active in new catalyst development and manufacturing will find the information in the report useful to compare their operations with others in the field, and also to understand their markets and customers. Specifically, the financials of several companies are presented. There is also a separate chapter discussing the regulations in various countries and market segments that affect catalyst usage. The report will be highly useful for professionals in the financial marketplace such as private equity companies, investment managers, owners and C-level executives of companies, and investors and fund managers focused on the energy and petrochemical markets. Catalysts, while a relatively smaller cost component in the petrochemical industry, are vital in the value they add to the market, and regeneration has proven to reduce catalyst costs in half or more in various applications. With the regeneration market now consolidated in the refinery segment, consolidation in other markets, especially environmental catalysts, can be expected in the next decade.
Refineries worldwide are the single largest users of catalyst regeneration; however, market penetration of regeneration technologies in this industry has not even reached
half its full potential. BCC Research estimates that technological understanding of the regeneration process and its benefits by this industry are crucial to ensure continued
growth for the industry, and that the technical details included in this report will be highly useful to technologists in the refining industry. The report is nontechnical in its
approach and is written in a manner that makes it easy for readers to understand the market.
A detailed description of regeneration technologies is an excellent source of ideas for technologists and researchers working in the catalyst industry. Comparison of current
processes used in one market may be directly applicable to other market segments, and the review of a wide range of processes presented in Chapter Four is directly
useful for R&D leaders to understand and appreciate potential markets for growth for their companies. A detailed analysis of U.S. patents is presented that should evoke
discussions that could open new application markets for companies. Specifically, BCC Research has proposed two potential ideas for technologists to consider that have not
been considered previously. Various related industry personnel will also benefit from the report for its broad coverage of the industry. Suppliers to the catalyst manufacturers are a market segment that will find this report useful as a reference guide. Equipment manufacturers that cater to the industry will also find the contents useful.
Environmental regulatory personnel will find the report useful, as it provides the basic technology background available from the industry and details the trends in the
SCOPE AND FORMAT
Meeting rising energy requirements and protecting the environment are among the most important applications of catalyst technology. Broadly speaking, a catalyst is a
substance that increases the rate of a chemical reaction by reducing the required activation energy, but is left unchanged by the reaction. As was the case in the previous review on this topic, the refinery industry remains the largest single user of regenerated catalysts, especially in hydroprocessing to produce refined products such as gasoline and low-sulfur diesel fuel. Regenerated catalysts find use in many types of environmental remediation, from power plant emissions control systems to industrial effluent and municipal waste treatment. Regenerated catalysts lower costs, since they can be significantly cheaper than fresh catalysts and nearly as active.
This report provides an understanding of how the regenerated catalyst business contributes to meeting the energy needs of the world economies, while at the same time helping reduce the costs associated with preventing environmental degradation and remediation of adverse environmental impacts as they occur. While the core focus of the report is catalyst regeneration, we also review the global catalyst market and provide forecasts for various segments, as the catalyst marb>ket trends strongly drive the regeneration market trends. The study is divided into a number of sections and covers the following aspects, each covered in separate chapters:
- Catalysts, the catalyst market scenario and projections.
- Catalyst regeneration technology by application.
- Elements involved in the processes in catalyst regeneration.
- Regulatory aspects affecting the catalyst regeneration marketplace.
- Catalyst regeneration market scenarios and projections.
- Analysis of patents in catalyst regeneration.
- Company profiles for market participants.
METHODOLOGIES AND INFORMATION SOURCES
Information presented in this report was collected and categorized from both primary and secondary information sources. Primary information sources are thought leaders in the industry, who were contacted by E-mail, phone calls or personal visits and interviews. The author acknowledges the strong and open communication provided by several company representatives in this regard. A detailed online survey was also conducted by BCC Research that provided responses from industry personnel about the specifics of the market. The support provided by these contacts is acknowledged with appreciation. Secondary information sources include the Internet, market publications, the U.S.
Patent and Trademarks Office (USPTO), the U.S. Census Bureau, trade statistics, other specific data sources as well as books, technical journal articles, Master’s and Doctoral
thesis documents, and company literature and regulatory filings.
The data collected were analyzed and extrapolated where required, and assumptions were made at several instances based on specific information that was available. The
best possible attempts have been made to accurately portray the market size and trends based on the data that is available from the above-mentioned sources.
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