Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Catalyst plays an essential role in several industries for improving process efficiency and product quality. It boosts energy savings and helps to reduce pollution. Catalyst handling services promote the safe use of catalyst in various industrial processes and is also used for spent catalyst management including regeneration, recovery and disposal.
Catalyst handling services includes a wide range of services such as loading, unloading, screening and other services. The services are mainly used in the petroleum refining industry, petrochemical industry, chemical and fertilizer industry and other industries. Personal safety and environmental safety are the key reasons for which catalyst handling services are opted. The catalyst handling services assure a higher level of safety and quality during the overall processes. It is important to treat the catalyst very gently because of its friability. The fresh and spent catalysts contain hazardous substances and can cause adverse effects on human health Moreover, most of operations including loading and unloading of catalysts needs to be performed in inert atmospheres which further enhances the need for professional services and a team of skilled people. The specialist team of catalyst handling services offer safe and higher quality services which improves the overall productivity. The increasing demand for petro-products and rising energy demand boosts the demand for catalyst handling services.
The catalyst handling services market is largely driven by growing demand of petrochemicals. The petrochemical industry is an essential part of several industries, as it provides raw materials for manufacturing a wide range of products. It is used in the manufacturing process of plastics, packaging materials, clothing, digital devices, medical equipment, and others. The demand for the petrochemical industry is also driven by the increasing use in manufacturing various elements of the modern energy system, including solar panels, wind turbine blades, batteries, thermal insulation for building and electric vehicle. Moreover, new petrochemical investments based on liquid feedstocks also supports the growth of the market.
Covid19, drastically affects the world supply chain and industrial sector growth. At the initial stages of the pandemic, the world experienced, ‘supply shocks’. China who plays a major role in the world’s supply chain was severely affected. There were disruptions to the availability of goods supplied from China. Supply of both finished and unfinished goods reduced. Day by day as the situation worsened, quarantines, social distance practices were imposed and nations begun instituting lockdowns. Following this the supply chains experienced demand shocks. The shutdown of economic activities affected all the sectors. Manufacturing and mining industry’s sluggish growth in turn affected the catalyst handling services market. Major customers of catalyst handling services belong to the petroleum refining, petrochemical and chemical & fertilizer industries. Travel bans, reduced fuel consumption and shutdown of refineries drastically affected the growth of the market.
The report analyses the Catalyst Handling Services market based on type, end-use industry and geography
Based on the type, the catalyst handling services market is divided into loading/unloading, screening, transport, and others. Among these, the loading/unloading segment holds the largest market share in the forecast period. The need for loading/unloading to improve operational efficiency is driving the market growth.
The demand for screening services increases from end use industries such as mining, metal smelting and mineral processing industries.
Based on the end-use industry, the catalyst handling services market is divided into petroleum refining, petrochemical, and chemical & fertilizer, and others. Among these, the petroleum refinery segment holds the largest market share. The growth in petroleum refining capacity is driven mainly by the global demand for petro-products.
Petroleum refining is a technology that uses fossil fuels as raw materials and chemical catalysts to convert petroleum into a series of chemical products that are further used as raw materials for the production of synthetic fibres, synthetic rubber, plastics, chemical fertilizers and pesticides.
Among the end-use industries, the petrochemical sector is expected to grow at a faster rate in the coming year. Cost-effectiveness and economic stability of the petrochemical products drives the growth of the market.
Geographically, the Catalyst Handling Services market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East & Africa. APAC dominates the market and mainly consists of major developing countries, such as China, japan, South Korea, and India, and thus there is considerable scope for development for most industries. The region is also the fastest-growing market for catalysts handling services. The growth of the market in the region is due to the presence of emerging countries, and their high economic growth rate, the increase in infrastructure and industrial projects, and growing urbanization. In addition, the availability of low-cost raw materials and labor, combined with significant domestic market demand, makes APAC an attractive investment destination for the refining, chemical and petrochemical industries.
Some of the major players operating in this market include Mourik (Netherlands), Anabeeb (Saudi Arabia), Dickinson Group of Companies (South Africa), CR Asia (Thailand), Veolia Group (Australia), Technivac (UK), CAT Tech (UK), Buchen-ics (Germany), Kanooz (Saudi Arabia), Maviro (US), Expertise (Saudi Arabia), Plant tech (India), Prior Industrial Services (Netherlands), INSEE ECOCYCLE (Thailand) among others.
The report analyses the catalyst handling services market based on type, end-use industry and geography. By type, the market is segmented into loading / unloading, screening, transport and others. Based on end-use industry, the market is classified into petroleum refining, petrochemical, chemical & fertilizer and others.
Some of the major players operating in the market include Mourik (Netherlands), Anabeeb (Saudi Arabia), Dickinson Group of Companies (South Africa), CR Asia (Thailand), Veolia Group (Australia), Technivac (UK), CAT Tech (UK), Buchen-ics (Germany), Kanooz (Saudi Arabia), Maviro (US), Expertise (Saudi Arabia), Plant tech (India), Prior Industrial Services (Netherlands), INSEE ECOCYCLE (Thailand) among others.
Geographically, the Catalyst Handling Services market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East & Africa.
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