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Catalyst Handling Services Market by Service Type, End-use Industry and Region - Global Forecast to 2025 - ResearchAndMarkets.com

·3-min read

The "Catalyst Handling Services Market by Service Type (Loading/Unloading, Screening, Transport), End-use Industry (Petroleum Refining, Petrochemical), Region (North America, APAC, Europe, Middle East & Africa, South America) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global catalyst handling services market size is projected to reach USD 620.5 million by 2025 at a CAGR of 4.0%.

The demand for catalyst handling services in emerging economies, such as APAC, MEA, and South America, is increasing owing to the growth in industrial activities. Increasing consumption of petrochemical products is also driving the market. Increasing demand for electric vehicles and reduction in capex by oil & gas companies are major restraining factors for the market. However, incorporation of new technologies such as robotics and automation in catalyst handling along with increasing demand for biofuels are opportunities for the market. On the other hand, decreasing demand for oil due to COVID-19 is a major challenge for the catalyst handling services market.

The loading/unloading segment is estimated to be the fastest-growing in the overall catalyst handling services market in 2020.

Catalyst unloading is a process where the spent catalysts are unloaded through proper operating procedures such as checking hot spots, build up coke formation, and checking for contamination. Catalyst loading is the process of transferring the catalyst from ground level to inside the reactor. The necessity of this service type in reactor cleaning and catalyst changing operations is driving the market growth. Moreover, growth in increased reactor operation efficiency requirements in oil & gas refineries is also driving the market.

Petroleum refining is expected to be the largest catalyst handling services end-use industry in 2020.

Petroleum refining is the largest market owing to the increasing demand for polymer based materials, liquid fuels and others in sectors such as construction, automotive, aerospace, defense, textile, and so on. Also, the growing demand for catalyst handling services to ensure the highest levels of safety and efficiency while charging and discharging reactors and for using specific techniques to handle pyrophoric catalysts are responsible for high growth. In addition, considerable oil & gas industry size in economies such as Brazil, China, Saudi Arabia, Qatar, and so on are driving market growth for petroleum refining.

APAC is projected to be the fastest-growing catalyst handling services market during the forecast period.

The catalyst handling services market in APAC is projected to register the highest CAGR in terms of value during the forecast period. The region is the fastest-growing market for catalyst handling services attributed to the presence of emerging countries, and their high economic growth rate, the rise in infrastructure and industrial projects, and increasing urbanization. Recently, the pandemic impacted regional growth. Government restrictions on the number of people that can gather at one particular place, severely impacted the industry. However, owing to government stimulus packages to counter the negative effects are expected to boost growth in a post-pandemic scenario.

Market Dynamics

Drivers

  • High Growth Scenario in the Petrochemical Industry

Restraints

  • Increasing Demand for Electric Vehicles

  • Reduction in Capex and Opex by End-Use Industry Players

Opportunities

  • Incorporation of Automation and Robotics in Catalyst Handling

  • Increasing Demand for Biofuel

Challenges

  • Decreasing Demand for Crude Oil due to COVID-19

Companies Mentioned

  • Ajaks

  • Anabeeb

  • Buchen-ics

  • Cat Tech International

  • Catalyst Handling Resources

  • Celvac

  • Climbex

  • CR Asia

  • Dickinson Group of Companies

  • Drilldrop

  • Group Peeters

  • HCI

  • Integrity CIS

  • Kanooz Industrial Services

  • Maviro

  • Mourik

  • Plant Tech Services

  • Polman

  • Prior Industrial Services

  • Reactor Services International

  • Technivac

  • Tubemaster

  • Turn 2 Speciality Companies

  • USA DeBusk

  • Veolia Anz

For more information about this report visit https://www.researchandmarkets.com/r/qvtcwq

View source version on businesswire.com: https://www.businesswire.com/news/home/20210224005849/en/

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