Lucintel Forecasts Emission Control Catalyst Market to Reach $16.3 Billion by 2025

According to the recent study the emission control catalyst market is projected to reach an estimated $16.3 billion by 2025 from $12.9 billion in 2019, at a CAGR of 3.9% from 2020 to 2025. Growth in this market is primarily driven by stringent government regulation towards environmental protection, growth in the transportation & industrial sectors, and increasing demand for the diesel oxidation catalyst.

Browse 132 figures / charts and 100 tables in this 207 -page report to understand trends, opportunities and forecast in emission control catalyst market by application (transportation, industrial, and others), metal (palladium, platinum, rhodium, and others), vehicle type (light-duty vehicles and heavy-duty vehicles), fuel type (diesel vehicles and gasoline vehicles), mobility (mobile emission control catalyst and stationary emission control catalyst), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Palladium market is expected to remain the largest segment during the forecast period.”

Based on metal type, the emission control catalyst market is segmented into palladium, platinum, rhodium, and others. Lucintel forecasts that the palladium market is expected to remain the largest segment and it is also expected to witness highest growth during the forecast period due to excellent catalytic properties such as low cost, high melting point, high density, and corrosion & oxidation resistance.

 “Within the emission control catalyst market, the transportation segment is expected to remain the largest application”

Based on application, the transportation segment is expected to witness the largest segment and it is also expected to witness the highest growth during the forecast period due to increasing vehicle production and emission regulations in the European and North American region.

“Europe will dominate the emission control catalyst market in near future”

Europe is expected to be the largest region with the highest growth over the forecast period due to stringent emission regulations like Euro 6, and increasing vehicle production. Asia Pacific is expected to witness the highest growth over the forecast period supported by growing transportation and industrialization sectors especially in India and China.

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Major players of emission control catalyst market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. BASF SE, Johnson Matthey Pic., Umicore N.V., Corning Incorporation and others are among the major Emission control catalyst providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/emission-control-catalyst-market.aspx or helpdesk@lucintel.com