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Global Catalyst Regeneration Market to Reach US$6.5 Billion by the Year 2026

Catalysts are widely used in the petroleum & chemical industries and refineries, energy plants and environmental processes to expedite chemical reactions and efficiently facilitate critical reactions in practical conditions. Catalyst regeneration process is intended to restore catalytic properties of spent catalysts, and involves surface coatings and thermal treatment for eliminating absorbed species. The process is garnering increasing attention owing to its compelling merits such as cost optimization, green credentials and recyclability. Growth in the global market is set to be driven by increasing refining capacity across emerging regions and rising focus on refinery continuous catalyst regeneration process in both developed and developing regions. Factors such as notable expansion of refining capacity for addressing rising demand for lower sulfur fuels and implementation of stringent environmental regulations are bolstering the market growth. Rising population and rapid industrialization in Asia and robust demand from diverse industry verticals such as chemical, polymer and refinery are creating new business opportunities for providers of catalyst regeneration process. The strong focus on operational efficiency and cost optimization are paving way for broader adoption of the process. The market gains from stringent norms related to carbon emissions and waste disposal that are prompting industries to process spent catalyst waste prior to disposal.

Amid the COVID-19 crisis, the global market for Catalyst Regeneration estimated at US$5.4 Billion in the year 2022, is projected to reach a revised size of US$6.5 Billion by 2026, growing at a CAGR of 4.5% over the analysis period. Off-Site Regeneration, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach US$3.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the On-Site Regeneration segment is readjusted to a revised 4.9% CAGR for the next 7-year period. This segment currently accounts for a 45.6% share of the global Catalyst Regeneration market. Offsite represents a dominant segment and growth is being influenced by high catalyst activity, and rising demand for high hydrogen purity and higher aromatic content.

The U.S. Market is Estimated at $946.6 Million in 2022, While China is Forecast to Reach $1.3 Billion by 2026

The Catalyst Regeneration market in the U.S. is estimated at US$946.6 Million in the year 2022. The country currently accounts for a 17.54% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.3 Billion in the year 2026 trailing a CAGR of 5.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$1.4 Billion by the end of the analysis period. Regulations in the US classify spent catalysts as hazardous waste owing to their self-heating properties and toxic chemicals. These guidelines are poised to create strong demand for catalyst regeneration. Industries in emerging regions pay more attention to regenerated catalysts owing to their lower costs.