The rising market for Emission Control Catalysts in passenger cars and lights is driving the demand for the market.
Market Size – USD 21.60 Billion in 2019, Market Growth – CAGR of 6.8%, Market Trends – High demand for automotive catalytic converters.
The Emission Control Catalyst Market is projected to reach USD 37.28 billion in 2027. Improved use of three-way oxidation reduction converters is expected to drive market development in automotive applications. Strict environmental regulations aimed at reducing carbon emissions in the major markets, including the US, Germany, Japan and India, are projected to have a favorable market impact over the forecast period.
Emerging economies, including China and India, are expected to meet increased household and industrial energy demand, coupled with favorable policies to implement emission reduction solutions to boost demand for catalysts.
In terms of value, the automotive sector is projected to anticipate growth from 2019 to 2027. Mexico’s emergence as a destination for automotive production due to rising domestic demand for passenger and commercial vehicles, along with proximity to the US, is expected to increase the application of the emission reduction catalyst in the coming years.
Over recent years, the costs of installing catalytic converters over engine systems for finished goods are growing for leading car manufacturers. The phenomenon is projected over the next years to lead significantly to the growing use of pollution control catalysts over car engine systems.
Key players in the market include Solvay SA, Johnson Matthey, Umicore SA, Corning Incorporated, Aerinox Inc., Cormetech Inc., BASF, DCL International Inc., Shell Global, and Clariant International Ltd., among others.
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Further key findings from the report suggest
- The catalyst for reducing rhodium emissions is expected to grow from 2019 to 2027. Natural competitive properties in the catalyst industry are expected to enable the use of the component in conjunction with other metals like platinum and palladium and good consumer exposure.
- Rapid industrialization, especially in the Asian Pacific and Latin American emerging economies, coupled with enhanced ecological consciousness would fuel demand over the forecast period for the pollution control catalyst.
- The growth of volume from 2019 to 2027 is projected in Latin America. Thanks to the high prevalence of offshore petroleum basins, the number of installations of power plants will be increased in several oil and gas processing facilities in Brazil and Venezuela. Over the next few years, this aspect will boost the catalyst demand for Latin America’s pollution regulation.
- Increasing R&D costs and forming strategic relationships with purchasers including catalytic converter suppliers will continue to be a key success driver in the coming years.
- In March 2019, Johnson Matthey introduced a groundbreaking Activ DPF Particle Filter (DPF) system for stationary diesel vehicles, which is automatically regenerated. It helps produce renewable electricity without the need for a filter control system. This latest technology would help the company fulfill the needs of automotive customers.
For the purpose of this report, Reports and Data has segmented into the Emission Control Catalyst Market on the basis of Product, Application, and Region:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Asia Pacific
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/emission-control-catalyst-market
Table of Content:
Highlights of the TOC:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Emission Control Catalyst Market Segmentation & Impact Analysis
4.1. Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
Chapter 5. Competitive Landscape
5.1. Market Revenue Share By Manufacturers
5.2. Manufacturing Cost Breakdown Analysis
5.3. Mergers & Acquisitions
5.4. Market positioning
5.5. Strategy Benchmarking
5.6. Vendor Landscape
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